Call Now!
Call Us 414-326-9231 608-260-7133 Text Us 414-326-4709
${site.data.firmName}${SEMFirmNameAlt}

An alternative to bankruptcy for Wisconsin residents

Some people facing serious debt are reluctant to file for bankruptcy. Individuals may be afraid of the effect filing for bankruptcy could have on their credit, or they could have another personal reason for shying away from the bankruptcy process.

The good news is that bankruptcy isn't the only debt solution available for Wisconsin residents. In fact, many people in Milwaukee County and the rest of the state are taking advantage of a little-known bankruptcy alternative that involves petitioning for Chapter 128 protection.

As we discussed in an article on our website, Chapter 128 protection allows petitioners to create a three-year repayment plan that involves paying back all creditors using a single, affordable monthly-payment. In some ways, petitioning for Chapter 128 protection is similar to bankruptcy or debt consolidation, but it's truly a unique option.

How Chapter 128 protection differs from bankruptcy:

  • The Chapter 128 process is much simpler than the bankruptcy process; however, it does not offer all of the same benefits as bankruptcy.
  • Chapter 128 protection usually does not have the same negative effect on a person's credit report as bankruptcy does.
  • Unlike bankruptcy, Chapter 128 protection does not require the petitioner to declare all debts, assets and income.
  • Chapter 128 protection also does not require the petitioner to go to court, participate in credit counseling or submit tax records.
  • While a Chapter 7 bankruptcy discharge can only be granted once every eight years, Chapter 128 protection can be used repeatedly.

As mentioned above, bankruptcy provides benefits that are not possible through Chapter 128 protection, including the reduction or elimination of debt. That's why it's very important to meet with an experienced bankruptcy lawyer who can compare all of the options available and help you reach a solution that's right for your situation.

No Comments

Leave a comment
Comment Information
Email Us For A Response

Free Case Evaluation

* indicates required field

Miller & Miller Law, LLC
  • VISA
  • Master Cards
  • Discover
Milwaukee Office map Madison Office map Kenosha Office map

633 W Wisconsin Ave, Suite 500
Milwaukee, WI 53203

Phone: 414-312-6581
Fax: 414-277-1303
Milwaukee Office

2810 Crossroads Drive
Suite 4001
Madison, WI 53718

Phone: 608-260-7133
Madison Office

6123 Green Bay Road
Suite 210
Kenosha, WI 53142

Phone: 262-326-1669
Kenosha Office

Appleton Office
4321 W. College Ave.
Suite 200
Appleton, WI 54914

Phone: 920-280-3838
Appleton Office

Brookfield Office
200 S. Executive Drive
Suite 101
Brookfield, WI 53005

Phone: 262-261-0665
Brookfield Office

Glendale Office
6333 N. Green Bay Avenue
Glendale, WI 53209

Phone: 414-973-8662
Glendale Office

Fax: 414-277-1303 - We also have offices in Appleton, Glendale and Brookfield to better serve you.