Czachor, Polack + Borchardt, L.L.P.
Our office remains open, and in response to COVID-19 we offer remote consultations and virtual meetings. Please contact our office to discuss what meeting option best fits your situation. Call 920-393-3306.
  • Personal Injury
  • Bankruptcy
  • Divorce
  • Estate Planning

What you need to know about bankruptcy and timing

There should be more to life than the constant struggle for financial freedom. Even if you go to work every day, you may not have enough resources to pay monthly bills. Further, a medical emergency or unplanned event may send you into a financial tailspin. Either way, you may need to explore options for putting your budget back on track. Filing for bankruptcy protection is one of them. 

According to a report from CNBC, nearly half of Americans cannot afford a $400 urgent expenditure. Reporting indicates that debt is to blame. That is, most people have too much debt to cover the cost of an emergency. Fortunately, climbing out from under a mountain of debt probably does not take as long as you may think. 

Many bankruptcy filings move quickly 

While complex bankruptcy filings may take longer, many conclude in just three or four months. Accordingly, you can probably address your personal debt situation before seasons change in Green Bay. Naturally, you can do certain things to ensure your filing progresses rapidly. For a Chapter 7 filing, for example, you may need to complete a credit counseling course. You also likely want to gather certain documents before beginning the bankruptcy process. 

Credit repair often happens fast

Credit damage is a common fear for individuals contemplating bankruptcy. While a bankruptcy filing stays on your credit report for a decade, the consequences of one tend to diminish rather rapidly. Because filers have to wait many years before discharging debts again, credit card companies often begin sending offers soon after bankruptcy filings. As such, you have opportunities to repair your credit in the months and years after declaring bankruptcy. 

Filing for Chapter 7 bankruptcy protection is not the right approach for everyone in Wisconsin. Still, if you struggle to pay your bills or worry about your financial future, considering bankruptcy is likely a good idea. Even better, because the process typically moves quickly, your debt situation may begin to improve sooner than you may expect.

No Comments

Leave a comment
Comment Information
  • Avvo
  • Super Lawyers | Rising Stars
EMAIL US FOR A RESPONSE

Contact Us Today To Get The Help You Need

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

You have options to overcome the legal challenges you face. Call Czachor, Polack + Borchardt, L.L.P. to learn more about how we can help. Call 920-393-3306 or 888-557-7573 (toll-free).

Green Bay
107 North Broadway, Suite II
Green Bay, WI 54303

Toll Free: 888-557-7573
Phone: 920-393-3306
Fax: 920-437-1421
Map & Directions
Green Bay Law Office Map

Shawano
1488 East Green Bay Street, Suite 1
Shawano, WI 54166

Toll Free: 888-557-7573
Phone: 715-201-9782
Fax: 920-437-1421
Map & Directions
Shawano Law Office Map

Oconto
1008 Pecor Street, Suite C
Oconto, WI 54153

Toll Free: 888-557-7573
Phone: 920-393-3306
Fax: 920-437-1421
Map & Directions
Oconto Law Office Map