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.


      Margaret Henehan

      Margaret Henehan
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      Recent Posts

      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.

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      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.

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      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?

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      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.

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      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.

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      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.

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      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.

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      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?

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      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.

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      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.

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      Everything You Need To Know About Chapter 13 Bankruptcy

      Posted by Margaret Henehan on May 18

      Most Minnesota families live hand to mouth. Almost half of the households in America cannot cover a $400 emergency expense. Most secured debt payments, like rent, mortgage, or auto loans, are three or four times that amount. In other words, just one missed installment can mean a world of hurt. Most people lack the means to make catchup payments.

      Most moneylenders begin adverse action, including the dreaded acceleration notice, after just two or three missed payments. An acceleration notice demands the entire loan balance immediately; the lender will no longer accept partial payments. In situations like this, a federally-guaranteed debt repayment plan is probably your best option. Almost everything you need to know about a Chapter 13 bankruptcy is described below.

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      3 Ways Our Minneapolis Bankruptcy Lawyers Help You Get Your Life Back

      Posted by Margaret Henehan on May 13

      Overwhelming debt can have a serious impact on many aspects of our lives. The longer we continue to struggle with it, the more of a negative effect they can have on us. The stress alone can place serious strain on our health and well-being but it doesn’t need to be this way. Bankruptcy is an amazing financial tool which can greatly improve the lives of those struggling to stay on top of their bills. In this blog I’m going to discuss three of the most significant ways in which our Minneapolis Bankruptcy Lawyers can help you take back control of your lives and your finances. Let’s begin.

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      What Types of Debt Can (and Can’t) Be Discharged in a Minnesota Bankruptcy

      Posted by Margaret Henehan on December 4

      One of the most common points of confusion among potential clients who are considering filing bankruptcy in Minnesota is what types of debt can be discharged.

      “Is all my debt eligible?” 
      "What about my house and car?” 
      “Can I get rid of my student loans?”
      “Is there anything you can do about my hospital bills?”
      “I have a huge utility bill – can I file for that?”

      What many people don’t realize is that not all debt is the same and, as such, not all debt can be discharged with bankruptcy, regardless of the type of Minnesota bankruptcy you file.

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      5 Mistakes to Avoid When Filing for Chapter 7 Bankruptcy in Minnesota

      Posted by Margaret Henehan on November 17

      There are 5 mistakes that may cause your bankruptcy petition to be denied and prevent you from erasing your debt. The 5 mistakes to avoid when filing for Chapter 7 bankruptcy in Minnesota are:

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      How to File Bankruptcy with Minnesota’s Kain & Scott

      Posted by Margaret Henehan on November 8

      Congratulations on making the transformative decision to file your Minnesota bankruptcy with Minnesota’s oldest bankruptcy law firm, Kain & Scott!

      Now that you’re ready to erase your debt and repair your credit with Kain & Scott, we’ve created this handy article that shows you step-by-step how fast and easy your Minnesota bankruptcy can be with our bankruptcy specialists!

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      How to File Chapter 13 Bankruptcy in St. Cloud, Minnesota

      Posted by Margaret Henehan on November 1

      When you visit St. Cloud, Minnesota’s official website, there is a staggering amount of “how to” information for residents: if you want to report graffiti, apply for a dog license, or volunteer for a great cause, all the necessary information is laid out in easy-to-follow steps. If you want to file Chapter 13 bankruptcy in St. Cloud, however, an experienced Chapter 13 bankruptcy law firm that provides excellence in bankruptcy representation to St. Cloud residents is your best source for information and guidance.

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      Chapter 7 Bankruptcy: The Fastest Way to Erase Your Debt

      Posted by Margaret Henehan on October 24

      From the newest time-saving gadget to high-speed forms of travel, as a society we love to get things done fast. With little time to spare, our busy lives require quick and easy solutions to problems – and that includes a fast and easy way to erase debts with Chapter 7 bankruptcy.

