At Kain & Scott, we get the question all the time, "What happens to my credit score if i file bankruptcy?" It is a question that concerns every Minnesota debtor facing bankruptcy and wondering what the bankruptcy aftermath looks like. I am high anxiety so I would be asking the same question too. Fortunately, what makes up your credit score and how bankruptcy affects it is a lot better than you would think.

What is a Chapter 13 Bankruptcy? How does it work? Could it be the answer to our national student debt crisis? Possibly! We have a conference call scheduled with Senator Amy Klobuchar’s office on February 17, 2016 to discuss this very possibility. Chapter 13 could be the answer to our Student Debt Crisis forever! Help us fight to free students from the bonds of student loans for the rest of their lives. 

Let’s face it. There are numerous articles written about how to file bankruptcy on the internet. You can literally type in a search phrase and with the click of a button you’ll have millions of pages to look at. But with such a vast amount of information, if you have no legal education or experience, where do you even start? How are you supposed to know what is true and correct and if the authors are trustworthy? This is one of the biggest problems with the free bankruptcy resources on the internet today. At first glance, filing bankruptcy without the assistance of the Roseville Bankruptcy Attorneys might look easy but the deeper you dig into bankruptcy law the more complex you’ll find it.

Imagine… you’ve fast forwarded your life a few days and you no longer have any those pesty creditors or debt collectors calling, writing and harassing you demanding payments. All collection activity, including lawsuits, wage garnishments, levies, foreclosures and repossessions has stopped. A few months later, by law, you are legally debt-free! All of your department store cards, credit cards, utility bills, medical bills and unsecured loans have been discharged and life is good! Most people in a serious financial pinch, struggling and stressing about overwhelming debt, would give anything for this. Fortunately, this is what you can expect from the Maple Grove Bankruptcy Attorneys at Kain & Scott. And there's more:

When you're experiencing a business failure, income drop, divorce or medical problem or any type of financial struggle that you feel like you just can't escape, you're not alone! On average this happens to thousands of Minnesota residents every year leaving them with their best option to file bankruptcy. Just last year over 10,000 Minnesotan's needed to file a Chapter 13 or Chapter 7 Bankruptcy to restore their 1st class citizenship again. It can happen to anyone. Even some of our own family members have filed bankruptcy. Fortunately, at Kain & Scott P.A., Maple Grove's nicest bankruptcy law firm, there are just 5 easy steps you need to take to get yourself on the road to a debt-free life again!

Are you struggling with debts that you cannot pay? Are creditors calling you at home and at work? Have you received threatening letters, been served with a debt collection lawsuit, or are facing a foreclosure or repossession? You may have considered filing bankruptcy to resolve your debt problem but are unsure if a bankruptcy is the best way to get rid of your debt. You may have heard that you will lose all of your property if you file bankruptcy or that you will never qualify for credit if you file bankruptcy.

Are you having trouble paying your bills? Are creditors calling your workplace or calling family members for information? Have you been served with a foreclosure complaint or a debt collection lawsuit? If so, you may need to file bankruptcy to get rid of your debt. People file bankruptcy for several reasons — unemployment, medical bills, divorce, loss of a spouse, and business failure.

The new year is a time for new beginnings, and if you haven’t already done so, it is time to make your New Year's resolutions for 2016. If you are living with overwhelming debt, this year’s resolution should be easy to determine – take control of your finances and improve your financial well-being in 2016. To make your New Year’s resolution easier to attain, we’ve compiled a list of several tools you can use to reach your goal.

Are you tired of spending your evenings pouring over bills that you cannot pay? Have you reached the end of your financial rope and you are ready to consider filing bankruptcy? Filing bankruptcy is a serious step; however, filing bankruptcy is a step that will put you on the road to financial recovery.

The History of Bankruptcy

The history of bankruptcy in the United States dates back to the founding of our country. The framers of the Constitution recognized that bankruptcy would be an essential element of a successful capitalist economy because the alternatives of sending individuals to “debtor’s prison” or allowing individuals to suffer under the weight of overwhelming debt would be unacceptable. Therefore, they authorized Congress to provide a legal process for citizens to resolve debt problems.

Time has a way of flying by before you realize it. That’s what happened to me. I thought I had my entire life ahead of me but before I realized it, it was almost time to retire. I had enjoyed a good life and I was looking forward to enjoying my retirement with my family, until I received the news that no one wants to hear — “you have cancer.” Those first few weeks were spent in doctors’ offices discussing treatment options and attorneys’ offices preparing for the worst-case scenario. I fought cancer and I won! I have been in remission now for five years; however, the fight was very long and very costly.

It is not hard to fall behind on bills. Most people you know have probably done so at some point in their life; it is common and can happen to anyone at any time.

Jackie had a bright future ahead of her. She graduated high school at the top of her class and she was accepted to one of the top colleges in her state. Jackie had received help with tuition from several sources including some grants and scholarships; however, the cost of room, board, and tuition far exceeded the funds. In addition, she needed to support herself on a part-time job because her parents were not able to help her and her course of study did not allow her to work a fulltime job. In spite of the challenges, Jackie excelled in college.