Over the years we have had the pleasure of helping those in the St. Cloud and Brainerd areas find relief from their overwhelming debt problems. We’ve helped file thousands of Minnesota bankruptcy cases, and receive immense joy knowing we are able to provide our clients with the fresh starts they are looking for.

Finding yourself in over your head with debt problems can feel like a weight constantly weighing you down. We understand that good honest people can face financial troubles out of their control, and because of this bankruptcy attorneys want to help. If you ever find yourself in need of financial help, consider going in to talk with an attorney. Many attorneys offer free consultations, and they by no means require you to file for bankruptcy. Here’s a personal story from a couple I met with recently:

Here at Kain & Scott, one of the most common debts that our clients struggle with is their student loans. Unfortunately, in most cases, student loans are not dischargeable in a bankruptcy case. You may think there is no hope in solving your student loan issues, but we want to assure you that bankruptcy CAN help you. Read on to hear a personal experience from a client who had unmanageable student loan debt.

Wesley Scott grew up in a humble family of nine children in Foley, Minnesota. His dad worked in a factory and his mother was a work-at-home mom. Not only did his mom take care of her nine children, but she also babysat other children to earn money to feed their family. It was a big family, with lots of love, but little money.

One of the more common reasons why people file for bankruptcy is because of a business failure. A business failure is a difficult time and you shouldn’t make it more difficult than it has to be by trying to handle the situation on your own. If you find yourself in over your head with business debt, filing bankruptcy can provide you with a more manageable way to pay those debts. It can also give you the fresh start you need to rebuild your finances and get your life back after closing your business.

The Minnesota Bankruptcy Law Firm of Kain and Scott, P.A. has an extensive bankruptcy background and has been involved with filing bankruptcies since 1972. We have spent decades perfecting our bankruptcy practice and our service to clients.

Most people spend their lives building up their assets. From homes and vehicles to retirement savings, the American dream is to be able to provide for these things. When an unexpected life event happens that causes a major blow to your finances, bankruptcy can be a viable solution to solve your financial troubles. However, for those contemplating filing bankruptcy, losing assets is a major concern. 

In today’s world, it is very common to be asked to provide a co-signer when seeking a loan, apartment, or other form of credit from a bank or company. It is their way of assuring themselves that they will get paid. You may think that they require this because they don’t trust people to make their payments, but in reality, they too know that bad things can happen to good people. Things in life may happen that are not under control of the debtor such as unemployment, divorce, death of a spouse or a prolonged illness. When these events happen, the duties of a co-signer may become a reality.

In today’s world, a college degree has become a necessity to acquire a good job. More often than not, students start college right after completing high school. This typically means they haven’t had much time to begin saving up for their higher education. Unless their parents were able to put money away for them, most students end up taking out student loans to pay for the bulk of their education. Then, when they complete college they have a large amount of debt waiting for them; and, if they are unable to find a good paying job right away, troubles can begin escalating quickly. It doesn’t take long for student loans and their interest rates to spiral out of control.

In our experience, when someone decides to file bankruptcy they are taking the first step in a final solution to their debt problems. There are other alternatives to bankruptcy, but they act more like a Band-Aid than a solution. Choosing bankruptcy is an important personal decision, but too often people allow other’s misconceptions about bankruptcy prevent them from resolving their debt through bankruptcy.

There are many factors that can play into your decision to want to file bankruptcy. Oftentimes creditor harassment becomes too much to handle, or you come to the realization that you are in too far over your head and need some help finding a way out. Most of the time we encourage our clients to stop waiting and take action right away to get on the fast track to debt relief.

One of the most common fears when someone considers filing bankruptcy is that everyone will know about it. In reality, very few people other than your creditors or those you tell personally will ever know that you filed a bankruptcy case. Though bankruptcy filings are a matter of public record, it is not as easy to locate these records as it is to find other matters of public record, such as arrests, driving violations or real estate purchases. 

People from all walks of life can end up with financial struggles; no one is immune to financial crises and overwhelming debt. The events that unfold after falling behind on payments vary by case, but one common element that is involved in many cases is a mortgage payment. For many families, mortgages are one of the highest monthly payments they have, which makes it one of the first to fall behind on. I’ve asked James and Jean if I could share their story, to show you that financial trouble can occur at any time in your life – but this chapter in your life doesn’t need to end poorly.

We receive questions from clients about eliminating tax debts in bankruptcy on a regular basis. Owing the IRS is a frightening and frustrating experience because it can seem as if no matter how hard you try, you never get out from under your IRS debt. The interest and penalties alone can quickly add up to more than the actual tax debt, making it impossible for most individuals to pay it off. When dealing with the IRS becomes too overwhelming, people turn to us for help.

If creditors are threatening to take your property or money for a debt, you may want to ask a lawyer how you can stop lawsuits, garnishments, repossessions, foreclosures or other collection efforts.

A myth is an idea or belief that is believed by many people to be true when in reality the idea or belief is false. Myths can be harmful because they are passed from person to person until people begin to believe them without question. Bankruptcy myths can be especially harmful, because those who truly need the financial relief bankruptcy provides won’t even consider it as an option.