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.
Welcome back. Last week we discussed Chapter 7 bankruptcy and Chapter 11 bankruptcy. Today, we will explore Chapter 13 bankruptcy and alternatives to bankruptcy, including Wisconsin's Chapter 128 Reorganization law.
On Feb. 20, a federal grand jury issued an indictment to a Neillsville man with charges related to bankruptcy fraud. The charges are in association with a bankruptcy case that was filed in April 2008, in which the 45-year-old man allegedly concealed assets during his personal bankruptcy proceeding; he was additionally charged with witness tampering.
As reported in the Milwaukee Journal/Sentinel dated January 25, 2011 bankruptcy filings in Wisconsin continued to rise in 2010 as more people realized their financies couldn't outlast the slow economy.