What exactly is Area 128?
This excellent Wisconsin statue enables Wisconsin wage earners to combine many kinds of personal debt. Through part 128 you can easily pay back creditors – including charge cards – without interest, without belated costs, and without bankruptcy. Area 128 requires you to definitely spend these responsibilities within a time period of 3 years.
The next types of debts are usually consolidated through 128:
- Bank cards
- Unsecured unsecured loans
- NSF checks
- Pay day loans
- Healthcare bills
In the event that you incorporate a creditor in a 128, the total amount your debt will freeze and can maybe not increase because of accruing interest or belated costs.
- Am I going to spend interest from the financial obligation we consolidate through part 128? – No.