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.

 

How Are Civil Lawsuits and Bankruptcy Connected in Minnesota?

Posted by Charles Nguyen on September 23

Imagine having job security, being able to pay your bills, and life being just fine. Then, you lose your job and you can’t keep up with your bills and all of the sudden you’re sued for not paying your credit card or a creditor bringing you to court for breaching your contract to them. This happens all the time.

Read More

Can I Get Rid of My Vehicle and Vehicle Loan in Bankruptcy?

Posted by Amanda Scharber on September 22

Say you have a vehicle, that for whatever reason, you do not want to keep anymore. Maybe it needs significant repair, maybe you can’t afford it anymore, or maybe you just do not want it. Whatever the reason, you may be wondering whether you can get rid of the vehicle and its loan in bankruptcy? The answer is yes.

Read More

Will I Be Discriminated Against for Filing Bankruptcy in Minnesota?

Posted by Tim Tonga on September 21

A common concern for people who are filing for chapter 7 and chapter 13 bankruptcy is whether others will find out about their bankruptcy, and if so, whether they will get discriminated against for filing. One concern people often have is whether friends or family members will discover that they filed for bankruptcy.

Read More

What Is a Chapter 13 Cram Down in Minnesota?

Posted by Charles Nguyen on September 20

As you may know, a chapter 13 bankruptcy is a reorganization bankruptcy where you establish a repayment plan that usually lasts 5 years. Typically, the repayment plan is based on a budget that is created by looking at your net income and then your expenses.  One of the many benefits of a chapter 13 bankruptcy is the availability to lower or “cram down” a debt from the current loan balance to the value of that debt.

Read More

The Minnesota Homestead Exception: Chapter 7 v. Chapter 13

Posted by Col Ovik on September 19

As a general matter, homestead exemptions are to be liberally construed in favor of the exemption. All presumptions are to be made in favor of preservation and retention of the homestead. This is good news for a bankruptcy filer who wishes to protect/exempt their homestead when filing bankruptcy.

The effect of claiming an exemption is to technically exclude property from the bankruptcy estate.

Read More

Does the Value of My Home Matter in Minnesota Bankruptcy?

Posted by Jake Peden on September 18

When I meet with clients who own their home, protecting their loved ones and their family home are the number one concerns. As far as protecting your home in bankruptcy goes, Minnesota is one of the best states in the country as far as protecting your equity. Currently, you can have up to $450,000.00 worth of home equity and not lose any of it in filing for bankruptcy relief.

Read More
Learn What To Expect From Your Free Bankruptcy Consultation

I Received a Motion to Dismiss My Chapter 13 in Minnesota, Now What?

Posted by Amanda Scharber on September 17

A Motion to Dismiss your chapter 13 case is generally brought by the chapter 13 trustee. This motion is usually brought by the trustee to dismiss your case, because of failure to follow some sort of provision in your plan or the bankruptcy code.

Commonly, Motions to Dismiss are brought for the following reasons, failure to make your plan payments, failure to turn over tax refunds or other property of the bankruptcy estate, and failure to provide your tax returns.

Read More

Should You Wait to File Bankruptcy in Minnesota?

Posted by Charles Nguyen on September 16

Bankruptcy is a last option for many people. Before making a decision to file, most people will struggle with their rent or mortgage and other bills. Due to ongoing stress, mistakes will occur, such as paying a credit card bill instead of an electric bill or paying the monthly balance on a personal loan instead of their home owner’s association fee. They may even skip one or two mortgage payments to pay an unsecured debt.

Read More

Can Bankruptcy Help Me With My Medical Debt?

Posted by Tim Tonga on September 15

There are lots of reasons that people file for bankruptcy. One very common reason is because they have lots of medical debt. Medical services can be very expensive, particularly for those who have no or little insurance. Medical debt is considered general unsecured debt, just like credit cards and personal loans that are not secured by any collateral. This type of debt can be completely wiped out by a bankruptcy discharge.

Read More
Download our Free Debt Solutions Comparison Chart

How Does a Chapter 13 Bankruptcy Really Work Minnesota?

Posted by Wesley Scott on September 14

You are sitting at home, at your kitchen table, and you are working your way through a pile of bills that need to be paid. Some of these bills are past due. When you whip out the calculator and add all of the credit card debt, medical bills, and unsecured lines of credit, you get a total of $75,000.00 with monthly payments that total $3,250.00 to service just the minimum payments on all of the debts.

Is chapter 13 bankruptcy in Minnesota something you should start considering?

Read More

Living With Positivity, Despite Adversity

Posted by Col Ovik on September 13

Recently, I started watching a new television series call Ted Lasso and I was quite wonderfully surprised. This is a show about positivity, kindness, and thoughtfulness. Even faced with the ugliest of characters, Ted Lasso continues his crusade of positivity. This is a message we should all embrace.

Read More

Can Bankruptcy Get Rid of Debt Owed to the Government?

Posted by Tim Tonga on September 12

Whether a bankruptcy can wipe out debt owed to the government is one question that many people have when considering filing for a chapter 7 or chapter 13 bankruptcy. Whether a bankruptcy discharge will eliminate this type of debt depends on the specific nature of the debt owed to the government. One common form of government debt is tax debt. Tax debt is generally not dischargeable in bankruptcy.

Read More

Is There Confidential Information Listed in My Minnesota Bankruptcy?

Posted by Amanda Scharber on September 11

Bankruptcy filings like Chapter 7 and Chapter 13 are technically public record. The full case and associated documents are filed with the court. The case and associated filings are then accessible on the United States Bankruptcy Court’s website.

Read More

Should You Ever Give a Bankruptcy Attorney a Lien on Your Own Clothing?

Posted by Wesley Scott on September 10

Unfortunately, in the bankruptcy world, there are some very unseemly practices. There are some companies who disguise themselves as law firms only to be referral agencies in reality. They take your phone call and have non-lawyers sign you up, and then refer you back to a Minnesota bankruptcy attorney. If you want crappy service, you should definitely do this.

Read More

How Does Wage Garnishment Work in Minnesota?

Posted by Charles Nguyen on September 9

A garnishment is when someone, usually a creditor or someone you owe money to, goes into your bank account or paycheck to obtain money that you owe.

Read More

Can Bankruptcy Help Me With My Tax Debt in Minnesota?

Posted by Tim Tonga on September 8

Tax debt is a major reason that people file for bankruptcy. Despite the fact that the State and Federal taxing authorities (i.e. the IRS and MN Department of Revenue) are often willing to offer payment plans to assist people with this type of debt, owing a large amount of taxes can create both a financial and emotional burden. This is especially true when one has other expenses, debts and bills with which to contend.

Bankruptcy can often provide a great deal of assistance for those dealing with lots of tax debt.

Read More

Per Capita Benefits and Other Benefits to Native American Band Members in Bankruptcy

Posted by Jake Peden on September 7

On July 8, 2021, the United States Bankruptcy Court for the District of Minnesota issued a ruling upholding the rights for bankruptcy debtors who receive benefits under the Federal Indian Gaming Regulatory Act of 1988, 25 U.S.C. §§ 2701, et seq. (“IGRA”).

The 18 page opinion ends with a clear admonishment: “even outside of the Pokagon Band’s sovereign authority to create and define property rights, the per capita payments are not property of the estate in policy, logic, or equity.”

Read More

Can You Imagine a Bankruptcy Lawyer Taking Your Clothes as Collateral for Fees?

Posted by Wesley Scott on September 6

We cannot either. Recently, we heard of one Minnesota law firm that seems so hard up for money they actually take their clients clothing, along with furnishings and appliances, as collateral for their fees. We cannot imagine anything more distasteful than this. Bankruptcy lawyers are supposed to protect their clients assets not expose them to creditors, and especially themselves. Instead, the lawyer seizes an opportunity to take their clients property as collateral? Ridiculous. At LifeBack Law Firm we would never engage in this kind of chicanery to get paid.

Read More

What Is My Right to Amend My Bankruptcy Schedules in Minnesota?

Posted by Jake Peden on September 5

A fundamental part of the bankruptcy process, is that the person(s) filing for bankruptcy relief must file schedules, statements and related documents, which are true, complete, and correct to the best of their knowledge, information and belief.

When disclosing the bankruptcy filer’s assets, it is important that all interests in property or assets (even if contingent) are disclosed. However, it is inevitable that from time to time, things may be overlooked or forgotten about.

Read More

Watch Out for Good Deeds When Helping a Friend in Bankruptcy

Posted by Col Ovik on September 4

Everyone knows the old adage, no good deed goes unpunished, and this is also true in bankruptcy. So, while it may be noble to help out a friend or family member, it can also complicate your bankruptcy. Expensive gifts, gifted while you are insolvent can be a point of contention in your bankruptcy, but what about other good deeds: lending money, co-signing on loans, or taking out loans for someone else?

Read More

Are You Over Withholding on Your Paychecks in MN?

Posted by Jesse Horoshak on September 3

If you are one of the millions of Americans that are unable to meet their monthly debt obligations, but are having trouble figuring out why, it may be because you are withholding too much from your paychecks for income tax.

Read More

Additional 2021 Child Tax Credit and Bankruptcy in MN

Posted by Charles Nguyen on September 2

On March 11, 2021, the American Rescue Plan Act was signed into law. Part of this law expended the existing child tax credit for tax year 2021.

Instead of applying up to $2,000 per qualified child, the amount was increased to $3,600 for a child under the age of 6 and $3,000 for a child aged 6 – 17. In addition, a household would receive half of either $3,600 or $3,600 in direct monthly payments between the months of July and December 2021.

Read More

What is the “Automatic Stay” and How Will a Bankruptcy Protect Me From Creditors?

Posted by Tim Tonga on September 1

Whether you file for a chapter 7 or chapter 13 bankruptcy, you will be protected from most collection efforts from most types of creditors. This protection begins on the very day you file your case until the day your case is closed, which typically occurs shortly after the court enters the Order discharging your debts. This court protection from creditors is known as the “automatic stay” and is provided by Section 362 of the Federal Bankruptcy Code.

Read More

Understanding Minnesota Law to Protect Your Property – Part VIII

Posted by Charles Nguyen on August 24

In this discussion, I am going to focus on Minn. Stat. § 550.37, subd. 12 and 12a, referencing how bankruptcy can affect manufactured homes and vehicles in Minnesota.

I am going to skip over subdivision 11, which covers “beneficiary associations” because this law was found unconstitutional. See the court decision, In re Tveten, 402 N.W.2d 551 (Minn. 1987).

Read More

What Happens During a Bankruptcy Case in Minnesota?

Posted by Amanda Scharber on August 23

During your bankruptcy case there are going to be moving parts. There will be at least one hearing you have to attend (typically only one), your date for discharge, and more.

Read More

Tax Consequences of Debt Settlement in Minnesota

Posted by Jesse Horoshak on August 20

Are you considering foregoing a bankruptcy filing in favor of attempting to settle your debt? Whether you're attempting to settle debt directly with your creditors or with some third-party debt relief agency, it is important to first consider the potential tax consequences that will arise from pursuing debt settlement.

Read More

Repayment of Loans Before Filing Bankruptcy in Minnesota

Posted by Col Ovik on August 19

It is tempting to repay friends and family members while before filing a bankruptcy. After all, these are the people that were there for you when you were in a bind. So naturally, when you find yourself in a position to finally repay a friend or family member that is exactly what you are going to do.

Unfortunately, repayments of loans to family members and close friends are considered preferential payments.

Read More

Can I Change My Mind to Get Out of Bankruptcy Just Filed in Minnesota?

Posted by Tim Tonga on August 18

The court can dismiss your case, upon request of the bankruptcy trustee, for good cause, including things like unreasonable delay by the debtor, failure by the debtor to timely file documents, failure by the debtor to pay fees, and failure to make payments in a chapter 13 plan.

Dismissal is typically granted when the debtor does not fulfil their obligations under the Bankruptcy Code to the harm of creditors. However, is it possible for the debtor to voluntarily dismiss their case on their own?

Read More

Does the Bankruptcy Court Know How Much Stuff I Have and Its Worth?

Posted by Jake Peden on August 13

A common question I get from Minnesotans who are suffering from debt and considering filing for bankruptcy relief is: “how does the court know how much stuff I have and what it is worth?” The answer is very simple. We tell them.

Read More

How Does Filing Chapter 7 Bankruptcy Affect Filing Taxes in Minnesota?

Posted by Jesse Horoshak on August 12

If you have filed a bankruptcy, or are considering filing a bankruptcy, you may find yourself wondering if there is anything different you would need to do when filing your tax returns following a bankruptcy filing. In most cases, the answer is no, but in some cases, there may be an extra form that you might need to file.

Read More

How Do I Qualify to File a Chapter 7 Bankruptcy in Minnesota?

Posted by Tim Tonga on August 10

Individual people can file either a Chapter 7 or Chapter 13 bankruptcy in order to get relief from their personal debt. Chapter 7 bankruptcies are typically the more attractive option to potential bankruptcy filers for a couple of reasons. First, people in a Chapter 7 bankruptcy are not required to make any payments towards their debt like they do in a Chapter 13. Second, a Chapter 7 typically lasts only a few months, unlike a Chapter 13, which lasts 3 to 5 years.

Read More

Does the Value of My Home Matter in Minnesota Bankruptcy?

Posted by Jake Peden on August 9

When I meet with clients who own their home, protecting their loved ones and their family home are the number one concerns. As far as protecting your home in bankruptcy goes, Minnesota is one of the best states in the country as far as protecting your equity. Currently, you can have up to $450,000.00 worth of home equity and not lose any of it in filing for bankruptcy relief.

Read More

Should I File Chapter 7 or Chapter 13 Bankruptcy in Minnesota?

Posted by Charles Nguyen on August 5

Individuals looking for a fresh start seek a bankruptcy to get rid of their overwhelming debt. They may be able to file under a chapter 7 or chapter 13, or they may be eligible for just a chapter 13.

Read More

Can Bankruptcy Help Me With My Medical Debt in Minnesota?

Posted by Tim Tonga on August 4

There are lots of reasons that people file for bankruptcy. One very common reason is because they have lots of medical debt. Medical services can be very expensive, particularly for those who have no or little insurance. Medical debt is considered general unsecured debt, just like credit cards and personal loans that are not secured by any collateral. This type of debt can be completely wiped out by a bankruptcy discharge.

Read More

Are You Over Withholding on Your Paychecks in Minnesota?

Posted by Jesse Horoshak on August 3

If you are one of the millions of Americans that are unable to meet their monthly debt obligations, but are having trouble figuring out why, it may be because you are withholding too much from your paychecks for income tax. Although it may not be the only reason, one simple change to your withholding, could put more money in your pocket each pay period.

Read More

Can I File a Bankruptcy in Maple Grove MN If I Only Recently Moved Here?

Posted by Jesse Horoshak on June 30

People move from state to state for several different reasons—taking a new job opportunity, attending school, following a loved one, or getting a fresh start are just a few—and when they move, they might leave behind family, friends, or belongings, but one thing that does not stay behind is their debt. Because this is true, it is very common for people who have just moved to a new place to inquire about their ability to file a bankruptcy to get a fresh start.

Read More

Will I Have to Go to Court After I File for Bankruptcy in Minnesota?

Posted by Tim Tonga on June 30

The prospect of having to file for bankruptcy can be daunting and intimidating, especially for someone who has never filed for bankruptcy, or maybe, has never even been in court before.

Most bankruptcy cases are very routine and are relatively simplistic in terms of the process. Often, the most challenging part of the process is preparing the initial petition and accompanying court paperwork to be filed with the court. For this reason, it is always advisable to consult with an experienced bankruptcy attorney before filing for bankruptcy.

Read More

What Chapter 13 Payments Will I Owe in Minnesota?

Posted by Col Ovik on June 28

When filing a Chapter 13 bankruptcy the number one question by potential clients is: what will be my monthly payment? There are many factors that are considered when determining a chapter 13 payment:

  • income,
  • necessary expenses,
  • non-exempt assets,
  • repayments to creditors in the 90 days prior to filing,
  • and repayments to friends and family members.
Read More

What are the Timing Requirements for Filing Bankruptcy After a Prior Filing in Minnesota?

Posted by Amanda Scharber on June 26

When you have filed and received a discharge in a prior chapter 7 or chapter 13, timing matters if you want to receive a discharge in a new case.

Read More

What Are Non-Exempt Assets in Bankruptcy in Minnesota?

Posted by Amanda Scharber on June 25

In bankruptcy there are certain exemptions you can choose from. These exemptions are what protect your assets from liquidation and asset seizure.

Read More

Can I File Bankruptcy on Only One Creditor in Minnesota?

Posted by Col Ovik on June 24

Occasionally clients will tell me that they would only like to file bankruptcy on one or just a few of their creditors. While this is not entirely possible, there are some similar options.

Read More

Chapter 13 Bankruptcy Plan Payments in Minnesota

Posted by Jesse Horoshak on June 23

Commonly, our Chapter 13 Bankruptcy clients are concerned about what their payments will be and for how long will they have to make them. Although we understand that it is frustrating that we cannot immediately provide a nice, short answer, the truth is that plan payments and the length of the plan vary from bankruptcy to bankruptcy, and it is a process to get to the proposed amount.

Read More

Minnesota's Largest Bankruptcy Law Firm Has a New Name

Posted by Wesley Scott on June 22

We wanted to create a name that was congruent with who we are. We wanted to create a name that answered what do we do and have it more relevant to our marketing ethos in Minnesota. So we kicked back and brain stormed different names. We were going from Kain & Scott, P.A. to what name would fit us the best? After muddling our way through close to 500 names, we chose LifeBack Law Firm, P.A.!

Read More

What Does Bankruptcy Do to My Credit in Minnesota?

Posted by Wesley Scott on June 21

A lot of people who suffer with debt want to know how does bankruptcy affect my credit? There are all kinds of misconceptions about bankruptcy in the marketplace. I have had some people tell me they didn’t think they could get any credit after they filed a bankruptcy.

This is not true at all. Over the many decades, LifeBack Law Firm has helped literally tens of thousands of Minnesotans get their lives back and most of them go on to obtain credit. Most go on to purchase homes and vehicles and all sorts of other items.

Read More

How Chapter 7 Can Protect You From Your Creditors

Posted by Margaret Henehan on June 18

Chapter 7 bankruptcy, also commonly referred to as the “fresh start” bankruptcy, is one of the most commonly filed bankruptcies in Minnesota for several good reasons. Not only immediately after you file a Chapter 7 are you protected from any creditors, but creditors are not allowed to repossess or foreclose on any property while you are in a Chapter 7.

Read More

Why Am I Asked About Receiving Any Inheritance During Bankruptcy?

Posted by Col Ovik on June 17

During your bankruptcy you will be asked about the likelihood that you may inherit any property or money. Your attorney will likely ask you this question and the trustee will also let you know if you do inherit any funds during the bankruptcy you need to let the trustee’s office know. Why? Because the bankruptcy estate will have an interest in the inherited property.

Read More

How to Manage Your Finances When Planning on Filing for Bankruptcy

Posted by Tim Tonga on June 16

People file for bankruptcy when their debt becomes too much to handle and they need financial relief. A common concern people have is how they should be spending their money and what debts they should be paying when they are contemplating filing for bankruptcy in the near future.

