Not too long ago, an attorney called me on the Lawyer-to-Lawyer directory*. He had recently obtained a judgment for his client against a Limited Liability Company (LLC). The amount of the judgment was $17,000, and he believed the LLC might not have much in the way of assets. His question to me was, “What steps […]
Read MoreFinancial Problems , PPP Loans
Last year I predicted that the Department of Justice (DOJ) would be busy prosecuting fraud under the Paycheck Protection Program (PPP). A few weeks ago, the DOJ announced its first civil settlement of such fraud claims. The stipulation for settlement sets forth the following basic facts: • SlideBelt Inc. filed for bankruptcy• Eight (8) months […]
Read MoreConsumer Law Issues , Debt Collection
The Fair Debt Collection Practice Act (FDCPA), prohibits misleading an unsophisticated debtor. An “unsophisticated debtor” is “one who is uninformed, naïve and trusting, but does possess rudimentary knowledge about the financial world, and is wise enough to read collection notices with added care.” When bringing these claims that a debt collector’s communication was misleading, the […]
Read MoreClients often ask me this question. They were instructed to operate their business as either a corporation or a limited liability company (LLC), and were led to believe that they would not have liability for the debts which the entity might incur. This general statement about limited liability is true, but often no one explains the […]
Read MoreA Plaintiff sued a collector under the Fair Debt Collection Practices Act for sending him a letter in an effort to collect a debt he claimed he did not owe. The envelope containing the letter revealed a bar code which contained some of the Plaintiff’s personal information. He sued, arguing that the mailing violated the […]
Read More“I decided to use your firm after a recommendation by a very trusted attorney in Green Bay, Wisconsin. I was in a situation with a bank that was under investigation and orders by the government to figure out how to cover their past failures, by hunting down all their previous loans. We needed the best […]
Read MoreWhen multiple parties enter into contracts, or are involved in any sort of accident, people are often quick to assert blame against the others involved. If several roommates on a lease vacate early or owe the landlord damages, they often point fingers at each other and want to pay no more than they must. But what […]
Read MoreThe interest rate on civil judgments in Wisconsin is set at 1% plus the prime rate in effect. The rate is subject to change every six months. The following chart shows a five-year history of these changing rates: Rate in effect July 1 – December 31, 2016 4.50% Rate in effect January 1 – June 30, […]
Read MoreQuestion: I know that in Wisconsin creditors cannot take my home away from me so long as I am living in it. I have had to leave my home for medical reasons. Do I now lose it? Answer: Probably not. It is not true, however, that you are entitled to keep your home just because you are living […]
Read MoreWe were opposed to government bailouts during the great recession. Bankruptcy works, and we believe the system would have taken care of itself. Our beliefs are bolstered by recent bankruptcy news, in which three well-known debtors have emerged from bankruptcy to hopefully resume profitable operations. California Pizza Kitchen, which has a location in Milwaukee’s Bayshore […]
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