Saint Paul is one of the greatest cities in the world in which to live. I know I may be biased due to the fact that I was born here, and now live here again, but I strongly believe any objective out-of-towner who relocates here would agree! Just because the city Saint Paul itself is a great place to live doesn’t mean that one’s particular apartment here is the best place in which to live. Sometimes, people simply find themselves stuck in a bad lease they wish they could do anything to get out of. There is one solution to this problem. You can file for bankruptcy (never saw that one coming, huh?).

Welcome back to our series of blog posts on the history and philosophy of the economy, bankruptcy, and debt – today we continue to discuss public benefits in the 21st century. Thus far, we have been picking and choosing public benefit programs to discuss based on whether they provide a true monetary benefit, but there are so many public benefit programs that offer funds or necessities. Now, we will discuss some public housing benefits.

    Once a creditor files a lawsuit and gets the court to enter a judgment against a person for they can then take action against that person to collect on the judgment. One of the ways a creditor can collect on their judgment is by garnishing the person’s wages. In Minnesota, a creditor may garnish up to 25% of a person’s net pay (the money they actually take home after deductions, like taxes, are taken out of their paycheck). This can cause a significant hardship to that person’s financial circumstances, especially if a person is already struggling to make ends meet and is living paycheck to paycheck. 

Welcome back to our series of blog posts on the history and philosophy of the economy, bankruptcy, and debt – today we continue to discuss public benefits, specifically social security and other 20^th century public benefits. 

    It’s easy to fall behind on car or mortgage payments, especially with the challenging economic times we now find ourselves in.  Falling behind on these payments can lead to one’s car being repossessed or a foreclosure upon one’s home. Creditors are often not easy to deal with, and frequently, many people find themselves in a position where they are unable to negotiate with the creditor to avoid losing their home or car. However, these people are not helpless. There is a tool available to help them and it’s called bankruptcy. A chapter 13 bankruptcy, in particular, is designed to allow people who fall behind on car or home payments to get caught back up with a court-approved repayment plan.

     Thousands of Minneapolis, MN residents contemplate filing Chapter 7 Bankruptcy each year. The inevitable question that arises is how will filing a Chapter 7 Bankruptcy in Minneapolis, MN affect my credit score? It is a respectable question and one that I would want to know the answer to myself. So many people think if you file Chapter 7 Bankruptcy, your credit score is sort of doomed forever. Not true at all. In fact, in many instances, it is just the opposite. 

    Cars depreciate in value quickly. Your car may have been your pride and joy when you first drove it off of the dealership lot. However, after many miles of wear and tear, you may feel differently. It is not uncommon for people to find themselves in a position in which their vehicle is worth much less than what they still owe on their car loan. This is not surprising when you consider the amount of interest the car loan lenders make you pay (and don’t get me started on all those extra fees the dealerships like to throw in).  However, there is a solution to that expensive eyesore taking up space in your driveway. You guessed it! You can file a personal bankruptcy case.

Summer in Saint Paul is a thing of beauty. Everywhere you look, there’s trees, rich foliage, and lots of flowers.  The weather is typically sunny and warm, but not too hot. The city is full of people engaging in outdoor activities such as boating, swimming, jogging, and playing in the park. However, one of the best things about the summertime in St. Paul is the sports.  

LifeBack Law Firm is Minnesota’s most kind and helpful bankruptcy law firm. We recently opened up a new location right where you live in Minneapolis, MN! We are now located at 310 E 38 Street, Suite 111, Minneapolis, MN 55409. We are just south of downtown Minneapolis and located on a bus line with plenty of free parking. If you live in Minneapolis, and you are suffering from overwhelming debt, and you need to file bankruptcy and get your life back, look no further than LifeBack Law Firm. LifeBack has been protecting Minnesotans from their creditors since 1972, and we can protect you too. 

     It is the age-old question isn’t it? What effect does filing Chapter 7 Bankruptcy have on my credit? It’s not what you think and here is why. Suppose you say to me, I have 50k in credit card debt and I have fallen behind on my payments. The credit card companies have not sued me yet but I am in default on all my payments and I am starting to hear from collection agencies. We all know collection agencies are the last stop before you get sued and your wages garnished and accounts levied by creditors.

Welcome back to our series of blog posts on the history and philosophy of the economy, bankruptcy, and debt – today we discuss public benefits, which are today are generally couched as welfare. 

Bankruptcy law allows debtors to file a personal chapter 7 or 13 bankruptcy case either by themselves, individually, or jointly with their spouse. Typically, when both spouses have a substantial amount of debt, it makes good sense for them to file a joint case together. That way, both spouses can wipe out all of their debt, at the same time, without having to go through the additional time and cost of filing two separate cases (debtors don’t have to pay twice for attorney fees and court filing fees).

Over my last posts, we discussed the bankruptcy regimes in the United States up to the Chandler Act of 1938. It is worth taking a moment to plot the policy concerns over those periods.

Though we have been tracing the history of bankruptcy policy in America, this week, we will take a break from that discussion. We turn instead to Greek philosophers and discuss some of their ideas about debts and society so we can gain perspective on our modern situation.

Each year, thousands of Minnesotans reach out to LifeBack Law Firm to ask for help with debt. And we know exactly how you feel reading this blog right now. Our former clients felt the same way. But do you know what they found? They found LifeBack Law Firm is Minnesota’s most kind and helpful bankruptcy law firm in Minnesota. When you are suffering with debt and run out of options, that is when you need to feel kindness the most. At LifeBack Law, we excel in helping Minnesotans file bankruptcy while emphasizing kindness and helpfulness. 

Many people who file for bankruptcy own recreational vehicles (RVs) like motorcycles, boats, snowmobiles, ATVs, and motorhomes. The ability to keep these recreational vehicles in bankruptcy is governed by the bankruptcy code, which outlines the legal framework for such cases. While bankruptcy offers a fresh financial start, it’s natural to worry about losing these valuable assets. The good news is that, under certain circumstances, it’s possible to keep your recreational vehicles even after filing for bankruptcy. However, the outcome depends on various factors, including the type of bankruptcy you file, the value and equity in your RVs, and your overall financial situation.