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?

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

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.

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…

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.

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.

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.

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.

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.

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.

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.

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.

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.

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:

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?

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.