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Exploring Section 128 As An Alternative To Bankruptcy

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A Wisconsin State Statute called Section 128 is a popular non-bankruptcy debt relief option. It allows Wisconsin citizens to consolidate their debts into one low monthly payment they can afford and gives them three years to pay it off. Because Section 128 does not involve bankruptcy, it is an attractive option for many.

Although Section 128 is not bankruptcy and will not be reported on your credit report as a bankruptcy, it offers protection that is similar to bankruptcy in that a Court order is issued that protects you from your creditors. This order is binding and prevents creditors from garnishing your wages or attaching your assets and prevents interest and late fees from accumulating. The order is issued by a State Circuit Court Judge.

The Section 128 process is not as complicated as bankruptcy and is relatively hassle-free. Fewer forms need to be filed and it is likely you will never be required to appear in Court. You are not required to disclose your assets and won't have to worry about losing any of your non-exempt property to a Trustee. Also, you are not required to disclose all your debt when you file Section 128 and can exclude debts owed to family members whom you still wish to pay or credit cards you still want to use.

If you looking for a hassle-free approach to consolidating your debt, call Milwaukee bankruptcy lawyer: Attorney Andrew Sapinski today at (888) 782-9423. Sapinski Law Office, S.C. regularly files Section 128 payment plans throughout Wisconsin. We have locations in Elm Grove, Appleton, Milwaukee, and Racine.

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