I am high anxiety. That is the way my brain is wired. I can’t help it and neither can anyone else with anxiety for that matter. Most of our MN Bankruptcy Attorneys guests who face overwhelming debt are stressed beyond belief and struggle to pay debt for a really long time. And then, one day, you sit and you think- what am I doing?

You have summoned the courage and the anxiety to face your debts. You are proud of yourself for facing your fear and challenging yourself to let go long enough to go through the bankruptcy process and get rid of your debt. And you did it! I can’t tell you how proud you should be of yourself for shedding your debt and moving on with your life.

Bankruptcy is a vital financial tool many that Minnesotans turn to each year for debt restructuring and debt elimination. However, it is not right for everyone’s situation. Because of the complexity surrounding bankruptcy law and the legal process involved, we advise anyone considering bankruptcy to look into the matter with an experienced MN Bankruptcy Lawyer. In the meantime, let’s take a closer look at some of the key things you must consider. It is important to understand that not all debts can be eliminated with bankruptcy. Also, not all individuals will qualify for Chapter 7 or liquidation bankruptcy. So let’s take a look at what bankruptcy can and can’t do in general terms.

There is a stigma surrounding the topic of bankruptcy that makes it a “hush-hush” topic for many people. More often than not, clients come to the Bankruptcy Lawyers at Kain & Scott after trying their hardest to avoid filing bankruptcy. It isn’t like the court is going to stamp the word “BANKRUPTCY” on your forehead, but for many it can feel that way. The hardest part in filing bankruptcy is often accepting that bankruptcy may be the best solution to your overwhelming debt. What people should realize, is that bankruptcy doesn’t have a look, a lifestyle, a gender, an income, or a one-size-fits-all story. Bankruptcy is a single solution to an infinite number of problems for a diverse range of people.

Thinking about whether or not to file Chapter 7 Bankruptcy often takes our guests some time to think about. They, of course, want to deliberate and let it sink in and make sure it makes the most sense for themselves and their family.

If there is one aspect that scares most people about a Chapter 7 Bankruptcy it is the prospect of losing assets when you file bankruptcy. Is it obvious that no one wants to lose assets? Yes, that should be obvious. When you are down and out and can’t pay your bills and you have lost so much already, the last thing you want is to lose even more.

We get this question all the time. Wes, What Is Chapter 7 Bankruptcy? How does it work? Do I lose assets? Can I get rid of all debt? What about taxes? What about student loans? These are all great questions. The saying is knowledge is power. That is what we believe at Kain & Scott as well. The more you know, the more empowered you feel about your own circumstances. When we explain to people that what they think happens is not really what happens you can see our guests lay further back in the chairs and relax.

Every year, roughly 10-12,000 Minnesotans file bankruptcy. I think there are twice that number who should file bankruptcy every year but don’t. I am always amazed at how tough Minnesotans really are. By that I mean they put up a good fight for a long time before they turn to bankruptcy. Mind you- I am not at all suggesting they should wait long to file bankruptcy because quite frankly, that is the number one regret we hear from our guests all the time.

It’s not easy researching which MN Bankruptcy Law Firm to use for your bankruptcy case. There are so many where do you start? It seems overwhelming and so many claim to do bankruptcy work. Do I just throw a dart and hope the one I pick is the right one for me? Hell to the no! Spend some time researching law firms. When you do, you will find the right one for you.

Let me tell you the story of a former client of mine. She lived in Eden Prairie, Minnesota. I will call her Eve Padonk. Eve was an office worker at a local high school. She is a very nice person with a story to tell.

At Kain & Scott, we get this question a lot. Do I qualify for Chapter 7 or 13 bankruptcy? Financial problems come in different sizes and varieties. Generally speaking if you are looking at a bankruptcy website, then bankruptcy is something you should consider. Why do I say this? Because you are obviously struggling with some debt or you would not be searching for solutions right?

I know how to dance, but I don’t think I have ever learned how to 2 step- have you? Forget dancing for now, if you are up to your eyeballs in debt, you want simple solutions. No bullshit, no big talk, give it to me straight....how can I get my life back? At Kain & Scott our Eagan MN Bankruptcy Lawyers understand that. Dealing with overwhelming debt is crushing on your mental and physical spirit. Most of our guests have been dealing with overwhelming debt for years. If you live in Eagan and you are saddled with overwhelming debt, there is hope because we have developed a process of getting your life back that is comforting to our guests. Our promise to our guests is timeless.

When I feel down and out, I want someone on my side, going to bat for me, picking up the slack for me, because in the moment, I feel weak, and low energy. When you suffer from overwhelming debt, the last thing you need is an Eagan MN Bankruptcy Lawyer that is stuffy, mean, and makes you do most of the work. Have you ever talked to someone and you know they are speaking to you in a condescending tone? I don’t like it- at all!

The world is noisy isn’t it? I think it is. It seems like so much of life is fleeting and superficial. I am not trying to drowned you in despair- at all. Heck, I think the quiet moments in life, those moments when you lean back and reflect on life’s events are the real crown jewels. At 47 years of age, I can tell you that the one thing I have learned about life is how humbling it really all is.

Every year, Minnesotans who live in and around Minneapolis get their lives back and celebrate their new life with enthusiasm. If you are one of those people who filed Chapter 7 or Chapter 13 Bankruptcy and live here or anywhere else in the twins cities metro area, and you now have your life back, please know how much I am proud of you!

This is a source of great confusion in the marketplace. If you own a business, does the business need to file bankruptcy or you? Can I just file on business debts and not my personal debt? These are all great questions.