Bankruptcy is a long process that doesn’t fit every situation. Here in Wisconsin, you have a different alternative, called Chapter 128. Chapter 128 is neither bankruptcy, nor credit counseling. It is a debt consolidation repayment plan through the court system. You get 36 months to pay off items, which are not considered collateral debts, like credit cards, medical bills, personal loans and miscellaneous bills. Student loans, taxes and your mortgage cannot be included in this plan.  

It costs under $50 to file Chapter 128 with the court. You work with an attorney to determine the payments to the trustee. It’s recommended that payments to the trustee be done through a wage withholding plan, making it easy to make payments each time. Although the trustee does not clean up your credit report; however once the plan is completed, you get documents from the court that will help you clean up remaining problems with the credit bureaus.

How It Helps Ease Financial Stress

  • Open to Wisconsin residents even if you don’t qualify for bankruptcy
  • Repay debts
  • Doesn’t get listed in the newspaper
  • Inexpensive to file
  • No need to make a court appearance
  • You don’t have to list all your debts
  • It can stop garnishments
  • Can file more than once

If you’re struggling with debt and do not qualify for a federal bankruptcy, get more information about Chapter 128 by calling The Law Offices of John A. Foscato in Green Bay at 920-432-8801.