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      The Equifax Data Breach: How To Ensure It Doesn’t Affect Your Credit Score

      Posted by Margaret Henehan on September 26

      That’s probably what a lot of people thought when they first heard of the Equifax breach last week. After a bankruptcy rebuilding your credit score quickly is important. You don’t want anything getting in the way like a data leak. There have been a lot of mixed messages on what to do to protect yourself, now that most likely, your social security number, birth date, address and other personal information is floating around the universe. The breach affected 143 million people, which is basically every adult living in the United States.

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      What Happens to Your Tax Debt After Bankruptcy?

      Posted by Margaret Henehan on September 20

      Many people I speak with are interested in finding out what debts are not dischargeable in a bankruptcy. Meaning what debts will still remain after a bankruptcy. Tax debt is the most tricky debt to deal with in bankruptcy because there are so many rules in place that must be followed in order to determine whether tax debt can be discharged in a chapter 7 bankruptcy.

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      Is Debt Settlement a Good Alternative to Bankruptcy?

      Posted by Margaret Henehan on September 15

      When a potential client comes in for an initial consultation, one of the available options for a client with a debt problem is debt settlement. But is it a good alternative to bankruptcy? The answer is mainly no, it’s not, the reasons of which are spelled out below.

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      How To Find The Best Bankruptcy Law Firm In Mankato, MN

      Posted by Margaret Henehan on August 30

      Are you on the hunt for an experienced bankruptcy law firm in Mankato, Minnesota, but think you have a better chance of finding Bigfoot than a bankruptcy law firm that erases your debt and repairs your credit?

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      Beat The Debt Heat With The Best Bankruptcy Law Firm in St Paul, MN

      Posted by Margaret Henehan on August 8

      Are you sweating your unpaid debt? Are creditors turning up the heat and you need a fast and easy way to freeze your debt for good? As St Paul’s summer heat reaches its prime and the sweltering temperatures of August set in, there are tips to “beat the heat” everywhere you turn. From dips in the local pool to shaved ice binges, there are countless ways for Minnesota residents to cool off once the heat index rises.

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      “Happily Ever After” with the Best Bankruptcy Law Firm in Woodbury, MN

      Posted by Margaret Henehan on July 26

      Do you dream of a fairytale ending to your quest for a great bankruptcy lawyer to help you erase your debts in Woodbury, Minnesota?

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      How To Find The Best Bankruptcy Lawyers In Minneapolis, MN

      Posted by Margaret Henehan on June 29

      Is debt going to ruin your summer in Minneapolis, Minnesota?

      Summer is officially here and with it comes all the joys of the season: barbecues, swimming, fireworks, vacations, family gatherings, camping, and all the other favorite pastimes that come when the temperature rises. The kids are home from school, the days are longer, and the air is heavy with possibilities and promise.

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      The Best Bankruptcy Lawyers in Buffalo, MN

      Posted by Margaret Henehan on June 13

      “Debt is like any other trap, easy enough to get into, but hard enough to get out of.”

      When Henry Wheeler Shaw made that statement over 150 years ago, he may not have been thinking about Bankruptcy in Buffalo, Minnesota but it is almost eerie how true that statement holds today.

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      Deciding Between Chapter 7 or 13 Bankruptcy in Duluth, Minnesota

      Posted by Margaret Henehan on May 1

      Have you decided to file bankruptcy in Duluth, Minnesota, but are unsure which type of bankruptcy is right for you?

      First, congratulations on taking the first step towards financial freedom!

      Second, let the experienced Bankruptcy Attorneys at Kain & Scott help you find the debt solution that works for your family. We have compiled some basic bankruptcy information to help you make a smart decision regarding your financial future. Let us walk you through the basics and then contact our office to get started on our easy 4-step bankruptcy process!