Read More

What Is a Chapter 13 Plan Modification in MN and Do I Need One?

Posted by Amanda Scharber on June 15

During the three to five years of a chapter 13 bankruptcy your life will likely change. Whether it is because of finances, relationships, property, or your health. That is why chapter 13 bankruptcy plans can ebb and flow with you.

Read More

Limiting the Impact of the Bankruptcy on the Non-Filing Spouse in MN

Posted by Col Ovik on June 14

Bankruptcy provides an avenue for an individual to address their debt. It can provide a lot of relief. But, not everyone needs to or should file bankruptcy. What happens when only one of the partners in a marriage needs to file bankruptcy? The first question that needs to be addressed is, does the other spouse have any debt where it would make sense for them to file as well.

Read More

What Is Chapter 7 Bankruptcy and How It Works in Minnesota

Posted by Wesley Scott on May 17

Bankruptcy is a serious legal tool that shouldn't be entered into lightly. Fortunately, it can, in specific situations, help you move forward toward greater financial freedom.

Chapter 7 is a specific chapter in the federal bankruptcy laws that represents what is known as straight or liquidation bankruptcy and that can wipe your financial slate clean.

Read More

What Is Chapter 13 Bankruptcy And How It Works In Minnesota

Posted by Wesley Scott on May 10

If you’re currently facing financial issues, it can color everything you do and can make your financial future seem bleak at best. If your financial situation seems insurmountable, help may be available in the form of a Chapter 13 bankruptcy. While bankruptcy is obviously not the answer for everyone in every financially dire situation and is a fairly drastic move, it can – in certain situations – give you the kind of financial reboot you need to move forward with renewed confidence and purpose.

Read More

What is Bankruptcy? A Minnesota Bankruptcy Lawyer Explains...

Posted by Wesley Scott on May 7

Bankruptcy is a legal process that offers individuals and companies facing overwhelming debt with the opportunity of a fresh start. The bankruptcy process can eliminate debt and halt the efforts of your creditors. In the long run, it can also improve you credit score and ability to obtain a loan.

Read More

What Happens when you File Bankruptcy in Minnesota?

Posted by Wesley Scott on May 3

Filing for bankruptcy in Minnesota could be the first step on your path to a financial fresh start. However, the exact steps along that path will depend on a few factors including the type of bankruptcy proceeding you have selected.

Read More

What Happens to My Bankruptcy Co-Signer When I File in Minnesota?

Posted by Wesley Scott on April 21

When you receive your bankruptcy discharge, your liability on the debt is discharged, but your co-signors isn’t. What will happen to them after you file and whether their credit will be impacted by your filing are common questions.

Read More

What's the Process for Handling Unprotected Property in Chapter 7 Bankruptcy?

Posted by Tim Tonga on April 19

In most chapter 7 cases, the debtor does not have to give up any property because all the property they have is exempt, and therefore, protected, under law. However, in certain cases, some debtors may have property that is not protected.

Read More

How Does Chapter 7 Bankruptcy Really Work in Minnesota?

Posted by Wesley Scott on April 15

A lot of Americans want to know, how does a Chapter 7 Bankruptcy really work? This article dissects a Chapter 7 Bankruptcy from the moment it becomes a thought in your head to when you actually get your life back after bankruptcy.

Read More

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.

Read More

How Does Wage Garnishment Work in Minnesota?

Posted by Jesse Horoshak on April 10

Wage Garnishment is one of the most pressing concerns for a great deal of our potential clients. They want to know if creditors can garnish their wages, and if so, when it can happen and how much can they take.

Unfortunately, the answer to the first question is yes, under Minnesota state law, the creditors have the right to levy on any available non-exempt property, and that includes a portion of your wages.

Read More

What You Need to Know About Credit Unions and Filing MN Bankruptcy

Posted by Margaret Henehan on April 9

Credit Unions operate differently than banks in many aspects, and there are a few big differences in how credit unions operate within the bankruptcy world.

Read More

Bankruptcy Planning for Non-Exempt Assets in MN

Posted by Col Ovik on April 8

When you find yourself on the brink of filing bankruptcy, you can do some bankruptcy planning, and you should. When filing a chapter 7 bankruptcy, it is important to remember this is a liquidation bankruptcy, so non-exempt assets and funds will be liquidated to pay your creditors. There are times when bankruptcy filers find themselves with more non-exempt assets than originally expected, and rather than have the assets liquidated in the bankruptcy, they decide to spend, sell or use the asset.

Read More

How Can Disposable Income Impact My MN Bankruptcy Case?

Posted by Amanda Scharber on April 7

You may have heard the words disposable income come up when you have researched bankruptcy. Disposable income is what is left after you take your income and minus all reasonable and necessary expenses. In terms of bankruptcy, what does it actually mean and can it impact you?

Read More

Will I Have to Go to Court After I File Bankruptcy in MN?

Posted by Tim Tonga on April 6

The prospect of having to file for bankruptcy can be daunting and intimidating, especially for someone who has never filed for bankruptcy, or maybe, has never even been in court before. Most bankruptcy cases are very routine and are relatively simplistic in terms of the process. Those filing standard bankruptcy will not have to go to court in the traditional sense or like a criminal prosecution with a jury. Instead, those filing attend a creditor's meeting at a courthouse, or during COVID-19, remotely.

Read More

Timing Matters When You File Bankruptcy in MN

Posted by Jake Peden on April 5

For most people, considering “when” you should file bankruptcy can be as important as the decision of “if” you should file for bankruptcy.

Read More

The Flexibility in a MN Bankruptcy Chapter 13 Payment Plan

Posted by William Kain on April 3

I posted recently about the composition of a chapter 13 payment. A number of factors – not simply a budget calculation – go into determining the final payment amount. And that recent post only covered some of the considerations. Here are some more things to keep in mind in determining what a monthly chapter 13 payment will be.

In some cases, the amount that has to be paid over the lifetime of a plan – attorney fees, trustee fees, auto loan payments, mortgage arrears, tax arrears, etc. – works out to a higher monthly payment that a debtor can afford right now. Does that mean that a chapter 13 simply won’t work in this situation? Not necessarily.

Read More

What Happens If I Cannot Make My Bankruptcy Chapter 13 Payments in MN?

Posted by Jake Peden on April 2

A debt reorganization bankruptcy, also known as chapter 13 bankruptcy, allows people in debt to restructure their finances and dedicate their future “disposable income” towards repaying past debts. In bankruptcy payment plans, the debtor(s) has the ability to restructure their debts, prioritize what is important, and make a single monthly payment which then gets divided up to prescribed parties by a bankruptcy trustee.

Read More

Kain & Scott IS Minnesota's Bankruptcy Law Firm

Posted by Wesley Scott on April 1

Kain & Scott has been protecting Minnesotans from their creditors since 1972. We have ironed out the process for filing bankruptcy in Minnesota to make it the smoothest possible for our guests. At Kain & Scott, we have no worksheets to fill out and our staff HELP you all the way. We don’t sign our guests up and say good luck to them. No, at Kain & Scott, from the very moment you reach out to us, we hold your hand through the whole process.

We know it took courage for you to reach out to us for help. We honor that courage by delivering the most kind, helpful, professional, and exceptional customer service of any bankruptcy law firm in Minnesota. How do we know this to be true? Kain & Scott is Minnesota’s HIGHEST Google reviewed bankruptcy law firm in Minnesota.

Read More

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.

Read More

MN Bankruptcy and Credit Scores: What Is the Real Truth?

Posted by Jake Peden on March 30

“What effect will filing bankruptcy have on my credit score?” is probably the most common question I get during my first consultations with Minnesotans. My response starts with: “what is your current credit score now?”

Read More

§ 341 Meetings in Minnesota: Then and Now

Posted by Jake Peden on March 29

11 U.S.C. § 341 provides: “Within a reasonable time after the order for relief in a case under this title, the United States trustee shall convene and preside at a meeting of creditors.” It further provides: “The court may not preside at, and may not attend, any meeting under this section including any final meeting of creditors.”

Read More

Minnesotans Needing to File Bankruptcy Turn to Kain & Scott

Posted by Wesley Scott on March 28

At Kain & Scott, we promise you, “we don’t judge you, we HELP you get your life back!” To us, getting your life back means eliminating debt and repairing your credit using Kain & Scott’s FREE 90-Day Credit Repair Program. So debt gone + repairing your credit = life back.

How do we eliminate unwanted debt? Easy, we turn to either Chapter 7 or Chapter 13 Bankruptcy to help eliminate unwanted debt. Following your discharge, we send you through Kain & Scott’s FREE 90-Day Credit Repair Program, valued at up to $3,250.00.

Read More

What Is the Minnesota Working Family Credit and Earned Income Credit?

Posted by Serena Seashore on March 27

The Minnesota Working Family credit is a refundable credit for working individuals whose income is below a certain level. This credit can reduce what you owe and could result in a refund. You must be a full year or part year Minnesota resident and not prohibited from claiming the IRS Earned Income Tax Credit. The credit amount depends on your income, filing status, and number of qualifying children.

Read More

Filing Bankruptcy in MN? Know That You Are Not Alone

Posted by Wesley Scott on March 26

In today’s world, it can be easy to feel like you are alone. I actually think that “loneliness” is one of the biggest health challenges we face in the world today. Prior to the pandemic, we were already tail spinning our way into a world where we communicate virtually (think Facebook, Twitter, and a myriad of other ways). Once the pandemic hit, our tail spin has become a complete vertical drop into the virtual abyss. The farther away we get from human to human contact, the worse it becomes.

Read More

Minnesota Chapter 13 Co-Debtor Stay and Taxes

Posted by William Kain on March 25

The co-debtor stay is a nice feature of chapter 13 bankruptcy. When an individual files a bankruptcy case, there is an automatic “stay” that is put in place by the Bankruptcy Court. The automatic stay prevents creditors from collecting against a bankruptcy debtor. In chapter 13 that stay can also, in many cases, extend to co-signers and joint account holders. As long as the chapter 13 case is pending, other people obligated on debts that are “in” a chapter 13 case can be protected by the same automatic stay.

Read More

Taking That First Step Towards Filing MN Bankruptcy

Posted by William Kain on March 24

Financial problems can generate so much stress that it is difficult for a lot of people to collect financial information – embarrassment and anxiety can cause good people to shut down by not opening mail, answering phone calls or even checking bank balances because of the paralyzing fear that the news is going to be bad.

Still, if someone decides that filing a bankruptcy case is in their best interest, the lawyer representing the client has to prepare a bankruptcy petition and schedules that accurately reflect the client’s financial situation.

Read More

What Happens to My Bank Account During Bankruptcy in Minnesota?

Posted by Tim Tonga on March 23

Both the Federal Bankruptcy Code and Minnesota State law contains a number of provisions that protect the funds in a debtor’s bank account, along with other property from being taken to pay creditors. Property protected, under law, from creditors is considered “exempt.” In a chapter 13 bankruptcy.

Read More

Understanding Minnesota Law to Protect Your Property – Part 7

Posted by Charles Nguyen on March 22

In Minnesota, you are allowed to exempt or protect proceeds stemming from the death of your spouse or parent up to $50,000. You may protect or exempt $12,500 more for each dependent or child. If you have received funds from an unfortunate event such as this and are considering filing bankruptcy, consider letting Kain & Scott help you protect your property and funds.

Read More

What Information and Documents Do I Need For My MN Bankruptcy Case?

Posted by Tim Tonga on March 21

Many people are naturally anxious about what kind of information and documents they will need to provide in their Minnesota or any bankruptcy case. Given the social stigma about filing for bankruptcy, people often feel ashamed when they decide to file bankruptcy (although they should not!) and are, understandably, worried about having to disclose sensitive information regarding their financial situation and the matters leading up to their case being filed.

Read More

Who Comes Up With the Chapter 13 Payment Amount in Minnesota?

Posted by Margaret Henehan on March 20

A chapter 13 bankruptcy is similar to a debt consolidation plan. All of your unsecured debt will receive a percentage of what is owed. Normally that percentage is not 100%, or in other words, paying back the debt in full, but instead paying a small portion of it. A common question I hear is, who comes up with what amount is paid back, the creditors, the trustee, a judge?

Read More

Understanding Minnesota Law to Protect Your Property - Part 6

Posted by Charles Nguyen on March 19

In my last installments about understanding Minnesota law to protect your property (Part 5), I discussed tools of the trade and farm machine. In those cases, I was able to find case law to help describe those laws as viewed by a court. Here, the case law is sparse, so I’m going to keep it brief, but still speak on the subject if when you are allowed to exempt property in Minnesota.

Read More

If My Income Increases After the Pandemic, Will It Affect My Bankruptcy?

Posted by Serena Seashore on March 18

Everyone is in the same boat when it comes to the unknown of how this pandemic will continue to affect our lives. It can be safely assumed that a majority of people seek normalcy in their day-to-day lives, social aspects, and financial security. Although we are unable to predict the future, we can inform you of what to expect from your Minnesota bankruptcy when the pandemic subsides and hopefully, is eradicated.

Read More

Your Minnesota Bankruptcy Chapter 13 Payment Plan

Posted by William Kain on March 17

Chapter 13 payment plans can solve a lot of financial problems: mortgage arrears can be cured, expensive car loans can be restructured, and assets that would have to be surrendered to a chapter 7 trustee can be retained. This is accomplished through a chapter 13 plan where a debtor pays a specified amount of money to the chapter 13 trustee over a defined period of time.

Read More

How Does Filing a Bankruptcy Protect Me in Minnesota?

Posted by Jesse Horoshak on March 16

Have you heard the phrase “bankruptcy protection” and wondered how a bankruptcy could protect you? Most potential bankruptcy clients usually have a sense of what filing a bankruptcy means, but are often unsure of how the process actually works.

One common question that potential clients have is "How does filing a bankruptcy protect me?" The short answer is that through something called the Automatic Stay, most creditors are prevented from continuing the collection activity during bankruptcy, and many debts may even be dismissed.

Read More

Do I Have to Complete Credit Counseling Before Filing Bankruptcy in MN?

Posted by Margaret Henehan on March 15

Everyone that files bankruptcy is required to take a court mandated credit counseling course prior to filing. This can be done either online or by telephone, and usually takes between 30-60 minutes to complete. At Kain and Scott, P.A., we would provide you the website or phone number to use, and the fee for such a course as part of our services.

Read More

Understanding Minnesota Law to Protect Your Property - Part 5

Posted by Charles Nguyen on March 14

Under Minn. Stat. § 550.37, subd. 6, you are allowed to exempt property if your interest in that property consists of “tools, implements, machines, instruments, office furniture, stock in trade, and library reasonably necessary in the trade, business, or profession of the debtor…”.

Read More

What To Do When You Owe Joint Tax Debt in MN With a Non-Filing Spouse or Ex

Posted by Col Ovik on March 13

If you file bankruptcy and your spouse does not file with you, your spouse will remain liable on any joint debt. In a chapter 13 bankruptcy filing, priority debts like tax debt must be paid in the plan or through the bankruptcy. This is great news if you want a payment plan for your tax debt. However, the co-debtor on the tax debt is not protected by the automatic stay in a chapter 13 bankruptcy from the taxing authority.

Read More

Useful Tips for Your First Bankruptcy Appointment in MN

Posted by William Kain on March 12

It’s tough to pick up the phone and call our office to set up an appointment to speak with one of the attorneys at Kain & Scott about your financial troubles. Everyone at our office knows this, and we honor your courage in making that call. When you’ve made the phone call and set up the appointment – whether it’s in-person, over the phone, or using a video platform – we want to shift our focus to having that first meeting be productive for both you and us.

Here are some ways that our clients help us provide the best service we can.

Read More

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.

Read More

What Happens After the 341 Bankruptcy Meeting in MN?

Posted by Wesley Scott on March 10

As a refresher, the 341 meeting is a 5-10 minute meeting with the bankruptcy trustee. During the meeting the trustee will ask you questions to verify the information in your case. Typically these meetings take place a month after your case has been filed.

What happens after the 341 meeting will depend on what type of case you have and whether you file a chapter 13 bankruptcy, a chapter 7, or have a no asset case or an asset case.

Read More

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.”

Read More

What Tax Ramifications Are There When Filing Bankruptcy in MN?

Posted by Serena Seashore on March 8

The concept of discharge can prove to be a bit confusing to individuals not directly involved in the field of bankruptcy. Essentially, discharge means the debt is forgiven or canceled, and the creditor has either agreed to the debt being wiped out or the creditor is prohibited from pursuing future payment. Bankruptcy can only cancel debts that exist at the time the petition is filed.

Read More

What to Expect at Your Bankruptcy 341 Meeting in Minnesota

Posted by Amanda Scharber on March 6

As a refresher, the 341 meeting or meeting of creditors, is a 5-to-10-minute hearing, where the bankruptcy trustee for your case asks you questions. Typically, these questions are yes or no response and are used to verify the information in your case.

Read More

What Happens to My Retirement Accounts When I File Bankruptcy?

Posted by Margaret Henehan on March 5

When you file bankruptcy, there are certain assets the bankruptcy laws let you protect. The laws are designed so that you aren’t left destitute for filing bankruptcy. One of the assets we can protect are retirement accounts. The laws want to make sure you don’t have to lose money that you will need to rely on years down the road.

Read More

What Your Co-Debtor Needs to Know When You File Bankruptcy in MN

Posted by Col Ovik on March 4

Filing bankruptcy is a court action, so it is public, but most people do not keep tabs on the current bankruptcy filings. However, if you have any shared or joint debt with your ex, the answer is unequivocally yes, they will be notified of the bankruptcy filing because they are a co-debtor.

Read More

Can a Bankruptcy Trustee Take My Recovery Rebate Credit in Minnesota?

Posted by Margaret Henehan on March 3

When you do your taxes this year, your 2020 tax returns, you may encounter the Recovery Rebate Credit. The Recovery Rebate Credit is a protected asset in every bankruptcy case, chapter 7 or chapter 13. If you are owed this credit, this is not money that the trustee could ever get their hands on.

Read More

Searching for a Chapter 7 Bankruptcy Lawyer Near Edina, MN?

Posted by Wesley Scott on March 2

Not far down the road from Edina, there is a Kain & Scott fully staffed bankruptcy law office 40 hours per week just inside Eden Prairie, Minnesota. In fact, Kain & Scott has the most full time staffed offices in Minnesota than any other Minnesota bankruptcy law firm, all focused on helping you through your bankruptcy in Edina, MN.

Read More

Should I Be Paying Down Secured Debts Before Bankruptcy in Minnesota?

Posted by Col Ovik on March 1

When you are on the verge of filing bankruptcy it may seem tempting to pay down some secured debts. People fall into the trap of taking exempted funds out of retirement accounts and using those funds to pay down their secured loans. Unfortunately, this type of bankruptcy planning can backfire.

Read More

You Are Not Alone

Posted by Wesley Scott on February 28

One of the benefits of being an alumnus of Saint John’s University is having access to a daily reflection written by one of the monks at Saint John’s Abbey. Every morning at 1:00 a short reflection by Fr. Don Talafous drops into my email timeline.

Read More

How Do My Creditors Get Notice When I File Bankruptcy in MN?

