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December 2009 Archives

Wisconsin homestead exemptions increased effective December 16

The amount of equity a Wisconsin homeowner can exempt, or protect, from judgment creditors increased effective December 16, 2009. An individual can now protect $75,000 of equity in their home, or the proceeds from the sale of their home with the intent to purchase another homestead for 2 years. The new exemptions have also eliminated the marriage penalty, allowing a married couple to protect $150,000 in their homestead.

Reaffirmation of Debts

The reaffirming of debts seems to be a hot topic of late. There are advantages and disadvantages of why one may reaffirm a debt in their bankruptcy and why one would not reaffirm their debt. This posting will discuss reasons why debts may not be reaffirmed:

Will my friends and family find out that I have filed for bankruptcy?

This is a common question that we get asked quite frequently. And the answer is probably not, unless you have some kind of business relationship with them, or if one of them owes you money. Bankruptcy is a matter of public record, so anyone could get access to the information, however it is usually not published anywhere. The only exception to this if a large asset is involved (such as a business) .

Contact Our Milwaukee Law Firm

Reach Miller & Miller Law, LLC, online or call us at 414-326-9231 to schedule a free initial consultation. Our law office also provides Spanish language services. Se habla español.

To schedule an initial consultation, call 414-326-9231 or contact Miller & Miller today.

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