The MN Bankruptcy Blog | Learn the Bankruptcy Process & More

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.

(Video) The Simple Differences Between Chapter 7 and 13 Bankruptcy

Posted by Wesley Scott on August 23

Wouldn’t it be nice to understand the simple differences between a Chapter 7 and Chapter 13 bankruptcy? Like, give it to me in plain English so I can actually understand my choices, right? So many lawyers talk in legalisms that are hard for most of us to understand. So here are the basic differences in simple terms...

5 Steps for Life after Filing for Bankruptcy

Posted by Wesley Scott on August 21

Many individuals are worried about the potential damage that can be done to their credit score after bankruptcy. Don’t get overwhelmed; in fact, you can rest assured knowing that filing for bankruptcy is an initial step in the right direction for rebuilding your score. While you should be responsible with what you are spending post-bankruptcy, don’t be afraid to start using credit again. Responsibly using credit cards is a great way to get back on track, and begin building up your credit. Know your limits, and start small.

How Does Debt Consolidation Work & When Should I Consolidate?

Posted by Wesley Scott on August 19

In some situations, debt consolidation may be an advisable solution. On the other hand, there are situations when debt consolidation is inadvisable and bankruptcy is the better alternative.

(Video) What Happens To Your Credit After Chapter 7 Bankruptcy?

Posted by Wesley Scott on August 18

What happens to your credit after you file Chapter 7 bankruptcy is not what you think. Most of our guests are completely shocked to find out that Chapter 7 bankruptcy does not have the negative repercussions on your credit you think. We know, there is a stigma associated with filing bankruptcy. Have you ever wondered why or who really benefits if there is a stigma associated with filing bankruptcy?

Debt Help You Can Trust

Posted by Wesley Scott on August 17

Life is stressful enough without overwhelming debt. When overwhelming debt is part of your life, normal life issues become amplified and much harder to handle. Creditors are breathing down your neck, your 7-year old wants to join a dance studio, gas prices keep rising and you are continually stressed because you can’t make your payments and keep everyone satisfied. They say money can’t buy happiness, but why does having no money cause so many horrible thoughts and feelings?

How To Find The Best Bankruptcy Attorneys in Eden Prairie, MN

Posted by Wesley Scott on August 13

Are you tired of creditors pulling the strings on your finances? Do you wish you could cut the strings from your debt and improve your credit score, but don’t know how? Puppet shows are a universal children’s favorite: the bright lights, colorful scenery, and whimsical puppets delight audiences in Minnesota and beyond.

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5 Things To look For In Your Minnesota Bankruptcy Lawyer

Posted by Wesley Scott on August 9

I know, it’s hard to know who to trust in a field full of companies peddling debt solution services and lawyers offering bankruptcies. When you start to research who to hire it is easy to get confused and overwhelmed. However, what if I told you there are about 5 criteria you should always consider when hiring a Bankruptcy Lawyer? It’s true, choosing a bankruptcy lawyer to hire in Minnesota is easy as looking at 5 criteria.

5 Things To Avoid When Hiring A Bankruptcy Lawyer in Minnesota

Posted by Wesley Scott on August 4

When a Minnesota resident is looking into Bankruptcy, you have a wide variety of choices amongst lawyers and bankruptcy preparer vendors. The spectrum of services provided range dramatically. Remember only Lawyers can dispense legal advice. So calling the paralegal service on a park bench is probably not the best move. They cannot give you ANY legal advice. Why? They are not lawyers. If they do give you legal advice without a law license, they are committing a crime- the unauthorized practice of law.

What Does Bankruptcy Mean for My Future?

Posted by Wesley Scott on July 31

There are many misconceptions and myths about filing bankruptcy. The biggest bankruptcy myth is that you will lose everything you own if you file for bankruptcy relief. Another popular bankruptcy myth is that you will never recover your good credit rating and never be able to obtain a loan after filing a bankruptcy. While there may be some truth intermingled with the bankruptcy misconceptions that clutter the internet, the fact is that filing bankruptcy does have both benefits and a few temporary disadvantages. Wondering what bankruptcy means for your future is a valid concern that many clients have when first consulting a bankruptcy attorney. It is with the help of an experienced bankruptcy attorney that many people find the answer to their question, “What does bankruptcy mean for my future?”

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What is a Bankruptcy Discharge and How Will it Help Me Out of Debt?

Posted by Wesley Scott on July 30

Most clients ask similar questions during a bankruptcy consultation. One familiar question that I am asked is “What is a bankruptcy discharge?” The immediate follow-up question is “How can it help with my debts?” Before I answer either of these questions, I tell my clients that a bankruptcy discharge is the ultimate goal for any debtor in a bankruptcy case and it is my job as an attorney to assist you through the bankruptcy process to achieve that goal. Below is a brief discussion that answers these two questions more thoroughly.

These Types of Bankruptcy Can Help You Find Financial Relief

Posted by Wesley Scott on July 28

When debts turn into a vicious cycle that threatens to never end, filing for bankruptcy can be a wise and prudent choice to move toward financial freedom. There are multiple types of bankruptcy that suit different situations. The best choice for you will mainly depend on your debts, assets and current income.

A True Story Of One Woodbury, MN Couple Who Filed Chapter 7 And Won!

Posted by Wesley Scott on July 24

Did you ever think it was possible to win at filing chapter 7 bankruptcy? It is. Recently, one couple in Woodbury, Minnesota found out how. It doesn’t matter who you are, life is humbling. This was especially true for one Woodbury couple who we recently met with.

What Debt Consolidation Programs Conveniently Forget to Tell You

Posted by Wesley Scott on July 19

When you meet or discuss with a debt consolidation company they may not explain the “fine print” associated with their programs. At first glance debt consolidation programs seem appealing but before you sign the dotted line, make sure you know the fine details of the program you are signing up for. Here is a summary of details some debt consolidation companies try to gloss over to make their programs more appealing:

3 Steps to Answer the Question, "Should I File Bankruptcy?"

Posted by Wesley Scott on July 18

As a bankruptcy attorney, I know that individuals and couples go through several stages when they are answering the question “Should I file bankruptcy?” While most consumers follow a similar process when tackling this question, not every person will follow the same exact path to decide whether or not bankruptcy is right for them. This is because each person’s or couple’s financial situation is unique; however, through years of experience and by helping thousands of clients through the bankruptcy process, my partner and I have learned that most debtors go through at least three stages before deciding if they should file bankruptcy. While not all three steps are necessary, and many may skip to the last and most important step, there is some value in each of the following steps.

Conquoring The Quest For The Best Bankruptcy Lawyer in Roseville, MN

Posted by Wesley Scott on July 10

Has your family outgrown your current house? Is your car in need of major repairs? Have you been turned down for a new home, car, or other financing because of your credit? If you’re in debt, you’re not alone: as of 2016, the United States had $764 billion in credit card debt, $8.63 trillion in mortgage debt, and $1.16 trillion in auto loan debt. These staggering numbers show that the average American is drowning in debt.

Should I File Bankruptcy In MN?

Posted by Wesley Scott on July 7

If you’re asking yourself this question, you may feel like you’re literally drowning in debt. You struggle to keep your head above water, but in fact, you’re barely staying afloat. If you’re feeling this bogged down with stress over debt, it’s time to take action. Consider the many benefits of filing a Chapter 7 bankruptcy. Many people dread the very thought of filing for bankruptcy, when in fact it is a positive way out to get a fresh start. Do not feel like a failure; you’re doing the right thing.