J. David Krekeler

J. David Krekeler is the founder of Krekeler Law, S.C. in Madison, Wisconsin, a firm dedicated to solving financial problems. His practice includes representation of debtors, creditors, and bankruptcy trustees in cases under Chapters 7, 11, 12, and 13 of the Bankruptcy Code. He also serves as a receiver in both supplemental and Chapter 128 proceedings. He is a member of both the Bankruptcy, Insolvency and Creditor’s Rights section (BICR) of the Wisconsin State Bar, as well as the Western District Bankruptcy Bar. He is also a member of the American Bankruptcy Institute and the National Association of Consumer Bankruptcy Attorneys. He has been certified as a Business Bankruptcy Law Specialist by the American Board of Certification. Only six Wisconsin lawyers are certified as business bankruptcy specialists, and David has been one of them for many years. He is a past chair of the (BICR) section of the Wisconsin State Bar, as well as the Western District Bankruptcy Bar Association. He is also past chair of the Solo and Small Firm section, and the 2021 recipient of its John Lederer distinguished service award. David is a graduate of the UW-Madison Law School and has a degree in Business Administration from the University of Missouri-St. Louis. He frequently teaches on debtor-creditor matters. He has been selected as a Super Lawyer every year for the last 17 years, as well as being included in the Best Lawyers of America during those same years. He recently published his first book, “Bankruptcy, Asked and Answered” (available on Amazon). His second book, this one on law office management, should be out within the next few months. When not solving financial problems, you will find David on dinner dates with his wife, Mary, and enjoying time with his children and grandchildren. Sunday night dinners are a ritual.

University of Wisconsin - Madison

J.D.

1979

University of Missouri - St. Louis

B.S. | Business Administration

1970 - 1974

Past Chairman

Wisconsin District Bankruptcy Bar

Current

Past Chair and Committee Member

Solo & Small Firm Conference, WI State Bar

Current

Member

National Association of Consumer Bankruptcy Attorneys

Current

Speaker at training events

Legal Action of Wisconsin Volunteer Lawyer Project

Current

Past Member

Commercial Law League of America and National Association of Retail Collection Attorneys

Current

Past Instructor

University of Wisconsin Law School Lawyering Skills Program

Current

Mediator Trainer

Department of Agriculture, Trade, and Consumer Protection: Farm Mediation Program

Current

Member

Department of Agriculture, Trade, and Consumer Protection: Consumer Protection Advisory Council

Current

Board of Directors

Bankruptcy, Insolvency and Creditor's Rights Section, WI State Bar

2005 - Current

Recent Decision Gives New Guidance on Harvester's Liens

AGRICULTURAL LAW AND RURAL PRACTICE BLOG

March 5, 2020

Small Business Restructuring Act: Simplifying Chapter 11 Bankruptcies

Inside Track

January 15, 2020

Agricultural Clients: Help them Get Paid

State Bar of Wisconsin Rural Ag Blog

March 5, 2019

Wisconsin Leads Nation in Farm Bankruptcies

State Bar of Wisconsin Rural Ag Blog

December 10, 2018

A Business, a Way of Life: Representing Family Farms with Financial Problems

State Bar of Wisconsin Rural Ag Blog

February 21, 2018

Board Certified, Business Bankruptcy Law

American Board of Certification

John Lederer Distinguished Service Award

State Bar of Wisconsin Solo, Small Firm, & General Practice Section

2021

Fellows

State Bar of Wisconsin

2019

The Fellows of the Wisconsin Law Foundation is an honorary program, which recognizes members of the profession in Wisconsin who are known by their peers for high achievements in their profession and outstanding contributions for the advancement and improvement of the administration of justice in the State of Wisconsin.

Recipient

America's Most Honored Professionals

2012

Best Lawyers in America 2007-Present

Best Lawyers in America

Wisconsin Super Lawyer in Bankruptcy 2007-Present

Super Lawyers

Wisconsin State Bar  # 1011125

Member

Current

Wisconsin

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Q. Do I still get the insurance money if my claim is more than the maximum amount

March 3, 2024

A: Yes. The insurer should pay you the full policy limits and you will have a claim against the driver for the balance.

And yes, the driver could file bankruptcy, but your claim, at least that part of your claim which is for bodily injury, should be a debt which cannot be discharged.

The statute is 11USC523(a)(9)

Q. Been paying private school loan for 13+ years and basically all in interest. Will filling for bankruptcy get rid of it?

February 5, 2024

A: Answer: It is unlikely that your private student loans will be discharged based only on the facts provided.

Explanation: Generally, student loans, whether public or private, are not part of the discharge debtors receive in a bankruptcy. To discharge student loans in a bankruptcy, a debtor must show that the student loans would impose an “undue hardship” on the debtor. See 11 U.S.C. 523(a)(8).

“Undue hardship” is not defined in the Bankruptcy Code nor has Congress provided guidance for its interpretation. Courts have defined the “undue hardship” test using a three-part test called the Brunner test.

The Brunner test requires the following:

(1) That the debtor cannot maintain, based on current income and expenses, a “minimal standard of living for [himself] and [his] dependents if forced to repay the loans;

(2) That additional circumstances exist indicating that this state of affairs is likely to persist for a significant portion go the repayment period of the student loans; and

(3) That the debtor has made good faith efforts to repay the loans.

A debtor must satisfy all three parts of the test to discharge their student loans.

The first part and third part are arguably the easiest to overcome. If your expenses outpace your income before accounting for your loan payments, and you can demonstrate your repayment record, these two parts should be satisfied.

The second part of the Brunner test is typically the hardest. Courts have called the second part of the test a demonstration of a “certainty of hopelessness.”

This vague situation is not a product of the Brunner test itself but rather what its application requires a judge to do: “a judge asked to apply a multifactor standard interpretating an open-ended statute necessarily has latitude; the more vague the standard, the harder it is to find error in its application.”

Although your change in income may be drastic, a reviewing court may also view the change as temporary.

Without more information substantiating the likely persistence of your financial situation and inability to overcome it by other means, you are unlikely to satisfy the requirements for a discharge of your student loans.

Alternatives: You may have some alternatives depending on what types of loans you have, however. If your loans are:

(1) Not entirely private, such as a private loan that is federally guaranteed by the government; or

(2) If your loans were not used to only pay for qualified educational expenses;

Then you may not need to a bankruptcy or apply the “undue hardship” standard to get your loans under control. ... Read More

Q. What is the best approach to negotiate with a collection agency after garnishments have been issued?

June 3, 2023

A: A: There is no single best approach to negotiating with a collection agency. How you proceed will depend upon the facts and circumstances.

But there are some basic considerations. Always start with goals. what are you hoping to accomplish? What is it that your opponent wants? Perhaps more importantly, what does each side really need? Needs must be met. Wants are negotiable.

Once you have these goals determined, there are other factors to consider. These include

Is there any dispute as to liability or amount?

What is the best alternative for your opponent to a negotiated settlement?

What is the worst alternative for your opponent to a negotiated settlement?

What is the most likely alternative for your opponent to a negotiated settlement?

In other words, what options are available to you and the collection agency if you do not settle?

How much will the collection agency obtain by garnishment?

There certainly are tactics which you can employ to reduce the amount which can be garnished. Those tactics vary with the circumstances, of course.

An experienced insolvency lawyer should be able to review your financial situation and design a strategy for negotiations.

I have taught courses and seminars to Wisconsin lawyers on negotiations and workouts. It is both an art and a science. ... Read More