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Navigating Chapter 128 Debt Repayment in Wisconsin: A Guide

Posted by Nathan DeLadurantey | Oct 09, 2024

What is Chapter 128?

If you're a Wisconsin resident facing overwhelming debt, Chapter 128 might be a lifesaver. It's a debt repayment plan designed specifically for Wisconsin consumers. Think of it as a financial reboot that can help you get back on your feet.

How Does Chapter 128 Work?

  1. File a Petition: You'll need to file a petition with the bankruptcy court, outlining your financial situation and proposing a repayment plan.
  2. Create a Repayment Plan: Your repayment plan will detail how you'll repay your debts over a period of three years. The court will review your plan to ensure it's fair and feasible.
  3. Make Payments: Once your plan is approved, you'll make regular payments to the bankruptcy trustee. These payments will be distributed to your creditors.
  4. Debt Discharge: After successfully completing your repayment plan, most of your eligible debts will be paid in full, giving you a fresh financial start.

Benefits of Chapter 128

  • Debt Relief: You can significantly reduce or eliminate your debts.
  • Financial Stability: Chapter 128 can help you regain financial control and prevent foreclosure or bankruptcy.
  • Time to Recover: The repayment plan gives you time to restructure your finances and get your business back on track.

Things to Consider

While Chapter 128 can be a valuable tool, it's important to understand the potential drawbacks:

  • Filing Fees: There are filing fees associated with filing. 
  • Credit Impact: Filing can have a negative impact on your credit score.

Need More Information?

If you're struggling with debt and considering Chapter 128, it's highly recommended to consult with an attorney. They can provide personalized advice and help you navigate the process.

Remember, you're not alone. Chapter 128 can be a powerful tool for getting your financial life back on track.

Attorney Nathan DeLadurantey offers free consultations to explain your legal rights in Wisconsin. Free consultations can be scheduled online. 

About the Author

Nathan DeLadurantey

Nathan DeLadurantey ATTORNEY [email protected] Nathan is a skilled consumer lawyer who handles cases and trials all over Wisconsin. Phone consultations are always free and welcomed. Nathan has helped clients receive large jury verdicts and settlements stemming from consumer law violations, and is ready and able to assist.

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