Legal Question in Bankruptcy in Wisconsin

Obviously you are kidding about the amount, but anyone who is over their head in debt owes it to themselves to consult with an experienced bankruptcy lawyer. Even after bankruptcy reform, most people can achieve a great deal of relief for a small expenditure in legal fees and not all that much change in their credit rating (assuming that they have already defaulted on some cards, their rating will already be very low even without bankruptcy and often cannot get much lower). Since bankruptcy reform, those whose income exceeds the state average (median) for their family size are sometimes forced to pay part of their debt back via a chapter 13 plan. However, even higher income debtors can often escape chapter 13 this and still use chapter 7 (where nothing needs to be paid back) if they also have large mortgage or car payments which use up much of their income. Obviously, everyone's situation is different depending upon individual circumstances, so the most important advice I can give you here is to immediately schedule an appointment with an experienced bankruptcy lawyer to go over yours with you and advise you. Another thing which a good bankruptcy lawyer can assist you with is debt negotiation, assuming that you have a significant lump sum of cash available to offer to creditors in return for a final settlement of your debt. My comments here are not legal advice, nor do they create an attorney client relationship between us. However, you are welcome to contact my office to discuss retaining me or to set up a free initial consultation at my office in Racine.