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...
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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 16, 2012
- 2 min
The Role of the “Trustee” in Chapter 11
Unlike under other Chapters of the Bankruptcy Code, Chapter 11 is unique in that there is no initial appointment of a trustee. In...
Lynn Wartchow
- Apr 10, 2012
- 2 min
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, 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...
Lynn Wartchow
- Mar 9, 2012
- 3 min
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...
Lynn Wartchow
- Feb 17, 2012
- 3 min
Collection on the Judgment – What to Know if You Are Facing a Wage Garnishment
A frequent impetus for a Chapter 7 or Chapter 13 consumer bankruptcy filing is when a person is being actively collected on—usually in...
Lynn Wartchow
- Feb 14, 2012
- 2 min
Sales Tax Obligations and Chapter 11 Business Reorganization
Minnesota Department of Revenue levies sales tax on any number of transactions common to small businesses, most often being on sales of...
Lynn Wartchow
- Dec 21, 2011
- 2 min
What to Bring to the Initial Bankruptcy Consultation
Your first consultation with a bankruptcy attorney will cover a lot of ground, and the goal is for you leave with all the information...
Lynn Wartchow
- Dec 8, 2011
- 2 min
Recognize the Circumstances that Often Lead to Chapter 11
The factors commonly precipitating a Chapter 11 business proceeding are numerous: lawsuits filed by unsecured creditors, reluctance of...
Lynn Wartchow
- Nov 4, 2011
- 2 min
Bankruptcy is Your Constitutional Right
We all are familiar with the more renowned articles and amendments of the US Constitution, such as Article Six that establishes the...
Lynn Wartchow
- Oct 11, 2011
- 3 min
Intro to Chapter 11 Business Reorganization: The Process, Time and Fees Involved
Many initial calls regarding a potential Chapter 11 business reorganization seek just the basic information: Does my business have to go...
Lynn Wartchow
- Oct 11, 2011
- 3 min
Chapter 13: Not Always a Gloomy Diagnosis in Bankruptcy
Inevitably, many people will be told they do not qualify for Chapter 7 and must do a Chapter 13 if they want to file bankruptcy. Often I...
Lynn Wartchow
- Oct 7, 2011
- 2 min
While Bankruptcy Are Filings Down, Debts Are Still Up—Get Practical Bankruptcy Advice Sooner Rather
According to the National Association of Consumer Bankruptcy Attorneys, the number of people filing for bankruptcy in 2011 has dropped as...
Lynn Wartchow
- Oct 7, 2011
- 2 min
What makes a Chapter 11 Business Reorganization a “Work of Art”?
A Chapter 11 reorganization proceeding facilitates a business’s ability to actually stay in business. A successful Chapter 11 is a...
Lynn Wartchow
- Sep 23, 2011
- 2 min
Bankruptcy May Increase Your Options in Foreclosure
Foreclosure is a common predicament faced by many people filing bankruptcy, and is an issue that affects homeowners at every income...
Lynn Wartchow
- Sep 21, 2011
- 2 min
Popular misconception: Chapter 13 is not necessarily a 100% repayment plan
While Chapter 13 is in many ways a debt repayment program, it is not necessarily a 100% repayment plan. This is a surprisingly common...
Lynn Wartchow
- Sep 16, 2011
- 2 min
You’ve Just Been Served with a Lawsuit, Now What?
It’s common for people who have consumer debts such as credit cards and medical bills to be sued and have judgments entered against them...
Lynn Wartchow
- Sep 16, 2011
- 3 min
When sales tax threatens a business: Chapter 11 may be the answer
When I became aware of a popular local restaurant and bar recently close its doors due to unpaid sales tax and subsequent state shutdown,...
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