If you live in Wisconsin, you already know that our state is as unique as those who populate it. Unfortunately, there are some life circumstances in which we are not unique, such as suffering with financial difficulties. Just like other people living in the U.S., Wisconsin residents can experience overwhelming debt.

For many, bankruptcy is the logical and most effective solution, but some of us may benefit from a bankruptcy alternative. Once again, Wisconsin reveals it uniqueness by offering residents another option that no one else in the nation can utilize. It is called Chapter 128 and it is best characterized as a personal debt relief program. Further, it is not bankruptcy and will have no effect on your credit rating.

Some additional benefits of a Chapter 128 filing include the following.

• Puts a fast stop to creditor harassment and collection efforts
• Is a viable and effective option for those who do not qualify for bankruptcy
• Provides a way to repay 100 percent of your debts
• Gives eligible parties three years in which to pay off their creditors
• Unlike bankruptcy, Chapter 128 protects your privacy and your reputation
• It is typically more affordable than filing a bankruptcy

Like most debt relief solutions, filing a Chapter 128 has a few downsides. For example, you cannot reduce or discharge your debts under this program. However, it is often the best choice for many residents mired in debt. At the very least, it is worth talking about with a qualified bankruptcy attorney serving Wisconsin residents. Learn more about Chapter 128 and other debt relief options on our website and our blog.