Chapter 13 bankruptcies and new filings on the rise

Despite recent declines in the number of chapter 7 personal bankruptcies being filed across the country, chapter 13 bankruptcy filings and new bankruptcy filings are on the rise in Wisconsin.

According to statistics release last week by the U.S. Bankruptcy Court for the Eastern District of Wisconsin in Milwaukee, this year’s chapter 7 bankruptcy filings are down by 8.5 percent from last year.

However, statistics show that more affluent Wisconsin residents are choosing to file for chapter 13 in an attempt to avoid home foreclosure.  Year-to-date, chapter 13 bankruptcy filings have increased by 9 percent to a total of 2,158.  Furthermore, the number of chapter 13 personal bankruptcy filings has increased in Wisconsin in 10 out of the past 12 months.

Lastly, statistics released by the bankruptcy court revealed that new bankruptcy filings in Wisconsin are still higher than they were in 2008 and 2009.

If you would like to learn more about filing for chapter 13 bankruptcy in Milwaukee, contact the Milwaukee chapter 13 bankruptcy attorneys of DeLadurantey Law Office, LLC by calling 414-377-0518 today.