Welcome To The MN Bankruptcy Blog

Inside you will find over 500 helpful articles discussing the Chapter 7 & 13 Bankruptcy Process and other solutions for difficult financial situations.

 

Kelsey Quarberg

Kelsey Quarberg

Recent Posts

What If I Inherit Money After Filing Bankruptcy in MN?

Posted by Kelsey Quarberg on April 11

Unfortunately, we have seen clients inherit money from the passing of a relative after filing bankruptcy in Minnesota. The impacts of the inheritance on your bankruptcy depend on which chapter of bankruptcy you are in and how much you inherit.

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What If I Get Married or Pregnant After Filing Chapter 13 Bankruptcy in MN?

Posted by Kelsey Quarberg on March 31

The good news about Chapter 13 bankruptcy is that your life does not need to remain at a standstill once we file your case. You are allowed to live! Get married! Get pregnant! Move! We can always adjust your Chapter 13 plan through what is called a motion to modify the plan.

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How Much Is Too Much Money in a Bank Account During Bankruptcy in MN?

Posted by Kelsey Quarberg on March 11

When you file Chapter 7 or Chapter 13 bankruptcy in MN, you must list and value all of your assets at the time of filing. After listing and valuing your assets with you, your experienced Kain & Scott bankruptcy attorney will help make sure as much of, if not all of, your assets are protected from your bankruptcy trustee.

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Can I Choose Which Debts to Include and Exclude in My MN Bankruptcy?

Posted by Kelsey Quarberg on March 9

The short answer to this question is simple: no, you cannot choose which debts are in your bankruptcy and you cannot leave any out. When you file bankruptcy, you must list all of your debts, including any secured debts, domestic support obligations, tax debts, and general unsecured debts. You are asked in both your filing paperwork, and while under oath at your 341 meeting, if you included all of your debts and you need the answer to be a simple: “yes.”

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Will My Surviving Spouse Have to Pay My Debts If I Die in Minnesota?

Posted by Kelsey Quarberg on February 20

Generally, the answer is “no,” with a few exceptions. First, I will explain what happens to your debts when you die. After that, I will cover the few exceptions to the rule for surviving spouses in Minnesota.

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What Is a Reaffirmation Agreement in Minnesota, And Why Should I Sign One?

Posted by Kelsey Quarberg on February 8

If you file a Chapter 7 bankruptcy in Minnesota, any secured lenders listed in your schedules are likely to send you a reaffirmation agreement to sign. More often than not, it is a bad idea to sign a reaffirmation agreement.

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What Happens to My Taxes in a Chapter 13 Bankruptcy in Minnesota?

Posted by Kelsey Quarberg on February 2

One of the best reasons to file for Chapter 13 bankruptcy in Minnesota is to help with tax debt. Typically, tax debt that you incurred in the last few years or from a late filed return is not dischargeable in bankruptcy.

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Should I Close My Failing Business Before or After Filing Bankruptcy?

Posted by Kelsey Quarberg on January 26

Unfortunately, one of the main reasons for filing bankruptcy is a failing business. I often meet with clients that are business owners that know that their business is failing, but have yet to close the business.

There are usually a lot of questions surrounding the issue of when to close the business. Here are some general tips on the best timing for closing a business and filing for bankruptcy.

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How Do I Quickly Build Back My Credit After Bankruptcy in Minnesota?

Posted by Kelsey Quarberg on January 12

One of the most frequent questions I get from prospective clients in Eden Prairie, Minnesota is: “What happens to my credit after filing bankruptcy?” Oftentimes, my Eden Prairie, Minnesota clients are asking because they are worried that a bankruptcy filing will hurt their credit or make it more difficult for them to get approved for financing in the future. One of the greatest benefits to filing bankruptcy is that it is often the quickest way to improve your credit and get quality financing.

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How to Find a Winning Minnesota Bankruptcy Law Firm

Posted by Kelsey Quarberg on February 21

Sports fans have been anxiously waiting and the time is almost here: March Madness. As you gear up for a series of exciting games and limitless chicken wings, there’s one preparation that any dedicated basketball fan takes very seriously: picking a winning bracket.

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Getting the Most Out of Your Minnesota Bankruptcy

Posted by Kelsey Quarberg on February 10

If you’re one of the thousands of Minnesota residents who is considering filing for either Chapter 7 or Chapter 13 bankruptcy, follow these simple tips to help you get the most out of your Minnesota bankruptcy.

 

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How Much Does Filing for Bankruptcy in Minnesota Cost?

Posted by Kelsey Quarberg on January 30

You may have heard or seen advertisements claiming that this firm or that firm offers low-cost bankruptcy filing. But do you know what that advertised “low price” will actually cost you?

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Unexpected Debt and Minnesota Bankruptcy

Posted by Kelsey Quarberg on December 20

Has Mother Nature caught you off guard with unprecedented winter storms?

No matter how prepared you think you are for winter, chances are when an unexpected snowstorm hits, you find that there was something you forgot: extra batteries, driveway salt, or the ever-important loaf of bread and gallon of milk may make the difference between enjoying the winter wonderland outside or cursing the swirling white fury outside your window.

