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.


      Erick Bohm

      Erick Bohm

      Recent Posts

      Finding a Minneapolis MN Bankruptcy Lawyer To Help You Get Debt Free

      Posted by Erick Bohm on May 31

      Do you ever wonder why a Minneapolis Bankruptcy Lawyer would only offer bankruptcy representation but do nothing to repair your credit? Are you ready to tidy up your debt mess with a thorough cleaning of your entire financial slate?

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      5 Myths About Filing Chapter 7 Bankruptcy in Minnesota

      Posted by Erick Bohm on November 7

      Some myths are fun and harmless: from Paul Bunyan to the Lost City of Atlantis, tall tales spark our imagination and inject the extraordinary into our ordinary lives.

      Other myths, such as those surrounding filing Chapter 7 bankruptcy in Minnesota, are far from harmless. Without the facts, consumers can be confused by misinformation that prevents them from making sound financial decisions. Whether it’s false claims about the time and expense, or misleading information about what bankruptcy can and can’t do, these myths are just as make-believe as the Tooth Fairy and the Fountain of Youth

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      Counseling Requirements When Filing for Bankruptcy

      Posted by Erick Bohm on October 13

      Before you can file for Chapter 7 or Chapter 13 bankruptcy, you must consult with a nonprofit credit counseling agency. There are two courses you must complete. One is pre-filing and one is post-filing. Most people attend these courses online but they can be completed over the phone as well. The purpose of the first course is to see whether there are any options outside of filing for bankruptcy and the purpose of the second course is to educate you on your budget moving forward.

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      How to Achieve a Debt Free Life

      Posted by Erick Bohm on October 10

      Have you ever wondered what life without debt would be like? Believe it or not, it’s entirely possible. Whether you’re under water on your vehicle, fallen behind on your mortgage, or have overwhelming credit card debt, bankruptcy can help you break free from the shackles and live a debt free life. In a matter of a few short months, you could have your financial life back! Here’s how…

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      How Does Bankruptcy Affect Foreign Debt?

      Posted by Erick Bohm on October 5

      Here in Minnesota, it’s not unheard of to have clients who are either from Canada or frequently move back and forth. Sometimes clients will come to us with questions regarding their foreign debt. When I say foreign debt, I’m referring to debts which were incurred outside of the United States. So, what happens when someone incurs a debt outside of the United States and then moves here? Well, unlike debts which are recognized across state borders, international debts are generally not collectible.

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      Why You Shouldn't Fear Filing for Bankruptcy in Minnesota

      Posted by Erick Bohm on September 22

      Fear of the unknown is one of the most difficult emotions to grapple with. When it comes to bankruptcy, most people are fearful because they don’t know what the future has in store. Let me be the first to tell you, everything is going to be ok. People are fearful of bankruptcy because of what they’ve heard from others. There’s a good chance, however, these people don’t know what they’re talking about. Bankruptcy is a great option for individuals who are overwhelmed with debt. If you’re tired of the overwhelming pressure debt has caused in your life, we can help.

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      How To File For Chapter 7 Bankruptcy

      Posted by Erick Bohm on September 13

      Don’t you wish there was a fast and easy way to erase your debt in Minnesota?

      It’s easy to get into debt: the loss of your job, change of circumstances, an unstable market, and serious illness are just a few reasons you may have fallen behind on your payments. Once you fall behind on your payments, the amount of your debt grows quickly as penalties and interest are added.

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      Pros and Cons of Declaring Bankruptcy

      Posted by Erick Bohm on September 5

      Let’s face it, nobody wants to file bankruptcy. Then again, nobody wants to struggle financially, either. Unfortunately, we all struggle with our finances at one point or another. Sometimes we find ourselves in a financial bind and we need help getting out from underneath the pressure. Bankruptcy is a powerful option that helps consumers resurface after being brought down by crippling debt. Whether the debt is caused by ever-increasing interest rates, unmanageable credit cards, divorce, or medical related issues, bankruptcy may be a great option to get your life back.

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      What Happens to Lease Agreements in Chapter 7?

      Posted by Erick Bohm on August 31

      Lease agreements and executory contracts can either be assumed or rejected through Chapter 7 bankruptcy. Depending on your circumstances, you may wish to separate yourself from an existing lease agreement, or you may want to continue with your obligations after the bankruptcy. Through Chapter 7, you can choose to do either. In this blog we will look at various types of executory contracts and your options for each through Chapter 7.