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      How to File Bankruptcy in Duluth, Minnesota

      Posted by Margaret Henehan on April 19

      So, you’ve made the decision to file for bankruptcy. But you might not know the process of filing for bankruptcy in Duluth or how it works. Things seem to be less intimidating once a person understands the process. Also, understanding the process makes things seem more feasible. This applies to bankruptcy as well. Once you understand the process, bankruptcy will be less intimidating and will seem more feasible. With that in mind, we would like to show you our process of how to file bankruptcy in Duluth, MN.

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      How to Use A MN Bankruptcy Lawyer to Your Advantage

      Posted by Margaret Henehan on February 28

      We are all somewhat familiar with bankruptcy. We know it can be used to eliminate or reduce the majority of unsecured debts. But there are many ways beyond the obvious benefits that many of us don’t know about. Lets taking a closer look at some of the lesser-known benefits to filing bankruptcy and how a MN Bankruptcy Lawyer can help you with your overwhelming debt problems by taking a more proactive approach.

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      Discover The Secrets To Finding The Best MN Bankruptcy Lawyers

      Posted by Margaret Henehan on February 27

      We all have experienced the frustrating feeling you get when you pay too much for goods and services. There’s nothing more aggravating than shelling out big bucks for new technology only to see it at a fraction of the cost weeks later or paying an arm and a leg for an auto repair only to learn later that one of your friends got the same repair by a different auto shop much cheaper. The same frustrations apply to our legal and financial needs. It’s important to be certain we are investing in representation that can keep our best interests in mind especially when it comes to finding good MN Bankruptcy Lawyers.
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      Why Minnesotans Hire Our Bankruptcy Lawyers in Roseville MN

      Posted by Margaret Henehan on February 18

      Minnesota is truly unique in many ways! We are at the forefront of technology in many industries including science and medicine yet still rich in agriculture across many small rural communities.  In simpler times our communities were comprised of essential service providers and civil offices. Then we grew, prospered and began to expand. With that came opportunity and competition.

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      The Dangers of Filing in Minneapolis Without A Bankruptcy Lawyer

      Posted by Margaret Henehan on February 4

      If you haven’t been living under a rock for the last several years I’m sure I don’t need to explain to you how much DIY information we have available to us online. It’s everywhere! We’ve all used Google or YouTube before to figure out how to do something that we had no idea how to do in the first place. It feels good to accomplish things on our own. However, as good as it might feel it’s just as good to know our limitations. Especially when it comes to filing bankruptcy. Sure, there are several informational guides that outline the process online, but in order to avoid any complications you’ll always be a lot better off and happier working with an experienced and professional Minneapolis Bankruptcy Lawyer. Here’s why:

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      Why You Need to Talk to Our MN Bankruptcy Lawyers Now Not Later

      Posted by Margaret Henehan on January 30

      Many people continue to struggle for years with overwhelming debt because of the negative stigma surrounding Bankruptcy. At Kain & Scott our MN Bankruptcy Lawyers speak with clients every day that have one regret - they wish they would have filed sooner!

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      How to Find, Qualify and Get a Good MN Bankruptcy Lawyer Online

      Posted by Margaret Henehan on January 13

      For many of us one of the most difficult aspects of ending an overwhelming debt problem is knowing where to begin. If you use an internet search for Minnesota Bankruptcy Lawyers, you will find page after page on the internet of lawyers offering debtors the help that they need. Sometimes these lawyers can provide the traction you need to get your finances back on track, but how can you truly rest assured that you’ve found a good lawyer without taking a complete shot in the dark?

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      How To Rebuild Your Credit After Filing Bankruptcy In Minneapolis

      Posted by Margaret Henehan on December 28

      Here at Kain & Scott our professional, kind and helpful team of Minneapolis Bankruptcy Lawyers are truly honored to help each and every one of our clients get their lives back. Our client satisfaction and peace of mind is our top priority which is why we strive to continuously build upon our reputation as the nicest (most kind and helpful) Bankruptcy Law Firm in Minneapolis and the greater Twin Cities area. We know that the Bankruptcy Process doesn’t end with filing your case, so here’s some helpful information to give you a better understanding of how to begin rebuilding your credit score after you’ve received your discharge.

