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Lynn Wartchow
Jun 25, 20132 min read
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
Nov 30, 20123 min read
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
Nov 15, 20123 min read
Managing the Business During Chapter 11: Reporting and Other Requirements
When a business files Chapter 11, it becomes a “debtor-in-possession” of its own affairs as a fiduciary to the bankruptcy estate. What...
Lynn Wartchow
Oct 31, 20122 min read
Bankruptcy and Divorce: Some Payments in a Divorce Decree May be Dischargeable in Chapter 13
The rule of thumb is that bankruptcy will discharge most unsecured debts that are not taxes or domestic support obligations (which are...
Lynn Wartchow
Sep 4, 20122 min read
What is Individual Chapter 11 Bankruptcy and Why Would I File an Individual Chapter 11?
The vast majority of individuals who file bankruptcy chose to do so under either Chapter 7 or Chapter 13, which are the most common forms...
Lynn Wartchow
Aug 15, 20122 min read
What are the Debt Limits for Chapter 13 Bankruptcy?
Click here to see the current Chapter 13 Debt Limits effective April 1, 2016 and valid through 2019. As of the date of this post, the...
Lynn Wartchow
Aug 6, 20123 min read
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, 20123 min read
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, 20122 min read
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
Jul 3, 20122 min read
The Fair Debt Collection Practices Act and How It Protects You
The Fair Debt Collection Practices Act (“FDCPA”) is pro-consumer legislation that was originally enacted in 1978 for the purpose of...
Lynn Wartchow
Jun 21, 20122 min read
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
Jun 7, 20122 min read
Common Reasons for Filing Chapter 13 Bankruptcy
For some people, the bankruptcy code and rules may dictate that you simply do not qualify for Chapter 7, in which case the alternative is...
Lynn Wartchow
May 9, 20123 min read
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 10, 20122 min read
When Will I Owe a “Deficiency” after Foreclosure in Minnesota? It Depends.
Under some circumstances after foreclosure, a deficiency may still be owed on a foreclosed property. A deficiency or “deficiency...
Lynn Wartchow
Apr 6, 20122 min read
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...
Lynn Wartchow
Mar 9, 20123 min read
Received a Form 1099-C on Foreclosed Home? You May Qualify for the Mortgage Forgiveness Exclusion to
If you receive a Form 1099-C reporting ‘debt cancellation’ income after a home foreclosure, you may qualify for the Mortgage Forgiveness...
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