Posted on January 28th, 2010
Many companies prefer to think positive and believe that bankruptcy is not a possibility. However, as the recent recession has demonstrated, no companies are really immune to bankruptcy.
For this reason, many companies are advised to develop a bankruptcy contingency plan. Such a plan is to plan out worst-case scenarios and assess the legal liabilities related to those scenarios. These worst-case scenarios could result if a financially stable company loses a major supplier or customer.
If your company has questions about the possibility of bankruptcy, contact the Milwaukee bankruptcy lawyers of the DeLadurantey Law Office, LLC, at 414-377-0518.
Posted on January 22nd, 2010
A discharge releases a debtor from personal liability for certain types of debts. When a discharge is initiated, the debtor usually no longer must repay his or her obligations to certain creditors.
However, not all debts may be discharged. The types of debts that may be discharged often depends on state law and the type of bankruptcy.
If you have questions about your bankruptcy filing, contact the Milwaukee bankruptcy lawyers of the DeLadurantey Law Office, LLC, at 414-377-0518.
Posted on January 22nd, 2010
When individuals file for bankruptcy, they are often worried about the long-term consequences. One consequence is that a notification of a bankruptcy filing will stay on their credit report.
This length of this notification depends on the type of bankruptcy. The notification will stay on a credit report for 10 years under Chapter 7 and 7 years under Chapter 13.
If you or anyone you know has considered filing for bankruptcy, contact the Milwaukee bankruptcy lawyers of the DeLadurantey Law Office, LLC, at 414-377-0518.
Posted on January 13th, 2010
When individuals choose to file for bankruptcy, they must often consider which type of bankruptcy filing is best for them. The better bankruptcy filing option will often depend on the filer’s needs and financial situation.
Many individuals who want to keep their home or car may choose Chapter 13 bankruptcy protection. Under Chapter 13, they often will have the opportunity to repay some or all of their debts over an extended period of time. With this extension, Chapter 13 bankruptcy filers are often able to keep their home and car.
If you or anyone you know is considering Chapter 13 bankruptcy protection, contact the Milwaukee Chapter 13 lawyers of the DeLadurantey Law Office, LLC, at 414-377-0518.
Posted on January 13th, 2010
When filing for bankruptcy, individuals should include their utilities as part of their debt. By including the utilities, individuals can ensure that their utilities will not be shut off during their bankruptcy filings.
This provision also applies to Chapter 128 consolidations, which is a legal mechanism for helping to consolidate and pay off debt. Of course, most individuals are advised to consult with an attorney for how best to deal with their utilities during a bankruptcy filing or debt restructuring.
If you or anyone you know has questions about a bankruptcy filing, contact the Milwaukee bankruptcy lawyers of the DeLadurantey Law Office, LLC, at 414-377-0518.
Posted on January 6th, 2010
Bankruptcy filings rose 32 percent in 2009 compared to 2008. According to statistics from the National Bankruptcy Research Center, 1.3 million individuals and businesses filed for bankruptcy.
The uptick in bankruptcy filings was largely a result of the economic recession. As the recession caused many individuals to lose their jobs and other sources of income, many individuals and families had trouble paying off their debts and were forced to file for bankruptcy.
If you or anyone you know has considered filing for bankruptcy, contact the Milwaukee Chapter 7 bankruptcy lawyers of the DeLadurantey Law Office, LLC, at 414-377-0518.
Posted on January 5th, 2010
Married couples may choose to file for bankruptcy as individuals. However, in most cases, it may be beneficial for married couples to file for bankruptcy together.
Married couples are typically advised to file for bankruptcy together for a number of reasons. One reason is that Wisconsin is a marital property state. This means that one spouse is liable for the other spouse’s debts that are incurred in marriage for family purposes.
If you and your spouse are considering filing for bankruptcy, contact the Milwaukee bankruptcy lawyers of the DeLadurantey Law Office, LLC, at 414-377-0518.
