Category Archives for "Chapter 11 Bankruptcy"

Sep 22

Bars and Restaurants Could be Facing Fines…

Chapter 11 Bankruptcy , Chapter 13 Bankruptcy , Financial Problems , General Bankruptcy

What will happen when they file bankruptcy? Dane County is warning bars and restaurants that it will soon be imposing fines for violations of its various health code orders imposed in connection with COVID-19.  Already struggling establishments must now enforce limited capacity orders, mask requirements, and social distancing restrictions.  Many find it is difficult to […]

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Feb 05

Forever 21 Files Chapter 11

Blog , Chapter 11 Bankruptcy

Forever 21 has filed Chapter 11. The fashion for teen shoppers retailer’s sales were down 20-25%. The company has already announced closings of nearly 180 stores by the end of this year, including the store here in Madison. Forever 21 is another in the list of retailers who have filed bankruptcy this year. Budget retailers […]

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Oct 10

Should I Get a Credit Card After My Bankruptcy?

Blog , Chapter 11 Bankruptcy , Chapter 12 Bankruptcy , Chapter 13 Bankruptcy , Chapter 7 Bankruptcy , Credit & Credit Scores , General Bankruptcy

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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Sep 21

If I find employment prior to filing bankruptcy, or after I file bankruptcy, will this pose a problem?

Blog , Chapter 11 Bankruptcy , Chapter 13 Bankruptcy , Chapter 7 Bankruptcy , Employment in Bankruptcy , General Bankruptcy

No. We want our clients to be able to earn as much as possible and part of our job is to make sure any income you have is protected. The amount of income can affect your case, depending on the chapter you are filing under and the amount you are earning. In Chapter 7 consumer […]

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Aug 01

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

Blog , Chapter 11 Bankruptcy , General Bankruptcy

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 , Chapter 11 Bankruptcy , Chapter 7 Bankruptcy , Foreclosure , General Bankruptcy

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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Feb 26

Your Business: How Reorganizing Can Keep You Doing What You Love

Blog , Business Debt , Chapter 11 Bankruptcy , Farm & Industrial , Financial Problems

Your Business: How Reorganizing Can Keep You Doing What You Love.

The odds are, your small business won’t be around 5 years from now. About half of all the businesses that started this year will close their shutters within 5 years later. Why do all these businesses fail? Both studies and common knowledge suggest many reasons. Including: changing economy, new or unanticipated competition or unforeseen disasters.  […]

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