The MN Bankruptcy Blog | Learn the Bankruptcy Process & More

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.

Can Bankruptcy Stop Evictions In Minneapolis?

Posted by William Kain on February 6

Depending on the timing, bankruptcy’s automatic stay often stops eviction actions in Minneapolis, even if the wolves are already gathering at the door.

To fully answer this question, it’s important to understand how the eviction process works in the Gopher State. In most cases, landlords give notice of the defect and an opportunity to cure. Most Minneapolis evictions are based on unpaid rent. Some other common grounds include a lease violation (e.g. an unauthorized pet or roommate), drug activity, prostitution, weapons violations, or some other public nuisance, and a holdover tenancy. This letter is not a legal eviction notice, even if it contains the E-word.

How Does Bankruptcy "Work" - Part 3

Posted by William Kain on January 31

In the last two weeks I’ve written about how bankruptcy "works" - the nuts and bolts of bankruptcy law so that the policy goals of bankruptcy law can be met. The two main underpinnings of bankruptcy are to treat creditors fairly and to allow debtors to live with dignity. My first blog dealt with the contents of the bankruptcy petition, schedules and statements - documents that must be filed in every bankruptcy case - and how the information contained in these documents further the policy goals of bankruptcy.

Are Bankruptcy Discharged Debts Taxable In Minnesota?

Posted by William Kain on January 29

Typically, if someone else pays a person’s debts, the IRS considers such payments to be taxable income. Prominent exceptions include certain student loan repayments and gift repayments. Based on that analysis, many people think the answer to this question is a resounding “yes.” But it is actually a surprising “no,” because bankruptcy discharge is different from debt repayment.

How Does Bankruptcy “Work” - Part 2

Posted by William Kain on January 24

Last week, I wrote about the nuts and bolts of bankruptcy - how bankruptcy “works.” In doing so, I concentrated on the paperwork any bankruptcy debtor has to file with the court: the bankruptcy petition, schedules and statements. And I wrote about those documents through the lens of the two goals of bankruptcy: to treat a debtor’s creditors fairly, and to allow the debtor to live with dignity. This week, I want to take a deeper look at how bankruptcy law attempts to satisfy those two goals.

How Minnesota Bankruptcy Helps Senior Citizens Get Debt Relief

Posted by William Kain on January 20

Many seniors—perhaps after a lifetime of responsible spending and financial planning—find themselves in debt later in life. Typically, an upsurge in medical bills and related expenses causes seniors to fall behind on payments; because most seniors are on a fixed income, they sometimes lack the additional resources needed to pay for ongoing treatment or hospitalizations. With constant harassment from creditors and worries about liens and other aggressive collections actions, instead of enjoying your retirement you may end up even more stressed about money than ever before.

Ask a Lawyer: What Not to Do Before Filing Minnesota Bankruptcy

Posted by William Kain on January 18

When you are contemplating a MN Bankruptcy filing, there are several things that you should not do before filing your petition. Taking certain actions immediately prior to filing for bankruptcy relief can hurt your bankruptcy case and turn a simple bankruptcy into a complicated case, at risk of having your bankruptcy discharge denied.

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The Minneapolis Bankruptcy Attorney Filing Process

Posted by William Kain on January 16

Most Americans are worried about money. In fact, for about a quarter of people dealing with debt issues, the stress is bad enough to create PTSD-like symptoms. Sometimes, a few hours of moonlighting per week and some financial sacrifices in other areas are sufficient to restore financial sanity. But in many other cases, that method will not work because there is simply too much debt. Making matters worse, moneylenders call and send letters almost daily, and each new communication is a little more threatening than the last one.

MN Bankruptcy Lawyer Explains How Bankruptcy "Works"

Posted by William Kain on January 15

I meet with prospective clients every day to speak with them about their financial problems and if and how filing a Chapter 7 or Chapter 13 bankruptcy case would help resolve the specific problems confronting them. At Kain & Scott, our MN Bankruptcy Lawyers have a structure to these meetings - the lawyers do what is in essence an intake interview.

