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.

 

      Jesse Horoshak

      Jesse Horoshak

      Recent Posts

      Should I Use Retirement Funds to Pay My Debt?

      Posted by Jesse Horoshak on March 4

      If you have debt that is piling up and you have found yourself in a situation where you just simply cannot keep up with your monthly bills, but you also have been wise about saving for retirement, it can be awful tempting to see that retirement fund as a piggy bank that you can use now to pay off your debt and get back on track. DON’T DO IT! Read more to find out why!

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      How Does Filing a Bankruptcy in Minnesota Protect Me?

      Posted by Jesse Horoshak on September 26

      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?"

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      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.

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      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.

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      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.

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      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.

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      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.

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      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.

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      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.

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      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.

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      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.

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      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.

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      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. 

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      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.

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      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?

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      Can You Use Your Credit Cards in Brainerd Before Filing Bankruptcy?

      Posted by Jesse Horoshak on February 2

      You have had a good paying job and also using your credit cards for purchases like any other person would when the unthinkable happens: you either lose your job or for some reason your income decreases.  The dam is about to break and there is no relief in sight because you now have these credit card bills that you previously had been able to pay and had every intent to pay back.  Bankruptcy seems like the best option to get your life back, but you have heard that your creditors will cry “FRAUD!” because you have been using your credit cards recently and you fear you need to wait 90 days before you can file bankruptcy.  Your worry is that you simply cannot wait any longer.  You do not want to be accused of fraud, but you also do not think you can wait 90 days before filing for bankruptcy.  You need relief sooner rather than later.  What can you do?  What SHOULD you do?

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