Posted by Jake Peden on February 27

The Office is one of my favorite TV shows of all time. In one of the more memorable episodes, Michael Scott tries to “declare bankruptcy” simply by shouting it for everyone in the office to hear. Bankruptcy law dates back to 1542 in England, but even back then, I don’t think shouting that you declare bankruptcy would be enough to put your creditors on notice.

Read More

Should I Use Retirement Funds to Pay My Debt in MN?

Posted by Jesse Horoshak on February 26

When individuals are faced with crushing debt, and unable to meet their monthly obligations, one of the logical questions they struggle with is whether they should use their retirement funds to pay the debt. There are few things about my job that break my heart more than hearing clients that are at, or close to, retirement age have used their retirement funds to pay their debt.

Read More

Can Filing Bankruptcy in MN Reduce My Auto Loan Payments?

Posted by Jesse Horoshak on February 25

I commonly meet clients that have really high auto loan payments, who are wondering if we can help by reducing their monthly payments in a chapter 13 bankruptcy. The short answer is Yes, but there are criteria that need to be met.

Read More

Can a Bankruptcy in Minnesota Wipe Out My Traffic Tickets?

Posted by Margaret Henehan on February 24

Bankruptcy can discharge a lot of different types of debt. With debt like a traffic ticket, this is debt that is owed to either the city, county, or the state depending on where the citation was issued. In other words, this is debt owed to the government.

Read More

When Can I File Bankruptcy Again in Minnesota?

Posted by Amanda Scharber on February 23

When you have filed and received a bankruptcy discharge in a prior chapter 7 or chapter 13 in Minnesota, timing matters if you want to receive a discharge in a new bankruptcy case.

 

Read on for the time restraints on filing Chapter 7 or Chapter 13 after a previous bankruptcy. Take note that the times are different depending on which chapter, chapter 7 or chapter 13, you previously filed.

Read More

Understanding Minnesota Law to Protect Your Property - Part 4

Posted by Charles Nguyen on February 22

From the ancient Mississippian people who grew crops near present-day Winona, to European immigrants farming in Jordan, and to present-day family farms, Minnesota has a rich farming history.

Read More

Will I Lose My Tax Refund If I File Chapter 7 in Minnesota?

Posted by Jesse Horoshak on February 21

One of the most common questions that we hear around this time of year is whether potential clients will lose their tax refunds if they decide to file a Chapter 7 bankruptcy.. The short answer is that it really depends on each individual situation, but in a great many of the cases that we file, the tax refunds can be protected. 

Read More

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.

Read More

Mechanics Liens and Bankruptcy in Minnesota

Posted by William Kain on February 19

In Minnesota, contractors, laborers and material suppliers are entitled to file a mechanics’ lien against real estate they have “improved” – by constructing, remodeling or repairing structures on the property – and for which the property owner has not paid. Filing bankruptcy before or after a mechanics lien can cause different scenarios.

Read More

Is There a Minimum Debt Requirement to File Bankruptcy in Minnesota?

Posted by Amanda Scharber on February 18

Whether there is a minimum debt requirement to file bankruptcy is a common question. The answer is no, there is no legally defined minimum amount of debt you need to file either a chapter 7 or chapter 13 bankruptcy. 

Read More

Have Your Chapter 13 Payments Become Unaffordable in Minnesota? Let Us Know!

Posted by William Kain on February 17

One of the great features of Chapter 13 bankruptcy is that the monthly payment the debtor makes is based on the debtor’s budget. In theory, the Chapter 13 payment is always affordable for debtors. Unfortunately, because your circumstances may change, your Chapter 13 payments may become unaffordable. We can help.

Chapter 13 bankruptcy cases are repayment plans that can be an effective tool to use to resolve financial problems in a variety of scenarios. Chapter 13 gives people a way to restructure their finances while being able to retain their home, their car, and other assets that would otherwise have to be turned over to creditors.

Read More

Are You Looking for a Bankruptcy Attorney Near Me in Foley, Minnesota?

Posted by Wesley Scott on February 16

Just down the road from you is St. Cloud, MN where you will find Kain & Scott, Minnesota’s HIGHEST Google reviewed bankruptcy law firm. We can meet you in person or we can meet with you via phone, Skype, or even Zoom. If you find yourself a resident of Foley, Minnesota, or the surrounding area, and you are suffering with debt, Kain & Scott is nearby, and we can help you get your life back!

Most people like to choose a bankruptcy professional that is not from their hometown for privacy reasons. I totally understand this as I like my privacy as well. Reaching out to Kain & Scott in nearby St. Cloud, Minnesota gives you the closeness you want, but yet the confidentiality you demand too. Over the years, Kain & Scott has helped numerous residents of Foley and the surrounding area get their lives back by smacking the reset button and moving on with your life.

At Kain & Scott, we understand the courage it takes to reach out for help, and we honor that courage by having the most kind, helpful, professional staff that deliver the best customer service of any other bankruptcy law firm in the state of Minnesota. Want proof? Just read our Google reviews and see for yourself what our clients and former clients have to say about our level of service to our guests. You will read words like friendly, kind, helpful, professional, etc.

By reading our Google reviews you don’t have to take our word for it, take the word from your own family and friends that have used Kain & Scott to get their lives back over the years too.

Read More

Are There Tax Ramifications to Filing Bankruptcy in Minnesota?

Posted by Serena Seashore on February 15

The concept of discharge can prove to be a bit confounding to individuals not directly involved in the field of bankruptcy, especially when it comes to how that debt is taxed or not taxed.

Essentially, discharge means the debt is forgiven or canceled, and the creditor has either agreed to the debt being wiped out or the creditor is prohibited from pursuing future payment. Bankruptcy can only cancel debts that exist at the time the petition is filed.

Read More

Can You File Bankruptcy and Keep Your Home in MN?

Posted by Tim Tonga on February 14

One of the most common concerns people have when considering filing for bankruptcy is whether they will be able to keep their house. Bankruptcy law provides a great deal of protection for the homes of those who file for bankruptcy (aka debtors), particularly in the state of Minnesota.

Read More

Minnesota Chapter 13 Bankruptcy Explained in Simple Terms

Posted by Amanda Scharber on February 13

Maybe chapter 13 has been mentioned to you or maybe you googled it. You know that a chapter 13 is different than a chapter 7, but how does it really work?

Read More

What Do I Say in My Minnesota Bankruptcy 341 Meeting?

Posted by Col Ovik on February 12

When you file bankruptcy, a chapter 13 or a chapter 7 filing, you will be required to attend a meeting of creditors. The meeting is conducted by the trustee, who is charged with administering the estate. But your creditors can and sometimes do attend this meeting. Very few creditors actually attend the meeting, and most of the time a bankruptcy debtor can expect that no creditors will be present.

Read More

Why Kain & Scott Doesn't Use Any Review Software to Game Google or BBB Reviews

Posted by Wesley Scott on February 11

We live in a world where reviews matter. What people think of a business matters to those prospects who are looking at doing business with a merchant, law firm, or vendor. Unfortunately, there are law firms who insist on using software to game the reviews and make it appear as if the law firm has stronger Google and BBB reviews than they actually do. How is this done?

Read More

Reorganizing Your Debts in Minnesota: Is Bankruptcy the Bets Way?

Posted by Jake Peden on February 10

While we are still learning all the effects of the COVID-19 coronavirus, the far-reaching impact of this pandemic and related government shutdowns will continue to be discovered for years. Many people have been directly impacted and been laid off, furloughed, or otherwise had their hours and compensation cut. But the even wider reaching are the effects will be felt for years and across nearly every industry.

Read More

Why Should I Seek Counsel for My Bankruptcy in Minnesota?

Posted by Serena Seashore on February 9

As bankruptcy attorneys, we will be the first to admit that bankruptcy is challenging and has many moving parts, while also being completely unique per case. At Kain & Scott, we primarily file chapter 7 and chapter 13 bankruptcies—focusing solely on the consumer.

Read More

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.

Read More

The Problem With Paying Back Family Before Filing Bankruptcy in MN

Posted by Tim Tonga on February 7

It is common for people to pay back their family members for past debts owed to them instead of paying back other creditors, such as credit card companies and medical providers. This can be problematic because Minnesota law requires creditors be paid back equitably.

Read More

Divorce Decrees and Bankruptcy in Minnesota: Think Before You Sign

Posted by Col Ovik on February 6

Many divorces today are accomplished by a default order and are never litigated. In fact, many individuals draft their own divorce decrees. While this may save you money on a divorce attorney it could end up costing you in your bankruptcy.

Read More

Who Will Be Your Bankruptcy Trustee in Minnesota?

Posted by Margaret Henehan on February 5

This is one of my most frequently asked questions from a prospective bankruptcy client. When researching bankruptcy, or speaking to people that have filed, you will hear the word ‘trustee’ come up frequently. Who is the trustee?

Read More

If You're Divorcing, a Joint Bankruptcy Is Probably Not a Good Idea

Posted by William Kain on February 4

Money problems can cause friction in relationships, and these problems can sometimes result in the relationship becoming fractured. If couples are divorcing, and they have financial problems, the lawyers for the couple will often recommend the couple file a bankruptcy case. Because of expense, many lawyers will advise that the divorcing couple file a joint bankruptcy case.

Read More

What Are My Options for Bankruptcy Appointments in MN During COVID-19?

Posted by Serena Seashore on February 3

The world is changing, so we must change too. As hopeful as we all are for what 2021 will bring us, it seems COVID-19 will be sticking around for a while. Does that mean I cannot file a bankruptcy if the court houses are closed? No! In fact, just because the physical federal courthouse building is closed, does not mean we cannot file bankruptcy cases.

Read More

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.

Read More

Should I Keep Paying My Debts When Considering Filing for Bankruptcy in MN?

Posted by Tim Tonga on February 1

People typically file for bankruptcy when their debt becomes too overwhelming for them to continue to handle. This is nothing to be ashamed of and thousands of people file for bankruptcy each year in Minnesota alone.

The bankruptcy law is designed to allow people to hit the “reset button” and be relieved from their legal obligation to pay past-due debt. Rarely do people regret filing for bankruptcy and many wish they had not waited so long to file when they finally do.

Read More

Minnesota Bankruptcy Fines and Fees - What Is Dischargeable in MN?

Posted by Serena Seashore on January 31

There are endless fines and fees associated with all walks and circumstances of life, just seems to be the theme these days. Typically, bankruptcy can assist in getting rid of the unwanted and unrelenting debt that plagues many people in society. But what about the miscellaneous fees and fines, from parking tickets, restitution, or reimbursement expenses?

Read More

Minnesota Bankruptcy Can Set You Free From Co-Signed Debts With Your Ex

Posted by Jake Peden on January 30

Relationship break-up is one of the most common reasons why people end up filing for bankruptcy, and it is easy to put your personal finances on the back-burner while coping with the stress of losing your partner in life. The problem is, that bills still keep coming due, and your creditors are not very sympathetic and understanding when your finances (and life in general) are in flux.

Read More

Understanding Minnesota Law to Protect Your Property - Part 3

Posted by Charles Nguyen on January 29

Under Minn. Stat. § 550.37, subd. 4, “[a]ll wearing apparel, one watch, utensils, and foodstuffs of the debtor and the debtor's family; and (b) household furniture, household appliances, phonographs, radio and television receivers of the debtor and the debtor's family...” are exempt. See In re Irwin, 232 B.R. 151 (Bankr. Minn. 1999).

Read More

Why Your Location Is Important in a Bankruptcy in Minnesota

Posted by Amanda Scharber on January 28

Your location is important in a bankruptcy, because it will determine the district you file in and applicable exemptions.

Read More

Why Do I Have a Tax Lien on My Home in Minnesota?

Posted by Col Ovik on January 27

When a person neglects or refuses to pay their tax debt, the IRS can obtain a lien on the tax payer’s property. The federal tax lien attaches to every interest in property that the taxpayer has or acquires during the time of the lien in effect. The IRS obtains the perfected security interest in the person’s property by filing a Notice of Federal Tax Lien with the county recorder’s office. The lien remains in effect until it is satisfied or becomes unenforceable by the lapse of time.

Read More

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.

Read More

What Are the Risks of Filing Bankruptcy Without a Lawyer in MN?

Posted by Wesley Scott on January 25

I received a phone call from someone who had recently filed a bankruptcy case by herself. She had read all of the information she could find regarding the bankruptcy process and filing bankruptcy without using a lawyer,

She had prepared the bankruptcy petition, schedules and statements to the best of her ability. She was calling me now after she had received a phone call from an assistant for the bankruptcy trustee who had been assigned to her case – and the questions the assistant asked her was making her nervous. She was looking for help.

Read More

What Is a Trust? Do I Need One in Minnesota?

Posted by Wesley Scott on January 23

A trust is an estate planning tool. Trusts can allow individuals to protect assets, avoid taxes, avoid probate and ensure that the grantor’s assets are distributed according to the grantor’s specifications.

Once a trust is created, it needs to funded. This means that the grantor, the person with the assets, needs to move assets into the trust. If the asset is real estate, the deed to the property needs to be re-deeded in the name of the trust, if the asset is a bank account, the funds need to be moved into an account titled in the name of the trust.

Read More

Are You Looking for a Chapter 7 Bankruptcy Lawyer Near Me in St. Cloud, MN?

Posted by Wesley Scott on January 22

Kain & Scott has 9 office locations in Minnesota. 7 out of the 9 are staffed full time by real live Kain & Scott people. Rochester and Mankato are staffed by appointment only. In our St. Cloud, Minnesota office we have 3 Chapter 7 and 13 Bankruptcy lawyers and numerous staff that are waiting to help you get your life back now.

Kain & Scott has been protecting St. Cloud, Minnesota residents from their creditors since 1972, longer than any other Minnesota bankruptcy law firm. What have we learned about bankruptcy since 1972? We have learned that our guests love to get their lives back and never regret the decision to file Chapter 7 Bankruptcy.

Read More

Are You Looking for a Bankruptcy Attorney Near Me in Eden Prairie, MN?

Posted by Wesley Scott on January 21

Minnesota’s largest bankruptcy law firm has an office in Eden Prairie, MN that is staffed full time. This is not one of those pretend law office locations to trick Google into appearing on Google Maps “Law Offices”. This is a fully functional and staffed bankruptcy law firm right in Eden Prairie, MN, right where you live.

Read More

Do You Have to Go to Court to File Bankruptcy in MN During COVID-19?

Posted by Margaret Henehan on January 20

While you would normally have to go to court when filing bankruptcy, COVID-19 restrictions have changed the game. It is now possible to file bankruptcy without ever having to physically go to court in Minnesota.

Read More

Will Minnesota Bankruptcy Law Change Under President Biden?

Posted by Margaret Henehan on January 19

With the election of a new president, many people are wondering what may change under a Biden presidency. In many areas of policy there may be significant changes. In regards to bankruptcy, consumer attorneys are not expecting many changes in this area of law. In 2005, then Senator Biden was instrumental in changes to the bankruptcy code, and in fact the legislation helped out big banks and creditors more so than it did consumers.

Read More

What Are Bankruptcy Preference Payments in Minnesota?

Posted by Jesse Horoshak on January 18

If you have filed a bankruptcy, or are considering filing a bankruptcy, and have done any research, you may have come across the phrase “preference payment” and asked yourself, “what does that mean?” Well, rest assured, you are not alone in asking this question. This post will discuss preference payments and what they mean with respect to a bankruptcy filing.

Read More

How Do I Keep My Car in a Chapter 7 Bankruptcy?

Posted by Tim Tonga on January 16

One of people’s biggest concerns when trying to decide whether they should file for bankruptcy is whether they will be able to keep their vehicle or not. After all, it is typically one of the most valuable assets people have and often their sole means of transportation.

Chapter 13 bankruptcies allow people to keep their property in exchange for agreeing to a 3-5 year payment plan, in which they make monthly payments towards their debts. Chapter 7 bankruptcies typically last up to 4 months and do not require any payments towards debt. The catch is that any property that is not specifically “exempt,” that is protected under the law, can be taken by the bankruptcy trustee to be sold to pay towards your debts.

Read More

What Is the Means Test?

Posted by Amanda Scharber on January 15

The Means Test is used to determine whether your income will allow you to file a chapter 7 bankruptcy.

Read More

What Happens When the Mortgage Payment Forbearance Ends?

Posted by Jesse Horoshak on January 14

Due to the ongoing COVID-19 pandemic, many mortgage lenders have allowed homeowners to take advantage of putting their mortgage payments into forbearance for varying amounts of time, and hundreds of thousands of individuals have taken advantage of these programs. With respect to these forbearance plans, the most common question that clients and potential clients are asking is: What happens when the forbearance period ends?

Read More

How Do I Know If Bankruptcy Is the Right Option?

Posted by Serena Seashore on January 13

The internet is a crazy mechanism in which the ideal answers are easily sought, even if they are not correct. This is true for any circumstance or situation you may be in; medical conditions, car repairs, DIY experiments, and even money and debt. Why this is the case? We are unsure, the internet has a reputation for a reason! However, when you search about debt solutions, such as: not being able to catch up on bills, falling behind on your mortgage, or the constant hassling from creditors, look no further than www.kainscott.com, which conveniently is located right near the top of the search.

Read More

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.

Read More

I Am Embarrassed I Have to File Bankruptcy

Posted by Col Ovik on January 11

When I meet with clients I often hear the phrase, “I am embarrassed I have to file bankruptcy”. The truth of the matter is no one wants to be the position where they are asking for help, but we all find ourselves in that position at some point. We may not all need the same type of help, but at some point everyone has to rely on someone else. There is no shame in needing help. Bankruptcy is a legal way for individuals to get the help they need. There are unforeseen and sometimes foreseen circumstance that individuals can find themselves in that are just insurmountable.

Read More

Why Is Your Bankruptcy Disclosure Statement in MN So Important?

Posted by Wesley Scott on January 9

A bankruptcy consultation typically occurs when a person seems to have run out of options. Whether it’s medical debt, trying to catch up on bills, divorce, foreclosure, etc., we completely understand that it is a difficult decision to decide to give us a call. Let us be the advocate, the listener, the adviser when life has taken some unexpected turns.

Read More

How Will a 341 Meeting in MN Have Changed Since COVID-19?

Posted by Wesley Scott on January 8

Since this pandemic has begun, it has changed our day-to-day lives in major ways. It has also drastically affected the court buildings and court systems throughout the nation. As part of the Chapter 7 and Chapter 13 bankruptcy process, there is a hearing with a trustee, referred to as a 341 meeting of creditors. This is a hearing where creditors have an opportunity to ask questions on the record regarding the debtor—it is very common for creditors to not appear though.

Read More

Why a Corporation Is a Legal Entity Separate From Its Owners

Posted by Wesley Scott on January 7

Debt is a common threat that plagues businesses and individuals alike. Sometimes, the last resort is to consider bankruptcy. Do not worry, there are personal and business related bankruptcy options for you! But first, let’s discuss the basics of business entities and debtors.

Read More

Can Creditors or Can Child Support Take My Stimulus Check in MN?

