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.

Bankruptcy has a bad reputation. Most, if not all, of these negative feelings about bankruptcy are due to myths that have been passed on from one misinformed person to the next. We are here to set the record straight and show you that those myths are completely wrong. With bankruptcy experience dating back to 1972, our firm can assure you that you will not have to go through any of the following experiences.

Are you considering filing a bankruptcy case in Minnesota to relieve your debt problem?  If so, you may have already found a great deal of information about what you should do prior to filing bankruptcy; however, the things you should NOT do prior to filing bankruptcy are just as important.  In many cases, what you do prior to filing bankruptcy may not have a direct impact on your bankruptcy case. However, there are a few actions you can take that may negatively affect your case.  Below are five things you should never do if you are contemplating filing a bankruptcy case.

One of the top concerns of many of our clients is how filing bankruptcy will affect their credit rating. This is a valid concern because credit scores are no longer used only for obtaining credit. Insurance companies, telecommunications companies, and employers are now checking credit histories and using credit scores to make decisions about more than simply issuing credit. So, how does filing bankruptcy affect your credit score?

Our story may sound familiar because so many other families are experiencing the same situation due to the recession. My husband and I had great jobs before the recession.  We were in debt with our house, vehicles, and a few credit cards but we were doing great. We paid our bills each month and had money left over to contribute to savings. Then the recession hit and my husband lost his job.  Unemployment compensation helped for a while; however, it eventually ran out. We cut expenses and reduced spending — we even took our children out of pre-school and day-care to save money since my husband was home to take care of them.

Are you wondering if you should file a bankruptcy to get rid of your debt?  You have likely read information on the Internet and talked to friends, family, or co-workers who filed bankruptcy successfully, but you are still unsure if a bankruptcy is the best way to deal with your debt problems.  If you are considering a bankruptcy filing, you need to consult with a qualified Minnesota bankruptcy attorney before you make any final decisions. 

The amount of student loan debt owed by Americans has surpassed the total credit card debt owed in this country. The cost of receiving a college education continues long after the student receives his or her diploma in the form of student loan payments.

Are you searching for the best bankruptcy lawyer in Woodbury, MN? The attorneys at Kain & Scott have one goal — to help individuals and businesses who are experiencing financial troubles. You have suffered with debt problems long enough. You deserve to get on with your life without the threat of being sued by a creditor or harassed by a debt collector. 

Bankruptcy law was created to provide individuals with a way to resolve debt problems. Some people assume that you only need to file bankruptcy if you are "bad with money" or you abuse credit; however, this is not true.  While some people who file bankruptcy do so because they got into trouble with debt, most people need the help of the bankruptcy court because of a financial crisis caused by the loss of a spouse, unemployment, a failed business, divorce, personal injury, accident, or sudden illness. You can experience a financial crisis at any time — bankruptcy can help you recover and rebuild your credit following that crisis. 

In Minnesota, owning a cabin is the ultimate dream. You have likely saved up for many years to be able to buy one, but now a recent financial crisis (i.e. job loss, medical bills, divorce, etc.) has made it hard to keep up with all of your bills. You may be worried that if you file for bankruptcy you will need to sell or let go of your cabin that you worked so hard to buy. However, when you file bankruptcy, you do not lose all of you assets as many people believe. In most cases, debtors are able to keep their assets while eliminating their debts.

Not all debts are the same.  Some debts are unsecured (i.e. credit card debt) while some debts are secured (i.e. mortgages).  Most people think of a mortgage as “good” debt because as you pay this debt down, you are increasing your net worth because the equity in your home is increasing. Furthermore, a mortgage is a debt that has a purpose — to provide a home for you and for your family. 

Face it, in today's world, credit is almost always necessary. From buying a house, financing a new vehicle, or paying for higher education. The key is to manage credit wisely after bankruptcy. Some people believe that if they file bankruptcy they will never be able to qualify for credit again, but this is not true.

Taking the step to meet with an attorney for a free bankruptcy consultation is the first thing you should do on your road to getting your finances under control. Many lawyers provide a free bankruptcy consultation to help you decide what is right for you and your situation. The bankruptcy consultation is an opportunity for the attorney to evaluate your financial situation in detail in order to provide affordable solutions to your debt problems based on the attorney’s vast knowledge of bankruptcy law and his experience helping people solve their financial problems.