Entries by VPoint

MSBA Bankruptcy Section Consumer Subcommittee Meeting

Notice of May 12, 2020, 6 PM start time MSBA Bankruptcy Section Consumer Subcommittee Meeting Join us for a panel discussion with Jeffrey Bruzek, Tim Theisen, and Ron Lundquist as we discuss the following garden of sprouting Chapter 13 issues: 1. Up in Smoke: The collision between Chapter 13 and federal law regarding marijuana 2. […]

Placing Bets and Cashing Checks

Placing Bets and Cashing Checks – How to Get Paid in a Consumer Bankruptcy Case 1.0 ethics credit applied for Much like the action at the casino, lawyers representing parties in bankruptcy is a risky proposition. The panel will discuss how attorneys representing debtors and creditors in consumer cases can seek compensation for the services […]


Will I lose my wedding ring in bankruptcy?

The quick answer is, I’ve never had a client lose their wedding ring. There are some interesting twists and angles to consider. The first concept to understand is exemptions. The wedding ring is exempt under both the federal and Minnesota exemptions. The federal exemption has a $1,550 value for any jewelry, plus a miscellaneous exemption […]

Can I buy Christmas gifts before I file bankruptcy?

Tis the season for a timely question. There are two things to watch out for: The first concept, if you file after the gift is given, concerns what are called fraudulent transactions, which could potentially invoke a trustee’s “clawback” (or avoidance) powers. If a person receives something of value from you, the trustee could potentially […]


Modifying your car loan in a chapter 13

My last two posts concerned options with a car in chapter 7, including the two most popular options, retain and pay/”ride through”, or reaffirmation. But in most cases, the terms of the loan remain the same. In chapter 13, we can actually change the terms of your car loan for the better. First of all, […]

New median income figures go into effect November 1, 2018

The Department of Justice recently did its semiannual adjustments of the median income figures, which are effective in a bankruptcy case is filed after November 1, 2018. The median income is an important figure, as debtors below that figure are almost always assured a chapter 7 discharge. For chapter 13 debtors, being under the median […]


What’s better – short sale or foreclosure?

A realtor will definitely tell you a short sale is better. But keep in mind that a realtor makes money by getting clients and selling houses. While there is nothing wrong with that, and I have nothing against realtors, realtors are trained to tell you this. And there may be a long-term overall benefit to […]

Fee Application in Chapter 7, 11 and 13

September 15, 2015 Tim Theisen and three other veterans Minnesota practitioners will discuss how to prepare for and gain approval of bankruptcy fee applications in Chapters 7, 11 and 13. This discussion should be very insightful while earning Continuing Legal Education (“CLE”) credit. Presenters: Margaret Culp, Office of Chapter 13 Trustee Nauni Manty, Manty & Associates PA […]

I’ve been served a summons. What should I do?

This usually means that you are getting toward the end of the collection cycle, that you have not had the money to pay your unsecured bills for at least a year, that your credit is probably shot, and it is probably time to call me. You have 20 days to serve a written response, called […]