The preparation of bankruptcy petitions, schedules and statements, whether for a chapter 7 or a chapter 13 case involves an analysis of how much income is earned by the bankruptcy debtor or debtors.  It’s a factor in the determination of monthly income (the means test) and it’s a factor in scheduling an accurate budget in the bankruptcy schedules.

The CARES Act passed last week by Congress authorized stimulus checks based on income for most Americans.

One leading reason for people to consider filing a bankruptcy case is becoming a defendant in a lawsuit.  In many cases, being served with a lawsuit is the “last straw” that makes people who have been trying to fight off their financial problems change course and decide to file a bankruptcy case.

Every single client has unique circumstances that brings them into our office. We fully understand that bankruptcy is not what people want to be doing and for that specific reasoning, they don’t want to be in our offices. Please make note, we will never judge you or your circumstances that brought you to us—we will simply help you in the most empathetic and professional way possible.

Whether it is after you have received a discharge in your bankruptcy or you are looking for ways to boost your credit score, you have come to the right place! Not only does Kain & Scott specialize in bankruptcy, we also have an in-office credit repair specialist that will make sure your credit report is clear and free of creditors! This is a program we offer free of charge after you receive your bankruptcy discharge.

On the surface, a Chapter 13 bankruptcy can be kind of a complex configuration of numbers and rules to understand. Our team at Kain & Scott is dedicated to complete transparency and communication with our clients—we want you to understand the ebb and flow of your chapter 13 bankruptcy case!

If you need to file bankruptcy there is a certain way you would like to be treated by the professional you hire. You would like to be treated with kindness, helpfulness, professionalism, and yes, exceptional customer service. There is one bankruptcy law firm in Minnesota who delivers on these values; Kain & Scott.  These just happen to be the four values Kain & Scott lives by. Those values are the prism for how we hire employees, grade each other, and ultimately the test to see if you can continue to work at Kain & Scott.

Just because one event in your life causes you to seek relief in bankruptcy that doesn’t mean it couldn’t happen again. Think about this. You start a business when you are 34. The business ends miserably and you discharge your liability on a large commercial lease, trade payables, and a bank loan in a bankruptcy. Next thing you know you are 48 years old, you suffer a heart attack and you were in the middle of switching jobs and got caught with no health insurance because the Cobra premium was insane and you could not afford it. What do medical bills from a heart attack look like without insurance? I bet the medical bills total 50k or more.

Every once in a while I get asked if there is such a thing as a medical bankruptcy? Well, not really. I mean yes, you can file bankruptcy on medical bills, but there is no “medical bankruptcy” in the sense that there is one particular bankruptcy that handles only medical bills and nothing else.

Minnesotans who are suffering from debt problems go to Minnesota’s largest bankruptcy website: www.kainscott.com. When I am looking for information on a subject, I want the best information I can find. I don’t want to spend days skipping around websites trying to cobble together good information on bankruptcy in Minnesota. If you live in Minnesota and you are contemplating filing a bankruptcy in Minnesota, this is the website you want to go to.

All across Minnesota, there are tens of thousands of businesses that are suffering because of Coronavirus. Many of these business owners will face bankruptcy through no fault of their own. Who saw a pandemic coming 6 months ago? Even if you could have predicted the pandemic, what would you have done differently? Would it really have changed the course of events in a meaningful way?

There are certain services that are considered essential even during a government ordered Coronavirus shelter in place order/lock down. Getting relief from your debts is one of them. Every Kain & Scott employee is consider an essential worker and will be in the trenches helping good Minnesotans just like you get out from under crippling debt.

Life is strange and very humbling. For so many of us, just a month ago we were riding stock market highs, good incomes, and plenty of toilet paper. And then, all of sudden someone shut the lights off and everything went dark. The Coronavirus doesn’t care about the economy or your health. It destroys anything in its path. What are Minnesotans to do who have never missed a monthly payment in their life who all of sudden have no income?

I am an information junkie. If I am feeling a bit uneasy about a subject I want the most clear and understandable information on the subject so I can get clarity on, and fast. One of the wonderful things about www.lifebacklaw.com is it is written so that an eighth grader can understand it. That is exactly how I want my information on a subject that is a bit foreign to me. I want it so that even an eighth grader can understand it.

I totally understand the feeling of doom. We people who suffer from high anxiety are all too familiar with that feeling. Don’t ever try to rationalize anxiety because you cannot. If someone says they are afraid of a carrot, trust them, they are afraid of a carrot. And then, add anxiety to bankruptcy, and you get lift off. So many people view bankruptcy as a failure, the end to your credit, and really embarrassing. I totally understand these feelings. We know how you feel. Our formers guests all felt the same way. But what they found, is just the opposite is true.

This virus has certainly caused tension and panic, which is very clear. However, Kain & Scott will remain open to answer any questions and to still continue to file Chapter 7 and Chapter 13 bankruptcies. We have had some concerns from current and future clients regarding filing a new case and what will happen with current ones. Below, we will provide some updates and continual assurance that we are here for you during this stressful time!