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Chapter 128 Wisconsin Bankruptcy Alternative

A Non-Bankruptcy Alternative


You may think that this option is something new, but Chapter 128.21 has actually been around for decades. It is specific to the state of Wisconsin, an old state-law debtor action, and a non-bankruptcy alternative. It is confusing at first glance because it has a “bankruptcy sounding label.” To reaffirm, Wisconsin Ch.128 is NOT bankruptcy. Chapter 128 may work well for someone who has more debt than they can handle, but could possibly repay with minimal help in a structuring a plan. Nearly any type of unsecured debt can be included in a section 128.21. This could include things such as rent payments, speeding tickets, speedy/payday loans, and some medical bills. However, all of of your debts need to be carefully reviewed by a Debt Advisors attorney to ensure they qualify for restructuring. For example, larger loan amounts for things like a home or car often have monthly payments that are too big for Ch.128. Debtors may not allow for the restructuring of these larger loans.

Wisconsin’s Non-Bankruptcy Alternative Compared to Bankruptcy


Possibly there are some things here that you were not previously aware of:

  • A chapter 128 debtor must repay all debts noted on their individual plan.
  • Unlike bankruptcy, no debts are discharged or in other words, no debts are eliminated completely.
  • Unlike bankruptcy, debts cannot be reduced from original amount.
  • Large debts such as mortgage or car note are likely not going to be included in a Ch.128
  • Chapter 7 can only be filed once every six years; chapter 13 or chapter 128 may continue to be options in-between.
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      Wisconsin Chapter 128


      With WI Chapter 128, the debtor bypasses filing bankruptcy for a different course of action. This course to get a handle on finances includes debt repayment. Your attorney works with creditors to accept monthly payments for as long as three years. During this process, interest on the debt stops accruing. Your debts are totalled they a repayment is calculated for 36 months. At the onset of the process, an automatic stay also goes into effect. This stops creditors who are subject to the jurisdiction of the state of Wisconsin. The cost to file is minimal, and based on the county you reside in. There are small attorney fees, and also trustee fees associated with a Wisconsin Chapter 128.

      Doing Nothing, Fixes Nothing
      If you are becoming further in debt, don’t let the fear of getting help from a professional overcome the reality of the worsening situation. Without some kind of action, your credit score will continue to fall due to missed payments. Don’t let your loans go into default or your car get repoed. Don’t put yourself through potential lawsuits and harassing creditors. Making the necessary changes to take back control of finances. Making that first call, or filling out the form on this page to request a free consult..it’s a key step. We get that these things are sometimes easier said than done. However, we’ve helped so many people in your shoes. We can help you too. If you’ve tried everything in your power, and still find yourself becoming further and further in debt, get the facts. Learn about your options. Rest assured, there is help available to you. It can be as simple as just reaching out for some professional advice and helpful guidance. Call us toll-free: 888-997-4917

      Filing Bankruptcy in Wisconsin
      Never discount bankruptcy as a realistic, reliable, and attainable solution. If Chapter 128 doesn’t resolve or debt problems then bankruptcy may be something else to look into. For many people just like you, it has been life-changing to have Debt Advisors represent them in bankruptcy. Bankruptcy has been utilized by many many Wisconsin residents to get out of debt. Don’t just take our word for it, read our reviews on Google. We are so proud of our reviews because they are a testament of the kind of personal and dependable service we offer. Financial relief can be obtained in as little as 3-6 months with a Chapter 7. You do lose your credit cards, but they’re likely a burden anyway. (Obtain new ones in as early as a year.) Bankruptcy could affect your credit score, but isn’t it low already? The beauty of filing bankruptcy is that it provides a fresh start. This way, you’ll actually have your first opportunity at building BACK credit scores. Keep in mind that nothing will remove student loan debts, not even bankruptcy. However, the beauty of eliminating debt is that it often allows for money to be freed up. When that money is freed up, it can be used to pay off remaining student loan debt. In general, bankruptcy may free up money in other areas to make your life a whole lot easier.

      Wisconsin Debt Relief
      In any case, if you’re interested in learning more about getting control over your finances, we hope that you choose to take advantage of your free consultation. We won’t push bankruptcy if it’s not right for your situation. We are honest people who provide professional advice. Consult with a bankruptcy lawyer who understands the different roles of the debtor, creditors, attorney and trustee. An experienced bankruptcy attorney can clearly explain the differences between state debt relief and federal options. (chapter 128 vs bankruptcy) Allow Debt Advisors to review your individual circumstances and provide the best option for you and your family.

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