Welcome To The MN Bankruptcy Blog

Inside you will find over 500 helpful articles discussing the Chapter 7 & 13 Bankruptcy Process and other solutions for difficult financial situations.


      William Kain

      William Kain
      I have been practicing law for over 30 years, more than 20 of those have been with Kain & Scott, P.A. I continue to enjoy helping those who fall into unfortunate financial situations get back on their feet. St. Cloud is the community where I live, work and play, and I take great pride in helping and supporting my fellow community members in their time of need.
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      Recent Posts

      The Flexibility in a MN Bankruptcy Chapter 13 Payment Plan

      Posted by William Kain on April 3

      I posted recently about the composition of a chapter 13 payment. A number of factors – not simply a budget calculation – go into determining the final payment amount. And that recent post only covered some of the considerations. Here are some more things to keep in mind in determining what a monthly chapter 13 payment will be.

      In some cases, the amount that has to be paid over the lifetime of a plan – attorney fees, trustee fees, auto loan payments, mortgage arrears, tax arrears, etc. – works out to a higher monthly payment that a debtor can afford right now. Does that mean that a chapter 13 simply won’t work in this situation? Not necessarily.

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      Minnesota Chapter 13 Co-Debtor Stay and Taxes

      Posted by William Kain on March 25

      The co-debtor stay is a nice feature of chapter 13 bankruptcy. When an individual files a bankruptcy case, there is an automatic “stay” that is put in place by the Bankruptcy Court. The automatic stay prevents creditors from collecting against a bankruptcy debtor. In chapter 13 that stay can also, in many cases, extend to co-signers and joint account holders. As long as the chapter 13 case is pending, other people obligated on debts that are “in” a chapter 13 case can be protected by the same automatic stay.

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      Taking That First Step Towards Filing MN Bankruptcy

      Posted by William Kain on March 24

      Financial problems can generate so much stress that it is difficult for a lot of people to collect financial information – embarrassment and anxiety can cause good people to shut down by not opening mail, answering phone calls or even checking bank balances because of the paralyzing fear that the news is going to be bad.

      Still, if someone decides that filing a bankruptcy case is in their best interest, the lawyer representing the client has to prepare a bankruptcy petition and schedules that accurately reflect the client’s financial situation.

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      Your Minnesota Bankruptcy Chapter 13 Payment Plan

      Posted by William Kain on March 17

      Chapter 13 payment plans can solve a lot of financial problems: mortgage arrears can be cured, expensive car loans can be restructured, and assets that would have to be surrendered to a chapter 7 trustee can be retained. This is accomplished through a chapter 13 plan where a debtor pays a specified amount of money to the chapter 13 trustee over a defined period of time.

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      Useful Tips for Your First Bankruptcy Appointment in MN

      Posted by William Kain on March 12

      It’s tough to pick up the phone and call our office to set up an appointment to speak with one of the attorneys at Kain & Scott about your financial troubles. Everyone at our office knows this, and we honor your courage in making that call. When you’ve made the phone call and set up the appointment – whether it’s in-person, over the phone, or using a video platform – we want to shift our focus to having that first meeting be productive for both you and us.

      Here are some ways that our clients help us provide the best service we can.

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      Mechanics Liens and Bankruptcy in Minnesota

      Posted by William Kain on February 19

      In Minnesota, contractors, laborers and material suppliers are entitled to file a mechanics’ lien against real estate they have “improved” – by constructing, remodeling or repairing structures on the property – and for which the property owner has not paid. Filing bankruptcy before or after a mechanics lien can cause different scenarios.

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      Have Your Chapter 13 Payments Become Unaffordable in Minnesota? Let Us Know!

      Posted by William Kain on February 17

      One of the great features of Chapter 13 bankruptcy is that the monthly payment the debtor makes is based on the debtor’s budget. In theory, the Chapter 13 payment is always affordable for debtors. Unfortunately, because your circumstances may change, your Chapter 13 payments may become unaffordable. We can help.

      Chapter 13 bankruptcy cases are repayment plans that can be an effective tool to use to resolve financial problems in a variety of scenarios. Chapter 13 gives people a way to restructure their finances while being able to retain their home, their car, and other assets that would otherwise have to be turned over to creditors.

