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.

 

    Madison Newberg

    Recent Posts

    Can I Pick and Choose Which Debts to List in bankruptcy?

    Posted by Madison Newberg on June 9


    One common myth about bankruptcy is that you can pick and choose which debts to list. People often have a credit card or particular debt that they want to keep. People often ask, do I really have to list every debt? The answer is yes. In a Chapter 7 or Chapter 13 bankruptcy you are required to list all of your debts. The bankruptcy code says that all creditors must be treated equally. 

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    Does a Chapter 13 Bankruptcy Require Repayment of All Debt?

    Posted by Madison Newberg on June 3

    With a Chapter 7 bankruptcy, your debt typically isn’t repaid. It is often times referred to as a fresh start bankruptcy. In a Chapter 7 bankruptcy any non-exempt assets are liquidated by the Trustee and the proceeds are used to pay towards your debts. To the extent your debts are not paid off, they get wiped out or discharged. The vast majority of Chapter 7 cases are no assets cases, meaning there are no proceeds to disburse to creditors.

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    Is There Anything I Shouldn’t Do Before Filing Bankruptcy?

    Posted by Madison Newberg on May 28

    Filing for bankruptcy can be confusing for those who aren’t familiar with the process. You may be wondering if there is anything you shouldn’t do before filing for bankruptcy. Certain things are normally innocent, but if done before bankruptcy, can cause problems. Below are things to avoid before filing for bankruptcy. 

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    Will Landlords Rent to Me if I File Bankruptcy?

    Posted by Madison Newberg on May 21

    If you are considering filing for bankruptcy you may be concerned about whether you’ll be able to find housing. The good news is that you can rent an apartment after filing for bankruptcy.  Even though a bankruptcy will remain on your credit report for seven to ten years, you will still be able to rent a home. Fortunately, there are other factors landlords take into account when considering renting to you. 

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    What is a Judgment and What Should I do Now?

    Posted by Madison Newberg on May 13

    When you can’t pay your debts, your creditors can take legal action against you to recover the money you owe. Your creditors will often file a lawsuit against you. If your creditor obtains a judgment against you they will be able to take action to enforce that judgment. This can include wage garnishments or seizing money from bank accounts. 

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    How Will Filing Chapter 7 Bankruptcy Affect a Co-signer?

    Posted by Madison Newberg on May 4

    Lenders commonly ask for a co-signer. A co-signer is someone who agrees to be legally responsible for repaying a debt if the primary borrower defaults. A co-signer takes on equal responsibility for the loan, this means they are obligated to make payments if the primary borrower cannot. Common examples are parents co-signing for their children’s student loans or auto loans, or a friend co-signing a lease. 

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    I am Filing for Bankruptcy, Will I Lose my Health Savings Account?

    Posted by Madison Newberg on April 28


    If you are considering filing for bankruptcy, you may be wondering if your assets and property will be protected. If you have a health savings account (HSA), you may be wondering whether or not you will be able to keep those funds. 

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    What is a 341 Bankruptcy Meeting and What Can I Expect?

    Posted by Madison Newberg on April 20

    Whether you file a chapter 7 or a chapter 13 bankruptcy you will be required to attend a 341 Meeting or meeting of the creditors. This is a 5-10 minute meeting with the bankruptcy trustee and an attorney will be there with you. It is called a meeting of the creditors but few creditors actually attend the meeting. Most of the time individuals can expect that no creditors will be present. 

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    I Filed Bankruptcy, Will I Ever be Able to Buy a Home?

    Posted by Madison Newberg on April 12


    You may be wondering if you will ever be able to purchase a home after filing for bankruptcy. Many people believe that they will never qualify to purchase a home after filing a bankruptcy. However, this simply isn’t true. After filing you can own a home, purchase a new car, or obtain credit if you wish to do so. 

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    How Can Bankruptcy Have a Positive Impact on The Community?

    Posted by Madison Newberg on April 4


    One of the most common myths surrounding bankruptcy is that it is harmful for everyone involved. People often associate bankruptcy with irresponsibility and dishonesty. Many people assume that bankruptcy causes widespread harm for individuals and creditors. While there can be bad actors on both sides, this is generally not the case. 

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    Will My Employer Be Notified That I Have Filed Bankruptcy?

    Posted by Madison Newberg on February 20

    There are some topics you simply don’t want to discuss with your employer. Bankruptcy is often one of them. A common concern for those considering filing bankruptcy is whether their employer will receive notice they have filed. 

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    My Wages are Being Garnished, Can I Get My Money Back if I file bankruptcy?

    Posted by Madison Newberg on February 5

    Wage garnishments are one of the common reasons individuals decide to file bankruptcy. Wage garnishment is a process where a portion of your wages are withheld by your employer to pay off your debts. Wage garnishments can occur for different reasons such as unpaid debts like credit cards, personal loans, or child support. 

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