The United States government allows bankruptcy as a means to protect debtors from the unfair persecution by their creditors. Filing for bankruptcy can help people protect themselves and their families by either discharging or paying off their debt over time. Unfortunately, many people do not take proper advantage of bankruptcy because they wrongly assume that it is uncommon or outside of their grasp. Being familiar with bankruptcy statistics in Wisconsin may be the first step towards overcoming the debt you face.
In 2002, there were a total of 21,063 Chapter 7 filings in the state of Wisconsin alone, as well as 4,139 Chapter 13 filings. As the economy continues to struggle, these numbers may be on the rise. The following are relevant statistics for bankruptcy in Wisconsin:
- Madison 2009: 4,174
- Madison as of May, 2010: 1,977
- Eau Claire: 4,694
- Eau Claire as of May, 2010: 2,311
There are thousands of bankruptcies in the Wisconsin area every year. Bankruptcy may be the best way to protect yourself, your family, and your assets when you are seriously in debt.
If you or someone you love is considering filing for bankruptcy, the Milwaukee bankruptcy attorneys of the DeLadurantey Law Office, LLC may be able to help. Contact us today by calling 414-377-0518 to learn more about what we may be able to do for you.