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Tackling Your Debt During the Holiday Season

Posted by Kelsey Quarberg on December 13

Has your debt landed you on the naughty list this year?

It’s that time of year when Santa is making his annual inventory of all the good and bad Minnesotans. But Santa isn’t alone: many Minnesota families are also taking a good hard look at their finances and wondering how much crunch they will feel once their credit card statements come in January. According to a recent report, the average American family spent almost $1,000 on just gifts during the 2016 holiday season and the projected expense of the 2017 season is expected to be even higher. For Minnesota families that are already struggling financially, the added cost of the holidays can turn a bad situation into a dire one.

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Full-Service Minnesota Bankruptcy Law Firm

Posted by Kelsey Quarberg on December 7

The term “full-service” is all the rage in business marketing: whether a hair salon, caterer, car wash, or accountant, every business pushes to be a one-stop solution to meet their customer’s needs. But what exactly is a full-service Minnesota bankruptcy law firm?

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Are Bankruptcy Filings Public Record in Minnetonka?

Posted by Kelsey Quarberg on November 27

Technically, all bankruptcy records are public through the federal court’s internet-based Public Access to Court Electronic Records (PACER) service. In order to access bankruptcy records through PACER, one needs an account set up. Those in Minnetonka can create their own PACER accounts, but the average Minnetonka resident doesn’t know that. One typically is in some sort of legal field in order to know about PACER access. Further, those with PACER access would need to search your name in order to find your bankruptcy filing. The chances of one of your Minnetonka friends or relatives having a PACER account and actually searching your name is pretty low. Plus, anyone that tries to access documents through PACER must pay a fee per page that they try to access. This acts as a natural deterrent from people casually searching through PACER.

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(Video) Are Bankruptcy Records Public in Eden Prairie?

Posted by Kelsey Quarberg on November 23

Technically, all bankruptcy records are public through the federal court’s internet-based Public Access to Court Electronic Records (PACER) service. In order to access bankruptcy records through PACER, one needs an account set up. Those in Eden Prairie can create their own PACER accounts, but the average Eden Prairie resident doesn’t know that. One typically is in some sort of legal field in order to know about PACER access. Further, those with PACER access would need to search your name in order to find your bankruptcy filing. The chances of one of your Eden Prairie friends or relatives having a PACER account and actually searching your name is pretty low.

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How to Stop Foreclosure, Repossession, & Creditor Harassment with Bankruptcy

Posted by Kelsey Quarberg on November 21

If you’re one of the thousands of Minnesota residents struggling with debt, chances are you might be faced with some form of aggressive collections actions from creditors in the near future. What many Minnesotans don’t realize, however, is that there is one way to stop foreclosure, repossession, and creditor harassment fast: by filing for Chapter 7 or Chapter 13 bankruptcy in Minnesota.

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Kain & Scott: Minnesota Bankruptcy Services As Unique As You Are

Posted by Kelsey Quarberg on November 14

Have you ever been tempted by “one size fits all” Minnesota bankruptcy services? Advertisements for law firms that claim to understand the complexity of your financial situation without ever meeting you or discussing your information? Law firms that tout their bankruptcy expertise, without ever having actually taken a Minnesota bankruptcy case at all, let alone one that is exactly like yours?

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How to Get a Fresh Start in St. Cloud, Minnesota with Chapter 7

Posted by Kelsey Quarberg on November 2

Could you use a financial fresh start? Do you have unsecured debt that you are unable to pay? Is your low credit score preventing you from living the life you thought you would?

Sadly, many St. Cloud residents would answer “yes” to all three of the above questions, while many more would agree with at least one.

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(Video) How does a Chapter 13 Bankruptcy work?

Posted by Kelsey Quarberg on October 30

A Chapter 13 bankruptcy is what we refer to as a “Government Sponsored Debt Repayment Plan.” Instead of using a debt consolidation company or tackling your overwhelming debt on your own, a Chapter 13 bankruptcy can be a great option. The main difference between a Chapter 7 bankruptcy and a Chapter 13 bankruptcy is the Chapter 13 Plan. When you file a Chapter 13 bankruptcy, you include a 3 to 5 year repayment plan. The repayment plan amount is based on your disposable income. Basically, you take your average income in a month and subtract your average living expenses. The amount left over is considered your “disposable income” which you can contribute to your Chapter 13 plan. Your Chapter 13 payments are then distributed to your creditors.

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Chapter 7 Bankruptcy: What Is It And What Happens When You File?

Posted by Kelsey Quarberg on October 17

While most Minnesota residents are familiar with the concept of bankruptcy, the nuances between the different types can still be confusing. At Kain & Scott, we offer our Minnesota clients both Chapter 7 Bankruptcy and Chapter 13 Bankruptcy. This article focuses on Chapter 7 Bankruptcy, which can eliminate all of your unsecured debt forever in 90-120 days from filing.

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Chapter 7 Bankruptcy: What Happens To Your Credit Score After Filing?