Posted by Wesley Scott on January 5

In March of this year, Congress passed the CARES Act as a result of the Covid-19 outbreak. As you may already know, included in the CARES Act were stimulus checks to individuals and families that qualified based on certain income limitations. Qualified individuals received up to $1,200 each plus $500 per child. Many Kain & Scott clients worried that their creditors would be able to levy the stimulus checks before they received the money. Mostly, clients worried about the IRS or Minnesota Revenue taking the funds to pay for any tax debt they may have. The good news is that Congress made sure to protect the stimulus checks from most creditors, including all tax agencies. That means, not even the IRS could take a stimulus check from someone.

Read More

I Failed the Bankruptcy Means Test: Now What? Part 2

Posted by Wesley Scott on January 4

The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) includes a means test set forth primarily in subsection 707(b) of the Bankruptcy Code. The Code provides that a case may be dismissed if "the granting of relief would be an abuse of the provisions of this chapter." The formula for determining whether a presumption of abuse exists is called the means test. 

Read More

Finding a Bankruptcy Attorney Near Me in Monticello, MN

Posted by Wesley Scott on January 2

There is not a single law firm in Monticello, Minnesota that focuses 100% on Chapter 7 and Chapter 13 Bankruptcy. However, just miles to the west in St. Cloud, MN or miles to the east in Maple Grove, MN, you will find the same law firm that does 100% Chapter 7 and Chapter 13 Bankruptcy work. When looking for a bankruptcy attorney it is best to choose a law firm that dedicates 100% of their time to helping people in and around Monticello, MN get their lives back by 1) getting rid of unwanted debt and 2) using Kain & Scott’s unique and FREE 90-Day Credit Repair Program.

Read More

How to Search for a Bankruptcy Attorney Near Me in Maple Grove, MN

Posted by Wesley Scott on January 1

People suffering with debt search for a bankruptcy lawyer near me because they want their lawyer to be their rock during their difficult period of life. People who are suffering with debt want empathy and compassion, not coldness and rudeness. That is exactly why residents in and around Maple Grove who are suffering with debt search Google and other search engines for phrases like “bankruptcy lawyer near me in Maple Grove, MN”. 

Read More

How Can I Find the Best Bankruptcy Attorney Near Me in Hutchinson, MN?

Posted by Wesley Scott on December 31

I am not aware of a single bankruptcy law firm in Hutchinson, MN. What I am referring to is this: I don’t believe there is a single law firm in or around Hutchinson, MN who does 100% Chapter 7 and 13 Bankruptcy work. However, Kain & Scott is close enough in St. Cloud, MN where we have an office and numerous staff dedicated 100% to helping you get your life back. A lot of residents of Hutchinson and the surrounding area prefer to look out of town for a bankruptcy attorney for privacy reasons too. No problem—we understand. Yet with technology, we can easily meet with you easier than ever.

Read More

Where Can I Find a Bankruptcy Attorney Near Me in Brainerd, MN?

Posted by Wesley Scott on December 30

There are many lawyers in and around Brainerd, MN. However, there is only one law firm that is in Brainerd, MN and whose practice is dedicated 100% to the practice of Chapter 7 and 13 Bankruptcy. Why is that important to you? Let me ask you a question. Would you want an eye doctor to perform heart surgery on you? Of course not. Would you want a foot doctor to perform heart surgery on you? Of course not. Would you like a doctor who does heart, eye, and foot surgery on your heart? Of course not. You want a heart surgeon that does only heart surgery to do your heart surgery right? Of course.

Read More

How Can I Find a Bankruptcy Attorney Near Me in Duluth, MN?

Posted by Wesley Scott on December 29

Hi! I am Wes Scott, the managing partner at Kain & Scott. When you do a Google search, the title of this blog strikes at the intention of most searchers on Google. You may not be looking for a “bankruptcy attorney near me in Duluth, MN” but my point is how often have you added those words in a Google search, “near me”? A lot right? Well, if you are suffering with a debt problem in Duluth, MN, you have come to the right place. Kain & Scott is located in Duluth and we staff our Duluth office with real people during our stated hours on our Google Map listing.

Read More

Trouble Finding a Good "Bankruptcy Attorney Near me" in Roseville, MN?

Posted by Wesley Scott on December 28

The title of this blog strikes at the intention of most Google searchers in Roseville, MN looking for a bankruptcy attorney. How often have you caught yourself Googling something “near me”? I know I have a lot. Now wouldn’t it be nice if that Google search pulled up results that reflected real-life? Like, wouldn’t it be great if I searched “Roseville, MN bankruptcy attorney near me” that the search results actually produced results including “a bankruptcy attorney near me”?

Read More

Can I Find Bankruptcy Help Near Me in Rochester, MN?

Posted by Wesley Scott on December 23

Having debt is no fun. We all want to pay our bills as they become due. Yet, if you live in Rochester, Minnesota and you are suffering with not just debt, but crippling debt, bankruptcy offers a chance to get your life back sooner than later. At the end of the day, every one of us is the same. We all want to pay our bills; but, if you put me in a position where I am forced to choose between my family and my creditors, my family should and must win.

Read More

The Best Website for Information on Filing Bankruptcy in Eden Prairie

Posted by Wesley Scott on December 22

When I research a topic, I really get annoyed at reviewing a website that doesn’t give me thoughtful and meaningful information. When I land on a website that provides useful and actionable information, I am super happy! When you are researching a topic and become frustrated because the information you are coming across is trying to use a gimmick to get you to call the law firm, you should know that they are not really committed to helping you.

Read More

I Failed the Bankruptcy Means Test: Now What? Part 1

Posted by Wesley Scott on December 21

The Bankruptcy Means Test is a legislative attempt at a formula that measures the ability of debtors to repay unsecured creditors over a period of time. The means test is a backward-looking litmus test using mathematical computations to help the court determine if the debtor is abusing the system by filing a Chapter 7 bankruptcy. The objective of the bankruptcy means test was to remove judicial discretion from the process of determining if the abuse exists.

Read More

Life After Bankruptcy Chapter 13 in Duluth, MN: Julie's Story

Posted by Wesley Scott on December 18

We’ve used a different name to protect her anonymity, but let’s call her Julie. Julie is a single woman who lives in Duluth, MN. She is highly successful and earns quite a bit of money. But like many of us, Julie suffers with short bouts of depression from time to time. When she goes through these bouts of depression her credit card use can get out of control. She gambles and buys things she often does not even need. In the end, her credit card debt simply got too high for her to manage by herself. That is when Julie called Kain & Scott, P.A.

Read More

Where Can I Find the Best Bankruptcy Information in Eagan, MN?

Posted by Wesley Scott on December 17

If you're like me, when I am looking for information on a subject I am not looking for “gimmicky” websites or superficial information. I am looking for heartfelt good information on the subject I am researching. The same is true for bankruptcy information. If you are researching Chapter 7 or 13 Bankruptcy information in Eagan, Minnesota, you want great information on what is a Chapter 7 and Chapter 13 Bankruptcy, what is the bankruptcy process and what is it like, and what are the bankruptcy fees in one spot. If this is what you are looking for you will be happy to learn that www.kainscott.com is Eagan, MN’s largest bankruptcy website.

Read More

Will I Lose My Car If I File Bankruptcy in Eagan, MN?

Posted by Wesley Scott on December 16

Many Eagan, Minnesota residents want to know, can I lose my car if I file Chapter 7 Bankruptcy? This question really is a two-part question. First, can you lose your car if you file Chapter 7 Bankruptcy when you are in an agreement with an auto lender? Second, can you lose your car in Chapter 7 Bankruptcy as a decision by your Chapter 7 trustee?

Read More

What Kind of Bankruptcy Should I File? Comparing C13 and C7 Bankruptcy

Posted by Wesley Scott on December 15

If you live in or around Eden Prairie, Minnesota there is an easy way to determine if you file bankruptcy, which Chapter you will end up in. For those of you who have the ability to make a payment back to your creditors, you must do so. For those of you who cannot make a payment back to your creditors you likely will not be doing so.

Read More

3 Steps for Choosing a Bankruptcy Lawyer in Roseville, MN

Posted by Wesley Scott on December 14

If you are looking for a bankruptcy lawyer, a Chapter 7 or Chapter 13 Bankruptcy law firm in Roseville, Minnesota, there are some things you need to be aware of. Before scheduling an appointment with a law firm, you should really take 5 minutes to research the law firm you're interested in. 5 minutes could save you a lot of head ache down the road. You don’t want to be like a client who says, “I only wish I would have read more reviews on the firm before scheduling an appointment.” We hear this all the time from clients who were dissatisfied with other law firms.

Read More

Why You Should Read Law Firm Reviews Carefully Before Filing Bankruptcy in Roseville, MN

Posted by Wesley Scott on December 11

The single biggest complaint we receive from clients who used other law firms and had a bad experience with them, is this: “I wish I would have read more reviews BEFORE scheduling an appointment with the law firm.” In other words, had prospective clients simply taken a few more minutes to read, like binge read, the law firm’s Google reviews, the client would never have scheduled an appointment with the law firm to begin with and would have avoided a lot of pain. I feel bad for these clients.

Read More

How to Spot a Fake Law Firm Advertising Chapter 7 Bankruptcy

Posted by Wesley Scott on December 10

Unfortunately, there are some law firms that lease a small space, stick a Google Map Listing on it, and call it a law office. In reality, these small spaces are occupied by someone from the law firm very sparingly. A prospective client looking at their advertisement and seeing their business hours may think the law firm has a formidable presence in Eden Prairie, when they do not. It is designed to be a mirage. A bait and switch if you will; to draw you into calling that law firm first and not someone else.

Read More

What Are Non-Exempt Assets in Chapter 7 Bankruptcy?

Posted by Wesley Scott on December 9

When you file a Chapter 7 Bankruptcy with the bankruptcy court, you are invoking the power of the court to put into place an immediate court order restricting your creditors from collecting from you on most pre-petition debts. It is an awesome power debtors have. The focus in a Chapter 7 Bankruptcy is primarily on debtor’s assets. Debtor(s) are required to fully disclose all their assets wherever located in the world. The purpose of this is to show a Chapter 7 trustee, and creditors, what debtor owns for assets and are those assets exempt or non-exempt?

Read More

Should I Stop Paying My Bills Before Bankruptcy in Minnesota?

Posted by Wesley Scott on December 8

One of the most common questions from our bankruptcy clients that we encounter daily is “Can I stop paying my bills?” The answer is an emphatic “YES!” In fact, not only CAN you stop paying your bills, but you SHOULD stop paying your bills!

Read More

What Is Life After Bankruptcy Like in Eden Prairie, MN?

Posted by Wesley Scott on December 8

I am high anxiety. I totally understand the anxiety of bankruptcy and the thought of filing bankruptcy. And yet, hundreds of thousands of Americans muscle their way through the bankruptcy process each year. In Minnesota, on an average year, over 13,000 Minnesotans file bankruptcy and get on with their lives. Right, now, as you read this blog there are thousands of Minnesotans just like you contemplating the thought of filing bankruptcy or who are actually in the process of filing bankruptcy and getting their lives back.

Read More

Do I Qualify to File Chapter 7 Bankruptcy in Eden Prairie, MN?

Posted by Wesley Scott on December 7

A lot of people who live in and around Eden Prairie, Minnesota want to know if they qualify to file a Chapter 7 Bankruptcy. To qualify for a Chapter 7 Bankruptcy you must not have filed a previous Chapter 7 Bankruptcy (where you received a discharge) in a case filed in the previous 8 years. You also do not qualify for a Chapter 7 Bankruptcy discharge if you filed a Chapter 13 Bankruptcy within the previous 6 years (and where you received a Chapter 13 discharge).

Read More

Which Minnesota Bankruptcy Law Firm Is The Most Google Reviewed?

Posted by Wesley Scott on December 5

You might ask, why does this matter? Trust me, it matters a lot. People who file bankruptcy don’t tend to broadcast they have filed bankruptcy on social media. Would you? So for anyone who has filed bankruptcy to leave a Google review--- that is a big deal. Most people do not leave Google reviews unless very upset or very happy. You don’t see a lot of people feeling luke warm about a business willing to leave that business a review, right? I mean when is the last time you left a gas station a review, like great gas guys!? You just don’t right? Now, if the clerk at the gas station swore at you and threw a loaf of bread at you, you might write a nasty bad review right?

Read More

We Are Getting Closer To The COVID Bankruptcy Avalanche

Posted by Wesley Scott on December 4

COVID 19 is the pin prick that will burst the economy and shatter what we consider to be a “normal” economy for a long time to come. The financial devastation can be seen all around you. Vacant store fronts, vacant factories, and millions of people out of work. We still have not fully dealt with the debt problems we were in in the last financial crisis of 2008. The, the Federal Reserve just stoked the fire by pumping trillions of dollars into the economy resulting in an enormous amount of debt lingering from the last financial storm. And now, well now the financial devastation caused by COVID 19 is creating even more debt problems with a Fed that is really out of most of its ammunition to help in any meaningful way.

Read More

Looking To File Chapter 7 Bankruptcy in St Cloud? Watch For This...

Posted by Wesley Scott on December 3

Several years ago I met with a couple who had previously met with a lawyer about bankruptcy. They told me they had to meet him in a shed like building and it was totally weird. And then things got even weirder. It turns out the lawyer, in the middle of a consultation, actually fell asleep. Not wanting to disturb the sleeping lawyer, the couple quietly got up and walked out. Sometime later, the lawyer actually called this coupled and asked, “well, are you going to hire me to do your bankruptcy?”

Read More

How To Choose An Awesome Bankruptcy Lawyer in St Cloud, MN

Posted by Wesley Scott on December 2

First of all, congratulations on having the courage necessary to face debt head on. Each day, thousands of Minnesotans suffer needlessly with debt. Second, once you have decided to solve the debt crisis for good, next you have to pick St. Cloud, Minnesota’s best bankruptcy law firm. How do you make sure you have the best bankruptcy attorney in St. Cloud, Minnesota? You do research!

Read More

Paying Taxes In A Chapter 13 Bankruptcy

Posted by Wesley Scott on December 1

In a chapter 13 case with priority tax claims, the debtor must pay these claims in full if the chapter 13 plan is to be confirmed. When the priority tax claim arises under § 507(a)(8)(C), such tax claims are an exception to the discharge under the general rule of § 1328.

Read More

Chapter 13 Voidable Preferences To Creditors

Posted by Wesley Scott on November 30

Preferential transfers to creditors may be avoided under Section 547(b) of the Bankruptcy Code, if the transfer was made on or within 90 days before the date of the filing of the petition. In a Chapter 7 case, the appointed trustee steps into the debtor’s shoes, taking control of the debtor’s assets and seeing that every effort is made to enhance the estate for full distribution to the creditors. The Chapter 7 trustee increases the assets of the estate by avoiding a preferential transfer.

Read More

St Cloud, Minnesota's Residents Turn To Kain & Scott For Bankruptcy

Posted by Wesley Scott on November 28

If you live within a 50 miles radius of St. Cloud, Minnesota, do like most people do, and turn to Kain & Scott if you are contemplating bankruptcy. Since 1972, area residents have trusted Kain & Scott to deliver the most kind, helpful, professional, and exceptional customer service to our residents suffering from overwhelming debt. Each year, hundreds of area residents use Kain & Scott to get their lives back---you can too.

Read More

The Single Best Way To Determine If You Should File Bankruptcy

Posted by Wesley Scott on November 27

I know of a single way to determine if you should file bankruptcy. At Kain & Scott we have been around since 1972. We have seen all the reasons for people to file bankruptcy. Every single one of these people are good Minnesotans who simply fell on hard times. Over and over we see the same themes which propel good people into bankruptcy.

Read More

Who Is Minnesota's Nicest Bankruptcy Law Firm?

Posted by Wesley Scott on November 26

Kain & Scott is Minnesota’s nicest bankruptcy law firm guaranteed or 100% off your fees™*. What does this mean? You can find our complete guarantee on our website at www.kainscott.com. Basically, if you don’t think Kain & Scott is Minnesota’s nicest bankruptcy law firm (most kind and helpful) and you tell us within 30 days of filing the bankruptcy case, and we cannot rectify the problem to your complete satisfaction, we will not only refund 100% of the attorney fees you paid us thus far, but we will also pay for you to have another bankruptcy lawyer complete your bankruptcy for you. Now is that confidence or what? You don’t guarantee your service will be the most kind and helpful unless it really is the most kind and helpful.

Read More

Business Turmoil, COVID 19 and Bankruptcy

Posted by Wesley Scott on November 25

If you are a business owner COVID 19 presents challenges regardless of which kind of business you own. But for some businesses, COVID 19 is altogether disastrous. Take the restaurant industry as one example. In Minnesota, restaurants were closed for a certain period of time. While the PPP loan stimulus kept many afloat short term, those funds are now long gone. The trouble is the business has not come back though and the funds are gone. Sure restaurants in Minnesota are allowed to be open under strict guidelines, but when you have a wary public of any kind public gatherings, the number of people actually go to restaurants to eat in side is far less.

Read More

COVID 19 Will Cause A Massive Bankruptcy Wave

Posted by Wesley Scott on November 24

There is no question about the financial devastation that is befalling American businesses all across the country due to Covid 19. Oh sure some businesses will actually do well due to Covid 19, but many businesses will stumble and fail from Covid 19. All you have to do is take a look at any businesses that has the public visit it in any way to see the carnage. Movie theatres, restaurants, concert venues, sporting arenas, airlines, and many more are literally sustaining drops in business as high as 80%. Even in the best of times most of these businesses will struggle to produce a profit. Now imagine your business revenue falling 20% in revenue much less 80%?

Read More

The Solution To Overwhelming Debt Is Bankruptcy

Posted by Wesley Scott on November 23

Don’t listen to the supposed “gurus” who tell you to avoid bankruptcy. Some of these supposed “gurus” filed bankruptcy themselves. And now, they tell you not to file bankruptcy. I sometimes wonder who is paying these people to say this. Is it big corporations or credit card companies? If bankruptcy was good for the guru why is it not good for you too? One even has to be careful with “debt consolidation” companies who are owned in whole or in part by big finance companies.

Read More

What Do Minnesotan's Say After They've Filed Bankruptcy?

Posted by Wesley Scott on November 22

If I were a Minnesotan looking to file bankruptcy one of the things I would love to know is what do people think, who have already filed bankruptcy in Minnesota, after they filed the bankruptcy? Do these people regret the decision they made to file bankruptcy? Are they thankful they made the difficult decision to file bankruptcy? Would they file bankruptcy again knowing what they know now? These are all wonderful questions I would want to know before I stuck my toes in the bankruptcy waters. Thankfully, there is no need to wonder about these questions. You see, our former guests know exactly how you feel right now. The nerves, the apprehension, and the scared out of your mind feelings you have. Our former guests all felt the same way. But what our guests found is once they filed the bankruptcy and got their lives back, they never regretted the decision to file.

Read More

Have You Heard The Recent News About Chapter 13 Bankruptcy?

Posted by Wesley Scott on November 21

COVID 19 has changed a lot of things for a lot of people. If you have a Chapter 13 Bankruptcy plan that was confirmed prior to March 27, 2020, you may have the ability to extend your plan. Under the CARES ACT, Congress extended the maximum Chapter 13 plan to 84 months from 60 months. But this only applies to those people who already have Chapter 13 plans confirmed as of March 27, 2020. Also, there is a sunset provision in the Act. You must have a plan confirmed by March 27, 2021 to qualify for the extension.

