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.

Are you struggling to pay your bills each month with less and less money?  Are bill collectors harassing you for payment and are creditors threatening lawsuits, foreclosure, or repossession?  If so, you should consider filing a bankruptcy case to resolve your debt problems.  Making the decision to file bankruptcy may not be an easy process; however, with the right Roseville bankruptcy attorney, the process and experience of filing a bankruptcy case can be less stressful than you may think.

Eliminating calls from creditors, reducing finance charges, lowering interest rates, and only having one debt payment to worry about each month sounds wonderful to someone who is struggling to pay his or her debts.  That is exactly what debt consolidation companies promise clients.  Debt consolidation companies promise to cut years off your debt payments, help reorganize your debt, alleviate your stress and anxiety, and improve your financial situation. 

One of the most common questions that we are asked is, “If I file bankruptcy, will I lose all of my property.” A common misconception is that if someone files bankruptcy they will lose his or her property. Unfortunately, the fear of losing property keeps many people from seeking the debt relief that bankruptcy provides.

Maple Grove, MN was founded in 1858 and is located in Hennepin County with an estimated population of 68,119. It is a vibrant part of the Minneapolis-Saint Paul metropolitan area with many retail, dining, cultural, and entertainment options.  The city is also home to research, development, and manufacturing facilities. With a median household income of $92,188 and a strong commercial presence, the city is attractive for anyone looking for a stable economy and ample job availability.

As medical costs continue to rise, the ability for individuals to pay off their medical bills is becoming increasingly difficult. In fact, fifty-six million people under the age of 65 will have trouble paying their medical bills this year. These unpaid medical bills and expenses result in three out of every five bankruptcies filed in the United States. Even for individuals who are covered by health insurance, 10 million of those individuals have medical bills that they cannot afford to pay after insurance has paid its portion. For these individuals, filing bankruptcy due to medical bills may be their best option. 

If you research bankruptcy online, you will find some useful information but you will also find a great deal of misinformation. Unfortunately, this misinformation can create doubt, confusion, and fear for a person who is already suffering the stress of dealing with debt problems. You may believe that the bankruptcy timeline is long and complicated; however, our staff is here to help you through each step in the bankruptcy timeline so that you can put the stress and anxiety of debt problems behind you in less time than you think.