In 2010, Wisconsin bankruptcies increased by 9.4 percent from 2009 with 29,989 total bankruptcies filed in the state. Approximately 81 percent of bankruptcies filed in the state in 2010 were Chapter 7 bankruptcies. In addition, according to the American Bankruptcy Institute, total personal bankruptcies in the United States increased by 9 percent reaching 1.53 million consumer bankruptcies.
“The way this economy has gone, it has brought down people who have had consistent incomes for most of their adulthood. It’s really brought down a lot of people who never thought they’d be in this spot,” stated one bankruptcy attorney in Wisconsin. Home and business foreclosures, along with unemployment, have led thousands in Wisconsin to file for personal bankruptcy. Individuals whose professions are based in real estate, construction and other domestic work have been hit especially hard.
To learn more about the benefits of filing for Chapter 7 bankruptcy, contact the Milwaukee chapter 7 bankruptcy attorneys of DeLadurantey Law Office, LLC at 414-377-0518 today.