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Wisconsin Bankruptcy Laws

Filing Chapter 7 and Chapter 13 in Wisconsin

Those drowning in debt may find help available in the form of Wisconsin’s bankruptcy laws. The laws are designed to provide the serious relief needed to wipe the slate clean and get a new beginning.

After you become familiar with the bankruptcy process, you may be able to decide with confidence which debt-relief option may best suit you. For more information on Wisconsin’s laws, continue reading.

To start moving towards a fresh start, complete the form on this page and we’ll connect you with a Wisconsin bankruptcy lawyer near you for free.

Wisconsin Bankruptcy Law & Your Property

Wisconsin bankruptcy law gives you two main avenues for relief: Chapter 7 and Chapter 13. They are each designed to help people in slightly different circumstances.

For example, Chapter 7 is designed for individuals with lower income with debt mostly stemming from credit cards, medical bills, personal loans and payday loans. This type of debt is called “unsecured debt,” and may be entirely discharged during a Chapter 7 filing.

Chapter 7 bankruptcy also offers some property protection, as outlined by the Wisconsin bankruptcy exemptions. These exemptions outline the types and amounts of your property that are protected and may not be sold at a liquidation sale.

Homestead

  • Up to $75,000 worth of a home.

Wages

  • 75 percent of your income.

Automobiles

  • One motor vehicle worth up to $4,000, plus any unused amount of the personal property exemption.

Personal Property

  • Up to $12,000 worth of household goods, furnishings, clothing, keepsakes, jewelry, appliances, books, musical instruments, firearms, sporting goods, animals or other personal property.
  • Up to $15,000 worth of equipment, inventory, farm products and professional books used in a trade or business.

Homeowners that suffered a temporary setback, perhaps a job loss or personal injury, often find that Chapter 13 can help them recover quickly while protecting their home and other belongings.

Chapter 13 "reorganization" bankruptcy will order, combine and secure your debt, and may be able to reduce it. Then, you’ll make one monthly payment to a court-appointed trustee each month for the duration of your case, which could be 3-5 years. You’ll make this single payment instead of several each month, and you won’t have to worry about fines, fees or harassing phone calls.

Also, during your case, you’ll be protected by the automatic stay provision of Wisconsin’s bankruptcy laws which is designed to prevent foreclosure, repossession and lawsuits.

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Talk to a Wisconsin Bankruptcy Lawyer Today

If you need more information about the ways filing bankruptcy in Wisconsin can reform and retire your debt, a local bankruptcy can answer your questions.

If you’re ready to take action, and want to get the most out of the tools available through bankruptcy, then a local attorney can help you get started, too.

A Wisconsin bankruptcy attorney can take you through the ins and outs of your case. This process can begin right away.

Start getting real control of your debt today. Speak with a local Wisconsin bankruptcy lawyer by completing our free bankruptcy case evaluation form on this page or calling, toll free 877-349-1309.

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Note: Keep in mind bankruptcy laws can be complex. If you need legal advice or want to fully understand how these Wisconsin bankruptcy laws may affect you, please speak with a local Wisconsin attorney about filing bankruptcy. Laws may have changed since our last update. For the latest information on your state's bankruptcy laws, speak to a local Wisconsin bankruptcy lawyer.


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