Read More

Filing Bankruptcy Sucks, Your Lawyer Should Not - 2

Posted by Wesley Scott on November 20

At Kain & Scott we authored the book on bankruptcy and attorneys, “Filing Bankruptcy Sucks, Your Lawyer Should Not”. Isn’t this a great title for a bankruptcy book? I love it! It speaks to exactly how one feels about bankruptcy and lawyers who help you through it. Just the thought of filing bankruptcy for some can send them into a full blown panic attack. I get this. The thought of filing bankruptcy can be daunting and very scary. At Kain & Scott, we honor the courage it takes for you to file bankruptcy. We honor that courage by having the most helpful and kind bankruptcy team of staff and lawyers in the state of Minnesota, period!

Read More

Want To Help The Economy? File Bankruptcy Now

Posted by Wesley Scott on November 19

I can only imagine the thoughts coming across your mind as you read this title. One of the policy considerations behind bankruptcy is the idea that bankruptcy is good for the economy. What? How can this be true? Let me ask you a simple question; do people who are suffering from enormous debt purchase things? No, they do not. They don’t purchase things because they cannot afford to purchase anything because most of their net income goes to service their debts.

Read More

Minnesotan's Who File Bankruptcy Trust Kain & Scott

Posted by Wesley Scott on November 18

Minnesotans who file bankruptcy trust Kain & Scott. As Minnesota’s oldest, largest, and most Google reviewed bankruptcy law firm, our Google reviews speak for themselves. These reviews come from the heart of our clients, former clients, and people who know and love us. I am always humbled to read reviews left by people. They put such thought into their reviews and you can tell the reviews are left with much heart and meaning. You see, at Kain & Scott, we honor the courage it takes for our guests to reach out to us for help.

Read More

Looking Into Student Loan Discharge Options - Part 2

Posted by Wesley Scott on November 17

As stated in the previous blog, Congress has covered their donors by making student loans non-dischargeable in bankruptcy unless the student/debtor can prove undue hardship. Congress has placed the burden of proving undue hardship squarely on the backs of students/debtors and not big banks which is where the burden should be. After all, the big banks and schools profit immensely off students investing loans into educations, no degrees, and worthless degrees, knowing or should knowing these students had no business a) in college to begin with, b) where in the wrong program for them because there was no testing done to begin with to see what the student’s gifts and aptitude is, and c) these students/debtors were investing far more money into these classes than they could ever recoup in a job they were likely to get.

Read More

Kain & Scott Is Looking Into Student Loan Discharge Options

Posted by Wesley Scott on November 16

Student loans are an abomination. What we have done to our children is reckless and wanton destruction of their future. Yes, America has abolished slavery, but when you look at some of these people saddled with overwhelming student loan debt, and many with no accompanying degrees of any kind, it is little wonder the economy is sluggish. With all these Americans saddled with overwhelming student loan debt who has surplus money to spend on anything else?

Read More

Kain & Scott's Free 90 Dy Credit Repair Program After Bankruptcy

Posted by Wesley Scott on November 11

Getting rid of debt in bankruptcy is a huge step toward getting your life back. But the second step is important too. Repairing your credit is an important step to getting your life back. For example, a lot of people find out after they file bankruptcy that bankruptcy itself doesn’t clear the public records of judgments entered against you pre-bankruptcy filing. People also find out their credit reports are wrong and need helping fixing them. We had a lot of people calling us and asking us who we recommend for auto and home financing and also can you give me some nuggets to rebuild our credit?

Read More

Why Do I Have To Pay Bankruptcy Trustee In Chapter 7 Bankruptcy?

Posted by Wesley Scott on November 10

Some people are confused as to why they have to pay a trustee when they file a Chapter 7 bankruptcy. I get the confusion. Often, it can feel a little bit like being picked on when you are down and out. It is not meant to be that way though. You see, when you file bankruptcy, you must disclose the existence of all your assets. Upon filing the Chapter 7 Bankruptcy you technically do not own your assets anymore, a bankruptcy estate does.

Read More

The One Thing You Will Do Immediately After Filing Bankruptcy

Posted by Wesley Scott on November 9

 Jump for joy! Yes, this is exactly what you will do immediately after filing bankruptcy. I realize you have better things to do than file bankruptcy. Many things come to mind really. A walk in the park, playing with your children, playing the banjo, any number of things. But, if you have anxiety like I do, there is no better feeling than solving a problem that has plagued you for good. And such as it is with crippling debt. Crippling debt destroys your physical, mental, and financial life. It sucks the life out of you. And to have something that destructive out of your life for good is joyous!

Read More

What On Earth Is A Motion For Relief From The Automatic Stay in Bankruptcy?

Posted by Wesley Scott on November 8

What on earth is a motion for relief from the automatic stay in bankruptcy? In bankruptcy, like any other legal field there is legal jargon that is often hard to recognize unless you spend your days in the trenches like we bankruptcy lawyers do. When a petition for bankruptcy is filed with the bankruptcy court, debtor automatically invokes a court ordered injunction against all her/his creditors barring the creditor from doing all sorts of things to debtor to try and collect on a pre-petition debt. This court order is called the automatic stay. It is a powerful weapon against creditors who are abusive and threatening. The automatic stay legally prevents creditors from collecting from debtors. It is a time out if you will.

Read More

What About Borrowed Assets in Bankruptcy

Posted by Wesley Scott on October 30

A lot of people get by, by borrowing items that they either do not want to purchase or they cannot purchase. 

Read More

Minnesotans Who File Bankruptcy Trust Kain & Scott

Posted by Wesley Scott on October 21

Minnesotans who file bankruptcy trust Kain & Scott. As Minnesota’s oldest, largest, and most Google reviewed bankruptcy law firm, our Google reviews speak for themselves. These reviews come from the heart of our clients, former clients, and people who know and love us. I am always humbled to read reviews left by people. They put such thought into their reviews and you can tell the reviews are left with much heart and meaning. You see, at Kain & Scott, we honor the courage it takes for our guests to reach out to us for help.

Read More

Business Turmoil, Covid-19, and Bankruptcy

Posted by Wesley Scott on October 20

If you are a business owner COVID 19 presents challenges regardless of which kind of business you own. But for some businesses, COVID 19 is altogether disastrous. Take the restaurant industry as one example. In Minnesota, restaurants were closed for a certain period of time. While the PPP loan stimulus kept many afloat short term, those funds are now long gone. The trouble is the business has not come back though and the funds are gone. Sure restaurants in Minnesota are allowed to be open under strict guidelines, but when you have a wary public of any kind public gatherings, the number of people actually go to restaurants to eat in side is far less.

Read More

Want to Help the Economy? File Bankruptcy Now

Posted by Wesley Scott on October 20

I can only imagine the thoughts coming across your mind as you read this title. One of the policy considerations behind bankruptcy is the idea that bankruptcy is good for the economy. What? How can this be true? Let me ask you a simple question; do people who are suffering from enormous debt purchase things? No, they do not. They don’t purchase things because they cannot afford to purchase anything because most of their net income goes to service their debts.

Read More

Who is Minnesota's Nicest Bankruptcy Law Firm?

Posted by Wesley Scott on October 19

Kain & Scott is Minnesota’s nicest bankruptcy law firm guaranteed or 100% off your fees™*. What does this mean? You can find our complete guarantee on our website at www.kainscott.com. Basically, if you don’t think Kain & Scott is Minnesota’s nicest bankruptcy law firm (most kind and helpful) and you tell us within 30 days of filing the bankruptcy case, and we cannot rectify the problem to your complete satisfaction, we will not only refund 100% of the attorney fees you paid us thus far, but we will also pay for you to have another bankruptcy lawyer complete your bankruptcy for you. Now is that confidence or what? You don’t guarantee your service will be the most kind and helpful unless it really is the most kind and helpful.

Read More

Covid-19 Will Cause a Massive Bankruptcy Wave

Posted by Wesley Scott on October 18

There is no question about the financial devastation that is befalling American businesses all across the country due to Covid 19. Oh sure some businesses will actually do well due to Covid 19, but many businesses will stumble and fail from Covid 19. All you have to do is take a look at any businesses that has the public visit it in any way to see the carnage. Movie theatres, restaurants, concert venues, sporting arenas, airlines, and many more are literally sustaining drops in business as high as 80%. Even in the best of times most of these businesses will struggle to produce a profit. Now imagine your business revenue falling 20% in revenue much less 80%?

Read More

The Solution to Overwhelming Debt in Bankruptcy

Posted by Wesley Scott on October 17

Don’t listen to the supposed “gurus” who tell you to avoid bankruptcy. Some of these supposed “gurus” filed bankruptcy themselves. And now, they tell you not to file bankruptcy. I sometimes wonder who is paying these people to say this. Is it big corporations or credit card companies? If bankruptcy was good for the guru why is it not good for you too? One even has to be careful with “debt consolidation” companies who are owned in whole or in part by big finance companies.

Read More

After Minnesotans File Bankruptcy

Posted by Wesley Scott on October 17

If I were a Minnesotan looking to file bankruptcy one of the things I would love to know is what do people think, who have already filed bankruptcy in Minnesota, after they filed the bankruptcy? Do these people regret the decision they made to file bankruptcy? Are they thankful they made the difficult decision to file bankruptcy? Would they file bankruptcy again knowing what they know now? These are all wonderful questions I would want to know before I stuck my toes in the bankruptcy waters. Thankfully, there is no need to wonder about these questions. You see, our former guests know exactly how you feel right now. The nerves, the apprehension, and the scared out of your mind feelings you have. Our former guests all felt the same way. But what our guests found is once they filed the bankruptcy and got their lives back, they never regretted the decision to file.

Read More

Have You Heard The Recent News About Chapter 13 Bankruptcy

Posted by Wesley Scott on October 16

COVID 19 has changed a lot of things for a lot of people. If you have a Chapter 13 Bankruptcy plan that was confirmed prior to March 27, 2020, you may have the ability to extend your plan. Under the CARES ACT, Congress extended the maximum Chapter 13 plan to 84 months from 60 months. But this only applies to those people who already have Chapter 13 plans confirmed as of March 27, 2020. Also, there is a sunset provision in the Act. You must have a plan confirmed by March 27, 2021 to qualify for the extension. 

Read More

Filing Bankruptcy Sucks, Your Lawyer Should Not - 1

Posted by Wesley Scott on October 16

At Kain & Scott we authored the book on bankruptcy and attorneys, “Filing Bankruptcy Sucks, Your Lawyer Should Not”. Isn’t this a great title for a bankruptcy book? I love it! It speaks to exactly how one feels about bankruptcy and lawyers who help you through it. Just the thought of filing bankruptcy for some can send them into a full blown panic attack. I get this. The thought of filing bankruptcy can be daunting and very scary. At Kain & Scott, we honor the courage it takes for you to file bankruptcy. We honor that courage by having the most helpful and kind bankruptcy team of staff and lawyers in the state of Minnesota, period! 

Read More

The Single Best Way to Determine if you Should File Bankruptcy

Posted by Wesley Scott on October 15

I know of a single way to determine if you should file bankruptcy. At Kain & Scott we have been around since 1972. We have seen all the reasons for people to file bankruptcy. Every single one of these people are good Minnesotans who simply fell on hard times. Over and over we see the same themes which propel good people into bankruptcy. 

Read More

The One Benefit of Bankruptcy So Many People Miss

Posted by Wesley Scott on October 14

There is a benefit to filing bankruptcy that so many people miss. And after they file the bankruptcy and get a discharge they are surprised to learn of this benefit. You see, so many people mistakenly believe that bankruptcy ruins your credit, and maybe forever. The truth is, just the opposite occurs. People are always surprised to learn that they are able to get credit after bankruptcy. I speak to numerous people who a year after bankruptcy are buying homes, cars, and get credit cards and other lines of credit. They should not be surprised by this at all. You see future lenders don’t care if you fail to pay your creditors, what they really care about is are you going to pay us back if we lend you money?

Read More

Minnesota's Go-To Bankruptcy Law firm

Posted by Wesley Scott on October 13

Many of your neighbors and friends have turned to Kain & Scott for help in resolving a debt problem in Minnesota. They trusted us to take care of them in their time of despair. When we crushed their debt burden and treated them well they left us glowing reviews. We do not take these reviews for granted at all. We cherish them all and are reverent to them all. You see, at Kain & Scott we are here to serve humans in their time of need and despair and convert them into feeling the most hope they have felt in years. It is a beautiful thing to take someone from a place of despair to sheer joy and hope again.

Read More

Legal Lingo in Bankruptcy

Posted by Wesley Scott on October 12

You may hear your attorney throw out quite a few terms in your bankruptcy case. What do they all mean?

Read More

Legal Lingo in Bankruptcy Part 2

Posted by Wesley Scott on October 11

In Legal Lingo in Bankruptcy, we discussed common terms you may hear in a bankruptcy. 

Read More

Filing Bankruptcy In Minnesota

Posted by Wesley Scott on October 11

Be careful of any out of state companies who are trying to solicit you into filing bankruptcy through them, sort of. I say through them sort of because they really don’t handle your bankruptcy case. Instead, some of these companies or purported law firms refer your case back to a Minnesota licensed attorney. How the fees you pay are split between the out of state company and this Minnesota based lawyer is not clear. What is clear is that there is a fee split between the two entities. You don’t need an out of state company to refer you to a qualified Minnesota bankruptcy lawyer. In fact, some of these lawyers are definitely not the most qualified bankruptcy lawyers in Minnesota. 

Read More

Debt Gone In Bankruptcy + Credit Repaired With Kain & Scott = Life Back

Posted by Wesley Scott on October 10

In Minnesota, our clients want their lives back. They want the suffering from overwhelming debt to end and they want a new beginning. In my opinion, you don’t have your life back until 1) your debt is gone in bankruptcy and 2) your credit is repaired using Kain & Scott’s FREE 90 day credit repair program. Now, we can eliminate your debt in either a Chapter 7 or Chapter 13 Bankruptcy. Both bankruptcies have their pros and cons. Every person’s case is different and no two cases are the same. Sometimes people profile like one or the other except for that one fact that makes them the opposite case you would think. For example, suppose a person profiles like a Chapter 7 Bankruptcy except they are 5k behind on the house loan and they desperately want to keep the house? With that additional fact, they might be best suited to a Chapter 13 Bankruptcy where we can cure mortgage arrears over time and keep their home.  

Read More

Can I Be Discriminated Against Because I filed Bankruptcy?

Posted by Wesley Scott on October 9

Section 525 of the Bankruptcy Code does stipulate protections against discriminatory treatment for bankruptcy filers. The code provides that a, “governmental unit may not deny, revoke, suspend, or refuse to renew a license, permit, charter, franchise deny employment to, terminate employment of…” a bankruptcy debtor. 11 U.S.C. § 525. Additionally, no private employer may terminate employment or discriminate against a debtor solely because the debtor filed bankruptcy.

Read More

What Should You Do if You Receive A Motion for Relief

Posted by Wesley Scott on October 8

Creditors file a motion for relief, when they want relief from the automatic stay. Typically this is done if the creditor wants to take collection steps against the bankruptcy filer. For example, this could be proceeding with foreclosure, repossession, or other forms of collection.  

Read More

What Are Non-Exempt  Assets

Posted by Wesley Scott on October 7

One of the biggest concerns when our clients file a bankruptcy is regarding what will happen to their home. The amount of equity a client has in their home, determines how we will proceed with protecting their assets using the bankruptcy code. If a single debtor has more than $25,000 of equity in their home, we will use Minnesota exemptions to protect it. Minnesota exemptions can protect upwards of $400,000 of equity in a home—and that exemption is referred to as the homestead exemption. With the protection in place, our clients need to be aware of exempt assets and non-exempt assets. What does that mean? Assets refer to the items you own, exempt means they are afforded protection and non-exempt means they do not fit under a protected category according to Minnesota bankruptcy law.

Read More

Mortgage Vocabulary Through the Bankruptcy Lens

Posted by Wesley Scott on October 6

A mortgage and the intervening terminology involved can be difficult to understand. We wanted to highlight a few terms that tend to pop up when people are considering bankruptcy or are already in an active bankruptcy. Learn all you can about your mortgage lender and develop a mutual relationship so that if unforeseen circumstances do arise, they will graciously assist you.

Read More

What is a Bankruptcy Estate?

Posted by Wesley Scott on October 5

What is a bankruptcy estate?

Read More

Why Would A Law Firm Send Me Solicitations to File Bankruptcy?

Posted by Wesley Scott on October 4

I find this a distasteful thing for lawyers to do. When you are down and out lawyers are sending you solicitations to file bankruptcy; and with them? I do not like this approach at all. I think it is super invasive in terms of privacy and very presumptuous on the part of bankruptcy law firms in Minnesota. You will never see a personal solicitation mailed to you from Kain & Scott—period. 

Read More

The Latest About Filing Bankruptcy In Minnesota?

Posted by Wesley Scott on October 3

Filing bankruptcy in Minnesota has never been easier or smooth for a prospective bankruptcy client. During COVID 19, the bankruptcy courts and United States Department of Justice have relaxed a lot of guidelines as to the bankruptcy process. For example, you used to be required to attend what we refer to as a 341 meeting or a first meeting of creditors after you filed bankruptcy. Now, this meeting is conducted either telephonically or by zoom. 

Read More

What Can You Do About A Rude Creditor in Bankruptcy

Posted by Wesley Scott on October 2

Creditors and collection agencies can be a mixed bag. You never know if you will receive someone understanding and nice or someone who is less than understanding about your situation. 

Read More

Creditor Information in Bankruptcy

Posted by Wesley Scott on October 1

When a bankruptcy case is filed, you state that you have listed all of your assets and creditors in the case. 

Read More

Choosing A Minnesota Bankruptcy Law Firm? There is Only One Choice

Posted by Wesley Scott on September 29

 Choosing the right Minnesota bankruptcy law firm is critical. All you have to do is read the Google reviews from different bankruptcy law firms to know there is a huge difference in the firm you choose. I feel bad for people who choose the wrong bankruptcy law firm. I think sometimes we feel like all professionals are the same, right? Trust me when I tell you that is far from the truth.

Read More

Repossessed vehicles

Posted by Wesley Scott on September 28

In Minnesota if you are in default (i.e. are not making your monthly payments) on your car loan, then the bank can take possession of your car even if they don’t have a court order to do so – as long as they don’t “breach the peace”. Minn. Stat. Section 336.9-609. Once the creditor has possession of your vehicle, the creditor can move forward with the sale of the vehicle. 

Read More

Filing for Bankruptcy and Laughing at Yourself

Posted by Wesley Scott on September 26

 For those of us with high anxiety having someone laugh at you can be devastating. Of Course, as you get older, those sort of things become less irritating to you. In fact, as you get older you become perfectly fine with someone laughing at you or you laughing at yourself. But, can filing bankruptcy be a laughing matter? Of course it can be. I tell my children all of the time, if you are going to get pissed off at everything that goes wrong in your life you will be pissed off a lot. 

Read More

The One Thing You Should Never Do Before Filing Bankruptcy

Posted by Wesley Scott on September 25

We all have anxiety. We all worry about things. And in this day and age you can Google your worst fears and people often do. So it is with bankruptcy. Every single bankruptcy case I have ever handled was slightly different than others. No two bankruptcies were exact. So how can you Google your exact situation? You cannot. But that does not stop us from doing it right? We all have. But it is very dangerous to do so.

