Milwaukee Chapter 13 Bankruptcy Lawyers

Debtor may cure loan defaults by making installment payments, and reinstate accelerated mortgage and other notes.
Debtor may be able to modify interest rates on some loans and extend the payment term on non-homestead debts to make them more affordable.
Debtor may have the ability to “write-down” secured non-homestead debts to the value of the collateral.
The Chapter 13 discharge is broader than under Chapter 7, so that more types of debts are dischargeable.
Debtor may be able to force (“cram-down”) affordable payments on secured and tax creditors that cannot be done under Chapter 7.
Debtor retains all desired property, provided creditors obtain at least as much under the plan as they would under Chapter 7.
Bars post-filing creditor actions against co-debtors if the creditor will be paid in full under the plan.

Debtor’s future income is subject to administration by the trustee for up to three and possibly as long as five years.
Under the plan, the debtor must establish and live under a firm, but potentially adjustable budget during the repayment period.
The trustee is entitled to a commission on payments paid to creditors which reduces the value of what is paid to creditors.
Still appears as a bankruptcy on credit reports.