Nicolet Law Office, S.C.

Is Chapter 7 bankruptcy right for all Wisconsin residents?

Did you know that you have alternatives to filing for Chapter 7 bankruptcy? If you do not qualify or do not find the provisions in Chapter 7 bankruptcy to be appropriate for your financial situation, you could pursue personal bankruptcy proceedings under Chapter 13 of the bankruptcy code. This alternative form of filing can let you to keep more of your personal property, allowing you to move forward with your financial success faster than you thought possible.

Can I save my home during bankruptcy?

Using a Chapter 13 proceeding makes it far more likely that you will be able to keep your home from foreclosure. By choosing this method, you could set yourself up with a payment plan that allows you to "catch up" on house payments while you are working to discharge debt. Chapter 13 has a variety of other advantages -- namely, that it is less likely to be dismissed than Chapter 7 bankruptcy. Those clients who are facing primarily consumer debt may have their Chapter 7 case thrown out; that process involves liquidation of debt and is more inclined toward debt forgiveness. Chapter 13, however, often requires a special repayment plan to resolve debts, allowing for more flexibility. Chapter 13 cases may be less likely to be disallowed during courtroom evaluation.

How does the "means test" affect me?

Courts decide who is eligible to file for Chapter 7 bankruptcy in Wisconsin by applying the means test. That is, certain categories of earners cannot qualify for liquidation of debt. Those include consumers whose current monthly income (over five years) is higher than $12,475 or is more than 25 percent of the filer's unsecured debt amount. Such cases can be converted to Chapter 13 repayment from Chapter 7 liquidation with the consent of the filer.

Bankruptcy issues can quickly become convoluted and confusing. Determining which type of bankruptcy is best for your personal situation can be particularly challenging. Increase your chances of courtroom success by seeking legal assistance from the very start of your bankruptcy process.

Source: United States Courts, "Chapter 7 - Bankruptcy Basics," accessed July 17, 2015

Awards & Recognition

Our peers and independent third-party organizations have recognized the hard work and dedication we put into every case. This has led to numerous awards and accolades.

  1. Rated By Super Lawyers | Russel D. Nicolet
    Super Lawyers Rising Stars
    Avvo Rating 10.0 Superb | Top Attorney Personal Injury Avvo Rating 10.0 Superb | Top Attorney Bankruptcy
  2. The American Association of Legal Advocates Wisconsin Association for Justice BBB Accredited Business - A+
  3. Minnesota State Bar Association American Bar Association State Bar of Wisconsin
  4. BV Distinguished | Lexis Nexis | Martindale-Hubbell | For Ethical Standards and Legal Ability The National Trial Lawyers Million Dollar Advocates Forum

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Personal Dedication To Your Case

Contact us today for a free consultation where you will speak directly with one of our attorneys. We are conveniently located for your accessibility, with offices in Hudson, Eau Claire, and five other cities throughout the region. If your condition prevents you from coming to one of our offices, we will happily meet with you at your home or another location that is comfortable for you.

Call Us: 800-456-6956

  • In Wisconsin, call: 715-802-0872
  • In Minnesota, call: 651-243-2872

Tell Us About Your Case We’ll review your case details and contact you with an action plan.

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Wisconsin Offices

Hudson Office
511 2nd Street Suite 203
Hudson, WI 54016

Phone: 715-802-0872
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Rice Lake Office
337 N. Main Street
Rice Lake, WI 54868

Phone: 715-802-0872
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Eau Claire Office
402 Graham Ave, Suite 305
Eau Claire, WI 54701

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Superior Office
1200 Tower Ave.
Superior, WI 54880

Phone: 715-802-0872
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New Richmond Office
1500 Madison Ave., Suite 220
New Richmond, WI 54017

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Wausau Office
408 Third Street, Suite 303
Wausau, WI 54401

Phone: 715-802-0872
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Woodbury Office
724 Bielenberg Drive, Suite 126
Woodbury, MN 55125

Phone: 651-243-2872
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Duluth Office
109 North 2nd Avenue West
Duluth, MN 55802

Phone: 218-208-6502
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Hibbing Office
Howard Court Bldg.
302 Howard St. , Ste. 123
Hibbing, MN 55746

Phone: 218-208-6502
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Minnesota Offices