La Cross Attorneys Provide Bankruptcy Filing and Representation for Individuals and Businesses
Compassionate help for clients with Debt Problems
When you or your business faces difficult economic times, dealing with debt becomes a priority. There are numerous ways to address financial problems. Bankruptcy may be a viable option. At Hale, Skemp, Hanson, Skemp & Sleik, we represent individuals, families and businesses that need debt relief and bankruptcy services. Your financial troubles may be the result of a downturn in the economy, the loss of your job, or healthcare expenses because of an unexpected or catastrophic injury, divorce or other factors. Regardless of the reason, you need relief and a chance to get back on track. When credit card bills, installment debt and other obligations become overwhelming, it's time to consider all your options.
If you can no longer pay your creditors, bankruptcy offers an opportunity to get a fresh start. It is important to consult with an attorney before you start selling or converting assets, which you may be able to keep in bankruptcy. A troubled business can use bankruptcy to reorganize or liquidate. Hale, Skemp, Hanson, Skemp & Sleik consults with clients in connection with a wide range of bankruptcy matters, including the three most common forms of bankruptcy filing:
- Chapter 7 bankruptcy: Commonly referred to as liquidation, Chapter 7 allows an individual or business to liquidate assets to pay off debt. In the case of an individual, this provides an opportunity for a fresh start. A business that liquidates under Chapter 7 can no longer be in operation. Chapter 7 is generally available only to individuals who qualify under a means test that calculates current monthly income and makes allowances for living expenses.
- Chapter 11 bankruptcy: Commonly referred to as reorganization, Chapter 11 allows businesses that want to continue operating an opportunity to shed certain debt and obligations in connection with a plan of reorganization to be approved by the creditors.
- Chapter 13 bankruptcy: Commonly referred to as a wage earner's plan, Chapter 13 allows individuals with regular income who do not qualify for liquidation under Chapter 7 an opportunity to keep their property and repay all or part of their debts over a period of time, usually three to five years.
Certain types of debt, such as family support obligations, cannot be discharged in bankruptcy. Certain types of property, such as value in a home or retirement accounts are exempt from liquidation and protected in bankruptcy.
Representing creditors in bankruptcy proceedings
Our firm also represents creditors, such as banks, businesses and individuals, who are owed money by those who file bankruptcy. We assist secured and unsecured creditors, pursuing their interests during reorganization or in connection with a payment plan. We also challenge discharge of debts if reason exists to do so. Among other things, this includes filing fraud claims against bankruptcy debtors when warranted.
Use an experienced bankruptcy attorney in La Crosse capable of handling any issue
Hale, Skemp, Hanson, Skemp & Sleik represents individual and business debtors in bankruptcy proceedings, and can also assist creditors. We are a debt relief agency. We help people file for relief under the Bankruptcy Code. Contact us online or call us at 608-519-4788.