Read More

Minnesota's Nicest Bankruptcy Law Firm Guaranteed or 100% off your Fees

Posted by Wesley Scott on September 24

When you are down and out. When you are faced with overwhelming debt, you want a Minnesota bankruptcy law firm that understands your fear of filing bankruptcy. We are so confident that Kain & Scott is Minnesota’s nicest bankruptcy law firm we guarantee it! Now—you can see the details of our guarantee on our website. A firm that is willing to guarantee their service is the nicest (most kind and helpful) has confidence in the service you will receive. 

Read More

Best Bankruptcy Law Firm in St. Cloud, Minnesota

Posted by Wesley Scott on September 23

I know, everyone says they are the best right? But don’t take our word for it. Take the word of the hundreds of satisfied clients of Kain & Scott and you too will agree, Kain & Scott is St. Cloud, Minnesota’s best bankruptcy law firm hands down. I admire the clients who are willing to write and leave, on a public forum, Google reviews about bankruptcy. Trust me, you have to overwhelm clients with kindness, helpfulness, professionalism and exceptional customer service before they will agree to leave one. I think that is a good thing. Clients who feel luke warm about your service do not leave Google reviews.

Read More

Receiving Solicitations from a Bankruptcy Lawyer After Getting a Judgment

Posted by Wesley Scott on September 22

Have you ever had the experience of having a creditor get a judgment against you only to have a bankruptcy lawyer send you a letter soliciting you to file bankruptcy? Don’t you think this personal solicitation is a little cheesy? I mean it is bad enough to have a creditor get a judgment against you but then you have lawyers swooping in to profit off your misery? This does not seem ethical or professional at all. At Kain & Scott we never will send you a letter asking that you file bankruptcy with us because a creditor got a judgment against you. 

Read More

Bankruptcy and Term Limits go Together

Posted by Wesley Scott on September 21

 You might be reading this title and thinking, what does bankruptcy and term limits have to do with each other? Whether you identify as a republican, democrat, independent, or any other party have you ever wondered how it is that someone could be in Congress for 30 years? Our government was supposed to be a government by the people, of the people, for the people. In other words, our government was supposed to be a citizenry government. 

Read More

Read Google Reviews Before Hiring a Minnesota Bankruptcy Lawyer

Posted by Wesley Scott on September 20

 If I had one suggestion to someone looking for a bankruptcy lawyer in Minnesota it is this; read a lot of Google reviews before you call to set up an appointment with the bankruptcy law firm. Don’t read just a few Google reviews, and ignore 5 star reviews with no comments, I don’t believe them. Instead, binge read Google reviews on the Minnesota bankruptcy law firm before setting up an appointment. Do you notice anything troubling? Do you see Google reviews that express the same frustration? If so, move on to the next Minnesota bankruptcy law firm.

Read More

You Can Always Tell When Bankruptcy Law Firm Places Profits Over People

Posted by Wesley Scott on September 19

You can always tell when a bankruptcy law firm places profits over people. Their employees are miserable and their clients are unhappy. Don’t believe me? Take a look at a bankruptcy law firm’s Glassdoor reviews and read it for yourself. Sometimes, you need to take these Glassdoor reviews with a grain of salt because, in some cases, there are rumors of employers incentivizing employees to leave rosy Glassdoor reviews. 

Read More

How You Feel Before Filing Bankruptcy is Polar Opposite How You Feel After Filing

Posted by Wesley Scott on September 19

You don’t need to suffer from high anxiety to be emotionally drained from the thought of having to file bankruptcy. For most of us, the thought of bankruptcy is initially devastating. At Kain & Scott, we know exactly how you feel right now. How? All of our former clients felt the same way you do at this very moment. But do you know what our clients found? Once they got on the other side of bankruptcy, they a) never regretted filing the bankruptcy and b) they are happier than they were before they filed the bankruptcy. This is why the way you feel now will not last forever.

Read More

Filing Bankruptcy is Good for Your Health, Dr. Scott Says

Posted by Wesley Scott on September 18

 We attorneys joke all the time with each other about being doctors. I mean, we really are doctors. If you are a lawyer you have a Juris Doctorate degree which mean you are a doctor. So when I am referring to Dr. Scott, I am referring to myself as a licensed attorney. Now let us get on with the subject at hand.

Read More

Who Will Know I filed bankruptcy?

Posted by Wesley Scott on September 17

 A lot of prospective clients want to know, who will know that I filed bankruptcy? This is a good question and one that I would also like probed before I filed bankruptcy. Filing bankruptcy is public information. However, this is not state court it is federal court. You cannot go down to your local courthouse and look up your neighbor’s bankruptcy because it will not be there. Instead, there are federal data bases that hold information on who filed bankruptcy and when. These data bases are password protected and you have to pay or link a credit card to the data base to gain access to it. Who among us is going to go through the trouble of a) finding the data base, b) sign up for an account, and c) link your credit card to the account to gain access to check on whether someone did or did not file bankruptcy?

Read More

Filing Chapter 7 Bankruptcy in Duluth MN

Posted by Wesley Scott on September 16

Duluth, Minnesota is a nostalgic place I have been visiting since I was a child. To see the city nestled on the banks sloping down to Lake Superior and the vast lake with the sounds of the waves and seagulls brings back memories.  Sometimes this tranquil setting can be the background to not too tranquil problems like debt. Having debt is not tranquil it is stressful and really painful. It can consume you with mental and physical stress. 

Read More

Minnesotan's Beware: Many Google Map Listings Are Fraudulent

Posted by Wesley Scott on September 15

Minnesotans looking to file bankruptcy in Minnesota should be aware that many purported Google Map Business Listings are fraudulent. What do I mean by fraudulent? Google Maps are supposed to be accurate and give the consumer accurate information on which merchants are where and when they are open and staffed on Google Maps. The trouble is pernicious businesses dupe Google into believing that the business’s request for a local Google Map Listing is not false but is a real location staffed and open during its stated hours. For example, to obtain a local Google Map Listing for a law firm, the law firm must operate full time at that location (not by appointment only). So if the law firm represents they are open and staffed from 8:00 a.m. to 5:00 p.m. Monday through Friday that is what Google then believes and represents to the public on Google Maps even if it is false. Why would a law firm dupe Google into publishing false advertising? Because it is big business for the law firm.

Read More

Minnesotan's Needing To File Bankruptcy Turn To Kain & Scott

Posted by Wesley Scott on September 14

There is no worse feeling than suffering from overwhelming debt. The weight of the debt burden crushes you like a rock. It is all you think about night and day. The stress of debt permeates everything from your own physical and mental health to your relationships with co-workers and your family. Even your children feel the stress you are under.

Read More

Where Will My Bankruptcy Take Place?

Posted by Wesley Scott on September 12

The question often arises, “where will my bankruptcy case take place?” I find that some are worried about filing in their hometown or attending a hearing in their county courthouse.

Read More

Can You Pay Off a Chapter 13 Bankruptcy Early?

Posted by Wesley Scott on September 11

The filing of a chapter 13 bankruptcy is voluntary. In chapter 13 bankruptcies, debtors make monthly payments to the trustee’s office to pay off a portion of their debts. The length of the payment plan can range from 36 months to 60 months.

Read More

What Really Happens To My Credit After Chapter 7 Bankruptcy?

Posted by Wesley Scott on September 10

Out of all the questions we bankruptcy lawyers get, this is probably the #1 question asked most frequently. If you have high anxiety, like me, filing bankruptcy can conjure up some pretty bizarre images in your mind. I remember thinking before I was a bankruptcy lawyer that once you file bankruptcy the bankruptcy people would probably follow you in the grocery store and ask why are you buying steak? Ridiculous right? But it is not so ridiculous for those of us with high anxiety. These kind of crazy images come to our mind right off the bat.

Read More

What Is A Chapter 7 Bankruptcy And How Scary Is It Really?

Posted by Wesley Scott on August 31

      A Chapter 7 Bankruptcy is like smacking a re-set button on your life with debt. You hit the reset button and poof the debt is gone and your stress goes away. Tens of thousands of Americans each year smack that reset button and move on with their lives, you can too. The only regret you will have is not filing Chapter 7 Bankruptcy sooner. I am not joking.

Read More

Preference Payments And Why They Are Important

Posted by Wesley Scott on August 30

A “preference payment” is when a debtor treats one or more creditors greater than all of the other creditors. The general idea behind a bankruptcy is that all creditors receive equal treatment, whether in a chapter 7 or chapter 13. Preference payments do not include paying your day-to-day bills and living expenses. The bankruptcy code denotes paying a creditor $600 or more in a 3-month period; however, it is very common that some bills and minimum payments will total $600 or more, such as a mortgage, car payment, credit card minimums, etc. The trustee is looking for disclosure of those payments in your petition and schedules and will likely inquire if you paid above the minimum required payments; getting more than what the regular payment normally is. Disclosure of these payments is required and honesty with your attorney is imperative.

Read More

Common Reasons People Don't Receive Chapter 7 Discharges

Posted by Wesley Scott on August 29

I hate seeing this happen, I really do. If you receive a discharge in Chapter 7 Bankruptcy it is possible to lose the discharge. If you have not received your Chapter 7 discharge yet, it is possible to be denied it. What is the most common reason for losing or being denied a Chapter 7 discharge? Lying on the bankruptcy schedules or lying about your financial affairs under oath.

Read More

What is a Fraudulent Transfer?

Posted by Wesley Scott on August 28

A fraudulent transfer occurs when an individual knowingly transfers property or ownership in property, in an attempt to reduce their assets and the amount of money a creditor can recover. It can also occur when property or assets are sold for less than fair market value. It is aptly termed because in the eyes of the bankruptcy code, transferring your property to someone else with the intent of keeping it from your creditors, is fraud. Not all transfers require intent to defraud your creditors though.

Read More

How To File Chapter 7 Bankruptcy

Posted by Wesley Scott on August 27

Once I have decided to file Chapter 7 Bankruptcy what on earth do I do? What is the first step I should take? Let me ask you a question—if you needed heart surgery would you call a foot doctor or heaven forbid do it yourself? Of course not. The very first thing you need to do is research local quality bankruptcy law firms. And be very careful of some law firms that claim to have a vast local presence when they do not. Now, when you are researching local MN bankruptcy law firms the one thing you must do is read a lot of Google Reviews. These Google Reviews are like gold whether they are positive or negative reviews.

Read More

Businesses File Bankruptcy All The Time Why Can't You?

Posted by Wesley Scott on August 26

Have you ever thought about this? Businesses file bankruptcy all the time. Some seek Chapter 11 Bankruptcy relief and some file Chapter 7 Bankruptcy relief. When these board members get together to discuss the corporation’s debts and assets they don’t invest a lot of emotional energy into the decision to file bankruptcy or not. Filing bankruptcy is either prudent for the corporation to do or not. It either makes good business sense or not.

Read More

Why Some MN Bankruptcy Law Firms Invest In THeir Spaces

Posted by Wesley Scott on August 25

  I have seen many unprofessional office spaces in my day. I have heard of clients meeting with Minnesota bankruptcy lawyers in many other very unprofessional spaces as well. But to get a feel for what these office spaces were like, I travelled to many of them myself. What did I find?

Read More

Debt Consolidation vs. Bankruptcy

Posted by Wesley Scott on August 19

Debt consolidation is the process of taking out a new loan to pay off other liabilities and consumer debt, essentially extending the repayment terms. It does not erase the original debt, but transfers the consumer’s loans to a different lender or type of loan. Debt consolidation usually maximizes the likelihood of creditors collecting from a debtor. 

Read More

What Does Chapter 13 Bankruptcy Mean

Posted by Wesley Scott on August 18

I like to think of a Chapter 13 Bankruptcy like a government sponsored debt consolidation program. In fact, if this is what a Chapter 13 Bankruptcy were called, far more Americans would turn to Chapter 13 Bankruptcy for relief as opposed to being stuck in an endless debt consolidation program through some company. The advantages of a Chapter 13 far outweigh any debt consolidation program out there.

Read More

What Happens If I File a Chapter 13 and My Income Decreases

Posted by Wesley Scott on August 17

In these unprecedented times, there is so much uncertainty in the world that many individuals with steady, good paying jobs, are hunkering down in survival mode for fear of what might happen next. That is a completely normal and healthy response to have in this situation, but if you need help with your finances, you should not let fear of the unknown stand in your way.

Read More

Why You Should Never Delay Filing for Bankruptcy

Posted by Wesley Scott on August 16

Debt is not just a financial problem. It is a physical and mental problem too. Overwhelming debt places an enormous stress on the mind and body that is not healthy for us. Kain & Scott has been around since 1972, we have seen a few things. And one of the things we have seen is the deterioration of health because of debt. Anxiety and depression are common among those people who suffer with overwhelming debt.

Read More

Some Minnesota Bankruptcy Law Firms Invest Little Money in People and Spaces

Posted by Wesley Scott on August 15

Some Minnesota Bankruptcy law firms invest little money in people and spaces and guess who suffers when they don’t? Yes, you do. You see an unhappy workforce results in unhappy clients. There is no other way around this. If an employer has unhappy employees guess what you are going to be? Unhappy! 

Read More

Chapter 7 Bankruptcy Requirements

Posted by Wesley Scott on August 14

Assuming one meets the jurisdictional requirements to file Chapter 7 Bankruptcy, what are the basic requirements to qualify to file a Chapter 7 Bankruptcy? Good question. I have had people over the years who wanted to file a Chapter 7 Bankruptcy but could not. Why? Section 707(b) lays out the elements associated with what we call the “means test”. Basically, if your income is over the median income for your family size in your state, you must go through a “means test” which is a combination of real numbers and set numbers.

Read More

How to Avoid Unprofessional, Unkind, and Unhelpful Bankruptcy Staff in Minnesota

Posted by Wesley Scott on August 13

A law firm should honor the courage it takes for people to reach out for help in resolving a debt problem. Having a debt problem can be embarrassing for many Minnesotans. And instead of seeing Minnesotan’s courage to reach out honored by law firms I found the opposite was happening and it made me mad.

Read More

Dump Debt And Get Your Life Back

Posted by Wesley Scott on August 11

Sometimes, it is ok to hit the reset button in life and move on from an overwhelming problem.  I have never once had anyone regret the decision to dump debt and move on with their lives. The only regret that petered out eventually was the regret that they had not hit the reset button sooner. One of the biggest advantages of filing bankruptcy is not only the debt gone but it goes away tax free. Think about that for a moment. If you owed me 100k and I said forget about it I am going to write off on my taxes as a loss. Well, since I am going to write it off as a loss it has to be income to you.

Read More

Bankruptcy and the Right to be Heard

Posted by Wesley Scott on August 10

 Everyone has the right to be heard. No bias, no judgment, just quiet resignation to being heard by someone who really cares. At Kain & Scott we listen a lot. This is a painful journey for most of our clients and we would be remiss if we didn’t sit back and listen to our guests as they tell their story of what happened to them and overwhelming debt. 

Read More

What is the Deal with Student Loans

Posted by Wesley Scott on August 9

It seems that almost everyone in this country has one thing in common-student loans.  You receive this extensive training, only to find out there are no jobs available in that field, and the skills are non-transferable.  

Read More

What is Chapter 7 Bankruptcy in English

Posted by Wesley Scott on August 8

Chapter 7 Bankruptcy is a bankruptcy where you do not make payments back to your creditors. Instead, your liability on the debt id “discharged” in bankruptcy. Once discharged in bankruptcy, you are no longer liable on the debt, tax free, forever. So while the creditor will write off the debt as a loss on their tax returns, the debt forgiven is not taxable to you under the IRS Code. The IRS Code basically says whatever debt is forgiven as a result of a Title 11 Bankruptcy, which Chapter 7 Bankruptcy is, is not taxable to you. The tax form you should file with your tax return is IRS Form 983.

Read More

What Debts are Discharged In A Chapter 7 Bankruptcy

Posted by Wesley Scott on August 7

If you file a Chapter 7 Bankruptcy, what debts are discharged? This is an excellent question I was just asked a few days ago. This person had some unemployment overpayments, child support, and student loan debt plus about 65k in credit card debt.

Read More

Can I Keep My House If I File Chapter 7 Bankruptcy In Minnesota

Posted by Wesley Scott on August 6

If you are like me and have high anxiety, having debt would cause you to raise this question. If I file Chapter 7 Bankruptcy in Minnesota, can I keep my home? When you file Chapter 7 Bankruptcy in Minnesota, you are able to keep your home. The reason you are able to keep you home is this; there are state of federal exemptions you can use which allow you to keep your home. If you have a lot of equity in your home, you likely will need to use the Minnesota exemptions. If you don’t have a lot of equity in your home, you will likely use the federal exemptions. Do not worry about which set you should use as a quality Minnesota bankruptcy firm will help you with this.

Read More

Do People Survive Bankruptcy?

Posted by Wesley Scott on August 5

I know this headline seems a little silly. But if you have anxiety, this headline is spot on. Yes, people not only survive bankruptcy, they thrive after bankruptcy. Just a few weeks ago I had a former client call me. He said he was in our neighborhood, driving by one of our buildings, and he was reflecting about his own story. He said he remembers being terrified about the prospect of filing bankruptcy. But, he said, after he filed the bankruptcy and got his life back, he never once has regretted the decision to file.

Read More

Have You Been the Victim of Legal Advice Given to you by a Bankruptcy Paralegal in Minnesota

Posted by Wesley Scott on August 2

 At Kain & Scott, we never have potential or current clients receive legal advice from a paralegal. Any legal advice dispensed is always dispensed to you by a licensed Minnesota bankruptcy lawyer. Trouble is, not everyone thinks that it is illegal and unethical for paralegals to give legal advice to Minnesotans suffering from overwhelming debt. 

Read More

How Long Does a Chapter 13 Bankruptcy Take

Posted by Wesley Scott on August 1

 A Chapter 13 Bankruptcy is a government sponsored debt consolidation plan. It is government sponsored because our legislators enacted Chapter 13 Bankruptcy into law under Title 11 of the U.S. Code. 

Read More

How to Qualify for a Chapter 7 Bankruptcy

Posted by Wesley Scott on July 31

The Bankruptcy Code lays out the parameters for who can file a Chapter 7 Bankruptcy. Many of these requirements can be found in Section 109 of the Bankruptcy Code, “Who may be a debtor”. As to who qualifies for a Chapter 7 discharge one needs to look at Section 707 and Section 727 of the Bankruptcy Code. When you put these provisions all together you get a better picture of who can file a Chapter 7 Bankruptcy and who can receive a Chapter 7 Bankruptcy discharge. These two things are quite different.

Read More

When Should I File Chapter 7 Bankruptcy

Posted by Wesley Scott on July 30

When you first realize the boulder coming down the hill is going to run you over. I cannot tell you how many times I have heard clients say, “I just wished I had not waited so long to file.” Personally, I think human beings are far too rough on themselves. We wait far too long before we reach out for help. I think our pride and our vanity gets in the way of taking medicine we often need to take to cure the illness faster. After all, when your finances are sick, isn’t that what you are supposed to do? Find the medicine to cure the ailment and take it? That way, you can move on faster with your life.

Read More

Is There Such Thing as a Covid Bankruptcy?

