Phone Call Us 414-326-9231
Toll Free 866-678-9352
Text Us 414-277-7742

Explaining the rules for Chapter 128 in Wisconsin

Filing for bankruptcy is a last ditch effort for thousands of people across the country every year and Wisconsin is no exception. Even as the economy continues to slowly improve, people are still struggling with debt and finding ways to pull out of it. An alternative to filing for bankruptcy in Milwaukee, Wisconsin, is Chapter 128.

Chapter 128 is very easy to file for in Wisconsin. All you need is a petition that announces you are filing for Chapter 128 and include an affidavit that lists the debts you want to reorganize. This type of filing covers all unsecured debts a person might have accrued during one's lifetime. This includes credit cards, speeding tickets, payday loans, medical bills, rent payments and late utility bills.

Secured debts are not accepted during Chapter 128 and these include car loans and mortgages. When filing the affidavit for Chapter 128, he or she must acknowledge that the debtor will make regular payments against the debt for at least three years.

When filing for Chapter 128, the debtor should enlist the help of a trustee. The debtor and the trustee will total the unsecured debt of the debtor, add in the trustee fees and then divide by 36 to come up with a monthly payment amount. This information is submitted to the court in the county where the debtor lives in Wisconsin. The court then issues a protective order that prevents interest from accruing or wage garnishment from happening while payments are being made.

All monthly payments are sent by the debtor to the trustee. If the repayment plan is not completed, the debtor could become subject to interest accrued during the three-year period. An incomplete repayment plan can also lead to collection agencies resuming their contact with the debtor.

The biggest different between a regular bankruptcy filing and Chapter 128 is that in Chapter 128, the debtor does not claim all of his or her assets, debts and income in the bankruptcy filing.

Visit our site today to learn more about Chapter 128 in Wisconsin and have all of your questions answered.

No Comments

Leave a comment
Comment Information

Contact Our Milwaukee Law Firm

Reach Miller & Miller Law, LLC, online or call us at 414-326-9231 to schedule a free initial consultation. Our law office also provides Spanish language services. Se habla español.

To schedule an initial consultation, call 414-326-9231 or contact Miller & Miller today.

Free Case Evaluation

* indicates required field

Milwaukee Office
633 W Wisconsin Ave, Suite 500
Milwaukee, WI 53203

Phone: 414-326-9231
Phone: 414-312-6581
Fax: 414-277-1303
Milwaukee Law Office Map

Kenosha Office
6123 Green Bay Road
Suite 210
Kenosha, WI 53142

Phone: 414-326-9231
Phone: 262-326-1669
Kenosha Law Office Map

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

Phone: 414-326-9231
Phone: 262-261-0665
Brookfield Law Office Map

Madison Office
2810 Crossroads Drive
Suite 4001
Madison, WI 53718

Phone: 414-326-9231
Phone: 608-260-7133
Madison Law Office Map

Glendale Office
6001 N. Green Bay Avenue
Glendale, WI 53209

Phone: 414-326-9231
Phone: 414-973-8662
Glendale Law Office Map

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

Phone: 920-280-3838
Map & Directions