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      The Residency Requirements for Filing Bankruptcy in MN

      Posted by Margaret Henehan on November 8

      Bankruptcy is something many of us have thought about during our most difficult financial hardships. It is a wonderful tool designed specifically to help people with money problems gain the financial foothold they need to begin recovery. There are those who would exploit this legislation however which has led to a number of revisions in the bankruptcy code over the last several years. The most notable updates to the bankruptcy code in recent date came in 2005 which not only made the process more difficult to abuse but also more difficult to qualify for to those who truly need the financial help and recovery. We will be examining the rules surrounding residency and their purpose so that you may understand how this applies to your specific case. It is always best to consult with experienced MN Bankruptcy Lawyers to be sure your individual circumstances are address which our friendly staff would be happy to do for you but first let’s get started with the basics of how residency affects filing bankruptcy in Minnesota.

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      5 Major Components of Chapter 13 Bankruptcy In Roseville

      Posted by Margaret Henehan on November 7

      The decision to file bankruptcy can be a difficult one and after the process of reviewing your finances and goals you will need to determine which type of bankruptcy is right for you. While chapter 7 bankruptcy completely eliminates the majority of our debts it is not always the best option for all of us. Some of us may not be able to meet the requirements to file chapter 7 bankruptcy and in these instances Chapter 13 can be an extremely effective tool for recovering from financial difficulty and regaining control over debts and obligations. Our staff of experienced Roseville MN Bankruptcy Attorneys are able to determine which type of bankruptcy is right for you and it is important you are aware that you have options. We will be discussing the steps involved with a chapter 13 bankruptcy so that you may familiarize yourself with the process and consider if a chapter 13 bankruptcy makes sense for you and your future.

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      A Closer Look At The Complexities Of Filing Bankruptcy

      Posted by Margaret Henehan on October 5

      Bankruptcy is an outstanding tool for restructuring your debts and getting out from under financial hardship but can be very difficult to do on your own.  Many people who file cases on their own, without an attorney (“pro se” filers) abandon the bankruptcy process part-way through filing because of the complexities and requirements.  It can be very difficult and a lot of work for an individual to tackle on their own, that’s why at Kain & Scott we advise working with a professional such as one of our experienced bankruptcy experts.  Let’s take a look at some of the more difficult and complex aspects Filing Bankruptcy in Minnesota!

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      How To Check, Rebuild & Clean Up Your Credit After Bankruptcy

      Posted by Margaret Henehan on September 29

      Credit reporting is big business. Bigger than it's ever been in years past. There are mobile apps to track your credit score, credit cards designed to provide you with a free credit score every month and agencies you can hire specifically to help re-build your credit score. All these businesses that have popped up in the last few years only prove to us how important your credit really score is.

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      How To Get Housing After Bankruptcy

      Posted by Margaret Henehan on September 27

      One of my clients largest concerns is what will the future look like after bankruptcy. How will my credit be affected? Will I be able to get lending again? Will I be able to buy a car? Will I be able to buy a house? This blog will address renting and buying a house after filing a bankruptcy.

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      Why People Don't Regret Filing With Our Roseville MN Bankruptcy Lawyers

      Posted by Margaret Henehan on August 9

      I cannot stress enough that at Kain & Scott our Roseville MN Bankruptcy Lawyers have never had a client come back to and tell us that they regretted Filing Bankruptcy. No one at our firm in Roseville have ever heard that… from anyone. Filing Bankruptcy is an important decision. One that you will probably spend a good amount of time researching and thinking through carefully. However, even so... We've still never heard of anyone regretting their decision and here's why: 

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      9 Bankruptcy Lawyers MN Debtors Stories most Can Relate To

      Posted by Margaret Henehan on July 27

      Did you know that all of my clients are Minnesotans like yourself? Live in Central Minnesota or the Twin Cities? Work hard to pay their bills on time every month? It's true. In almost all cases the actions of my clients wasn't the reason they've gotten into such a financial mess. None of them planned to be meeting with a MN Bankruptcy Lawyer to File Bankruptcy. But there is one thing they all have in common - they want to take control of their finances again and get their life back. Each year my colleagues and I help hundreds of Minnesotan Debtors just like you get their lives back. In this blog i'm going to share with you a few stories of our past clients. Most likely by the end of it you'll realize that your not alone. 