Posted by Wesley Scott on July 29

The other day, I had a caller ask me is there such a thing as a COVID 19 bankruptcy? I said that is interesting question and the answer is yes and no. No, there is no specific bankruptcy called COVID 19 bankruptcy but yes there are plenty of bankruptcies that are the direct result of COVID 19. It is the same thing as when someone asked about whether there is a bankruptcy dedicated to just medical bills, you know, like a medical bankruptcy. The answer is the same. No, there is no such thing as a medical bankruptcy but medical bills cause a lot of bankruptcies.

Read More

Keeping the House in a Chapter 7 Bankruptcy

Posted by Wesley Scott on July 28

Bankruptcy requires extensive financial disclosure. All debts are listed in your bankruptcy and as well as all of your assets. Even the debts on secured property and the non-dischargeable debts are listed in your bankruptcy. 

Read More

How Much Does Chapter 7 Bankruptcy Cost

Posted by Wesley Scott on July 27

It is natural to want to know how much a Chapter 7 Bankruptcy costs. What are the attorney’s fees and court costs? It can feel a little bit like getting smacked when you are already down. But let’s walk through a typical scenario. Let’s assume you have 50k in unsecured debt that is causing you an enormous headache. You decide to file Chapter 7 Bankruptcy and get your life back which is a smart move. Let’s assume further that your payments on the 50k in debt was $2400.00 per month. Finally, let’s assume you have 3 judgments that have already been entered against you.

Read More

How Often Can You File a Bankruptcy

Posted by Wesley Scott on July 24

There are limits on how often you can receive a discharge in a bankruptcy.  The discharge is where the debtor is released from the liability on their unsecured debts.  

Read More

How Does a Chapter 13 Bankruptcy Work

Posted by Wesley Scott on July 23

This is an excellent question. There are misconceptions out there about what a Chapter 13 Bankruptcy is and how it works. Many people mistakenly think that when you file a Chapter 13 Bankruptcy, and make payments back to your creditors, you are paying all your debt in full. In the vast majority of cases this is not true.

Read More

What Is A Chapter 13 Bankruptcy

Posted by Wesley Scott on July 22

 A Chapter 13 Bankruptcy is a government sponsored debt consolidation program. It is government sponsored debt consolidation program because it is contained under Title 11 of the United States Bankruptcy Code. Built into federal law is a government sponsored debt consolidation program that can be used by many Americans as a tool to get a handle on their debt problem.

Read More

What is the Difference Between a Chapter 7 and Chapter 13 Bankruptcy?

Posted by Wesley Scott on July 21

 Chapter 7 and Chapter 13 Bankruptcy are like different sides of a coin. They are as different as night and day. When most people think about bankruptcy they think about Chapter 7 Bankruptcy. And a lot of people are confused about what a Chapter 13 Bankruptcy is, and is not.

Read More

What is a Chapter 7 Bankruptcy

Posted by Wesley Scott on July 20

A Chapter 7 Bankruptcy is a bankruptcy where you do not make payments back to your creditors. Your liability for your debt goes away and you don’t make any payments back to your creditors. You say, well what’s the catch because this sounds too good to be true? There really isn’t a catch but the focus in a Chapter 7 Bankruptcy is on your assets. If your assets are all “exempt” that means they cannot be taken by a Chapter 7 trustee and used to satisfy your debts. At the end of a 4 month process, whatever debts don’t get paid off, get wiped out, tax free. The vast majority of Chapter 7 Bankruptcies work just like stated.

Read More

What is a Chapter 7 Bankruptcy In St Cloud, MN

Posted by Wesley Scott on July 19

A Chapter 7 Bankruptcy is a bankruptcy where your liability on your debts goes away and you do not make payments back to your creditors. Instead, the focus is on your assets not your income. With assets, the question is, are all your assets protected or are some of them not protected and you will lose. Most people who file bankruptcy in St. Cloud, Minnesota have no assets to lose. In other words, all the assets they own they get to keep.

Read More

How Long Does A Chapter 7 Bankruptcy Take?

Posted by Wesley Scott on July 17

Once you made the decision to file Chapter 7 Bankruptcy, you want to know how long does this process of filing Chapter 7 Bankruptcy take. The answer is approximately 4 months from the time you file the Chapter 7 Bankruptcy until the time you receive your Chapter 7 Bankruptcy discharge. But that is the 2000 foot view of the overall process.

Read More

How To File Chapter 7 Bankruptcy in Minnesota

Posted by Wesley Scott on July 16

You have decided that it is time to end the nightmare staring at you in the form of debt. You summoned the courage and now you want to plow forward. What do you do now? How do you actually file a Chapter 7 Bankruptcy? This is a great question and one has to use a lot of caution here.

Read More

What Is Chapter 7 Bankruptcy

Posted by Wesley Scott on July 15

A Chapter 7 Bankruptcy has often been referred to as a “fresh start” bankruptcy or like hitting a “reset” button. The reason for this is in Chapter 7 bankruptcy you do not make payments back to your creditors. Instead, your liability on those debts gets “discharged” and the creditor can no longer collect on those debts, forever.

Read More

How long should it take to file a bankruptcy?

Posted by Wesley Scott on July 14

At Kain & Scott, we pride ourselves on being able to file a bankruptcy case as quick as any other firm in the country, but the reality is that for many situations, you do not have to rush to file for bankruptcy relief. The decision of “when should you file bankruptcy” can be as important as the question “should I file for bankruptcy” in the first place. This is why it helps to go over your most-important concerns the first time you speak with an attorney to set a timeline.

Read More

How do I know if I can file bankruptcy on certain debts and judgments?

Posted by Wesley Scott on July 13

This question is very simple, yet infinitely complicated, and where the law is grey a bankruptcy judge or jury will decide if any of your debts will survive a bankruptcy filing. It is 11 U.S.C. § 523 (see https://kainscott.com/us-bankruptcy-code/chapter-v/ss-ii/code-523) which states which debts will be excepted from discharge, but unfortunately there is a lot of misinformation out there on the internet about what debts you may get rid of (ie discharge) in a bankruptcy filing. The term is called “excepted” because the default rule is everything gets discharged unless there is an exception.

Read More

Will my employer find out about my bankruptcy filing?

Posted by Wesley Scott on July 10

Filing bankruptcy creates a public record of your request for relief, but it does not mean the general public can search and look-up all the information in your bankruptcy filing. In order to look up the information in a bankruptcy, you need an account in the government’s PACER system, and you are charged for searching through this database. So, while technically most of the information in the bankruptcy filing is public, your coworkers and employer often do not have to know about the bankruptcy filing.

Read More

What is a “secured” debt?

Posted by Wesley Scott on July 9

Secured debt can sound like a foreign term for a lot of people, but it is in fact quite a simple concept. A secured debt simply means your loan or line of credit is attached to some form of property or asset. Secured debts are commonly used for your home (ie mortgage or home equity line of credit), car and equipment loans, or there are even secured credit cards, where the line of credit is attached to funds already deposited.

Read More

Duties involved with filing bankruptcy

Posted by Wesley Scott on July 8

What exactly does filing a bankruptcy involve? Well that largely depends on if you choose to have an experienced bankruptcy lawyer do the work for you or not. What the law requires is stated in 11 U.S.C. § 521. (See https://kainscott.com/us-bankruptcy-code/chapter-v/ss-ii/code-521). These are strict requirements which can result in you being denied a discharge in your bankruptcy, and your debt not being eliminated if you do not comply with the requirements.

Read More

Assets In Bankruptcy

Posted by Wesley Scott on July 7

When a bankruptcy case is filed you are saying to the Court, I have listed everything I own or have an interest in.

Read More

Pros And Cons Of Filing Bankruptcy

Posted by Wesley Scott on July 6

I  like to create lists when I am thinking about the positives and negatives of doing something. It could be buying a vehicle or hiring a professional etc. If you are contemplating filing bankruptcy, I would want to know what are the pros and cons of filing bankruptcy.

Read More

The MN Bankruptcy Law Firm That Honors Your Courage

Posted by Wesley Scott on July 2

At Kain & Scott, we know how much courage it takes to reach out to us for help. We know because all of our former clients felt the same way you do now. And yet, what our clients found is that life on the other side of debt is beautiful. Just yesterday, I had a former client of mine call me and thank me. It was touching to hear his story. He told me I was his attorney 4 years ago in a Chapter 7 Bankruptcy. He said he was driving by our office and wanted to call me and thank me again for helping him and his wife get their lives back. He said he and his wife bought a house, bought new vehicles, and their credit scores are great! He said filing bankruptcy was the best thing he ever did and he was so thankful for help in the process.

Read More

What you need to know about 401(k)s in Bankruptcy

Posted by Wesley Scott on July 1

In my last post, I wrote about issues involving IRAs in bankruptcy cases.  IRAs are a common retirement savings product and Congress and the Bankruptcy Courts have been consistent in giving retirement accounts protection from creditors in bankruptcy cases.

Read More

Chapter 7 Bankruptcy: Process And Fees

Posted by Wesley Scott on June 30

 Chapter 7 Bankruptcy: What is a Chapter 7 Bankruptcy? A Chapter 7 Bankruptcy is frequently referred to as a “fresh start” bankruptcy. The focus in a Chapter 7 Bankruptcy is on your assets. The vast majority of Minnesotans do not lose any assets in Chapter 7 Bankruptcy. Most assets are what we call “exempt” and are not lost to a Chapter 7 trustee. Some assets can be “non-exempt” and those assets get turned over to the estate and liquidated and the proceeds used to pay down your debt. Whatever debt that doesn’t get paid off gets wiped out, tax free, forever. These debts are typically in the nature of credit card debt, unsecured loans, personal guarantees, trade payables etc.

Read More

Everything you need to file bankruptcy in St Cloud, mN

Posted by Wesley Scott on June 29

I recently read one of our Google reviews. It was a review that was describing how thankful our client was that we do all the work. He was also thankful for us doing things behind the scenes he was not aware needed to be done--- because we do them without saying anything to the client.

Read More

Home Mortgages in Bankruptcy

Posted by Wesley Scott on June 28

Perhaps the most common and important question I get from people: “is my home protected in a bankruptcy or do I have to give it up?” The short answer to the question is a qualified YES.

Read More

Chapter 13 Bankruptcy VS Chapter 7 Bankruptcy

Posted by Wesley Scott on June 26

Which is better, a Chapter 13 Bankruptcy or a Chapter 7 Bankruptcy? Honestly, the answer is it depends! Sometimes, you don’t have much of a choice in the matter. As a general rule, if you have the ability to pay back some of your debt you are expected to do so. That means a Chapter 13 Bankruptcy. If you don’t have the ability to pay back your creditors, than maybe we think about a Chapter 7 Bankruptcy. I wish the world was always that simple. Unfortunately, it is not.

Read More

Bankruptcy in MN is normal. Don't be embarrassed.

Posted by Wesley Scott on June 24

Financial trouble brings with it a boatload of negative emotions.  People dealing with money problems experience stress, depression, anxiety and desperation.  Being in a tough spot financially can lead to a feeling of isolation – it’s embarrassing to talk with someone about these troubles, whether that someone be a friend or relative or a stranger.

Read More

What Happens When Someone Dies During a Chapter 13 Bankruptcy

Posted by Wesley Scott on June 22

In my last post I wrote about the rules regarding inheritances as property of the bankruptcy estate – and my focus was on the rules that apply to people in chapter 7 cases. But there’s another chapter that the attorneys at Kain & Scott practice – chapter 13. And inheritances in chapter 13 cases are handled a little differently.

Read More

Self Betterment Through Minnesota Bankruptcy

Posted by Wesley Scott on June 22

As a society we are perpetually telling children to try new things, experience life, fail, grow, and learn. But it seems as we age, we are more reluctant to do any of those things. We like the status quo.  We never want to venture outside of our comfort zone.  But why? Are those not the things that make life worth living-that make you become a more interesting person?  Lately, I have really been trying to push myself to learning new skills.

Read More

Do you have to do a Chapter 13 bankruptcy if you make too much money?

Posted by Wesley Scott on June 18

While the clear majority of bankruptcy cases filed in Minnesota are Chapter 7 (liquidation) bankruptcies. You would be surprised how often people making $50K, $80K, $100K, or even $200K+ need to file for bankruptcy relief. While it is easy to say, “if I made that much money, I could definitely afford my bills and live a normal life.” The problem is, that unexpected events occur (which should now be more obvious than ever), which can cause people earning a high income to no longer afford their bills.

Read More

What if Someone dies During Bankruptcy?

Posted by Wesley Scott on June 17

I’ve posted two recent blogs regarding the concept of property in bankruptcy cases, focusing on property that an individual may not have at the time a bankruptcy case is filed, but which the Bankruptcy Code identifies as property of the bankruptcy estate. I wrote about some common examples of this type of property – earned but unpaid wages, tax refunds, insurance residual payments and real estate commissions. The key point in these examples is that all of these not-yet-received payments were owed to the bankruptcy debtor at the time the bankruptcy case was filed – any wages, refunds, residuals or commissions earned after the filing date belong to the debtor, not the bankruptcy estate.

Read More

Minnesota Bankruptcy Law & Exemption Updates - July 1, 2020

Posted by Wesley Scott on June 16

As attorneys that specialize only in bankruptcy law, Kain & Scott stays on top of all changes to bankruptcy law as they happen through-out the year. Whether this is related to new acts of Congress, such as under the CARES Act which provides specific relief to bankrupt debtors, or Minnesota state law, it is important your bankruptcy attorney stays on top on all changes to the law.

Read More

What happens to your credit after bankruptcy?

Posted by Wesley Scott on June 15

This has to be the most common concern expressed amongst visitors to our website and questions asked during appointments. It is not what you think. What you think will happen does not. People are always surprised to learn that your credit score and overall credit profile typically dramatically improve. Shut the front door right? How can this be true? Sometimes, the images your mind can create are pretty far-fetched. I remember thinking before I did bankruptcy work, I wonder if the “bankruptcy people” like follow you in a grocery store and inventory what you are buying. No! They certainly do not.

Read More

Considering Filing Bankruptcy And Embarrassed?

Posted by Wesley Scott on June 14

I totally get this feeling. I have high anxiety myself and the thought of having to file bankruptcy would be a hurdle that would not be easy for me to jump. How many of us wind up on broken roads we did not expect? If you are honest with yourself you would say every single one of us. Your intentions are wonderful but things don’t always work out the way you hoped. Consider the person who opened a business and hoped to be a millionaire. Don’t we all want this?

Read More

What You Need To Know About IRA's In Bankruptcy

Posted by Wesley Scott on June 13

55% of all the people who are employed in the United States participate in some sort of retirement savings plan – whether that is a pension, a 401(k) or an Individual Retirement Account (IRA).  Congress has been clear in exempting almost all retirement accounts from administration by bankruptcy trustees.  So as a general rule, if you are thinking about the possibility of filing a bankruptcy case you do not have to worry about losing your retirement savings – 401(k)’s and pensions are not part of an individual’s bankruptcy estate and IRA’s are exempt up to more than one million dollars.  So it seems pretty clear that Congress, in passing bankruptcy laws, intended to protect people’s retirement savings from their creditors.

Read More

Minnesota's Most Kind & Helpful Bankruptcy Law Firm

Posted by Wesley Scott on June 12

If you are saddled with debt, you are already stressed out beyond belief. You may also be embarrassed by your situation. At Kain & Scott, we tell you why you should never feel embarrassed about having debt and why there is definitely hope. We have helped people from all walks of life get rid of a debt problem permanently. No one likes to have debt. It sucks. But if you are suffering from a debt problem you do not have to suffer alone.

Read More

Google Map Listing Spam And Minnesota Law Firms

Posted by Wesley Scott on June 8

Unfortunately, there are people in Minnesota who are bent on spamming Google maps and distorting their hours of services or whether they are even actually at a location at all. I recently came across a scenario where the law firm had not been in their purported office location in almost 4 years! This is despite a live Google Map listing showing the law firm had an office at a physical location and the law firm was open like 75 hours per week. In reality, this was not their office and not only was their purported office not open 75 hours a week, they had not been there for almost 4 years.

Read More

Reaffirmation Agreements Explained

Posted by Wesley Scott on June 7

In some situations, a debt can be discharged through a bankruptcy, but a debtor may wish to pay that particular debt. The most common example is a vehicle. Bankruptcy does not prevent a debtor from voluntarily paying a debt that would otherwise be dischargeable. The lender is protected by the security interest attached to the collateral and if the debtor cannot repay the debt, the lender may possess the right to take away the collateral.  A reaffirmed debt is treated as if the debtor never filed for bankruptcy.

Read More

Am I Required to Reaffirm my Mortgage?

Posted by Wesley Scott on June 6

A reaffirmation agreement reinstates that you agree to pay a loan under the same terms and conditions of its original contract. After you have signed a reaffirmation agreement, you are legally bound to that loan and the debt. If something physically happens to your home, you fall behind on payments, or some other breach of contract occurs, you are bound to pay the debt owed after insurance or a foreclosure sale.

Read More

Looking To FIle Bankruptcy in MN? Don't Trust Google Maps

Posted by Wesley Scott on June 4

There is an effort under way to clean up Google Map Business Listings that are complete crap. The effort is called “stop crap on the maps”.  I recently came across 7 Google Map Listings from a single lawyer who claims to have 7 offices and they are all staffed fulltime. How can this be true? How can one lawyer be at all locations, full time? The answer is the lawyer cannot.

Read More

Do I Have Enough Debt To File Chapter 7 Bankruptcy?

Posted by Wesley Scott on June 3

It occurs to me that this is a common question that is asked every day in Minnesota by hundreds of people. In practice, the amount of debt that is “enough” to file a Chapter 7 Bankruptcy will be different for everyone if you think about it. For example, if your income is limited to $675.00 per month in Social Security Disability and you have $5,000.00 in credit card debt, that $5,000.00 may not seem like a lot to you but it is for the person who is making $675.00 per month in Social Security Disability. Plus, what happens if this creditor gets a judgment against this person and threatens to freeze this individual’s bank account?

Read More

Beware of Refinancing Your Debt during this COVID-19 Pandemic.

Posted by Wesley Scott on May 31

Now is a pivotal time for most of us, full of uncertainty, and the decisions you make to deal with the coronavirus and related shut-down can have a huge impact on the rest of your life and business.

Read More

Can I Keep a Couple Credit Cards and Not File Bankruptcy on them?

Posted by Wesley Scott on May 30

Bankruptcy is not something where you pick and choose what goes away and what does not. It takes a snapshot of all your assets and all your liabilities at a particular point in time (ie the date you file bankruptcy), and removes your personal liability for nearly all of them. The question is not what do I get to keep, but what survives a bankruptcy filing? That is: loans attached to vehicles and property (secured debt), debt from a divorce, child/spousal support, criminal court ordered fines, student loans, and most taxes.

