Blog

Can I buy a car before I file for bankruptcy? by West Bend, WI Bankruptcy Lawyer

Can I buy a car before I file for bankruptcy? by West Bend, WI Bankruptcy Lawyer It is possible to purchase a new vehicle before filing for bankruptcy - with a few caveats: 1)      The purchase must be made in good faith (i.e. you need a car for reliable transportation – you don’t already have a reliable car, the car is not a luxury car, or the car was not overly expensive); 2)      You must have enough exemptions to protect the equity in...
moreComments are closed

What happens to my inheritance if I file for bankruptcy? by Menomonee Falls WI Bankruptcy Lawyer

What happens to my inheritance if I file for bankruptcy?  by Menomonee Falls WI Bankruptcy Lawyer The answer to this question is complicated.  If you are eligible to receive an inheritance within 6-months of filing for bankruptcy, that inheritance becomes part of your “bankruptcy estate” and the Trustee assigned to your case may use those proceeds to pay your creditors – thus, leaving you with less, or no inheritance.  It is best to plan for this type of scenario by contacting...
moreComments are closed

What if I have an old collectible car – will I lose it if I file bankruptcy? by Mequon, WI Bankruptcy Lawyer

What if I have an old collectible car – will I lose it if I file bankruptcy?  by Mequon, WI Bankruptcy Lawyer Again, as in so many legal situations, the answer is “it depends.”  When you file for bankruptcy there are limits on the amount of property you will be allowed to keep.  Anything over and above those limits will be liquidated and sold to pay off your creditors.  The key question regarding the old collectible car is – what is...
moreComments are closed

Can I exempt (keep) bonds if I file bankruptcy? by Germantown, WI Bankruptcy Lawyer

Can I exempt (keep) bonds if I file bankruptcy?  by Germantown, WI Bankruptcy Lawyer The answer to this question is, “it depends.”  In most cases, yes.  But, a bit of pre-bankruptcy asset planning may be needed to ensure you do not lose the value of your bonds.  Contact us today to discuss the specific facts of your case. We represent clients in the following Wisconsin counties:  Washington, Ozaukee, Milwaukee, Fond du Lac, and Waukesha....
moreComments are closed

What happens to my life insurance policy if I file for bankruptcy? by West Bend, WI Bankruptcy Attorney

What happens to my life insurance policy if I file for bankruptcy?  by West Bend, WI Bankruptcy Attorney Often clients have a whole life insurance policy, i.e., an insurance policy with a cash surrender value (not a term policy).  Under Wisconsin laws, you may keep $150,000 of your cash surrender value when filing for bankruptcy (as long as the contract was issued more than 24-months before filing).  Under federal laws, you may keep 100% of the cash surrender value.  Contact our...
moreComments are closed