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.

 

    Wesley Scott

    Wesley Scott
    I love being a Minnesota bankruptcy attorney because it allows me to give people hope that, together, we can get their lives back. People call us because of business failure (many businesses fail, that is a fact of life), income drop (bad economy or otherwise), divorce (happens to many), medical problems (how can you help that?), and bad financial decisions (we have all made them!). I understand the financial pressures my clients face because I experienced many of these same pressures growing up. I know that most of my clients end up in debt through no fault of their own. I became a bankruptcy attorney to give these people the help and support they need in this time of trouble.
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    Recent Posts

    Filing Bankruptcy For Yourself? You Have a Fool For A Client

    Posted by Wesley Scott on May 9

    When I was in law school, they always told us the lawyer who tries to represent herself has a fool for a client. Same holds true for non-lawyers trying to represent themselves—especially in a mine laden area of law like bankruptcy. Let me ask you a question--- do you think a heart surgeon would do heart surgery on themselves? Of course not. Do you think a non-heart surgeon would do heart surgery on themselves? Of course not.

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    What is the Chapter 7 Bankruptcy Estate

    Posted by Wesley Scott on May 8

    The Bankruptcy Code provides that filing bankruptcy automatically creates a new legal entity called the bankruptcy “estate.”  The estate separates what property is owned by the individual after bankruptcy from what property is to be sold to pay creditors.  

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    Why Minnesotans Should Never Represent Themselves In Bankruptcy

    Posted by Wesley Scott on May 7

    When I was younger, I remember thinking to myself how much can I save if I do this myself? Sometimes, it made sense and often times it was a major mistake. For example, I remember one time thinking I can change oil in my go-cart right? Wrong! I am not making this up. I was in the process of changing oil on the go-cart when I turned the oil plug just a little too tight. I ended up stripping the oil plug threads. This little snafu cost me several hundred dollars. An oil change would have cost me 20-25 bucks max.

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    How To Choose Minnesota's Best Bankruptcy Law Firm

    Posted by Wesley Scott on May 6

    When I hire professionals, I want the professionals who are not necessarily the “cheapest”, but I want to hire professionals that 1) know what they are doing, 2) treat me like a rock star, and 3) I never have communication problems with. How hard is this to do with bankruptcy lawyers in Minnesota? Harder than you think. The Google reviews are littered with reviews of either bad lawyering or bad communication from the lawyer and his/her staff. This is not right.

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    Should I File Bankruptcy or Tough It Out?

    Posted by Wesley Scott on May 5

    I feel terrible for people suffering from overwhelming debt. Every single one of us wants to pay our bills. I have never met a single person who did not want to pay their bills. Paying our bills is not the question. It is the lack of an ability to pay our bills that we are really discussing. And what it all comes down to is this very relevant question: Should you protect your family over your creditors or not?

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    What Is Life Like After Bankruptcy?

    Posted by Wesley Scott on May 4

    In a word? Wonderful! Why? How can that be? What about my credit? What about my assets in bankruptcy? What about my pride? What if monkeys fly out of my butt? The reason I raise all these questions for you is I have high anxiety. There would be a never ending stream of questions and “what ifs” if I were considering filing bankruptcy. So, we totally understand how you feel right now. All of our current and former clients felt the same way. But what they found is that life on the other side of bankruptcy is wonderful.

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    What to avoid when filing bankruptcy in MN

    Posted by Wesley Scott on May 3

    I remember hiring a lawyer one time. He was juggling many cases. We needed him to represent us in a legal matter that was not overly complicated but we did not have time to do it ourselves. Besides, we learned in law school, that a client who represents themselves has a fool for a client. It is hard to be emotionally detached from a matter and hand the legal matter yourself. That is why even lawyers hire lawyers to represent them.

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    Chapter 7 Bankruptcy in Duluth, MN

    Posted by Wesley Scott on May 2

    A Chapter 7 Bankruptcy is sometimes referred to as a “fresh start” bankruptcy. It’s like hitting the reset button and starting over again or taking a mulligan in golf. It is a wonderful tool that can be used by residents in and around Duluth, MN to get rid of unwanted debt. Each year many Duluth residents opt to get their lives back quickly and are now living without overwhelming debt.

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    What to do if your lawyer messed up your bankruptcy

    Posted by Wesley Scott on May 1

    Unfortunately, we see situations like this all too frequently. We get people who call us up and say basically, can you help us with our bankruptcy? The attorney we hired goofed up and now will not call us back. You would be shocked at how many times Kain & Scott gets this type of phone call. I feel bad for these people but I also wonder, had these good people spent a few more minutes researching Minnesota bankruptcy attorneys, could they have found someone better?

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    Coronavirus, Debt And A New Start

    Posted by Wesley Scott on April 30

    Raise your hand if you have been affected in some way by the Coronavirus? That will be all of us. Now raise your hand if you have been financially devastated by the Coronavirus? That is a lot of us. Now, raise your hand if you wanted to be negatively financially impacted by the Coronavirus? Of course you did not.

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    Credit Unions and Cross-Collateralization With Vehicle Debt

    Posted by Wesley Scott on April 29

    Cross-collateralization is a common practice used by credit unions, where one piece of collateral—such as your vehicle—secures multiple loans. This means if you have a car loan and later take out a personal loan from the same credit union, your car could be used as collateral for both debts. As a result, even if you pay off your car loan, the credit union may still hold the title to your vehicle until all other loans are repaid.

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    Student Loans and the CARES Act

    Posted by Wesley Scott on April 28

    On March 27, 2020 the CARES Act was signed into law, which among many things, provided temporary student loan relief. This relief is only for federal student loan borrowers whose loans are held by the US Department of Education. This is an important point. Any private student loans are not affected by this Act, and continue to remain collectable.

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    What’s the deal with my credit score and credit report?

    Posted by Wesley Scott on April 27

    Your credit score is a number that measures how likely you are to repay loans on time. It essentially assesses the risk of an individual not being able to pay back that loan.

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    The Background Of Bankruptcy

    Posted by Wesley Scott on April 26

    The US Constitution authorizes Congress to enact uniform laws regarding bankruptcy. Congress created the Bankruptcy Code and the Federal Rules of Bankruptcy Procedure. The Code and Rules set forth the formal procedures and legal processes for individuals and entities experiencing debt.

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    How to file bankruptcy in Minnesota

    Posted by Wesley Scott on April 25

    Debt smothers the life out of you. Everything is dependent upon how much debt you have. Think about it, the kind of vehicle you drive, the kind of home you live in, and even the quality of food you eat is determined by the amount of debt you have. No wonder thousands of Minnesotans each year decide to get their lives back by ridding themselves of debt and repairing their credit using Kain & Scott’s FREE 90 Day Credit Repair Program.

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    How to summon the courage to file bankruptcy

    Posted by Wesley Scott on April 24

    I wonder about this question a lot. If you think it doesn’t take courage to file bankruptcy, you have never done it. My mom used to say that about raising children. She would say, “if you think raising children is easy, you have never done it.” My mom was right about that! Let me ask you a question. When you go to the doctor, and get a physical, do you like doing so? Of course not. We humans are private people and we would prefer not to be exposed. And yet we still go to the doctor. Why? Because we want to protect our health.

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