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.

 

    AVOIDANCE ACTIONS IN BANKRUPTCY IN MINNEAPOLIS, MN

    Posted by Col Ovik on February 11

    Avoidance actions are claims to avoid a transfer of property by the debtor that was made voidable by the Bankruptcy Code. Avoidance actions include claims to recover fraudulent transfers and certain preferential transfers made too close in time to the filing of bankruptcy. The action is brought for the benefit of the estate and therefore belongs to the estate.

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    Amendments and Bankruptcy in Minneapolis, Minnesota

    Posted by Amanda Scharber on February 8

     Amendments are an official adjustment, addition, or subtraction of information in your bankruptcy petition or other official court documents. Amendments can happen for all sorts of reasons, for example, errors, omissions, new information, or different circumstances. 

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    FILING BANKRUPTCY IN MINNEAPOLIS, MN? WATCH OUT FOR THIS…..

    Posted by Wesley Scott on February 5

    Court filing says Hoglund Law engaged in massive interstate advertising and marketing fraud spanning multiple states

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    VALUING ASSETS IN A BANKRUPTCY IN MINNEAPOLIS, MN

    Posted by Col Ovik on February 3

    When filing a bankruptcy petition, the debtor is required to value of all of their assets. The value should be based on the current fair market value of the asset. The debtor needs to use logic and fact when determining the value of the assets. While most debtors are not experts on the value of all the assets that they own, at the time of the bankruptcy filing, the debtor is in a unique position to make a fair estimate on the value of the asset. The debtor knows the current condition of the asset, what is wrong with it, how well it has been maintained when it was purchased, and for how much. Additionally, many debtors have recently tried to sell their assets before filing for bankruptcy, to avoid filing, and they know the market and asking price for the asset. 

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    2024 UPDATE: BANKRUPTCY AND STUDENT LOAN DISCHARGE IN MINNEAPOLIS, MN

    Posted by Wesley Scott on February 1

         When the news hit about a new truncated process to determine if student loans are dischargeable in bankruptcy, hopes naturally rise. When hope rises, our phones ring from anxious people wondering if student discharge is truly a possibility for them. I get it. We get it. 

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    Claims in Bankruptcy in Minneapolis, Minnesota

    Posted by Amanda Scharber on January 30

    A claim in bankruptcy is a claim of money owed to a creditor, filed by or for a creditor. Proof of claims is the document the creditor will file in the court, explaining the amount owed, why it is owed, and providing supporting documentation for the debt.

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    Lifeback Law Firm Celebrates 2023 Milestones and Looks to 2024

    Posted by Wesley Scott on January 26

         In 2021, LifeBack Law Firm decided to change who we were to Minnesotans needing a safe refuge to inquire about bankruptcy and a safe place for employees to work. Looking back at early 2021, even I had little understanding (I am sad to say) just how unsafe the firm was for employees and prospective clients. When we set out to revamp ourselves and promote diversity and inclusion amongst our ranks, the blowback we got was swift, immature, and as insecure as you would imagine. It turns out, for many, unless diversity benefits them, they give diversity lip service. The trouble for them is the firm had no intentions of giving diversity and inclusion lip service. 

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    Bankruptcy Audits in Minneapolis  Part 3

    Posted by Col Ovik on January 22

    For questions or concerns about information on the petition, the debtor will be required to supply relevant explanations. Supplying the required evidence, documents and explanations may seem daunting, but is it part of the process to ensure that bankruptcy debtors continue to be honest and forthcoming on their petitions.  

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    Creditor Objections During Chapter 13 Bankruptcy in Minneapolis, Minnesota

    Posted by Amanda Scharber on January 18

    When you file bankruptcy, your creditors receive notice that you filed and are given the timeline of events during your case. This includes the timeline to object, bring motions, and attend hearings. 

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    The Court Filing Says Hoglund Law Removed 229 Google Maps Listings Because They Were False.

    Posted by Wesley Scott on January 15

          A court filing in Hennepin County, MN on September 26, 2023 (court file no. 27-CV-23-12137), claims from 2013 to 2020, Hoglund, Chwialkowski & Mrozik P.L.L.C. n/k/a Hoglund & Mrozik, P.L.L.C. engaged in massive interstate advertising and marketing fraud spanning multiple states on its website, Google map location and lawyer listings, and by its conventional advertisements. 

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    Interesting Facts About Bankruptcy in Minneapolis, Minnesota

    Posted by Amanda Scharber on January 12

    Bankruptcy is full of fun and interesting facts. This blog will explore a few. 

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    Court Filing Says Hoglund Law Engaged in Massive Interstate Advertising and Marketing Fraud Spanning Multiple States

    Posted by Wesley Scott on January 10

         A court filing in Hennepin County, MN on September 26, 2023 (court file no. 27-CV-23-12137), claims from 2013 to 2020, Hoglund, Chwialkowski & Mrozik P.L.L.C. n/k/a Hoglund & Mrozik, P.L.L.C. engaged in massive interstate advertising and marketing fraud spanning multiple states on its website, Google map location and lawyer listings, and by its conventional advertisements. 

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    Bankruptcy Audits Part 2 in Minneapolis, MN

    Posted by Col Ovik on January 8

    If your case is selected for audit, the U.S. Trustee will select an audit firm to conduct the audit. The firm will review all the documents filed with the court looking for material misstatements of income, expenses, or assets. 

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    Feeling Anxious About Filing Bankruptcy in Minneapolis, MN?

    Posted by Wesley Scott on January 5

         Every single human who ever lived on this planet or who is living on the planet now has felt the emotion of anxiety. Anxiety is a human emotion that helps us in case a wilder beast is about to attack us. It is not so helpful if a wilder beast is not attacking us. 

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    Vehicle Surrender After Bankruptcy in Minneapolis, Minnesota

    Posted by Amanda Scharber on January 3

    When you file bankruptcy you discharge your liability on unsecured debts (with some exclusions, for instance, taxes or student loans) and secured debts. Due to the lien on secured assets, you need to keep paying on the debt to keep the property, but your liability on the debt is discharged through your case. As long as you have not signed a reaffirmation agreement in the bankruptcy, you can surrender your filed secured assets back to the lender during or after bankruptcy, and not be liable for any balance owed on the loan, due to the discharge. This is the same regarding involuntary repossessions as well, if after filing you fall behind on payments and have a repossession, you will not be liable for the balance, due to your bankruptcy discharge. 

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    3 Easy Ways to Overcome the Fear of Filing Bankruptcy in Minneapolis

    Posted by Wesley Scott on January 1

         The fear of filing bankruptcy in Minneapolis, MN is real. The level of courage it takes to overcome this fear and actively think about bankruptcy is commendable. However, there are ways to alleviate the fears of filing bankruptcy you may not have thought about. When discussing strategies on how to resolve a debt problem for good at LifeBack Law Firm, we discuss this in detail. 

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