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.

 

    F.A.Q. About Filing Chapter 7 Bankruptcy in Minnesota

    Posted by Wesley Scott on October 4

    Filing Chapter 7 bankruptcy in Minnesota is a big step towards erasing your debt and getting a fresh start. As with any major life decision, you want to make sure that you have all the facts you need to make the right decision for your family. That’s why our bankruptcy specialists at Kain & Scott have addressed the most common questions our clients have about filing for Chapter 7 bankruptcy in Minnesota.

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    Bankruptcy: Am I Going To Lose My House?

    Posted by William Kain on October 3

    Financial problems make people anxious. And when clients come to visit with me about their finances, it is normal that they are anxious and stressed about their money situation. The anxiety comes, in large part, from the feeling that there’s not enough money to pay the bills - and the consequences that go along with that. The anxiety can be intense in these situations: worries about whether a person can be jailed if there is a civil judgment taken for an unpaid debt is common (no, the person is not going to jail). If a person files a bankruptcy case, who will know about it (creditors certainly will, but friends and neighbors almost always don’t).

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    3 Tips on Filing Chapter 7 Bankruptcy in Minnesota

    Posted by Wesley Scott on October 2

    Congratulations on making the decision to get a fresh start with Chapter 7 bankruptcy! Over the past 50 years, we have helped many Minnesota residents just like you discharge their debt by filing Chapter 7 bankruptcy. As a law firm that specializes in Chapter 7 bankruptcy, we know how to ensure that you get the most out of your bankruptcy and how to avoid common pitfalls that can prevent your debt from being discharged.

    We’ve compiled a few simple tips to help you file for Chapter 7 bankruptcy in Minnesota:

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    Dangers of Debt Consolidation Programs

    Posted by William Kain on September 30

    You’ve heard them on the radio and seen them on TV. They make promises about eliminating your debt in no time at all, at no cost to you. All you have to do is make the phone call and your debt can be put in the past. Well this sounds great, and your first conversation may go great, too. However, debt consolidation programs like to put all of the exciting benefits and the promise of a better tomorrow at the front, so you don’t see what lives behind the curtain.

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    (Video) Why File Chapter 7 Bankruptcy With Kain & Scott In Duluth

    Posted by Wesley Scott on September 29

    For so many of our Duluth, Minnesota guests, they know they want to file bankruptcy, they just need to find out which Minnesota bankruptcy law firm is right for them. With so many to choose from it can be overwhelming. I hear some of our guests say a bankruptcy lawyer is a bankruptcy lawyer right? Aren’t they all the same? No, they are not all the same and we all have different business models.

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    (Video) Filing Chapter 7 Bankruptcy In Duluth From Home

    Posted by Wesley Scott on September 28

    I am high anxiety. If I were a non-attorney facing overwhelming debt, I would prefer not to meet with someone face to face. Some people are like me, high anxiety, and prefer not to meet with a lawyer to discuss this face to face. But, there are other options. At Kain & Scott, we have a unique 4 step process to filing a Chapter 7 bankruptcy, all from the comfort of your own home.

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    The Difference Between Exempt & Non-Exempt Property in Minnesota

    Posted by Kelsey Quarberg on September 27

    Chapter 7 bankruptcies are known as the “Liquidation” chapter of bankruptcies. That doesn’t mean the judge is going to pull up in front of your house with a moving truck, load up your stuff, and drive away. Instead, it means the court labels your property as either “exempt” or “non-exempt” based on either federal or state laws. Your non-exempt property can either be: 1) surrendered to your Chapter 7 trustee, 2) “purchased” from your bankruptcy estate, 3) or abandoned by the Chapter 7 trustee. Here, I will first discuss the differences between exempt and non-exempt property. Then, I will discuss the three non-exempt property options.

