Have you ever heard of supposed “gurus” telling you to avoid bankruptcy? I laugh every time I hear of someone mention the name of a supposed “guru” who tells people this kind of non-sense. I mean how is easy is for someone else to tell you to avoid filing bankruptcy. Are they going to pay your bills? How many packages of ramen noodles do you have to eat before you say, you know what, I don’t give a damn what these “gurus” say. In fact, funny story. Some of these self-promoting gurus have filed bankruptcy themselves!

Some business people experiencing financial trouble, particularly those who operate service-based businesses, would like to use personal bankruptcy as a way of getting out of the financial hole without the need to close their business.

 We all want to pay back our debts. NO one is racking up a tab they do not ever intend to pay because they are planning to file for bankruptcy to “take care” of the debt. We want to be able to pay off our loans and bills but sometimes we find ourselves in a position where we just can’t. And that’s okay. That is what bankruptcy is for –a resource, a lifeline, for those who are struggling.

There is an endless amount of information on the internet. Both accurate and inaccurate about everything under the sun. Finding truthful, useful information about bankruptcy is not an easy task (or, let’s be honest, a particularly fun one either).

If you have made the courageous decision to file for bankruptcy, you are already stressed out. You have been pushed to your breaking point and have decided enough is enough –you are taking your life back.

With tax season is fast approaching. For many of us this means the exciting prospect of tax refunds giving your bank account a healthy boost. Many clients that we will see in the coming months will be forced to weigh their options about when to file bankruptcy and/or what filing bankruptcy will mean for their tax refunds or their tax debts.

Many of our guest feel isolated and helpless when they first walk through our doors. They have exhausted every avenue and it feels as if every door has been slammed shut in their face. We are their last resort, their last hope. What many do not realize is that Kain & Scott’s helpfulness and companionship does not end with your bankruptcy discharge or the closing of your case.

Contemplating filing a Chapter 7 or Chapter 13 Bankruptcy is gut wrenching. If you are a person with low anxiety, your anxiety level will even shock you during this kind of time. It is perfectly normal to feel afraid when you are contemplating bankruptcy and its effects (which by the way, are the opposite of what you think!).  The anxiety you suffer through when contemplating bankruptcy should be honored by the bankruptcy law firm you deal with.

Wouldn’t it be great if we had a FREE interactive bankruptcy tool which would allow you to determine a) should you file bankruptcy and b) should you file a Chapter 7 or Chapter 13 Bankruptcy? Surprise! We do have this available to you! If you go right now to www.kainscott.com you will find a FREE interactive tool which will help you decide a) should you consider filing bankruptcy, and if so, should you consider filing a Chapter 7 or Chapter 13 Bankruptcy?

You may wonder if there is any sort of protection afforded to you when you file for bankruptcy. Good news, there is! The bankruptcy code has a provision, 11 U.S. Code Section 362, that offers debtors relief from the endless communication and disturbances from creditors. This provision is known as the Automatic Stay. It is certainly one of the benefits of filing for bankruptcy.

For some reason, Rochester, MN has some issues with bankruptcy “professionals” located in and around Rochester, MN. Sometimes, these “professionals” are not even in Rochester, MN but they are located out of state. Recently, I was doing some research of my own and came across some interesting information. If you are looking to file Bankruptcy in Rochester, MN, and you are looking to hire a bankruptcy “professional” you should be aware of these two things. I know I would want to know both of these if I were searching for a bankruptcy professional in Rochester.

After filing for bankruptcy, many are frustrated to find that long after the fact when they are applying for home or auto loans a judgment pops up on their credit report. They are confused because this judgment was supposed to have been discharged through their bankruptcy.

Many people who live in or around Rochester, MN are considering bankruptcy right now. If you are considering bankruptcy, watch out for this one issue that trustee’s look for all the time. They watch to see if people who file bankruptcy pay family members money owed to them in advance of filing bankruptcy. What is the big deal, you say, if you pay your parents back 10k within a year prior to filing a Chapter 7 bankruptcy?  Well, it really isn’t a big deal to pay back your parents 10k. But this assumes you are not filing Chapter 7 Bankruptcy within a year of paying your mom and dad back.

When folks think about bankruptcy, they often think about a Chapter 7 Bankruptcy. A Chapter 7 Bankruptcy is often referred to as the “fresh start” bankruptcy. The idea is to eliminate your debt and start over fresh! Each year, thousands of Minnesotans hit the “reset” button we call Chapter 7 Bankruptcy and get their lives back. But, what really is a Chapter 7 Bankruptcy and how do I get started?

Meet Tony and Lisa. They were leading a middle class lifestyle for a long time. Tony was a 10^th grade history teacher and Lisa was an RN. They always made decent money and always were able to pay their bills on time. They would both admit they lived a great lifestyle. They lived in a 500k home, took trips often, and drove really expensive vehicles. Financially, life was really good.

Bankruptcy is an emotional and sensitive topic. When Minnesota professionals refer their guests to a Minnesota based law firm, they want the law firm to take extraordinary care of their clients they are referring. As a lawyer, I do not find it funny to refer a client of mine to a company only to find out the client was treated poorly by the company. In fact, at Kain & Scott, we ONLY refer our guests to companies and lawyers who promise to treat our guests well. If they fail to, they come off our list.