Ask Experts Questions for FREE Help !
    mwarren's Avatar
    mwarren Posts: 1, Reputation: 1
    New Member

    Apr 30, 2008, 07:58 AM
    Wisconsin law
    In Wisconsin there is a chapter 7 13 also is there a 126 or is it 128
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
    Uber Member

    Apr 30, 2008, 03:52 PM
    Quote Originally Posted by mwarren
    in wisconsin there is a chapter 7 13 also is there a 126 or is it 128

    Chapter 7/23 are NOT Wisconsin laws, they are part of the Federal Bankruptcy Code.

    I have no idea what 126 or 128 might be - could be Wisconsin law. I don't know. What do you think they cover?
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692

    Apr 30, 2008, 04:39 PM
    There are chapter 7 and 13 which is for individuals

    There is also chapter 11 ( business reorganization) and 12 bankruptcy for individual farms.

    I have no idea what a 126 or 128 is, unless those are numbers in the state code that perhaps deal with exemptions, but bankrutpcy laws are Federal laws with the state writing the exemption law
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
    Uber Member

    May 1, 2008, 04:50 AM
    Quote Originally Posted by mwarren
    in wisconsin there is a chapter 7 13 also is there a 126 or is it 128

    OK - found it! Chapter 126 is an Ag and Marketing Law - probably not what you're looking for. Chapter 128 is a State of Wisconsin Debt Consolidation Plan. I called an Attorney friend in Wisconsin and she said in her practice the people filing under 128 "usually" do not file for Bankruptcy because of assets which they don't want to forfeit.

    The info is (sorry, but I don't know how to post a site:

    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 bankruptcy.

    There are two major differences: Bankruptcy is Federal. Chapter 128 is strictly a State of Wisconsin plan. Also, Chapter 128 is the opposite of bankruptcy: you are repaying the debts.

    The Federal Government overhauled the bankruptcy laws, which went into effect October 17, 2005, making it much more difficult to file bankruptcy. This does not effect Chapter 128 proceedings and in fact may make it a much more attractive option to debtors: if you do not qualify for bankruptcy, you may be able to file a Chapter 128 instead.

    The following is a partial list of the advantages of a Chapter 128:

    Is unique to the State of Wisconsin and is open to all Wisconsin residents.
    Unlike bankruptcy, you are not required to list assets and property is not in jeopardy.
    You do not need to list all the debts you owe, unlike bankruptcy.
    A very attractive alternative if you do not qualify under the new bankruptcy laws.
    Stops garnishments.
    Debt gets repaid.
    Not listed in newspapers.
    Interest on debts is uncollectible.
    Easy and inexpensive to file.
    May file more than once.
    No Court appearances."

Not your question? Ask your question View similar questions


Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.

Check out some similar questions!

Wisconsin Divorce [ 1 Answers ]

My question is for my girl friend she is married with a 16 month old she has not bin happy with him for a very long time and the reason she is leaving him is because he is a bad father. Now as for my questions my first one is How dose she go about getting some sort of legal aid in WI dew to the...

Wisconsin shooting [ 80 Answers ]

-----------------------------------------,,2185780,00.html Five killed in Wisconsin shooting Staff and agencies Sunday October 7, 2007 Guardian Unlimited

Getting out of my Lease in Wisconsin [ 5 Answers ]

I have a question about getting out of my lease. I live in Wisconsin and recently sign a lease for a year. I am having problems with my landlords, They have been saying things and then backing out on them. I made the mistake by not getting anything in writing, but I am tired of dealing with them. I...

View more questions Search