Attorney at Debt Advisors Law Offices

Practice Areas: Chapter 7 Bankruptcy, Chapter 13 Bankruptcy, Stop Foreclosure

A Non-Bankruptcy Alternative

You may think that this option is something new, but Chapter 128.21, (a non-bankruptcy alternative), 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 label that sounds similar to “bankruptcy.” To reaffirm, Wisconsin Ch.128 is NOT bankruptcy. All 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.

WI 128 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. Request a free Debt Advisors Law Offices consultation. 

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 totaled; 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 repossessed. 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.

The team at Debt Advisors not only helps individuals navigate financial challenges, but they are also actively engaged in the Milwaukee, Wisconsin community. From initiatives like the backpack giveaway event to having a significant presence at strategic locations like the Debt Advisors Mayfair North Tower, they remain committed to the welfare of the people they serve.

Learn about bankruptcy protections, types of bankruptcy, how to get started, what to expect, and who to trust. Filing bankruptcy is the ONLY way to completely eliminate debt. If bankruptcy is right for you, it offers powerful protections that cannot be achieved through alternative solutions such as hardship relief, loans, or debt settlement.

  • Exceptional service. The entire team was friendly and knowledgeable. The attorney took his time to walk me through step by step. I will recommend this law office to anyone!

    J Burks

  • I went through Debt Advisors as a referral by a friend. I am very happy I did so. The staff that I worked with were very helpful and showed a high level of professionalism. They were always able to answer any questions that I had. I was very happy with the attorney that I worked with, Michael Georg. Very professional.

    Terri Grote

  • Attorney Chad Schomburg and Debt Advisors helped me with my debt about three years ago. Chad explained the process to me and answered any questions I had, and the assistants compiled my documentation very efficiently while keeping my case moving forward. They were always available when I needed them, and even years later, I’m able to reach out to them, and they are willing to help. They have turned my life around 100%, and I could not have done it without them! Absolutely recommended!

    Tim Harris

  • They were there for my family from day 1 until the end, 5 years later (Ch. 13). Whenever I had questions or concerns they were always very responsive and gave me excellent advice. Michael and Jeremy are both exceptional bankruptcy attorneys. I highly recommend Debt Advisors.

    Steve

  • After I had to go on disability, I used my credit cards a lot more thinking I could pay them off when I was able to go back to work. That didn’t happen and I found myself so much worse off than I could handle. I went to Debt Advisors feeling terrible about what I had to do. Chad and everyone there were very understanding and put my mind at ease while taking such great care of me. They were there every step of the way and supported me when I was “freaking out”!! Every time I needed to contact them; their response time was amazing!! God forbid I ever need to go through this again, but I know where to turn if I need help! Debt Advisors are more than just filing bankruptcy on my behalf. They really care about what you are going through!! Thank you, Chad, Jeremy, Mike, and everyone at Debt Advisors!! I cannot tell you enough how much I appreciate all of you!! J Hammond

    Steve

  • After I had to go on disability, I used my credit cards a lot more thinking I could pay them off when I was able to go back to work. That didn’t happen and I found myself so much worse off than I could handle. I went to Debt Advisors feeling terrible about what I had to do. Chad and everyone there were very understanding and put my mind at ease while taking such great care of me. They were there every step of the way and supported me when I was “freaking out”!! Every time I needed to contact them; their response time was amazing!! God forbid I ever need to go through this again, but I know where to turn if I need help! Debt Advisors are more than just filing bankruptcy on my behalf. They really care about what you are going through!! Thank you, Chad, Jeremy, Mike, and everyone at Debt Advisors!! I cannot tell you enough how much I appreciate all of you!! J Hammond

    J Hammond

  • Chad Schomburg and his Staff did a phenomenal job for me and in an expeditious manner. I’ve recommend countless clients to Chad Schomburg, Wow!!! Outstanding customer service from the Schomburg office:)

    Lisa Williamson