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    Lynn Wartchow
    • Mar 26, 2020
    • 3 min

    Changes to Chapter 13 Plans due to COVID-19 in the CARES Act...

    Changes to Chapter 13 Plans due to COVD-19 in the CARES Act: You may be able to modify your existing chapter 13 plan to reduce your...
    Lynn Wartchow
    • Mar 25, 2020
    • 3 min

    Can I still file bankruptcy during COVID-19?...

    Can I still file bankruptcy during COVID-19? What is different about bankruptcy during this National Emergency? Yes, the Minnesota...
    Lynn Wartchow
    • Jul 8, 2019
    • 2 min

    The 2019 Chapter 13 Debt Limits effective April 1, 2019

    *Applies to case filed in 2019, 2020, 2021 and through April 2022. Effective April 1, 2019, the debt limits for filing chapter 13...
    Lynn Wartchow
    • Oct 25, 2018
    • 2 min

    The Rise in Bankruptcy Filings for Older Individuals and Seniors

    Since 2007, bankruptcy filings have doubled for those aged 55 and over. Despite being at a time in life where their children are out of...
    Lynn Wartchow
    • Aug 21, 2018
    • 2 min
    Chapter 13

    When Chapter 13 is a Better Option than Chapter 7

    Chapter 13 may not be your first choice for a bankruptcy, and many people wrongly assume that the monthly chapter 13 plan payments is...
    Lynn Wartchow
    • Jul 1, 2018
    • 3 min

    Inherited IRA’s May Be Exempt in Bankruptcy, Depending on from Whom the IRA was Inherited

    One of the greatest areas of controversy regarding the exemption for individual retirement accounts (IRAs) is the inherited IRA. If a...
    Lynn Wartchow
    • Sep 16, 2017
    • 4 min
    Chapter 11 Reorganization

    What Partners and Shareholders Should Know about Personal Exposure When Putting Their Business in Ch

    In many small and medium-sized businesses, one or more of the partners or shareholders—also called equity security or equity interest...
    Lynn Wartchow
    • Apr 4, 2017
    • 4 min

    Pros and Cons of Small Business Chapter 7 Bankruptcy

    It happens to many small businesses: Operations and sales start slumping. While key creditors may offer forbearance agreements or even...
    Lynn Wartchow
    • Sep 26, 2016
    • 2 min
    Chapter 7

    Can a Divorcing Couple File a Joint Bankruptcy? And when it’s just not a good idea.

    Divorcing couples can file a joint bankruptcy proceeding so long as they are still married on the date the bankruptcy petition is filed...
    Lynn Wartchow
    • May 13, 2016
    • 3 min
    Credit Issues

    Why am I having a hard time refinancing after bankruptcy?

    You filed a bankruptcy case to resolve your debts. So why aren’t you qualifying for a refinance on your home mortgage? The title company...
    Lynn Wartchow
    • Apr 17, 2016
    • 3 min
    Credit Issues

    Qualifying for a Mortgage After (or During) Bankruptcy: What does it take and how long will I wait?

    It should come as no surprise that qualifying for a new mortgage or refinance with a bankruptcy in your credit history is likely to...
    Lynn Wartchow
    • Apr 13, 2016
    • 2 min
    Chapter 13

    The 2017 Chapter 13 Debt Limits (valid through 2019)

    For the 2019 debt limits effective April 1, 219, see here: The 2019 Chapter 13 Debt Limits effective April 1, 2019 Effective April 1,...
    Lynn Wartchow
    • Mar 16, 2016
    • 2 min
    The Bankruptcy Process

    2016 Minnesota Median Income effective for bankruptcy cases commenced on April 1, 2016 or later (est

    Median income is a critical measure in bankruptcy upon which the ‘Means Test’ calculation is largely based to determine whether a debtor...
    Lynn Wartchow
    • Oct 9, 2015
    • 2 min
    Chapter 7

    2015 Minnesota Median Income effective for bankruptcy cases commenced on/after November 1, 2015 and

    Median income is a critical measure in bankruptcy upon which the ‘Means Test’ calculation is largely based to determine whether a debtor...
    Lynn Wartchow
    • Sep 29, 2015
    • 3 min
    Chapter 13

    Minnesota Bankruptcy Courts Now Allow a Chapter 13 Debtor to Compel a Mortgagee Bank to either Forec

    On September 1, 2015, the honorable Judge Michael Ridgway of the US Bankruptcy Court for the District of Minnesota joined several other...
    Lynn Wartchow
    • May 19, 2015
    • 3 min
    Chapter 13

    Debt Consolidation vs. Debt Settlement vs. Bankruptcy? What Can You Expect from Each and Which Optio

    When facing mounting debts that cannot be repaid according to the regular monthly terms, one should consider all options for debt...
    Lynn Wartchow
    • Apr 21, 2015
    • 2 min
    Student Loan

    Fairness for Struggling Students Act of 2015: Bankruptcy Relief may be on the Horizon for Private St

    A legislative proposal is finally pending with Congress as a first step to help ease the student loan crisis. Sponsored by Sen. Durbin of...
    Lynn Wartchow
    • Apr 14, 2015
    • 3 min
    Student Loan

    More on the National Crisis of Defaulted Student Loans: the Income Based Repayment (IBR) Program is

    The student loan debt predicament is to the 2010s what the foreclosure/subprime lending crisis was to the 2000s. Student loans are a...
    Lynn Wartchow
    • Jan 16, 2015
    • 4 min
    Chapter 11 Reorganization

    The Archdiocese of St. Paul and Minneapolis Files Chapter 11 Bankruptcy...

    The Archdiocese of St. Paul and Minneapolis Files Chapter 11 Bankruptcy: A Review of the First Day Filings For more detailed discussion...
    Lynn Wartchow
    • Dec 18, 2014
    • 4 min
    Foreclosure

    Congress Extends the Income Exclusion for 1099...

    Congress Extends the Income Exclusion for 1099 ‘Forgiven’ Mortgage Debt to Tax Years 2015 and 2016 For a more detailed discussion on tax...
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