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World’s Shortest Blog: How to Start the Chapter 7/13 Bankruptcy Process in Minnesota?
Schedule a Free Strategy session on how to resolve a debt problem for good.
Posted by Wesley Scott on July 5
Schedule a Free Strategy session on how to resolve a debt problem for good.
Posted by Wesley Scott on July 1
I often reflect on what it would be like for prospects researching which Minnesota bankruptcy law firm to use. There are many claiming to be the best and hey, choose me, choose me! It leaves a prospect to wonder who they should reach out to in the sea of bankruptcy attorneys.
Posted by Wesley Scott on June 30
The prospect of having to go to court can be intimidating and often deters people from filing for bankruptcy, despite the fact that it can bring them tremendous relief from their creditors. Just the thought of having to appear in front of a judge to explain one’s situation and request relief from bankruptcy court from one’s personal debts can seem like a daunting endeavor. The good news is that this scenario is extremely rare, and nowadays, a person can file for bankruptcy, and receive a discharge of their debts, without even having to physically set foot in a courtroom!
Posted by Wesley Scott on June 29
I can recall years ago attending a Chapter 7 Bankruptcy hearing. These hearings are like cattle calls where there are large numbers of debtors waiting to appear before a Chapter 7 Trustee who is responsible for administering your Chapter 7 Bankruptcy case. Typically, 4-6 hearings are held each half hour.
Posted by Wesley Scott on June 23
You don’t have to reflect on life very long to realize your best plans don’t always work out the way you intended. Who among us wants to be let go from a high paying job? Who among us would love for our business to be an epic fail right from the start? Who among us wants to get married hoping your spouse will turn out to be an epic turd?
Posted by Wesley Scott on June 15
Filing either a chapter 7 or chapter 13 bankruptcy case is a great option for many Minnesotans who are struggling to pay their debts.
Posted by Wesley Scott on June 9
Filing a personal bankruptcy case is a great way for Minnesotans to manage, and eliminate, large amounts of debt. When a person successfully completes a chapter 7 or chapter 13 bankruptcy case, they receive a discharge from the bankruptcy court, legally forgiving all of their debts, with certain limited exceptions (ie most types of tax debt, child support, student loans, and etc.)
Posted by Wesley Scott on June 3
Bankruptcy is a powerful tool that enables thousands of Minnesotans to deal with, and eliminate, overwhelming debt, every year. In exchange for the debtor (what you call a person who files for bankruptcy) receiving this tremendous benefit, the bankruptcy court has an obligation to make sure all creditors are treated fairly.
Posted by Wesley Scott on May 26
In a chapter 13 bankruptcy case, the debtor (the legal term for a person who files for bankruptcy) pays all of their disposable income, each month, towards their debts in a three to five year repayment plan.
Posted by Wesley Scott on May 22
A person who files a chapter 13 bankruptcy case is required to pay as much as they can afford towards their debts in a three-to-five year repayment plan. After successfully completing their plan, the person who filed for bankruptcy (aka the “debtor”) receives a discharge wiping out their remaining debts, with certain exceptions (e.g. student loans and child support). There are a number of factors that determine exactly how much the debtor will have to pay, each month, in order for the bankruptcy court to “confirm,” or officially approve, their repayment plan and allow the debtor to receive a discharge.
Posted by Wesley Scott on May 19
Filing for chapter 7 bankruptcy is a great option for many Minnesotans who are struggling to manage their debts. People who earn less than the median income, based on their household size, are permitted to file a chapter 7 bankruptcy case. The beauty of a chapter 7 case is that the debtor (what you call a person who files for bankruptcy) is not required to make payments to their creditors like they do in a chapter 13 repayment plan. The catch is that in some case, the debtor may have to turn over certain property for the trustee to liquidate (sell to convert to cash) in order to pay their creditors.
Posted by Wesley Scott on May 17
When a person files a chapter 7 or chapter 13 bankruptcy case, they are asking the bankruptcy court for relief from their debts. In a chapter 7 bankruptcy case, a person is completely relieved from most of types of debts by receiving a legal “discharge” of their debt, typically within 3 to 4 months after their case is filed, without the need for making any payments to their creditors. In most chapter 7 cases, the “debtor” (what you call a person who files for bankruptcy) is able to keep most, if not all, of their property in exchange for receiving their discharge. In a chapter 13 case, the debtor does not have to give up any property, but must make regular payments, each month, towards their debts, in a three to five year repayment plan, after which they receive a discharge of most, if not all, of their remaining debts.
Posted by Wesley Scott on May 13
Posted by Wesley Scott on April 27
How do you start the process of choosing the best Minneapolis bankruptcy law firm? This is an excellent question. Whenever I have someone ask me if I happen to know a good bankruptcy lawyer in Denver, Colorado, I say no but I can help you choose an awesome lawyer.
Posted by Wesley Scott on April 19
There a number of life circumstances that cause people to file bankruptcy in Minnesota. Among these reasons are job loss, reduction in income, serious illness, and other unforeseen circumstances that leave people in a financial situation wherein they are unable to pay their debts. Many Minnesotans struggle with an addictions such as gambling, drinking, substance abuse, and compulsive spending. Many of these same people would be tremendously benefited by filing for chapter 13 or chapter 7 bankruptcy but fail to do so due to fear or shame for having their addictions brought to light when they file their bankruptcy case. This should not be so.
Posted by Wesley Scott on April 13
A chapter 13 bankruptcy is a great way for Minnesotans struggling with their finances to manage their debts. In a chapter 13 bankruptcy case the debtor (what you call a person who files for bankruptcy) pays as much as they can afford, each month, in a 3 to 5 year repayment plan, after which they receive a discharge of their remaining debts.
Schedule a Free Strategy session on how to resolve a debt problem for good.
I often reflect on what it would be like for prospects researching which Minnesota bankruptcy law...
The prospect of having to go to court can be intimidating and often deters people from filing for...
I can recall years ago attending a Chapter 7 Bankruptcy hearing. These hearings are like cattle...
You don’t have to reflect on life very long to realize your best plans don’t always work out the...
Filing either a chapter 7 or chapter 13 bankruptcy case is a great option for many Minnesotans who...
Filing a personal bankruptcy case is a great way for Minnesotans to manage, and eliminate, large...
Bankruptcy is a powerful tool that enables thousands of Minnesotans to deal with, and eliminate,...
In a chapter 13 bankruptcy case, the debtor (the legal term for a person who files for bankruptcy)...
A person who files a chapter 13 bankruptcy case is required to pay as much as they can afford...
Filing for chapter 7 bankruptcy is a great option for many Minnesotans who are struggling to manage...
When a person files a chapter 7 or chapter 13 bankruptcy case, they are asking the bankruptcy court...
How do you start the process of choosing the best Minneapolis bankruptcy law firm? This is an...
There a number of life circumstances that cause people to file bankruptcy in Minnesota. Among these...
A chapter 13 bankruptcy is a great way for Minnesotans struggling with their finances to manage...
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