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...
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Lynn Wartchow
- Oct 9, 2015
- 2 min
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
- May 19, 2015
- 3 min
Debt Consolidation vs. Debt Settlement vs. Bankruptcy? What Can You Expect from Each Option
When facing mounting debts that cannot be repaid according to the regular monthly terms, one should consider all options for debt...
Lynn Wartchow
- Jul 17, 2014
- 3 min
More on Divorce and Bankruptcy...
More on Divorce and Bankruptcy: How do Child Support, Spousal Support (Alimony / Maintenance) and Property Settlements Impact either...
Lynn Wartchow
- Jun 30, 2014
- 1 min
What are the Federal Bankruptcy Exemptions in Minnesota and Which Assets are Protected?
When filing either chapter 7 or chapter 13 bankruptcy, each individual debtor is allowed to exempt a limited amount of equity in real...
Lynn Wartchow
- Feb 28, 2014
- 2 min
File Bankruptcy to Protect Your Wages and Other Earnings from Garnishment
From the moment that a bankruptcy petition is filed, the “automatic stay” is invoked and this automatic stay of legal proceedings affords...
Lynn Wartchow
- Jan 9, 2014
- 3 min
Typical Questions Asked at the Chapter 7 Meeting of Creditors
The Meeting of Creditors is typically the only mandatory appearance most debtors will have to make in their bankruptcy proceeding. While...
Lynn Wartchow
- Jun 26, 2013
- 2 min
What the Supreme Court Decision Overturning DOMA in United States v. Windsor Means for Bankruptcy La
In a 5-to-4 decision in United States v. Windsor, the U.S. Supreme Court ruled today that married same-sex couples are now entitled to...
Lynn Wartchow
- Jun 25, 2013
- 2 min
Converting from Chapter 7 to Chapter 13: What’s Involved and Why Would You Convert?
Conversion to Chapter 13 from Chapter 7 isn’t a death sentence for your bankruptcy case (see Chapter 13: Not Always a Gloomy Diagnosis in...
Lynn Wartchow
- Feb 15, 2013
- 3 min
What Happens after the 341 Meeting of Creditors is Over?
The answer to this depends on whether you have filed Chapter 7 or Chapter 13 bankruptcy. (Chapter 11 individual debtors also are required...
Lynn Wartchow
- Dec 12, 2012
- 2 min
Will My Assets Be Protected in Bankruptcy? What Are the Bankruptcy Exemptions?
Most people who file for bankruptcy are able to protect most if not all of their assets, including cash bank accounts, household goods...
Lynn Wartchow
- Nov 30, 2012
- 3 min
Homeowners Associations and Bankruptcy: How Does Bankruptcy Affect My Condo or Townhome and My Assoc
The prevalence of condo and townhome development in the mid-2000s throughout Minneapolis and the suburbs was hit especially hard by the...
Lynn Wartchow
- Sep 19, 2012
- 2 min
What is the Median Income in Minnesota and How Does is Factor into Chapter 7 Bankruptcy?
Qualification for Chapter 7 bankruptcy is largely determined by comparing one’s household income to the median income for their state....
Lynn Wartchow
- Aug 6, 2012
- 3 min
What Should I Expect at the 341 Bankruptcy Meeting of Creditors?
If you have done basic research into the bankruptcy process, you will know that about one month after filing a bankruptcy petition and...
Lynn Wartchow
- Jul 24, 2012
- 3 min
Foreclosure in Minnesota: Know the Process, Timeline and How Bankruptcy Can Help
Home foreclosures in Minnesota are common and arguably are even on the rise despite an improving real estate market. In April 2012, the...
Lynn Wartchow
- Jul 10, 2012
- 2 min
What is the “Means Test” and Why Does it Matter in Bankruptcy?
The “Means Test” was one of the major and most controversial additions to consumer bankruptcy law that occurred as part of the 2005...
Lynn Wartchow
- Jun 21, 2012
- 2 min
What is the “Credit Counseling” Requirement to File Bankruptcy?
A credit counseling course must be completed before an individual can file bankruptcy. This course basically goes through your budget and...
Lynn Wartchow
- May 9, 2012
- 3 min
Bankruptcy and Divorce: What Should Come First?
Divorce is often a precursor to bankruptcy, for either one or both of the divorcing spouses find themselves in need of discharging debts...
Lynn Wartchow
- Apr 30, 2012
- 3 min
Chapter 7 vs. Chapter 13 Bankruptcy: A Primer
Most often the people that come to me for help in bankruptcy do not initially know the difference between Chapter 7 and Chapter 13...
Lynn Wartchow
- Apr 6, 2012
- 2 min
Defined: The Bankruptcy “Trustee” and the “United States Trustee”
The terms “trustee” and “United States Trustee” sound similar and often encompass similar objectives, however the role of the trustee in...
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