The total number of bankruptcies filed in Wisconsin in the first nine months of this year were 9.5 percent lower than in the same time period last year.
So far this year, 21,167 bankruptcies have been filed in the state of Wisconsin. In the first three quarters of 2010, 23,401 bankruptcies were filed across the state.
The most common type of bankruptcy filing has been Chapter 7 bankruptcy. Chapter 7 bankruptcy allows consumers to eliminate certain dischargeable debts like credit card debt, personal loans, leases, business debts, and more.
Bankruptcy experts say they have seen an increase in small business owners turning to Chapter 7 bankruptcy when their businesses experience financial troubles.
If you or someone you know is seeking advice on filing for Chapter 7 bankruptcy, contact the Milwaukee Chapter 7 bankruptcy lawyers of DeLadurantey Law Office, LLC at 414-377-0518 to learn more about how we can help you.