Wisconsin STATE LAW

WAGE GARNISHMENT EXEMPTION:

– 80 percent of net earnings

MAXIMUM INTEREST RATE:

– Legal: 5%
– Judgment: 12%

STATUTE OF LIMITATIONS ON ENFORCEMENT:

– Open Account (credit card): 6 years
– Written Contract: 6 years
– Domestic Judgment: 20 years
– Foreign Judgment: 20 years

BAD CHECK LAW DAMAGES:

– Amount of check plus actual damages and exemplary damages up to three times value of check, but not to exceed $300

tape recording

– One party state

BANKRUPTCY PROPERTY EXEMPTIONS:
(Wisconsin Statutes Annotated)

– Can use either the state exemptions below or the federal exemptions
– The State of Wisconsin has exempted the property and income below from seizure by the bankruptcy court to pay creditors.

Real Property:

– Real property including condo, house trailer, mobile home or cooperative up to $40,000; property size must be at least 1/4 acre but not more than 40 acres; proceeds from sale are exempt for two years [815.20]
– Lease or interest in housing co–op, up to real estate exemption amount [182.004(6)]

Personal Property:

– Burial plot, unlimited amount [815.18(3)(a)]
– Inventory, equipment, farm products, books and tools of trade up to $7,500 [815.18(3)(b)]
– Appliances, furnishings and household goods, animals, books, clothing, firearms, jewelry, sporting goods, keepsakes and musical instruments and any other personal property held for personal use, up to $5,000 total [815.18(3)(d)]
– Motor vehicle to $1,200 [815.18(3)(g)]
– Wrongful death recoveries, amount needed for support [815.18(3)(i)(1)(b)]
– Personal injury recoveries up to $25,000 [815.18(3)(i)(1)(c)]
– Lost future earnings recoveries, amount needed for support [815.18(3)(i)(1)(d)]
– Bank accounts up to $1,000 [815.18(3)(k)]
– Plus any unused consumer goods exemption; food and fuel; bank deposits to $1,000; beds, clothing, books, pictures, radio, TV, burial place, church pew, jewelry, patents, cooking utensils and furniture to $5,000; alimony and child support; wrongful death or personal injury recoveries needed for support

Insurance / Annuities:

– Fraternal society benefits, unlimited amount [614.96]
– Life insurance proceeds if held in trust by insurer and if policy prohibits proceeds from being used to pay creditors [632.42]
– Federal disability insurance, unlimited amount [815.18(3)(d)]
– Insurance proceeds for exempt property destroyed within two years of filing bankruptcy, up to amount of exemption [815.18(3)(e)]
– Unmatured life insurance contract, unlimited amount, but up to $4,000 if debtor is the insured or a debtor is dependent upon [815.18(3)(f)]
– Life insurance proceeds if beneficiary is a dependent of insured, amount needed for support [815.18(3)(i)(1)(a)]

Pensions / Retirement Plans:

– Public employees, unlimited amount [40.08(1)]
– Qualifying municipal employees, unlimited amount [66.81]
– Firefighters and police officers who work in cities with 100,000 or more in population, unlimited amount [815.18(3)(e) and (f)]
– Private and public retirement benefits, amount needed for support [815.18(3)(j)]
– Military pension, unlimited amount [815.18(3)(n)]

Public Benefits / Entitlements:

– Workers' compensation, unlimited amt [102.27]
– Veterans' benefits, unlimited amount [45.35(8)(b)]
– Aid to families with dependent children and other social service payments, unlimited amt [49.96]
– Other social services payments; unemployment compensation, unlimited amt [108.13]
– Crime victims compensation, unlimited amt [949.07]

Wages:

– 75% of earned but unpaid wages [815.18(3)(h)]

Miscellaneous:

– Alimony and child support, amount needed for support [815.18(3)(c)]
– Business partnership property, unlimited amount [178.21]