More often than not, people ask me, “Can I pick and choose which debts I want to list in my bankruptcy?” Unfortunately, the answer to this question is no. Every person that files a personal bankruptcy in Milwaukee must list all of their debt in their bankruptcy paperwork. Picking and choosing what to list is considered preferential treatment to your creditors, and it is, quite plainly, just not allowed. Don’t think that just because you list everything in your bankruptcy that you won’t be able to rebuild credit, however. There are several ways to rebuild credit, but excluding debt from your bankruptcy paperwork will not help you. In fact, paying some creditors while discharging debt with others while in bankruptcy could completely jeopardize your filing.
There are different options if there are debts that you would not like to discharge in bankruptcy. To determine what your options are, and to discover more information about the avoidance of preferential treatment in filing, please contact a Wisconsin bankruptcy lawyer with experience filling out bankruptcy schedules. Any reputable attorney will be able to answer these types of questions for you, so don’t be afraid to set up a free consultation to find out more and figure out what can and cannot be done in bankruptcy.