Read More

What You Need to Know About Property And Bankruptcy - Part 2

Posted by Charles Nguyen on May 29

In a previous post, I wrote about some simple rules for determining ownership of property.  The concept of property is important in both chapter 7 and chapter 13 bankruptcy cases – it affects the administration of chapter 7 cases and the amount paid in monthly chapter 13 plan payments, since the debtor’s property composes what’s called the bankruptcy estate.  And in most cases, property ownership is pretty easy to determine.  But there are some cases in which who owns property – and how much the property is worth – can get complicated.  Here are a few examples:

Read More

Commissions and Residual Payments In Bankruptcy

Posted by Wesley Scott on May 28

I’ve written a couple posts about property ownership and what owning property means in bankruptcy law.  Determining whether an asset is property of a bankruptcy estate, and thus subject to administration by a chapter 7 bankruptcy trustee is a critical part of a debtor’s attorney’s job.  And as I wrote earlier, one of the tricky issues is that property of the bankruptcy estate can include property that a debtor does not yet control or possess. 

Read More

What is the Bankruptcy Code

Posted by Wesley Scott on May 21

The federal bankruptcy system is grounded on the grant of power contained in the United States Constitution.  This gave Congress the power to create “uniform laws on the subject of bankruptcies.”

Read More

How to choose the right Minnesota Bankruptcy Lawyer

Posted by Wesley Scott on May 20

Don’t settle for less than the best bankruptcy law firm in Minnesota. I am sad when I see clients calling us frustrated because they cannot get a hold of the bankruptcy lawyer they hired. The conversations always go something like this: Client says, “can you help me? I have a problem and I have called my bankruptcy lawyer and she/he will not return my call.” I feel terrible for these people. And the call always puts Kain & Scott in an awkward position. I mean yes, we want to help, always! But, your lawyer is still your lawyer and the person who understands the case the best. So we often say, “look, we are so sorry you are going through this…but we think you should connect with your lawyer and see if you can’t smoke the peace pipe.”

Read More

Property Ownership In Bankruptcy

Posted by Wesley Scott on May 19

A fundamental requirement in bankruptcy law is the determination of the ownership of property.  This applies to both real estate and personal property.  In chapter 7 cases, the ability to exempt property from administration by a bankruptcy trustee can make the difference between retaining or surrendering property.  In chapter 13 cases, the ability to exempt property can have a direct relationship to the amount of the monthly chapter 13 payment.  But who owns property can become surprisingly complicated.  Here are a few guidelines regarding property ownership.

Read More

Can My Tax Debt Be Discharged in a Bankruptcy?

Posted by Wesley Scott on May 19

One of the most common questions we field this time of year is whether tax debt is dischargeable. So many people are under the impression that tax debt can never be discharged in a bankruptcy, but that is not always the case! As with many things in bankruptcy, and life, the answer is not a simple yes or no, but it is possible to discharge taxes. Read more to find out if your tax debt might be discharged in a bankruptcy.

Read More

Watch Out For This When Filing Bankruptcy In Minnesota

Posted by Wesley Scott on May 17

There is no shortage of companies and law firms that market to Minnesotans who are suffering with debt. I cringe when I see commercials of companies pedaling solutions to Minnesotans suffering debt through some sort of debt consolidation plan that makes solving the debt problem too good to be true. And often, it is too good to be true. You have no idea how many good Minnesotans get sucked into these plans, many of which front end their fees to make sure they get paid regardless of your success in the supposed plan.

Read More

Minnesotans Filing Bankruptcy Deserve To Be Treated Like Rockstars

Posted by Wesley Scott on May 16

Do you find this headline to be peculiar? I don’t. In fact, we believe this 100% at Kain & Scott. This is not some marketing gimmick at all. We honor the courage it takes Minnesotans to reach out for help. How do we honor the courage it takes to reach out to Kain & Scott? In everything we do from the moment you reach out to Kain & Scott until we are finished putting you through our FREE 90 Day Credit Repair Program and beyond. You see, we are never done with clients at Kain & Scott. Our guests sometimes need things from us years after we represented them in a case. No problem is what you will always hear from us.

Read More

Filing Bankruptcy in MN? Hire a Minnesota Law Firm

Posted by Wesley Scott on May 15

Doesn’t it sound strange to read this? I think it does. Wouldn’t it make sense if you wanted to file a bankruptcy in Minnesota to hire a Minnesota law firm? I think it makes perfect sense. I feel bad for Minnesotans who are solicited by out of state companies or “law firms” to file bankruptcy in Minnesota. You say wait, how does that work? Well, it starts with being very careful when you first communicate with someone about bankruptcy. It turns out, there are companies who solicit you to file bankruptcy in Minnesota by “signing you up” and then referring you back to a Minnesota bankruptcy attorney?

Read More

How To Clear Up Credit Reports After Bankruptcy

Posted by Wesley Scott on May 14

The world is not a perfect place. I am glad it isn’t. Otherwise, life would be very boring indeed! In a perfect world, your credit reports would magically be perfect after filing bankruptcy and receiving a discharge. That does not always occur.

Read More

Coronavirus and Bankruptcy: We Will Get Through This

Posted by Wesley Scott on May 13

There are not too many global events that can affect us all like the Coronavirus can. You may not be personally afraid of the virus but if you are 75 years old and in a retirement home you may be scared to death. We have a collective responsibility to care for one another despite the cost in terms of money.  The Coronavirus has been no fun for anyone. We have literally thousands of scientists all over the world in search for a vaccine. I believe we will 100% have a vaccine for the Coronavirus, the question is when?

Read More

Life After Bankruptcy In Minnesota

Posted by Wesley Scott on May 12

What is life like after bankruptcy in Minnesota? Rarely does this topic get discussed in a blog format. There are all kinds of blogs discussing what to do before bankruptcy, which firm to use, and what bankruptcy is and how it works but very little is written about what really happens to you after bankruptcy is over.

Read More

The Best Birthday Gift To Give Yourself Is Bankruptcy

Posted by Wesley Scott on May 11

If you think I am kidding I am not. One of the best gifts you can give yourself is the gift of mental and physical health. There is no better way to protect your mental and physical health than to shed unwanted debt and repair your credit as fast as you can.

Read More

Never Do This On The Day You File Bankruptcy

Posted by Wesley Scott on May 10

There are things you should never do on the day you file bankruptcy. The date you file bankruptcy is a snapshot of your life that is disclosed to your creditors along with the bankruptcy trustee. From that date, we glean what are your assets and what are your debts. We also see from that date backwards what kind of payments you made to creditors and what kind of transactions you made.

Read More

Filing Bankruptcy For Yourself? You Have a Fool For A Client

Posted by Wesley Scott on May 9

When I was in law school, they always told us the lawyer who tries to represent herself has a fool for a client. Same holds true for non-lawyers trying to represent themselves—especially in a mine laden area of law like bankruptcy. Let me ask you a question--- do you think a heart surgeon would do heart surgery on themselves? Of course not. Do you think a non-heart surgeon would do heart surgery on themselves? Of course not.

Read More

What is the Chapter 7 Bankruptcy Estate

Posted by Wesley Scott on May 8

The Bankruptcy Code provides that filing bankruptcy automatically creates a new legal entity called the bankruptcy “estate.”  The estate separates what property is owned by the individual after bankruptcy from what property is to be sold to pay creditors.  

Read More

Why Minnesotans Should Never Represent Themselves In Bankruptcy

Posted by Wesley Scott on May 7

When I was younger, I remember thinking to myself how much can I save if I do this myself? Sometimes, it made sense and often times it was a major mistake. For example, I remember one time thinking I can change oil in my go-cart right? Wrong! I am not making this up. I was in the process of changing oil on the go-cart when I turned the oil plug just a little too tight. I ended up stripping the oil plug threads. This little snafu cost me several hundred dollars. An oil change would have cost me 20-25 bucks max.

Read More

How To Choose Minnesota's Best Bankruptcy Law Firm

Posted by Wesley Scott on May 6

When I hire professionals, I want the professionals who are not necessarily the “cheapest”, but I want to hire professionals that 1) know what they are doing, 2) treat me like a rock star, and 3) I never have communication problems with. How hard is this to do with bankruptcy lawyers in Minnesota? Harder than you think. The Google reviews are littered with reviews of either bad lawyering or bad communication from the lawyer and his/her staff. This is not right.

Read More

Should I File Bankruptcy or Tough It Out?

Posted by Wesley Scott on May 5

I feel terrible for people suffering from overwhelming debt. Every single one of us wants to pay our bills. I have never met a single person who did not want to pay their bills. Paying our bills is not the question. It is the lack of an ability to pay our bills that we are really discussing. And what it all comes down to is this very relevant question: Should you protect your family over your creditors or not?

Read More

What Is Life Like After Bankruptcy?

Posted by Wesley Scott on May 4

In a word? Wonderful! Why? How can that be? What about my credit? What about my assets in bankruptcy? What about my pride? What if monkeys fly out of my butt? The reason I raise all these questions for you is I have high anxiety. There would be a never ending stream of questions and “what ifs” if I were considering filing bankruptcy. So, we totally understand how you feel right now. All of our current and former clients felt the same way. But what they found is that life on the other side of bankruptcy is wonderful.

Read More

What to avoid when filing bankruptcy in MN

Posted by Wesley Scott on May 3

I remember hiring a lawyer one time. He was juggling many cases. We needed him to represent us in a legal matter that was not overly complicated but we did not have time to do it ourselves. Besides, we learned in law school, that a client who represents themselves has a fool for a client. It is hard to be emotionally detached from a matter and hand the legal matter yourself. That is why even lawyers hire lawyers to represent them.

Read More

Chapter 7 Bankruptcy in Duluth, MN

Posted by Wesley Scott on May 2

A Chapter 7 Bankruptcy is sometimes referred to as a “fresh start” bankruptcy. It’s like hitting the reset button and starting over again or taking a mulligan in golf. It is a wonderful tool that can be used by residents in and around Duluth, MN to get rid of unwanted debt. Each year many Duluth residents opt to get their lives back quickly and are now living without overwhelming debt.

Read More

What to do if your lawyer messed up your bankruptcy

Posted by Wesley Scott on May 1

Unfortunately, we see situations like this all too frequently. We get people who call us up and say basically, can you help us with our bankruptcy? The attorney we hired goofed up and now will not call us back. You would be shocked at how many times Kain & Scott gets this type of phone call. I feel bad for these people but I also wonder, had these good people spent a few more minutes researching Minnesota bankruptcy attorneys, could they have found someone better?

Read More

Coronavirus, Debt And A New Start

Posted by Wesley Scott on April 30

Raise your hand if you have been affected in some way by the Coronavirus? That will be all of us. Now raise your hand if you have been financially devastated by the Coronavirus? That is a lot of us. Now, raise your hand if you wanted to be negatively financially impacted by the Coronavirus? Of course you did not.

Read More

Credit Unions and Cross-Collateralization With Vehicle Debt

Posted by Wesley Scott on April 29

Are you a member of a credit union? Do you have an auto loan on a vehicle with that credit union? Did you know that if you have any other debt with that credit union, it is most likely also secured by your vehicle? Read more to find out why.

Read More

Student Loans and the CARES Act

Posted by Wesley Scott on April 28

On March 27, 2020 the CARES Act was signed into law, which among many things, provided temporary student loan relief. This relief is only for federal student loan borrowers whose loans are held by the US Department of Education. This is an important point. Any private student loans are not affected by this Act, and continue to remain collectable.

Read More

What’s the deal with my credit score and credit report?

Posted by Wesley Scott on April 27

Your credit score is a number that measures how likely you are to repay loans on time. It essentially assesses the risk of an individual not being able to pay back that loan.

Read More

The Background Of Bankruptcy

Posted by Wesley Scott on April 26

The US Constitution authorizes Congress to enact uniform laws regarding bankruptcy. Congress created the Bankruptcy Code and the Federal Rules of Bankruptcy Procedure. The Code and Rules set forth the formal procedures and legal processes for individuals and entities experiencing debt.

Read More

How to file bankruptcy in Minnesota

Posted by Wesley Scott on April 25

Debt smothers the life out of you. Everything is dependent upon how much debt you have. Think about it, the kind of vehicle you drive, the kind of home you live in, and even the quality of food you eat is determined by the amount of debt you have. No wonder thousands of Minnesotans each year decide to get their lives back by ridding themselves of debt and repairing their credit using Kain & Scott’s FREE 90 Day Credit Repair Program.

Read More

How to summon the courage to file bankruptcy

Posted by Wesley Scott on April 24

I wonder about this question a lot. If you think it doesn’t take courage to file bankruptcy, you have never done it. My mom used to say that about raising children. She would say, “if you think raising children is easy, you have never done it.” My mom was right about that! Let me ask you a question. When you go to the doctor, and get a physical, do you like doing so? Of course not. We humans are private people and we would prefer not to be exposed. And yet we still go to the doctor. Why? Because we want to protect our health.

Read More

Why Minnesotan's turn to Kain & Scott When They Need to File Bankruptcy

Posted by Wesley Scott on April 23

We know you would rather be fishing, going to the park, or spending time with your family rather than filing bankruptcy. Having debt problems cripples your life. Everything is seen through the prism of the debt you have. Can you purchase this? No, you have too much debt. Can you buy a house? No, you have too much debt. And so the story goes.

Read More

How to improve your credit using Kain Scott's Free Credit Repair Program

Posted by Wesley Scott on April 22

At Kain & Scott, we have two jobs. One is to help our guests eliminate debt using either Chapter 7 Bankruptcy or Chapter 13 Bankruptcy. Once the debt is eliminated, we do not leave our guests hanging. We go the distance with our guests.

Read More

What about my coronavirus stimulus check and bankruptcy?

Posted by Wesley Scott on April 21

On March 27, 2020, Congress passed, and the President signed into law the CARES Act, designed by Congress to address the pressing financial concerns facing Americans in light of the  Coronavirus pandemic.

Read More

What is income for bankruptcy purposes?

Posted by Wesley Scott on April 20

The preparation of bankruptcy petitions, schedules and statements, whether for a chapter 7 or a chapter 13 case involves an analysis of how much income is earned by the bankruptcy debtor or debtors.  It’s a factor in the determination of monthly income (the means test) and it’s a factor in scheduling an accurate budget in the bankruptcy schedules.

Read More

Stimulus Checks: What Does It Mean For Your Bankruptcy?

Posted by Wesley Scott on April 19

The CARES Act passed last week by Congress authorized stimulus checks based on income for most Americans.

Read More

What happens to lawsuits in a bankruptcy case?

Posted by Wesley Scott on April 18

One leading reason for people to consider filing a bankruptcy case is becoming a defendant in a lawsuit.  In many cases, being served with a lawsuit is the “last straw” that makes people who have been trying to fight off their financial problems change course and decide to file a bankruptcy case.

Read More

What are the most common causes of bankruptcy?

Posted by Wesley Scott on April 17

Every single client has unique circumstances that brings them into our office. We fully understand that bankruptcy is not what people want to be doing and for that specific reasoning, they don’t want to be in our offices. Please make note, we will never judge you or your circumstances that brought you to us—we will simply help you in the most empathetic and professional way possible.

Read More

How can I build my credit score back up?

Posted by Wesley Scott on April 16

Whether it is after you have received a discharge in your bankruptcy or you are looking for ways to boost your credit score, you have come to the right place! Not only does Kain & Scott specialize in bankruptcy, we also have an in-office credit repair specialist that will make sure your credit report is clear and free of creditors! This is a program we offer free of charge after you receive your bankruptcy discharge.

Read More

Why do my payments change throughout my Chapter 13 bankruptcy?

Posted by Wesley Scott on April 15

On the surface, a Chapter 13 bankruptcy can be kind of a complex configuration of numbers and rules to understand. Our team at Kain & Scott is dedicated to complete transparency and communication with our clients—we want you to understand the ebb and flow of your chapter 13 bankruptcy case!

Read More

BANKRUPTCY: “WE DON’T JUDGE YOU, WE HELP YOU GET YOUR LIFE BACK!™

Posted by Wesley Scott on April 14

If you need to file bankruptcy there is a certain way you would like to be treated by the professional you hire. You would like to be treated with kindness, helpfulness, professionalism, and yes, exceptional customer service. There is one bankruptcy law firm in Minnesota who delivers on these values; Kain & Scott.  These just happen to be the four values Kain & Scott lives by. Those values are the prism for how we hire employees, grade each other, and ultimately the test to see if you can continue to work at Kain & Scott.

Read More

How Many Times Can I File Bankruptcy in MN?

Posted by Wesley Scott on April 9

Just because one event in your life causes you to seek relief in bankruptcy that doesn’t mean it couldn’t happen again. Think about this. You start a business when you are 34. The business ends miserably and you discharge your liability on a large commercial lease, trade payables, and a bank loan in a bankruptcy. Next thing you know you are 48 years old, you suffer a heart attack and you were in the middle of switching jobs and got caught with no health insurance because the Cobra premium was insane and you could not afford it. What do medical bills from a heart attack look like without insurance? I bet the medical bills total 50k or more.

Read More

Coronavirus and Bankruptcy: Is There a Medical Bankruptcy?

Posted by Wesley Scott on April 8

Every once in a while I get asked if there is such a thing as a medical bankruptcy? Well, not really. I mean yes, you can file bankruptcy on medical bills, but there is no “medical bankruptcy” in the sense that there is one particular bankruptcy that handles only medical bills and nothing else.

Read More

Why Minnesotan's Suffering With Debt Choose Kain & Scott

Posted by Wesley Scott on April 7

Minnesotans who are suffering from debt problems go to Minnesota’s largest bankruptcy website: www.kainscott.com. When I am looking for information on a subject, I want the best information I can find. I don’t want to spend days skipping around websites trying to cobble together good information on bankruptcy in Minnesota. If you live in Minnesota and you are contemplating filing a bankruptcy in Minnesota, this is the website you want to go to.

Read More

Coronavirus, Business and Bankruptcy: What is Your passion?

Posted by Wesley Scott on April 6

All across Minnesota, there are tens of thousands of businesses that are suffering because of Coronavirus. Many of these business owners will face bankruptcy through no fault of their own. Who saw a pandemic coming 6 months ago? Even if you could have predicted the pandemic, what would you have done differently? Would it really have changed the course of events in a meaningful way?

Read More

Governor Walz Makes Kain & Scott Essential Business

Posted by Wesley Scott on April 5

There are certain services that are considered essential even during a government ordered Coronavirus shelter in place order/lock down. Getting relief from your debts is one of them. Every Kain & Scott employee is consider an essential worker and will be in the trenches helping good Minnesotans just like you get out from under crippling debt.

Read More

Minnesotans Facing the CoronaVirus and Bankruptcy

Posted by Wesley Scott on April 4

Life is strange and very humbling. For so many of us, just a month ago we were riding stock market highs, good incomes, and plenty of toilet paper. And then, all of sudden someone shut the lights off and everything went dark. The Coronavirus doesn’t care about the economy or your health. It destroys anything in its path. What are Minnesotans to do who have never missed a monthly payment in their life who all of sudden have no income?

Read More

Minnesotans Who File Bankruptcy Go to Kainscott.com

Posted by Wesley Scott on April 3

I am an information junkie. If I am feeling a bit uneasy about a subject I want the most clear and understandable information on the subject so I can get clarity on, and fast. One of the wonderful things about www.kainscott.com is it is written so that an eighth grader can understand it. That is exactly how I want my information on a subject that is a bit foreign to me. I want it so that even an eighth grader can understand it.

Read More
Take the first step toward  getting your life back  Let us help you get started on your road to a debt-free life Sign Up for a Free Consultation