When a debtor in Oshkosh, Wisconsin, sees no way out of their debt, they may be able to get relief through bankruptcy. Student loans follow close behind mortgages as the highest consumer debt, and debtors commonly have concerns about discharging this kind of debt....
Chapter 11 Bankruptcy in Wisconsin
Chapter 11 bankruptcy can grant a business debtor a financial fresh start. It allows a debtor to reorganize their business affairs, while their business remains operating. A plan of reorganization is designed by your lawyers, and confirmed by the Court, to provide for...
Farm Bankruptcies in Wisconsin
According to the American Farm Bureau Federation, Wisconsin currently leads the nation in farm bankruptcies. Western Wisconsin has been hit particularly hard, with 39 new Chapter 12 bankruptcies in 2020. Smaller Wisconsin farms have faced the most trouble due to the...
Becoming a debtor in possession in a bankruptcy
A Wisconsin company that is struggling financially might opt to file for a Chapter 11 bankruptcy. This allows for debt restructuring so that the business can potentially survive. The company continues to operate and is known as a "debtor in possession." Debtor in...
Understanding Chapter 7 bankruptcy
If you've taken on more debt than you can handle and it seems like there's no end in sight, you may want to consider filing for bankruptcy. In the state of Wisconsin, there are different types of bankruptcy that a person can file for. One of the most commonly filed...
What happens to a business in bankruptcy?
When Wisconsin residents don't see a way out of debt, they have the option of bankruptcy. Bankruptcy helps them eliminate certain debts through repayment under Chapter 13 or liquidation under Chapter 7. However, the debtor may wonder what may happen to their business...
Cici’s Pizza files for bankruptcy
After decades of operation, Cici's Pizza has announced that it's filing for bankruptcy. The pizza buffet chain once had over 300 locations across the United States, including a few in Wisconsin. Unfortunately, these stores haven't been bringing in the income that the...
What to know about debt management plans
If you're having trouble paying off your debts in Wisconsin, there are a few steps you can take before you resort to filing for bankruptcy. You might be able to get your debts paid off if you work with a credit counseling agency. The agency could offer you a debt...
How a car gets treated during bankruptcy
Consumers may consider bankruptcy in Wisconsin when they have debts that they can no longer manage. However, a debtor may have concerns over losing their vehicle in bankruptcy. It depends on the type of bankruptcy filed and several other factors for the vehicle to be...
House bill would make student loans dischargeable in bankruptcy
The U.S. House of Representatives has been debating a bill that would change the bankruptcy laws for student loan debtors. The bill, known as the Student Borrower Bankruptcy Relief Act or H.R. 2648, would make it easier to discharge student loans in bankruptcy by...
