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Common Questions About
Bankruptcy in Wisconsin

• Will I lose everything if I file for bankruptcy?

  Usually no. Wisconsin lets you protect specific property through exemptions. The state homestead exemption protects up to $75,000 of equity in your home, $150,000 if filed jointly (Wis. Stat. § 815.20). Wisconsin filers can elect either the state set (Wis. Stat. § 815.18) or the federal set (11 U.S.C. § 522(d)) — but not both. Most filers keep their home, vehicle, and household items.

• What's the difference between Chapter 7 and Chapter 13?

  Chapter 7 wipes out most unsecured debt (credit cards, medical bills, personal loans), usually in three to four months, and is income-tested. Chapter 13 sets up a court-supervised repayment plan over three to five years and lets you catch up on a mortgage or vehicle loan while you keep the asset. Income, assets, and what you most need to protect drive the choice.

• Will bankruptcy stop creditor calls and wage garnishments?

  Yes. Filing triggers the automatic stay under 11 U.S.C. § 362 as soon as the petition is entered with the court. That usually stops collection calls, lawsuits, garnishments, and repossessions while the case is active. If a creditor keeps pushing, Wisconsin’s Consumer Act (ch. 427) can offer additional protection in some situations.

• Can I keep my car and house if I file?

  In many cases, yes. It depends on how much equity you have, whether payments are current, and which chapter you file under. If the equity fits within Wisconsin exemptions or the federal set you choose, you can usually keep the property. Chapter 13 can also help if you need time to catch up on missed mortgage or car payments.

• How much does it cost to file for bankruptcy in Wisconsin?

  Federal filing fees are $338 for Chapter 7 and $313 for Chapter 13 (per the U.S. Courts Bankruptcy Court Miscellaneous Fee Schedule — verify on publish day). Attorney fees vary with case complexity. We offer free consultations and lay out fees up front before anything is filed, so the cost question is answered before the work begins.

• How long does bankruptcy stay on my credit report?

  Chapter 7 typically remains on a credit report for up to 10 years; Chapter 13 typically falls off after 7 years (per the CFPB). Many filers start rebuilding credit well before either of those marks comes off. Secured cards, on-time utility payments, and steady employment do most of the work.

• Can I qualify for bankruptcy in Wisconsin?

  Eligibility comes down to income and the chapter you file under. Chapter 7 uses a means test based on the Wisconsin median household income; the U.S. Trustee Program publishes the current thresholds (justice.gov/ust) and updates them in April and November. Chapter 13 requires a steady income that can support a 3- to 5-year plan. A short call clarifies which one applies.