Many Americans are dealing with student loans. While the standard for the discharge of student loans has changed, it is likely still not a dischargeable debt for many people who file bankruptcy. It is very difficult to wipe out student loans in a bankruptcy.

Filing a chapter 7 bankruptcy is a great tool to get a fresh financial start, but many people don’t know where to begin. Here at LifeBack Law Firm, we streamline the process to make filing a chapter 7 as easy as possible for the client! Below is the typical process from start to finish, so you have an idea what to expect when taking this step.

At Lifeback Law, we’ve streamlined the bankruptcy process into a well-oiled system, with many small parts working together to keep everything simple and efficient. When you sign up, you’ll meet several members of our team, each playing an important role in guiding you through the process. Here’s a breakdown of our support staff at Lifeback Law:

Let’s face it: being in debt is anxiety-inducing. If you pair financial anxiety with the complicated emotions of considering filing a bankruptcy, the stress can feel insurmountable. At LifeBack Law Firm, we can help you navigate through bankruptcy filing and alleviate financial stress, but self-care is also crucial to navigate through anxiety. It can be hard to know where to start with self-care, but sometimes it’s as easy as sitting down with a cup of tea. I have included my grandmother’s favorite spiced tea recipe below, and I hope it gives you comfort!

Many Americans are dealing with student loans. While the standard for the discharge of student loans has changed, it is likely still not a dischargeable debt for many people who file bankruptcy. It is very difficult to wipe out student loans in a bankruptcy.

Many people who are dealing with debt often fall into the trap of only making the minimum payments on their debts. While making minimum payments keeps your account in good standing, it is important to understand the long-term effects of only making the minimum payments. There are several reasons why only making minimum payments can affect you long-term. 

     If you are filing bankruptcy in Minneapolis, Minnesota, be careful of this! Many firms can file your bankruptcy but only one firm takes you the whole way. For example, while a bankruptcy discharge can get rid of your liability on debts, it does not erase the public record. For instance, say you have a 10k judgment against you. When the bankruptcy is discharged, your liability for the judgment (in most instances) is gone forever. However, the judgment itself remains a part of the public record until it is removed.

For anyone who may be struggling with overwhelming or unmanageable debt, it is not uncommon to hear from debt collectors while navigating the process of resolving your debt situation.  Some collectors can at times employ coercive or aggressive tactics to pursue debts by calling, texting or even filing lawsuits in their effort to collect.  Dealing with debt collectors can be a scary or stress inducing situation, and it is very natural to wonder what your potential options might be to help defend against their actions.  One of the first things that people will consider when pondering on this is whether bankruptcy is a potential option to help.

If you are considering filing for bankruptcy, you may have heard of the 341 Hearing. Clients often ask us about this step, and it's an excellent question — understanding the 341 Hearing helps clarify what happens after your case is filed.

Financial hardships while dealing with a disability can be overwhelming. Many people rely on disability benefits to meet their needs. If you are receiving disability benefits you may be wondering if your benefits will be affected by filing bankruptcy. The good news is that most disability benefits provided by a governmental source are protected during a bankruptcy. This includes social security and social security benefits. Disability benefits provided by the Veterans Administration are also protected. This means that you will not lose your benefits because you filed a bankruptcy. This also means that any funds traceable to your benefits will also be protected.

When contemplating the possibility of a Chapter 7 bankruptcy filing, one of the first things that anyone will typically contemplate is what exactly this process will involve.  You might wonder which debts are resolved through Chapter 7, as well as how they are dealt with and what timeline this occurs on.  You might also wonder what the timeline of the bankruptcy filing looks like generally, as well as whether any appearances are necessary, and what the court might expect you to do post-filing.  Herein, we shall analyze and answer these questions.  

There’s nothing wrong with doing a little research. However, sometimes a little research turns into a lot of anxiety. We’ve all been down that rabbit hole, where googling a seemingly innocuous medical question turns into being convinced you have forty-eight hours left to live. 

A common question asked by those considering the possibility of a Chapter 7 bankruptcy filing is whether or not the bankruptcy filing can be denied.  It is a natural and important question, as confidence in the outcome of your bankruptcy is of paramount concern when you are evaluating whether to pursue the process.  Because of this, it is also common to wonder what makes a Chapter 7 bankruptcy successful, and the parameters under which a bankruptcy filing will ultimately leads to a discharge.  

The bankruptcy code requires that all individuals filing for bankruptcy list all of their creditors. It is a common misconception that a debtor may pick and choose which creditors to list. In order to get a discharge, a creditor must get notice of the bankruptcy filing. Many debtors are often worried about missing or forgetting a creditor in their bankruptcy filing. 

When considering the possibility of filing a Chapter 13 bankruptcy, something that is frequently wondered by many who may be considering the process is what the size of the payments made into the Chapter 13 plan will ultimately be.  Every Chapter 13 bankruptcy is fundamentally built around the central premise of the person who is filing making payments into the bankruptcy trustee, who will then in turn make disbursements to creditors.  However, the size of these payments can be impacted by a number of factors, including the nature of the debts being resolved, the financial circumstances of the filer and the nature of certain actions or financial transactions that occur prior to filing.