Category Archives for "Blog"

Aug 10

How Debtors and Creditors Use Proofs of Claim in a Bankruptcy Case

Blog , Chapter 7 Bankruptcy , Client Service , General Bankruptcy

One of the purposes of bankruptcy is to provide creditors with distributions (made up of the debtor’s assets or income). Creditors must file proofs of claim to receive their share of the distributions. Surprisingly, many creditors do not file proofs of claim, thereby foregoing their shares of the distributions. How Proofs of Claim Work In […]

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Aug 01

Will I Be Liable for the Debts of a Business That I Inherit?

Blog , FAQ

Generally, no. Depending upon how the business is organized, you will likely inherit one of the following: Corporation                                         Stock Limited Liability Company              Membership Interest Sole Proprietorship                            Assets With a corporation or LLC, what you really are inheriting is the net worth of the business. With a sole proprietorship, you inherit both the business and its assets. For […]

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Jul 16

How Our Practice Standards Make Us Better

Blog , Client Service

Here at Krekeler Strother S.C., we have established practice standards for much of what we do. We set our standards high, in keeping with our mission to provide unparalleled service to clients. By meeting these standards we are able to assure that every client gets the same level of attention and care. I built my […]

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Jul 10

Bankruptcy is a Tool, Not a Goal (Part 2)

Blog , Client Service

In Part 2, Attorney David Krekeler describes how the Krekeler Strother, S.C. team can help you choose your tool. Clients sometimes refer to me as a bankruptcy lawyer. I quickly point out that I am not a bankruptcy lawyer. They often look at me quizzically and ask, “You’re not?” Their surprise is understandable, because the person […]

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Jul 06

Bankruptcy is a Tool, Not a Goal (Part 1)

Blog , Client Service

Attorney David Krekeler defines the real goal for the legal client. I spend a lot of time meeting clients. The initial conversation almost always begins with a discussion about goals and what the client would like to accomplish. I sometimes refer to this as their “wish list”. Many clients tell me that their goal is […]

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Jun 29

Timing of Tax Attribute Reductions

Blog , Debt Collection

A bankruptcy discharge has many effects and timing is important. The most well-known, of course, is that debts are eliminated and the debtor has no further obligation to pay them. A lesser-known consequence of bankruptcy can be its effect upon a debtor’s future income. The income itself is not directly affected by a bankruptcy, but […]

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