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      How To File Bankruptcy In Minnesota And Get It Done In 8 Easy Steps

      Posted by Margaret Henehan on June 24

      There comes a point when your debt is so deep that it feels like you just can’t stay above water anymore and bankruptcy might be the only way to stay afloat. However, accepting that you might need to File Bankruptcy for relief is only the first step. Once you’re ready to take advantage of the many benefits Bankruptcy has to offer, next it’ll be in your best interest to take some time to learn the basics of Bankruptcy, it's process and how to file. The process is fairly simple but just like any other legal process it’s very important that your case is handled properly. Here’s how to File Bankruptcy in Minnesota.

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      How Our MN Bankruptcy Lawyers Use Homestead Exemptions To Protect You

      Posted by Margaret Henehan on June 23

      The most important aspect of filing bankruptcy is your exemptions. Exemptions are the laws that protect your property from being seized by the court and liquidated to pay your creditors. Having your MN Bankruptcy Lawyer understand what property you own and the laws in place to protect it is critical. If you don’t disclose your property and its value correctly, then your lawyer will not be able to analyze your case properly, and it could have negative consequences such as losing property or having to pay into the court to keep property.

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      The New Payday Loan Regulations MN Bankruptcy Attorneys Are Talking About

      Posted by Margaret Henehan on June 17

      Payday loans have been in the news over the last week and prevalent in conversation among the MN Bankruptcy Attorneys at Kain & Scott. The Consumer Financial Protection Bureau has come out with a proposal to target payday loan lenders that trap consumers in long term debt. Payday loans are short term, high interest loans usually for less than $500 dollars that are paid back with your next paycheck. As internet payday lending has expanded so have the interest rates and fees. I often work with clients who have gotten into the cycle of payday lending.

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      How Will Filing Bankruptcy In Minneapolis Affect My Joint Debts?

      Posted by Margaret Henehan on May 29

      I often meet with people who are married and they are unsure if they can file a bankruptcy individually or if they must file a bankruptcy with their spouse. When you are married you have a choice. You can file individually or you can file jointly. Your choice will depend on your specific situation. The first thing your and your Minneapolis Bankruptcy Attorney will want to look at is you and your spouse’s credit report to see if you are both jointly liable on the debt.

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      What Are The Consumer Bankruptcy Options in Maple Grove MN?

      Posted by Margaret Henehan on May 6

      When you are thinking about filing a bankruptcy, consumers have two choices. To file a chapter 7 bankruptcy or a chapter 13 bankruptcy. There are other types of bankruptcies that you might hear about in the news, such as the bankruptcies Donald Trump has filed. Trump filed bankruptcy on his businesses and not on his personal debt. He filed a chapter 11 bankruptcy, a bankruptcy that is done to deal with business debt. For this, we will stick to discussing chapter 7 and chapter 13 bankruptcy. 

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      How Hard Can it Be to File w/o My Maple Grove MN Bankruptcy Attorneys?

      Posted by Margaret Henehan on April 8

      Do i really need my Maple Grove MN Bankruptcy Attorneys? As someone who used to work with low income clients at a non-profit, I came across this question a lot. With the rise of "do it yourself legal”, online more and more people think about this question when they are looking to get divorced, write a will and even file bankruptcy. When someone chooses to go forward without hiring an attorney, they are called “pro se.” However, bankruptcy is different from other areas of law in a lot of respects, it has its own court system and its own set of laws. This makes even attorneys that practice in other areas of law leery of stepping foot into bankruptcy court. 

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