The humility of being alive. Businesses fail, incomes drop, medical problems occur, relationships break up and yes we all make bad financial decisions. When you need to file Chapter 7 Bankruptcy watch out for those people who try to prey on your weakness.

People often want to know if they qualify to file Chapter 7 Bankruptcy in Rochester, Minnesota.  The answer hinges on the answer to a couple of questions. For example, the Bankruptcy Code precludes people from filing Chapter 7 Bankruptcy (and receiving a discharge) if they have previously filed Chapter 7 or 13 Bankruptcy and received a bankruptcy discharge in a certain period of time.

One of our goals here at Kain & Scott is to be as accessible to as many Minnesotans as possible. We do this in a variety of difference ways. We offer alternatives to in-person appointments like over-the-phone, Skype, or Facetime.

There are a lot of people in St Paul, Minnesota who are unfortunately suffering from debt needlessly. When you reach that point where you can no longer take it, you start Googling the best St. Paul, MN bankruptcy law firms. Here is what you will find.

I like to remember what Eleanor Roosevelt used to say—do something that scares you every day. I like this advice but it is easier said than done. This is especially true when it comes to the “b” word. Who dreams of filing Chapter 7 Bankruptcy? No one? But at the same time—who dreams of having a root canal or a divorce, or a failed business, or hey your job just went overseas, do you mind? If life were perfect we would all be robots and things would be tediously boring.

These are words we hear all the time from residents of St. Paul, Minnesota who file bankruptcy, get rid of their debt and go through Kain & Scott’s FREE 90-Day Credit Repair Program! You would think people would regret filing bankruptcy right? You would be 100% wrong! People not only don’t regret filing bankruptcy, they really regret waiting so long to file bankruptcy!

People who have never had the burden of overwhelming debt love to spout clichés like “money can’t buy happiness” in an attempt to “comfort” their friends and family who are going through financial hardships.

It is uncommon but not unheard of –being denied a bankruptcy discharge. Most clients will never have to worry about discharge denial. A more everyday problem for filers tends to be worrying about non-dischargeable debts which is an altogether different beast.

A very real concern of our clients and of debtors in general is the possibility of a wage garnishment. This is when a creditor begins collections on a judgment against a debtor by withholding up to (but never more than) 25% of the debtor’s paycheck to pay off their debt.

Some of the most important documents that you will get from us will be the sign-up packet received after your initial consultation. If one of our attorney’s recommends bankruptcy for your situation, they will provide you with all of the documents you will need to 1) retain our services and 2) prepare for your second meeting with us: the review & sign.

Not many people know about a government sponsored debt consolidation plan available to most Americans. If people who are now laboring through traditional debt consolidation plans knew about this government sponsored debt consolidation plan, they would cry tears of joy and here is why.

How does filing Chapter 7 Bankruptcy affect my future credit? This is the number #1 concern people have filing bankruptcy in St. Paul, MN and across the state of Minnesota. The myth—you file Chapter 7 Bankruptcy and you ruin your credit for life and beyond. Why is this a myth? Well because it is not true and because what you think happens does not. In fact, it is just the opposite.

Some clients feel uncomfortable or embarrassed talking to Kain & Scott team members other than their attorney. We understand this hesitation. This process is a stressful time and speaking directly with your attorney can help to alleviate some of that tension. But we want you to know that our whole team can help to offer that reassurance as well!

Chances are if you have a secured debt listed on your bankruptcy (i.e. vehicle, second or third mortgage) you will be sent what is called a reaffirmation agreement from the lender. What this is, essentially, is a way for creditors to protect themselves from a total loss. Theoretically, you could simply stop making payments, surrender the collateral, and then have that debt discharged through your bankruptcy –a definite hit to the creditor.

Don’t get me wrong, filing Chapter 7 Bankruptcy is going to be the best thing you have ever done. Solving a debt problem for good feels amazing. So what is the thing you need to look out for? Unfortunately, there are people who prey on people who are in debt. They play on your fears and tug at your heart strings.

Knowing just what to expect can go a long way towards easing any nerves that come with meeting a bankruptcy attorney. If you have never filed for bankruptcy before, you may not have a single clue as to what a consultation will entail.