Posted by Kelsey Quarberg on October 9

October is a time for scares: ghosts, goblins, and ghouls abound and frights are as common as falling leaves. One type of scare you don’t want in October is to come face-to-face with a low credit score. Unfortunately, for those who are considering filing Chapter 7 Bankruptcy in Minnesota, a low credit score is a common problem and, once your score has fallen, it can be difficult to raise it again.

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The Difference Between Exempt & Non-Exempt Property in Minnesota

Posted by Kelsey Quarberg on September 27

Chapter 7 bankruptcies are known as the “Liquidation” chapter of bankruptcies. That doesn’t mean the judge is going to pull up in front of your house with a moving truck, load up your stuff, and drive away. Instead, it means the court labels your property as either “exempt” or “non-exempt” based on either federal or state laws. Your non-exempt property can either be: 1) surrendered to your Chapter 7 trustee, 2) “purchased” from your bankruptcy estate, 3) or abandoned by the Chapter 7 trustee. Here, I will first discuss the differences between exempt and non-exempt property. Then, I will discuss the three non-exempt property options.

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(Video) How To Tell The Difference Between The Real IRS or Scam Artist?

Posted by Kelsey Quarberg on September 12

I often receive panicked phone calls and emails from clients stating they received a call from the IRS threatening to arrest them for failure to pay taxes. After looking into each client’s case, more often than not I find that the call or email was a scam. When you are faced with overwhelming debt, it can be difficult to distinguish between what is real and what is fake. You may be receiving a mix of calls from real debt collectors and fake debt collectors. The fake collectors take advantage of people that have other, real types of debt in the hopes that they will accidentally get paid. Here are some signs and tips to avoid IRS scams:

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How To Find The Best Bankruptcy Lawyers In Edina, MN

Posted by Kelsey Quarberg on August 29

If you're struggling with overwhelming debt there's no better time than now to start searching for an Edina Bankruptcy Lawyer to help you get the debt relief you need and deserve through bankruptcy. 

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How To Get Debt Free With KainScott's Minneapolis Bankruptcy Attorneys

Posted by Kelsey Quarberg on August 15

Every year, thousands of Americans file for bankruptcy for good reason: bankruptcy can be a useful way to erase your debt and get a fresh start. Despite the benefits of bankruptcy, many Minneapolis residents aren’t sure what steps they need to take to erase their debt or how fast and easy filing for bankruptcy can be with Kain & Scott.

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How To Find The Best Bankruptcy Attorneys in Eden Prairie, MN

Posted by Kelsey Quarberg on August 13

Are you tired of creditors pulling the strings on your finances? Do you wish you could cut the strings from your debt and improve your credit score, but don’t know how? Puppet shows are a universal children’s favorite: the bright lights, colorful scenery, and whimsical puppets delight audiences in Minnesota and beyond.

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How A Bankruptcy Can Stop Foreclosure Proceedings

Posted by Kelsey Quarberg on July 21

In Minnesota, the foreclosure process takes a pretty long time. The average non-judicial (most common) Minnesota foreclosure lasts anywhere from 9 to 12 months, sometimes even longer! When faced with foreclosure, a homeowner has a few options 1) surrender the home to the bank (and potentially file Chapter 7 Bankruptcy), 2) redeem the home, or 3) file Chapter 13 Bankruptcy. Here I will discuss the pros and cons to each of these options.

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Finding The Best Bankruptcy Lawyers in Minneapolis, MN

Posted by Kelsey Quarberg on July 11

Do your finances need a boost to get back into shape? Does your credit score need to be re-energized? Are you searching for the perfect Minneapolis Bankruptcy Lawyer to give you a complete financial makeover?

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How To Find The Best Bankruptcy Lawyers In Minnetonka, MN

Posted by Kelsey Quarberg on June 2

Congratulations on making the decision to eliminate your debt and take control of your finances by filing for bankruptcy! You’ve already chosen to erase your debt and get a fresh financial start; the next step in your journey is to find the best bankruptcy lawyers in Minnetonka, Minnesota.

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Best Minneapolis, Minnesota Bankruptcy Lawyers

Posted by Kelsey Quarberg on May 24

When you file for bankruptcy in Minneapolis, Minnesota, you want the best bankruptcy team by your side. That’s why at Kain & Scott, our legal team is comprised of the Best Bankruptcy Attorneys in Minneapolis who use their specialized bankruptcy know-how to help our clients become debt-free and repair their credit – FAST.

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What Is An Order For Relief?

Posted by Kelsey Quarberg on May 18

One of the benefits of filing bankruptcy is something called the Automatic Stay. The Automatic Stay is what protects you from your creditors during the life of your bankruptcy. Think of it as an invisible and impenetrable blanket surrounding you that prevents your creditors from contacting you or collecting from you. Unfortunately, there are rare circumstances in which the Automatic Stay cannot protect you from certain creditors. Certain creditors, as I discuss below, can file a Motion for Relief from your Automatic Stay. If granted, an Order for Relief allows the creditor to contact and collect from you. In this blog, I will explain what types of creditors typically file Motions for Relief and what happens if an Order for Relief is granted.

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