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      How Bankruptcy Can Protect You from a Summons To Appear In Court

      Posted by Erick Bohm on August 11

      Here we will discuss what a Summons is and what you can do to protect yourself now that you’ve received one. Receiving a Summons can be terrifying, especially if this is unfamiliar territory.

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      How Chapter 13 Bankruptcy Can Help with Your Second Mortgage

      Posted by Erick Bohm on August 3

      If you’re under water on a second mortgage, you may be in luck. Chapter 13 Bankruptcy provides two options for solving this issue. Those two options are referred to as lien strip and cramdown. Both options can be advantageous to the property owner who has real estate valued at less than the amount owed on a first mortgage. These options are provided for under the law to promote property ownership while protecting individuals from overwhelming debt. Depending on your situation, one option may be more beneficial than the other. Ultimately, the question comes down to whether or not the property is your homestead.

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      5 Traits You Will Find In The MN Bankruptcy Attorneys at Kain & Scott

      Posted by Erick Bohm on July 27

      Accordingly to past clients, Kain & Scott attorneys are knowledgeable, courteous, empathetic, professional, and easy going. This is different than what most people have to say about other MN Bankruptcy Attorneys. Most people describe attorneys as arrogant, rude, pompous, etc. Well, sometimes that’s exactly right. Here at Kain & Scott, however, we pride ourselves on focusing outward on the client, not inward on ourselves. Your legal representation should be focused on you, not us. These five traits you will find in each of our Kain & Scott attorneys.

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      6 Steps To Getting Your Life Back Through Bankruptcy in MN

      Posted by Erick Bohm on July 13

      When was the last time you sat down and asked yourself, “how did I get here”? Chances are you say this to yourself all the time, but, truly, when was the last time you sat down and forced yourself to answer the question? If you’re like most people, you don’t spend much time with self-reflection. Self-reflection is incredibly important so you can truly understand the situation you’re in, how you got there, and how to get you where you want to be.

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      High Interest Breaking Your Bank? Here’s How Chapter 13 Bankruptcy Can Help

      Posted by Erick Bohm on July 5

      Have you recently bought a new car for a good deal then got bogged down by a high interest rate? If so, you’re not alone. Many of our clients come to us with incredibly high interest rates on vehicles. This is because lenders know everyone needs a vehicle and in most places, especially outside of major metropolitan areas, public transportation is very sparse. So, regardless of credit they'll still give you a loan, but if you've got bad credit they'll take you to the cleaners in interest. When this happens, it usually doesn’t matter how good of a deal you got, here's why:

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      Get Debt Free With Brooklyn Park, Minnesota's Nicest Bankruptcy Law Firm

      Posted by Erick Bohm on July 2

      Are you ready to seize your financial independence from debt in Brooklyn Park, Minnesota, this Fourth of July?
      Independence Day is here and, in addition to fireworks, cookouts, and family, the holiday has many Americans considering the true meaning of independence. Sure, you may have your own house, car, job, and lifestyle, but are you really independent? Or are you shackled by the weight of outstanding debt?

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      How To Qualify For Chapter 7 Bankruptcy Regardless Of Your Income

      Posted by Erick Bohm on June 20

      Chapter 7 Bankruptcy provides nearly one million debtors each year with the relief they need from overwhelming debt. Whether or not Chapter 7 Bankruptcy is the best option for you depends on a number of considerations. During your initial consultation with one of our MN Bankruptcy Attorneys we will get to know you and your situation. We will ask a number of questions to fully understand the situation you’re confronted with. After getting to know you and your situation, we will provide you a recommendation on how we think you should move forward. In this blog, we’ll discuss what Chapter 7 is, Chapter 7 filing requirements, and the Business Debt Exception to the Chapter 7 Means Test.

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      Exceptions to the Means Test in Chapter 7 Bankruptcy

      Posted by Erick Bohm on May 31

      Among the eligibility requirements to file a Chapter 7 Bankruptcy, the Means Test is used to determine whether or not a debtor has the resources available to satisfy their financial obligations. When a debtor fails to satisfy the requirements of the Means Test, they have the option of filing a Chapter 13 bankruptcy instead. However, there are exceptions to the Means Test which provide certain debtors the option of filing a Chapter 7 bankruptcy despite having too high of income. If the majority of your debts are non-consumer debts, you are a disabled veteran, or you are a military Reservists/Guardsmen, you may qualify for Chapter 7 bankruptcy regardless of your income.

