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?

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.

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.

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.

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!

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.

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.

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: 

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. 

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.

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.

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.

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.

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. 

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.