How Bankruptcy Impacts Your Utilities

by DeLadurantey Law Office, LLC on March 15, 2012

Whether you rent an apartment or own a home, everyone needs utilities and services like electricity and water to live comfortably. One concern many people have about filing for bankruptcy is potentially losing these services. If you are going through a financially difficult time and thinking about filing for bankruptcy, it is important to know that there are protections available to you so you can keep electricity, water, and other utilities running in your home or apartment.

Financial difficulty can impact every part of your life from your career to your personal relationships. Fortunately, you do not have to go through this time alone. If you or someone you know is thinking about filing for bankruptcy and has questions about utility exemptions, contact the Milwaukee bankruptcy lawyers of the DeLadurantey Law Office, LLC, at 414-377-0518 to speak with a compassionate and capable attorney.

Keeping Your Utilities in Chapter 7 Bankruptcy

One of the biggest deterrents that keep people from filing for Chapter 7 bankruptcy is the fear of losing personal property or services they need for everyday life. There are actually many exemptions available for debtors, including one for utilities. In order to keep utilities, debtors have 20 days to qualify for an exemption by providing the utility company with any of the following types of assurance:

  • A cash deposit for future services
  • Letter of credit
  • Promise to pay for services after bankruptcy

If the debtor fails to provide any of the above, he or she could lose utilities. When you have made the decision to file for bankruptcy or if your finances have deteriorated to the point that it is a struggle to keep these basic services on, it is strongly advisable to consult with a bankruptcy lawyer about your situation.

Contact Us

Though the prospect may seem daunting, filing for Chapter 7 bankruptcy protection may be the right choice for your circumstances and could significantly lessen the degree of financial distress which you are facing. To learn more, contact the Milwaukee bankruptcy attorneys of the DeLadurantey Law Office, LLC, by calling 414-377-0518 today.

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