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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 30, 20123 min read
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, 20122 min read
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, 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...
Lynn Wartchow
Feb 17, 20123 min read
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, 20122 min read
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, 20112 min read
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, 20112 min read
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, 20112 min read
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, 20113 min read
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, 20113 min read
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, 20112 min read
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, 20112 min read
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, 20112 min read
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, 20112 min read
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, 20112 min read
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, 20113 min read
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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