Category Archives for "FAQ"

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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Mar 17

What Do I Do If My Business Has Financial Problems

FAQ

One of the least asked questions startup entrepreneurs ask themselves is, “What will I do if the business has financial problems?”  There are lots of seminars and courses that talk about business plans, marketing, operations, and accounts receivable management, but rarely do these seminars or courses address how the entrepreneur should deal with financial difficulties.  […]

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Dec 22

Should I file BK If My Credit Card Company Fell Off the Map?

FAQ

I have not heard from the credit card company I owe for a long time.  Should I still file bankruptcy?   Probably not, although you should make sure that you could file a bankruptcy promptly if the need arises.  I spoke with a client earlier this week whose only significant debt is a single credit […]

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