Bankruptcy Lawyers
At Johnson & Cohen, our bankruptcy lawyers can help you end the financial chaos in your life and regain control over your finances. For more than 10 years, we have been helping hard-working Chippewa Valley area people successfully navigate through the bankruptcy process. Our practice is dedicated to handling personal bankruptcy matters in a professional and timely manner. We pride ourselves on fast, detailed personal service.
Chapter 7 Bankruptcy
Chapter 7 bankruptcy, sometimes called a straight bankruptcy, is a liquidation proceeding. The debtor turns over all non-exempt property to the bankruptcy trustee, who then converts it to cash for distribution to the creditors. The debtor receives a discharge of all dischargeable debts usually within four months. In the vast majority of cases, the debtor has no assets that he would lose, so Chapter 7 will give that person a relatively quick "fresh start".
Also known as "Fresh Start" bankruptcy, Chapter 7 allows a person to eliminate most or all of his or her debt while being allowed to keep whatever property they might have.
It allows unsecured debt such as medical bills, personal loans and most credit card charges to be easily eliminated.
In many cases, a person can keep their home or car (secured debt), provided they continue to make current payments and are up to date on the loan.
Chapter 7 will eliminate:
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Johnson And Cohen, S.C.
320 S. Barstow St., Eau Claire, WI 54701
7158382889
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