Call Now!
Call Us 414-326-9231 608-260-7133 Text Us 414-326-4709
${site.data.firmName}${SEMFirmNameAlt}

What filing for bankruptcy cannot do, Part 2

Welcome back. As we said in the first post, the purpose of this two-part series is to give you a clear understanding of the ways in which bankruptcy may not be able to help you. Instead of setting unrealistic expectations, we want you to know what to expect when you ask us to help you file for bankruptcy relief.

In the first post, we discussed how it is often not possible to eliminate certain kinds of “secured” debt through bankruptcy, alone, such as home mortgage debt, auto loan debt or property tax debt. However, as we discussed, there are still ways to keep your property and reduce your secured debt, and an experienced bankruptcy lawyer can go over these options with you. 

We also discussed how there are other debts that receive special treatment under the law and usually are not dischargeable in bankruptcy, including child support, most student loans, alimony, court restitution orders and criminal fines.

In this post, we are going to discuss a couple of additional things bankruptcy typically cannot do.

Generally speaking, it is not possible to protect cosigners on your debts through bankruptcy. Even if you no longer have the legal obligation to pay back the loan, it is possible that the creditor could still go after whoever co-signed the loan with you for payment. For that reason, you will want to discuss your options carefully with an attorney if you had a co-signer on any of your loans.

Finally, it is not possible to discharge debts that you acquire after filing for bankruptcy. On the date you file for bankruptcy, there is a line drawn in the sand and any debts you take on after that date are not part of the process. That is another reason why it is important to work with a bankruptcy lawyer who can make sure you file at exactly the right time.

Hopefully, you now understand more clearly what bankruptcy usually cannot do. Remember to ask your bankruptcy lawyer if you ever have any questions about the bankruptcy process along the way.

No Comments

Leave a comment
Comment Information
Email Us For A Response

Free Case Evaluation

* indicates required field

Miller & Miller Law, LLC
  • VISA
  • Master Cards
  • Discover
Milwaukee Office map Madison Office map Kenosha Office map

633 W Wisconsin Ave, Suite 500
Milwaukee, WI 53203

Phone: 414-312-6581
Fax: 414-277-1303
Milwaukee Office

2810 Crossroads Drive
Suite 4001
Madison, WI 53718

Phone: 608-260-7133
Madison Office

6123 Green Bay Road
Suite 210
Kenosha, WI 53142

Phone: 262-326-1669
Kenosha Office

Appleton Office
4321 W. College Ave.
Suite 200
Appleton, WI 54914

Phone: 920-280-3838
Appleton Office

Brookfield Office
200 S. Executive Drive
Suite 101
Brookfield, WI 53005

Phone: 262-261-0665
Brookfield Office

Glendale Office
6001 N. Green Bay Avenue
Glendale, WI 53209

Phone: 414-973-8662
Glendale Office

Fax: 414-277-1303 - We also have offices in Appleton, Glendale and Brookfield to better serve you.