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    The Equifax Data Breach: How To Ensure It Doesn’t Affect Your Credit Score

    Posted by Margaret Henehan on September 26

    That’s probably what a lot of people thought when they first heard of the Equifax breach last week. After a bankruptcy rebuilding your credit score quickly is important. You don’t want anything getting in the way like a data leak. There have been a lot of mixed messages on what to do to protect yourself, now that most likely, your social security number, birth date, address and other personal information is floating around the universe. The breach affected 143 million people, which is basically every adult living in the United States.

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    Wesley Scott & Al Franken Discuss Student Loan Discharge In Bankruptcy

    Posted by Wesley Scott on September 25

    Wesley Scott is the managing partner at Minnesota’s oldest bankruptcy law firm, Kain & Scott. On September 14, 2017, Mr. Scott met with Senator Franken’s team, in Washington D.C., to discuss discharging student loan debt in bankruptcy.

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    How to File for Chapter 13 Bankruptcy

    Posted by William Kain on September 23

    If you’re filing Chapter 13 bankruptcy in Minnesota, you may be aware of the stress and time-commitment required when filing your bankruptcy petition without an attorney. But did you know that with the wrong bankruptcy attorney the process can still be long, difficult, and stressful?

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    Why You Shouldn't Fear Filing for Bankruptcy in Minnesota

    Posted by Erick Bohm on September 22

    Fear of the unknown is one of the most difficult emotions to grapple with. When it comes to bankruptcy, most people are fearful because they don’t know what the future has in store. Let me be the first to tell you, everything is going to be ok. People are fearful of bankruptcy because of what they’ve heard from others. There’s a good chance, however, these people don’t know what they’re talking about. Bankruptcy is a great option for individuals who are overwhelmed with debt. If you’re tired of the overwhelming pressure debt has caused in your life, we can help.

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    What is a Priority Creditor - Part 2

    Posted by William Kain on September 21

    Last week, I wrote about priority debt - the type of unsecured debt that Congress decides should take priority over general unsecured debt in a bankruptcy case. Holding priority debt can be very beneficial for creditors, since in a chapter 7 case, all priority debt is paid, in full (if there are sufficient funds available) before any general unsecured debt is paid, and in a chapter 13 case, all priority debt must be paid in full in order for a chapter 13 plan to get confirmed and for the chapter 13 debtor to receive a discharge.

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    What Happens to Your Tax Debt After Bankruptcy?

    Posted by Margaret Henehan on September 20

    Many people I speak with are interested in finding out what debts are not dischargeable in a bankruptcy. Meaning what debts will still remain after a bankruptcy. Tax debt is the most tricky debt to deal with in bankruptcy because there are so many rules in place that must be followed in order to determine whether tax debt can be discharged in a chapter 7 bankruptcy.

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    (Video) Filing Chapter 7 Bankruptcy In Eden Prairie, Minnesota

    Posted by Wesley Scott on September 19

    What is a Chapter 7 bankruptcy in Eden Prairie, Minnesota? It is the same thing it is all throughout the state of Minnesota. Bankruptcy law is based on federal bankruptcy statutes, not state law. So, what Chapter 7 bankruptcy is in Eden Prairie, Minnesota is the same thing it is all across Minnesota. Chapter 7 bankruptcy is like hitting a reset button on your financial life.

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    Why Should I File Chapter 13 Bankruptcy?

    Posted by Wesley Scott on September 18

    If there was a win-win solution for your debt, would you take it?

    In life, as well as in finances, there are very few circumstances that could be properly called a “win-win.” As such, it is normal to be wary of promises of a win-win solution, especially in terms of eliminating your debt.

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    5 Questions to Ask an Attorney During a Free Debt Consultation

    Posted by Wesley Scott on September 16

    Making the decision to file bankruptcy is not easy. Most people struggle with how to handle their financial problems and only come to the conclusion to file bankruptcy after considering all other alternatives. By the time you arrive at a bankruptcy attorney’s office for a free debt consultation, you’ll have dozens of questions to ask the attorney about the bankruptcy process. While you will likely have questions to ask an attorney that are specific to your situation, it is beneficial to add the following questions to your list of topics to discuss:

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