So You are Filing Bankruptcy… What Happens Next?

Posted by William Kain on December 28

You are Filing Bankruptcy in Minnesota and, now that the ink is dry and your petition is filed, do you know what happens next?

What happens next after filing bankruptcy depends largely on whether you filed for Chapter 7 or Chapter 13, although there are similarities in both processes. For a closer look at what you can expect after filing your bankruptcy petition, read on!

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Minneapolis Bankruptcy and Divorce

Posted by William Kain on December 27

One of the top reasons debtors at our Minneapolis Bankruptcy Law Firm end up filing for bankruptcy is divorce. It is unfortunate because divorce is hard enough as is. Hurt, betrayal, anger, grief, sadness and additional emotions can consume you, plus you have to get through the muddy water divorce creates, such as dividing your assets and learning to live on your own again.

Commonly-Asked Questions: Chapter 13 and Chapter 7 Differences

Posted by William Kain on December 21

For the past five weeks, I’ve written about the differences between chapter 7 and chapter 13 bankruptcy cases. It’s taken a lot of words to go through the differences between the two chapters. For the client considering filing a bankruptcy, the choices can be somewhat daunting, so it’s important for our clients at Kain & Scott to know as much as possible about the differing approaches to debts that are present in chapter 7 and chapter 13. Only when clients have a full understanding of the operation of both chapters, and the outcomes with respect to various types of debt can the client make an informed choice regarding which chapter is best for them.

Bankruptcy and Marriage in Maple Grove, MN: Does Your Spouse Have to File & Other Common Questions

Posted by William Kain on December 19

Our married clients often have many questions regarding how filing bankruptcy will affect their spouses. The first question is usually whether the spouse must also file. The second question is typically whether the spouse will need to be involved in the process, and if so, how much. The third most asked question is usually how the spouse will be affected by the filing. These three common questions will be discussed below.

Commonly Asked Questions About Priority Debt

Posted by William Kain on December 15

Over the last month, I’ve tried to answer one of the questions most often posed to me by prospective clients: which bankruptcy chapter is best for me? What’s the difference between the two chapters. And since this is the fourth week that I’ve spent writing on this question, the answer to those questions is obviously a bit involved. This week I’ll write some more about the differences in the way chapter 7 and chapter 13 operate - and this week we’ll look at the differences as they apply to priority unsecured debt.

Commonly Asked Questions About Secured Debt and Bankruptcy

Posted by William Kain on December 8

For the last three weeks, I’ve tried to answer some very commonly-asked questions: what’s the difference between chapter 7 and chapter 13 bankruptcy? The answer to that question is fairly easy - chapter 7 is a liquidation approach to money problems, while chapter 13 is a repayment program. And the mechanics of the two chapters - the preparation of a petition, schedules and statements, the filing of the petition and schedules, and the steps to obtain a discharge - are also fairly easy to explain. But since it’s taken me four weeks-worth of blogs to cover this topic, it’s the follow-up question “what’s the best chapter for us?” is more complex. This week, I’ll write some more about the differences between the two chapters.

How to File Bankruptcy in Minnesota

Posted by William Kain on December 5

One of the most frequent questions potential clients ask us is, “do I really need a lawyer to file bankruptcy?” The answer is an overwhelming “yes!” While there is no law that requires you to hire a lawyer to handle your bankruptcy, it’s a good idea and can save you a significant amount of time and money.

Commonly Asked Questions About Your Credit & Chapter 13 Bankruptcy

Posted by William Kain on November 30

When the lawyers at Kain & Scott meet with potential bankruptcy clients, we always make it a point to ask what questions or concerns the client has during our first appointment. Almost everyone we meet with has worries about filing a bankruptcy case, and many of the questions that spring from that worry are the same from client to client. Let’s look at some of the commonly-asked questions we get from our clients - and get some answers.