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There are a number of signs that you should be reviewing your financial situation and considering bankruptcy. They include the following:

  • Your wages or bank accounts are being garnished.
  • Your hard-earned labor is being taken away from you by force. (If this is happening, you need to take immediate action.)
  • You are receiving notices from the IRS or the State Department of Revenue about unpaid taxes. (These will almost certainly be followed with action.)
  • You are being sued. (Legal


Let’s start with what debts you cannot discharge. Those would be child support and maintenance. These debts cannot be discharged in any form of bankruptcy.
No debts arising from a divorce can be discharged in a Chapter 7. So if you are planning on discharging some of the debts awarded to you in a divorce or which you were ordered to pay, you will need to proceed under Chapter 13.
While child support and maintenance cannot be discharged in
Continue Reading What Divorce Debts Can I Discharge in Bankruptcy?

Probably not.

We want our clients to be able to earn as much as possible, and part of our job is to make sure that any income they have is protected.

The amount of income debtors have can affect their case, depending on the chapter they are filing under and their income. In Chapter 7 consumer cases, income is factored into what is know as the means test. The means test compares household income to the median household income
Continue Reading If I Find Employment Prior to Filing Bankruptcy or After I File Bankruptcy, Will It Pose a Problem?

The majority of people who file Chapter 13 cases do not complete their plans and get a discharge of debt. These plans last three to five years and a lot can happen to people over that span of time.
Loss of jobs or income, whether by death, disability, or illness, can end the ability to make plan payments. A divorce can lead to additional household costs and new attorney fees. A car accident or major household repair can force
Continue Reading How Do I Deal with Problems After My Chapter 13 Case is Filed? What if I Cannot Make My Payment?

Clients are usually very concerned about what the filing of a bankruptcy will do to them in terms of publicity. For individuals, this concern is usually about having friends, neighbors, and relatives learning of their financial difficulties. But for businesses this concern can be about much more than vanity or embarrassment.
Businesses going through a reorganization have to be concerned about how the news will affect relationships with a number of key stakeholders. These interested parties include principal lenders and creditors, suppliers
Continue Reading Communication Strategy is Key

Housing is important to all of us, whether we have gone through a bankruptcy or not. People often have concerns about being able to obtain housing after a bankruptcy.

I have been practicing for over forty years and have represented thousands of people in bankruptcy cases. I have yet to have a client call me and tell me that they were homeless because of their bankruptcy filing.

Certainly there are some landlords who will view your credit history and
Continue Reading Renting a House or Apartment after Your Bankruptcy Case

Last week, Attorney Krekeler gave a presentation along with Lori Kannenberg Dorn of Stafford Rosenbaum LLP, Jeff Krause of Affinity Consulting Group, and Gia Pionek of Pionek Valle Law Group about Lessons Learned from the Pandemic. Here’s his recap of it:
“For the second year in a row, the State Bar of Wisconsin Solo and Small Firm Conference featured a presentation on lessons we have learned from the pandemic.

A year ago, we had no idea we
Continue Reading Lessons Learned from the Pandemic

Q. Is Bankruptcy Right For Me?

A. Possibly. When choosing bankruptcy, there are many sub-options. A lawyer who is familiar with practicing all forms of bankruptcy can help you make the best choice about which option you should choose.

For more on this subject and many other frequently asked questions about bankruptcy and financial problems, check out Attorney Krekeler’s new book Bankruptcy, Asked and Answered: Answers to Frequently Asked Questions about Bankruptcy and Financial Problems. Need help with your
Continue Reading Frequently Asked Questions: Is Bankruptcy Right For Me?

Q. Are My Financial Problems Serious Enough That I Should Consider Filing Bankruptcy?

A. Possibly. Take this Yes or No quiz to find out.

• Do you make just the minimum payments on your credit cards?
• Are creditors or collection agencies calling you because you owe them money?
• Are you paying for necessities like groceries and gas using credit cards?
• Are you considering consolidating your debt?
• Does your financial situation ever keep you up at
Continue Reading Frequently Asked Questions: Are My Financial Problems Serious Enough That I Should Consider Filing Bankruptcy?

Q. What Are Common Reasons People File Bankruptcy?

A. There are many reasons why someone would file bankruptcy. The most obvious is to eliminate debt.

Additional reasons include:

• To stop harassing, threatening, or annoying phone calls
• To stop wages from being garnished
• To end lawsuits or tax levies
• To force tax authorities to accept installment payment plans
• To terminate leases
• To lower interest rates
• To reduce amounts owed on loans
• To
Continue Reading Frequently Asked Questions: What Are Common Reasons People File Bankruptcy?

Attorney Christine Wolk joined our firm recently, bringing over twenty-five years of experience in bankruptcy law. Chris has been acknowledged as a leader by her peers. A past chair of the Bankruptcy, Insolvency and Creditor Rights (BICR) Section of the State Bar of Wisconsin, she is also acknowledged as a groundbreaker in the area of foreclosure defense. Chris has given numerous seminars and presentations, and is the author of Raising a Defense to Foreclosure. Her most recent presentation was
Continue Reading Did You Know… We Have Offices Throughout the State. Meet Christine Wolk, Who Works Out of Our Oshkosh Office.

Congress does not get very much right, but its enactment of the Small Business Reorganization Act (SBRA) is one success it can take credit for.
We have written before about how and why we perceive Subchapter V of Chapter 11 to be a boon for business. See our January 2020 newsletter and this article of mine also from January, 2020, published by the Wisconsin State Bar:

Sub V was enacted because Congress finally realized, after more than 40
Continue Reading Sub V Works!

If you want to keep the property, you will ultimately have to pay the real estate taxes. Unpaid real estate taxes in Wisconsin become a first and paramount lien upon the property of which those taxes are assessed. If not paid, the County will ultimately take the property.
We have filed many cases simply to stop the county from exercising these foreclosure rights.
A Chapter 7 filing is not very helpful in achieving this goal. That case will last
Continue Reading What Will Happen to My Real Estate Taxes if I File Bankruptcy?

Chapter 13 is not usually the first choice for those who need to file bankruptcy.  Chapter 7 is, and as a result the most popular form of bankruptcy. Chapter 7 is the fastest, easiest, and least expensive form of bankruptcy.
Chapter 13 if often used by people who for one reason or another are not eligible to file for Chapter 7 or to receive a Chapter 7 discharge of debt. This could be because of a prior Chapter 7
Continue Reading Chapter 13 is Not Usually the First Choice

The American Bankruptcy Institute has encouraged Congress to reform the way student loans are dealt with in bankruptcy. Since the Bankruptcy Code was enacted in 1978, several amendments have made it more and more difficult to discharge student loans. Now our country has a student loan crisis… a needless crisis.
Proposals like free college or debt forgiveness are unfair to many, and would provide unnecessary windfalls to many others. Simply reforming the Bankruptcy Code and restoring the ability to
Continue Reading Big Changes May be Coming for Those with Student Loan Debt

Many of my clients ask me if they will be able to have credit cards following a bankruptcy. My answer is always “yes.” This week several of our clients who had filed bankruptcy received pre-qualification offers for a Capital One credit card account. The account would require no annual fee, making this offer more attractive than some of the credit card accounts these clients had before filing bankruptcy.
Capital One has been among the most aggressive of the credit card issuers
Continue Reading Credit Cards After Bankruptcy