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      MN Bankruptcy Lawyers That HELP You Get Debt Free & Repair Your Credit

      Posted by Erick Bohm on May 5

      At Kain & Scott our MN Bankruptcy Lawyers process is all about you. We want to help you in two amazing ways: get rid of your debt and help you repair your credit after bankruptcy. Our process is entirely focused on treating you the way you deserve to be treated.

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      What is an Automatic Stay in Chapter 7?

      Posted by Erick Bohm on April 28

      The Automatic Stay in Chapter 7 Bankruptcy is an invisible wall that keeps your creditors from collecting against you during the pendency of the bankruptcy. In rare circumstances, creditors are able to navigate the automatic stay and still act on the debts that you owe. Most of the time, creditors cease collection action once a debtor has filed bankruptcy. In this blog, we address what the automatic stay, what the automatic stay isn’t, and the benefits debtors receive once their bankruptcy has been filed.

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      Crash Course To Filing Bankruptcy in Crow Wing County, MN

      Posted by Erick Bohm on April 20

      If you’re considering filing bankruptcy and live in Crow Wing County, Minnesota, you’ve come to the right place. The decision to file bankruptcy is life-changing. You want to make sure you have as much information at your fingertips when contemplating the pros and cons of filing bankruptcy.

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      How Bankruptcy Can Be One Step Closer to a New Life

      Posted by Erick Bohm on April 10

      Struggling with overwhelming debt? If the answer is yes, you know the impact debt can have on your health. Debt is often accompanied with stress, anger, denial, and depression. Debt can also be accompanied by relief. In order to feel the relief associated with debt you have to take the necessary steps to overcome the underlying problem. One of the most effective ways of doing so it to file bankruptcy. Bankruptcy can provide relief by eliminating overwhelming debt in a matter of a few short months.

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      Shackled by Student Loan Debt? Here’s How Bankruptcy Can Help…

      Posted by Erick Bohm on April 5

      Are you one of the 44.2 million Americans with student loan debt? If so, you completely understand the enormous strain student loan debt causes to your financial well-being. For individuals between the ages of 20-30, the average monthly student loan payment is $351. $351 over the course of 12 months comes out to $4,212.

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      The Cure to Your Bankruptcy Blues

      Posted by Erick Bohm on March 17

      Overwhelming debt causes stress, relationship issues, and sleepless nights. Bankruptcy can help resolve all of this. Let’s face it, nobody wants to file bankruptcy, but instead of focusing on the negative, let’s focus on how we go about solving the problem in front of you. Whether you have been struggling with overwhelming debt for five years or five months, bankruptcy may be a great option to help you get your life back.

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      Common Questions Regarding Chapter 7 Bankruptcy

      Posted by Erick Bohm on March 16

      1. What is Chapter 7 Bankruptcy?

      Chapter 7 Bankruptcy is also known as the “fresh start” bankruptcy. Chapter 7 Bankruptcy provides debtors (an individual who files bankruptcy) with the opportunity to escape liability on certain types of secured and unsecured debts. Upon successfully receiving a discharge, debtors are no longer liable for money owed on most debts.

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      Everything You Need To Know About Filing Bankruptcy As A Sole Proprietor

      Posted by Erick Bohm on February 24

      Operating as a Sole Proprietor can be exciting and stressful at the same time. One of the biggest reasons it can be stressful is because you are personally liable for what happens. Unlike having an LLC, corporation, or partnership, you are personally on the hook for anything that happens. When debts become due, creditors can come after you directly to collect.

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      What to Expect From Our MN Bankruptcy Attorneys in Brainerd

      Posted by Erick Bohm on February 23

      No matter which of our eight Law Firms you decide to visit, we guarantee you receive the most professional and polite treatment around. As we have said for many years: we don’t judge you, we help you get your life back. This is much more than a tagline. We truly believe in helping you get your life back. Let’s unpack what exactly “we help you get your life back” means.

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      A Few Things You Should Stop Doing If You’re Filing Bankruptcy

      Posted by Erick Bohm on February 13

      Now that you’ve decided to file bankruptcy, there are a few things you want to make sure you stop doing. You need to stop using credit cards, stop paying off certain debts, and stop transferring property. This is not an exhaustive list, of course, but when in doubt, discuss any concerns you have with your MN Bankruptcy Attorney.

