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Bankruptcy Lawyers in Madison, WI

The Bankruptcy Code is a fundamental part of American law, authorized directly by the United States Constitution. For an individual or a distressed business, it can be the difference between personal anguish, misery, or the failure of their business and successfully overcoming the financial hurdles that stand in their way.

At Richman & Richman, LLC, our Madison Wisconsin bankruptcy attorneys know the bankruptcy code and the bankruptcy law of the U.S.. Our team brings decades of financial distress experience to the financial issues facing individuals and businesses alike. As bankruptcy attorneys, we work with clients at every level and all types of bankruptcy proceedings, helping them navigate the complexities of the process and get the relief they deserve.

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How Can Bankruptcy Lawyers Help Me When Facing a Bankruptcy in Wisconsin?


Formal Bankruptcy and Debt Relief Solutions:


Chapter 7 Bankruptcy

If used properly, Chapter 7 is a powerful tool, but it’s not a one-size-fits-all solution. Consult and consider your options by contacting a bankruptcy attorney in Madison, WI, to determine if it’s the right direction for you. Also known as “liquidation bankruptcy,” Chapter 7 bankruptcy offers a quick path to debt relief by selling non-exempt assets to pay creditors. Think of it as a financial reset button. Eligible businesses and individuals can file for Chapter 7, regardless of income or asset amount to obtain bankruptcy relief.

Chapter 11 Bankruptcy

With Chapter 11 bankruptcy, you can breathe a sigh of relief as you work on a plan to repay creditors and get back on track. Chapter 11 Bankruptcy is not instant magic, but you get time to re-organize and negotiate with creditors. Think of new deals, payment schedules, and even selling off parts of the business to stay afloat. Chapter 11 bankruptcy may be your solution for business restructuring and financial reorganization. But remember, it’s a complex process requiring court approval and meticulous financial planning for future debt management issues.

Chapter 12 Bankruptcy

Chapter 12 bankruptcy is designed specifically for family farmers and fishermen facing financial hurdles. Think of it as a debt do-over for family farms and fisheries. Our team will file with the court, and propose a repayment plan based on your income, and creditors are aligned while you get back on your feet. In many cases, there is no fire sale, just time to restructure debts and keep your farm/seafood business going strong. Chapter 12 should not be considered a magic wand, but a powerful tool for farm/fishery revival. This category of bankruptcy lets you reorganize debts, negotiate with creditors, and maintain your livelihood. Chapter 12 demands careful financial planning and court approval. So, if you’re a farmer or fisherman, Chapter 12 might just be the tool you need to steer your finances back on course.

Chapter 13 Bankruptcy

Chapter 13 bankruptcy lets you consolidate debts, halt foreclosure, and stop creditor calls. Unlike Chapter 7, you get to keep your assets, but it does require a commitment to a repayment schedule. A bankruptcy attorney specializing in Chapter 13 bankruptcy filings will create a budget, and creditors ideally agree to steady payments for 3-5 years. Selling non-essential stuff might be included, but keeping your car and home would allow for a sure foundation.

Wisconsin Chapter 128 Debt Amortization

Chapter 128 allows Wisconsin residents to consolidate debts, negotiate with creditors, and regain financial stability. Unlike traditional bankruptcy, Chapter 128 doesn’t tarnish credit as severely and offers a simpler, more streamlined process. Wisconsin’s Chapter 128 Debt Amortization is a unique financial tool for those seeking relief from overwhelming debt. So, if you’re a Wisconsinite feeling the weight of debt, Chapter 128 might just be an avenue to financial freedom. This method would offer a structured repayment plan without the formalities of bankruptcy and be more of a customized repayment plan for Wisconsinites struggling with non-mortgage debt. The aim of a Wisconsin Chapter 128 Debt Amortization lawyer would be to create a budget and align creditors to agree to a reduced payment schedule over 3-5 years.

Receivership/Assignment for the Benefit of Creditors (ABC)


Trustee services:


Farm Bankruptcy & Restructuring

Our legal professionals are knowledgeable attorneys who are available to advocate for creditors who wish to protect their interests in the bankruptcy process. 

What Should I Expect from a Wisconsin Bankruptcy Attorney?

Our bankruptcy attorneys have dealt with thousands of clients who have placed their trust in us to guide them through financial hardship and to get a fresh start.

We strive to obtain solutions short of formal bankruptcy through financial analysis and negotiations with creditors. We can draw from a pool of our trusted financial analysts and turnaround specialists to glean the information necessary to find a solution to your problems. When necessary to do so, we are well-versed in formal bankruptcy proceedings and will not be stymied by the complexities of the bankruptcy process.

What is the process if I am facing Bankruptcy?

Our lawyers understand all of the technical complexities of bankruptcy laws, as well as the human experience, owing to their experience working with hundreds of businesses and thousands of individuals during their decades of practice. We know for debtors, this is not your “best time,” and this is where our experience and counsel can be especially valuable. We have seen what works and what does not work, how businesses can work through a successful Chapter 11, and how others fail. We offer the insight gained from our practical experience of working with many individuals and businesses throughout the bankruptcy process.

What We Do as Bankruptcy Lawyers:

    • Alternatives to bankruptcy

    • Loan restructuring and modifications

    • Contested foreclosures

    • Bankruptcy asset sales

    • Forbearance agreements

    • Foreclosure agreements

    • Reaffirmation agreements

    • Discounted pay-off agreements

    • Sale and purchase of distressed debt

    • Extensions of time for a debtor in possession or trustee

Who Our Clients Are

    • Debtors and creditors

    • Lenders and financial institutions

    • Individuals to large, multimillion-dollar companies

    • Companies in all types of industries

    • Small farms, family farms, and family fishing businesses

Put Our Experienced Bankruptcy Lawyers On Your Side

We never provide false hope; you can rely on us to provide you with an honest assessment of your legal options and future prospects.

We invite you to contact our firm to schedule a consultation with our Wisconsin bankruptcy lawyers by calling 608-630-8990. We have offices in Madison.

We are a debt relief agency. We help people file for relief under the Bankruptcy Code.