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      If You're Divorcing, a Joint Bankruptcy Is Probably Not a Good Idea

      Posted by William Kain on February 4

      Money problems can cause friction in relationships, and these problems can sometimes result in the relationship becoming fractured. If couples are divorcing, and they have financial problems, the lawyers for the couple will often recommend the couple file a bankruptcy case. Because of expense, many lawyers will advise that the divorcing couple file a joint bankruptcy case.

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      What is the Fair Debt Collection Practices Act?

      Posted by William Kain on January 5

      As a bankruptcy attorney, I see people with all sorts of issues and harassment they are facing from their creditors, and it is amazing the length that collection agencies will go through in order to collect past-due debts. Everyone wants to pay the bills they’ve incurred, but unplanned events can throw-off even the most prudent financial planners. Regardless of whether a payment was missed for valid reasons (like vehicle repairs, medical debt, job loss/income drop, etc.), collection agents will soon be calling non-stop (possibly at your work) and demanding late fees, accrued interest, and enforcing acceleration clauses which makes the full underlying balance immediately due! What’s worse, is that these collection agents are incredibly hard to get in contact with, and they do not inform people of their rights when pursuing every avenue available to collect their debts.

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      Getting Financing After Chapter 7 Bankruptcy

      Posted by William Kain on March 31

      Many of our clients find themselves filing for Chapter 7 bankruptcy because they are out of options. And while bankruptcy is supposed to give you a fresh start, we understand that it often feels more like a defeat. Many clients worry if they will ever be able to qualify for a loan after their bankruptcy case. While you may have to pay a higher interest rate and meet other requirements, the good news is that getting financing after your Chapter 7 bankruptcy is easier than you might think. An experienced Minnesota bankruptcy attorney can help you develop a plan and identify your options.

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      Will Bankruptcy Affect My Small Business?

      Posted by William Kain on March 26

      Deciding to file for bankruptcy is a big step, especially if you own and operate a business. You need to get out from under your debts, some which were directly related to your business, while other debts were strictly personal. Business owners worry about how the bankruptcy will affect their business, with good reason - the idea of closing down your business and the loss of income can be quite worrisome. The good news is that the point of bankruptcy is to help you make a fresh start, not make your life more difficult.

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      Rebuilding Your Credit After Bankruptcy (Part 2 of 2)

      Posted by William Kain on March 24

      In the first part of this topic, we discussed developing good financial practices to help you rebuild your credit. If you haven’t already read that post, we strongly recommend that you review it before reading this one - the steps discussed in this post won’t do you much good if you haven’t yet gotten your financial house in order. Good financial habits are a necessity when it comes to rebuilding your credit after bankruptcy.

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      Rebuilding Your Credit After Bankruptcy (Part 1 of 2)

      Posted by William Kain on March 22

      Getting your bankruptcy discharge is a milestone event in reclaiming your financial future. In some ways, however, this is just the beginning. In order to maximize the value of your bankruptcy and get back on the right track, you need to rebuild your credit. For many people, this means relearning how to manage their finances.

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      What is Involuntary Bankruptcy?

      Posted by William Kain on March 21

      Most people come into our office wondering whether bankruptcy is the right choice for them. However, there are some instances where the choice is made for them because they have had an involuntary bankruptcy petition filed against them.

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      What Happens When Your Creditors Challenge Your Bankruptcy?

      Posted by William Kain on March 15

      When you file for bankruptcy, you are required to notify all of your creditors. This gives your creditors the opportunity to challenge your bankruptcy filing - they might argue that you shouldn’t be allowed to file bankruptcy at all, or they might have an issue with some particular aspect of your bankruptcy. As intimidating as this may sound, the reality is that you will be given an opportunity to respond to their challenges, and ultimately, the court will decide whether or not you should be allowed to proceed. It may still sound scary, but rest assured that the playing field while in bankruptcy is much more level than it was before you filed for bankruptcy. If you’re worried about possible objections to your bankruptcy case, a Minnesota bankruptcy attorney can help you both avoid and respond to those objections.

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      How to Make Those Collection Calls Stop

      Posted by William Kain on March 11

      Collection calls can make an already difficult situation miserable. They won’t stop calling until to you talk to them, but you don’t know what to say - you don’t want to make promises you can’t keep, and you’re so overwhelmed that you’re not sure there is anything you can pay. If you could just get the calls to stop, you could maybe focus and come up with a plan to get out of your current situation.

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