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      Consequences of Concealing Property When Filing Bankruptcy

      Posted by Erick Bohm on February 10

      Honesty between you and your attorney is paramount when disclosing information about your estate. As Dr. Kent M. Keith says in his book Anyway: Paradoxical Commandments for Christians, “Honesty and frankness make you vulnerable. Be honest and frank anyways”.

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      My Friend Stopped Paying on the Car I Co-Signed!! What Now!?!?

      Posted by Erick Bohm on February 2

      If you’re reading this blog, it’s likely you were kind enough to co-sign on a debt with someone, but that certain someone fell behind on payments. Since they fell behind on their payments, it’s likely the creditor is trying to collect the debt from you. If you’re experiencing this, don’t worry. We can certainly help you.

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      Behind on Utilities? Here’s How a MN Bankruptcy Attorney Can Help

      Posted by Erick Bohm on January 14

      If you’re grappling with your finances and trying to stay afloat, it’s quite possible you have fallen behind on your utility bills. Well, if you have, you’re certainly not alone. When you’re living paycheck to paycheck, it’s tough deciding which bills you pay and which ones you don’t. Often times you take turns paying your debts. If you’ve fallen behind on utilities, don’t worry. When you file for bankruptcy we can make sure you’re protected from the past due amounts that are owed. After the bankruptcy, there may be a few things you have to do to keep your services, but we’ll talk about that too. The main thing I want you to know is, it’s all going to be ok. No matter what you’re faced with, we can help you manage the obstacles in front of you. Take a look at the scenario below and then read about how the MN Bankruptcy Attorneys at Kain & Scott helped Tony with his situation.

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      How Kain & Scott's MN Bankruptcy Attorneys Helped Protect Nickie

      Posted by Erick Bohm on January 11

      First, let me tell you a little bit about Nickie. In one word – Wow! She is an extremely impressive, hardworking, mother. She works three jobs and has a teenage daughter at home. Can you imagine having to work three jobs, raise a teenager by yourself, and still pay off your debts?! Yikes! Despite Nickie’s tenacity, she fell victim to overwhelming debt. She made every effort to pay off her debts, but finally reached “the point”. If you reach “the point” when it comes to your debt, you’ll know exactly what I’m referring to. Nickie started receiving court summons in the mail that eventually turned into judgments. As she knows, the next step is wage/bank garnishment. Once that happens, the creditors will start taking up to 25% of her paychecks. Our MN Bankruptcy Attorneys simply could not let this happen.

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      How Kain & Scott's MN Bankruptcy Attorneys Helped Mike Get His Life Back

      Posted by Erick Bohm on January 10

      Recently, a man Mike approached our experienced MN Bankruptcy Attorneys at Kain & Scott with concerns about his paychecks being garnished. No fault of his own, Mike fell severely behind on medical bills after having surgery about a year ago. Because of the type of surgery, Mike has been unable to work a full 40 hour week since. Before the surgery Mike was an experienced electrician making very good money. Unfortunately, his surgery has prevented him from performing his trade as he once did. Since the surgery, Mike has only been able to earn about 30% of what he once did.

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      4 Common Bankruptcy Myths Debunked

      Posted by Erick Bohm on December 12

      We all have at least one friend or one family member that focuses on the negative aspects in every situation.  The worst part is, these are generally the least educated people when it comes to whatever the topic may be.  The topic of bankruptcy is no exception.  If you’ve discussed the idea of bankruptcy with other people, it would probably be safe to say there’s at least one person out there that has told you not to do it.  Some people get downright mad when you mention the idea to them.  Well, unfortunately, the stigma surrounding bankruptcy is the cause of such haste.  If you take the time to learn about the relief bankruptcy can provide, you can most certainly debunk whatever the naysayer’s concerns may be.  Here are four common misconceptions and the reasons why they’re not entirely true:

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      The Truth About Filing Bankruptcy in Minnesota

      Posted by Erick Bohm on November 14

      Whether you file for Chapter 7 or Chapter 13 Bankruptcy in Minnesota, there are options for making sure you can keep your house.  One of the common misconceptions about bankruptcy is the one about losing your home.  Whether you have no equity, or some equity in your house, the Federal Bankruptcy Code and Minnesota bankruptcy statutes have provisions that allow you to protect your house.  The most important part is, keep making your mortgage payments.  However, if you’ve fallen behind, don’t worry.  We also have options for making up missed payments. 

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