Is your debt snowballing out of control this winter?
If there’s one thing that Minnesotans know, it’s snow. With an average annual snowfall of between 36 and 70 inches, The North Star State has experience handling whatever Old Man Winter throws its way.
But if you have snowballing debt, you will need more than a shovel and mittens this Minnesota winter.
In the age of YouTube tutorials and do-it-yourself blogs, it’s now easier than ever to find “how to” information online. From building furniture, to fixing a leaky faucet, to how to prepare a perfect child’s birthday cake, “how to” videos and tutorials empower the average layperson to expand their knowledge base and become more self-sufficient.
Have you ever been tempted by “one size fits all” Minnesota bankruptcy services? Advertisements for law firms that claim to understand the complexity of your financial situation without ever meeting you or discussing your information? Law firms that tout their bankruptcy expertise, without ever having actually taken a Minnesota bankruptcy case at all, let alone one that is exactly like yours?
One of the most common question we get at Kain & Scott in St Cloud is, "How much does St Cloud Bankruptcy cost? Obviously, if you are suffering from overwhelming debt, you don’t have gobs of money laying around and this is a legitimate concern. However, filing bankruptcy can be more affordable than you would think. Let's discuss:
Is one option, bankruptcy vs. foreclosure, a better alternative when compared to the other? While both may seem like bleak routes, one alternative is actually significantly better when compared to the other.
For many people, one of the first experiences they have with bankruptcy is playing Monopoly. In the game, when a player doesn’t have enough assets to pay their debts either to the bank or to another player, they are bankrupt and lose the game. Complete with orange card declaring “Bankruptcy! Do not pass Go, do not collect $200,” the game makes it clear that once you reach bankruptcy, for you the game is over -- you lose.
For those of us who were practicing law at the time, the month of October, 2005 is very memorable. It was October 17, 2005 that the provisions of the Bankruptcy Abuse Prevention and Consumer Protection Act went into effect - the most sweeping change in bankruptcy law since the Bankruptcy Reform Act of 1978.
Congratulations on making the transformative decision to file your Minnesota bankruptcy with Minnesota’s oldest bankruptcy law firm, Kain & Scott!
Now that you’re ready to erase your debt and repair your credit with Kain & Scott, we’ve created this handy article that shows you step-by-step how fast and easy your Minnesota bankruptcy can be with our bankruptcy specialists!
Some myths are fun and harmless: from Paul Bunyan to the Lost City of Atlantis, tall tales spark our imagination and inject the extraordinary into our ordinary lives.
Other myths, such as those surrounding filing Chapter 7 bankruptcy in Minnesota, are far from harmless. Without the facts, consumers can be confused by misinformation that prevents them from making sound financial decisions. Whether it’s false claims about the time and expense, or misleading information about what bankruptcy can and can’t do, these myths are just as make-believe as the Tooth Fairy and the Fountain of Youth
One of the most frequent questions we encounter from prospective clients is why they should hire Kain & Scott as their Minnesota bankruptcy lawyers. Whether referred to us by another satisfied client or finding us on their own, clients want to know that the Minnesota bankruptcy law firm they select has their best interests in mind when eliminating their debt.
Getting your life back by filing a Chapter 7 Bankruptcy in Woodbury, Minnesota is a wonderful thing. No one regrets filing Chapter 7 Bankruptcy, but they always regret waiting so long before they filed. Why? Because getting your life back is amazing and the scary things you think are going to happen to you when you file bankruptcy, don’t. For example, most people don’t know that most Minnesotans improve their credit by filing Chapter 7 Bankruptcy. What? Really? It’s true- you have no debt after bankruptcy- and your credit score increases because of this fact.
Could you use a financial fresh start? Do you have unsecured debt that you are unable to pay? Is your low credit score preventing you from living the life you thought you would?
Sadly, many St. Cloud residents would answer “yes” to all three of the above questions, while many more would agree with at least one.
When you visit St. Cloud, Minnesota’s official website, there is a staggering amount of “how to” information for residents: if you want to report graffiti, apply for a dog license, or volunteer for a great cause, all the necessary information is laid out in easy-to-follow steps. If you want to file Chapter 13 bankruptcy in St. Cloud, however, an experienced Chapter 13 bankruptcy law firm that provides excellence in bankruptcy representation to St. Cloud residents is your best source for information and guidance.
Before you can file for Chapter 7 or Chapter 13 bankruptcy, you must consult with a nonprofit credit counseling agency. There are two courses you must complete. One is pre-filing and one is post-filing. Most people attend these courses online but they can be completed over the phone as well. The purpose of the first course is to see whether there are any options outside of filing for bankruptcy and the purpose of the second course is to educate you on your budget moving forward.
A Chapter 13 bankruptcy is what we refer to as a “Government Sponsored Debt Repayment Plan.” Instead of using a debt consolidation company or tackling your overwhelming debt on your own, a Chapter 13 bankruptcy can be a great option. The main difference between a Chapter 7 bankruptcy and a Chapter 13 bankruptcy is the Chapter 13 Plan. When you file a Chapter 13 bankruptcy, you include a 3 to 5 year repayment plan. The repayment plan amount is based on your disposable income. Basically, you take your average income in a month and subtract your average living expenses. The amount left over is considered your “disposable income” which you can contribute to your Chapter 13 plan. Your Chapter 13 payments are then distributed to your creditors.
There are many common words and phrases that are used in bankruptcy cases - terms that aren’t commonly used in our everyday life, but that have specific meaning in bankruptcy cases. Knowing what these words and phrases mean eliminate some of the mystery that a person considering bankruptcy might experience in making a decision as to whether a bankruptcy case is in his/her best interest. Let’s look at some of these words and phrases below:
Is your debt snowballing out of control this winter? If there’s one thing that Minnesotans know,...
In the age of YouTube tutorials and do-it-yourself blogs, it’s now easier than ever to find “how...
Have you ever been tempted by “one size fits all” Minnesota bankruptcy services? Advertisements for...
One of the most common question we get at Kain & Scott in St Cloud is, "How much does St Cloud...
Is one option, bankruptcy vs. foreclosure, a better alternative when compared to the other? While...
For many people, one of the first experiences they have with bankruptcy is playing Monopoly. In the...
For those of us who were practicing law at the time, the month of October, 2005 is very memorable....
Congratulations on making the transformative decision to file your Minnesota bankruptcy with...
Some myths are fun and harmless: from Paul Bunyan to the Lost City of Atlantis, tall tales spark...
One of the most frequent questions we encounter from prospective clients is why they should hire...
Getting your life back by filing a Chapter 7 Bankruptcy in Woodbury, Minnesota is a wonderful...
Could you use a financial fresh start? Do you have unsecured debt that you are unable to pay? Is...
When you visit St. Cloud, Minnesota’s official website, there is a staggering amount of “how to”...
Before you can file for Chapter 7 or Chapter 13 bankruptcy, you must consult with a nonprofit...
A Chapter 13 bankruptcy is what we refer to as a “Government Sponsored Debt Repayment Plan.”...
There are many common words and phrases that are used in bankruptcy cases - terms that aren’t...
