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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