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Chapter 128 Alternative
What is Chapter 128?
Chapter 128 is a voluntary debt consolidation plan through the Wisconsin Circuit Court system. It is not a consumer credit counseling plan and it is not a bankruptcy. The maximum repayment period for a Chapter 128 is three years (36 months). The majority of our fees for representation can also be included in your Chapter 128 repayment plan so you do not have to pay them all upfront before your case is filed.
How is Chapter 128 different than bankruptcy?
There are three major differences: First, bankruptcy is Federal. Chapter 128 is strictly a State of Wisconsin plan. Second, Chapter 128 is the opposite of bankruptcy: you are repaying the debts. Finally. unlike a bankruptcy where all debts generally have to be included, Chapter 128 allows the filer to pick and choose the debts to be included. Also the purpose of Chapter 128 is to repay debts and not interest, thus the filer can generally repay debts without having to pay future interest, late fees, and the like.
So if Chapter 128 is not bankruptcy how does it protect me?
Similar to a bankruptcy, Chapter 128 affords you protection from the creditors you include. For example, Chapter 128 stops and prevents garnishments and executions.
For more informantion please contact us
Toll Free: 866.235.7100
Headquarters: 608.242.9700
Fax: 608.242.8788