Filing for Bankruptcy in Wisconsin

Learn about filing for bankruptcy in the state of Wisconsin.

Debt can feel like a crushing, soul-sucking entity that begins to take over your life. Phone calls from creditors at home and work, letters threatening lawsuits, even the fear of foreclosure can drive a person to desperate action. For these reasons, bankruptcy quickly becomes a viable option. The Wisconsin bankruptcy courts enable a citizen to file for three different types of personal bankruptcy to alleviate the burden of debt and provide him a clean slate.

Things You'll Need

• Social Security number
• Proof of income
• List of assets
• List of living expenses
• Copies of all contractual obligations, such as leases or mortgages
• List of debts with creditor information
• Debt repayment plan--Chapters 12 and 13 only
• Court filing fees

Instructions

1. Collect the financial information necessary to complete all the forms required by the Wisconsin bankruptcy courts. This includes, but is not limited to, a list of all your assets, proof of income, a list of your monthly expenses, copies of all your contractual obligations, a list of all your debts with totals and creditor contact information as well as your debt repayment plan for chapter 12 and 13 filings. Use this information to fill out all the necessary forms, which vary according to the chapter you are filing and can be found at the Wisconsin bankruptcy court website.

2. Visit your bankruptcy district court to file your bankruptcy petition and pay your court fees, which vary according to chapter filed. Wisconsin has two districts in the state, Western and Eastern. The Western district office is in Madison and the Eastern district office is in Milwaukee. If you are not sure which district serves you, check the Wisconsin bankruptcy court websites to determine your assigned district.

3. Attend the arranged meeting with the Wisconsin court-appointed trustee and your creditors' representative. This meeting is generally held 20 to 50 days after filing for bankruptcy. Address all questions and concerns the trustee or your creditors pose regarding your debts or the repayment plan for chapter 12 or 13 filings.

4. Make your first payment to the Wisconsin court's trustee within one month or 30 days of the creditor meeting despite the repayment approval's status for chapter 12 and 13 filings.

   Assist the trustee with any questions or issues the trustee has in liquidating your assets for chapter 7 filings.

5. Show up for the Wisconsin bankruptcy court's hearing of your chapter 12 or 13 debt repayment plan, which federal law requires to occur within 45 days of the creditor meeting. Continue with your payments to the trustee if the repayment plan is approved. If it is denied, choose to either appeal the decision or convert your chapter 12 or 13 bankruptcy to chapter 7. The fees associated with both options are listed on the Wisconsin bankruptcy court websites.

Tips & Warnings

• Consider consulting a lawyer, as filing for bankruptcy is an intricate and detailed process with many caveats and exceptions.

References

• United States Courts: Chapter 7
• United States Courts: Chapter 12
• United States Courts: Chapter 13

Resources

• Bankruptcy Court for the Western District of Wisconsin
• United States Bankruptcy Court Eastern District of Wisconsin