Category Archives for "FAQ"

Oct 10

Should I Get a Credit Card After My Bankruptcy?

Blog , FAQ

Yes, probably. Credit reporting agencies, like TransUnion, advise us that it is good to have a credit card, even a secured card, even if you do not use it. Doing so will increase your credit score. Having a credit card is also important if you are traveling or are anywhere without case. Do not get […]

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Oct 03

Must I Report Money Used From Minor Children’s Accounts?

Blog , FAQ

Question: I will be filing bankruptcy and am preparing my schedules.  As my financial problems have worsened, I have used money from my minor children’s savings accounts. Do I have to say anything about this? Answer: Yes. The money you have “borrowed” from your children should be disclosed as a debt you owe. Besides paying […]

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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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Aug 21

My Land Contract was Foreclosed: Can I Save My Property?

Blog , FAQ

My land contract was foreclosed and the redemption period has ended. Can I still save my property? Land contracts are widely used in Wisconsin and provide the seller (usually called the “Vendor”) with various remedies if the Buyer (usually called the “Vendee”) defaults. The remedy most frequently resorted to is strict foreclosure.  In that type […]

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Aug 21

I Need a Credit Card For Work: Should I Keep Using It?

Blog , FAQ

Should I keep paying on my credit card accounts?  I need a credit card for work. Credit cards are almost a necessity these days.  If you don’t agree, try renting a car without one.  Many people need credit cards for their employment, for expenses which are later reimbursed.  Most people want at least one card […]

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Jul 14

How can I discharge the divorce court order that I pay my ex-spouse’s attorney fees?

Blog , Divorce & Bankruptcy , FAQ

The answer depends upon a number of factors.  We know that you cannot discharge any debts arising from a divorce except under Chapter 13.  Using that chapter, a debtor may discharge debts which are not domestic support obligations (DSOs).  Domestic support obligations, generally speaking, are debts which are in the nature of alimony, maintenance, or […]

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