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.

 

    How To Qualify For Chapter 7 Bankruptcy Regardless Of Your Income

    Posted by Erick Bohm on June 20

    Chapter 7 Bankruptcy provides nearly one million debtors each year with the relief they need from overwhelming debt. Whether or not Chapter 7 Bankruptcy is the best option for you depends on a number of considerations. During your initial consultation with one of our MN Bankruptcy Attorneys we will get to know you and your situation. We will ask a number of questions to fully understand the situation you’re confronted with. After getting to know you and your situation, we will provide you a recommendation on how we think you should move forward. In this blog, we’ll discuss what Chapter 7 is, Chapter 7 filing requirements, and the Business Debt Exception to the Chapter 7 Means Test.

    Read More

    Getting Access To Credit After Chapter 13 Bankruptcy

    Posted by Wesley Scott on June 19

    Over the last three weeks I wrote about the ability of Chapter 7 debtors to access credit after receiving a bankruptcy discharge. Now, let’s look at the ability of Chapter 13 debtors to access credit - and because of the length of time Chapter 13 debtors are “in” their bankruptcy, I’ll deviate a little from the title of this blog and look at the ability to access credit during the time a Chapter 13 debtor is “in” her bankruptcy, as well as access to credit after the Chapter 13 discharge is entered.

    Read More

    Chapter 7 Bankruptcy Process

    Posted by Wesley Scott on June 18

    To initiate the chapter 7 bankruptcy process you must file a petition. Along with this petition you must file the following:

    • Schedule of assets & liabilities
    • Schedule of current income and expenditures
    • Statement of financial affairs
    • Schedule of executor contracts and unexpired leases
    • Copy of the most recent tax year tax return or transcript
      • Previous unfiled tax returns
      • Tax returns filed during the bankruptcy case
    • Certificate of credit counseling (copy of debt repayment plan completed during credit counseling)
    • Evidence of payment from employers received 60 days before filing
    • Statement of monthly net income (plus any anticipated increase in income or expenses after filing)
    • Record of any interest in federal or state qualified education or tuition accounts
    • Schedule of exempt property
    Read More

    The Benefits of Utilizing a Chapter 13 Bankruptcy Attorney

    Posted by Wesley Scott on June 17

    Using a Bankruptcy Attorney to help you File a Chapter 13 Bankruptcy will be one of the best decisions you make, apart from your initial decision to get your life and finances back on track by filing bankruptcy. The bankruptcy code, court procedures and filing forms are saturated with legal jargon that will complicate the overall bankruptcy process if you don’t have the assistance from a legal professional. 

    Read More

    How a Chapter 7 Bankruptcy Can Alleviate Your Stress

    Posted by Wesley Scott on June 16

    Your stress will begin to diminish the day you decide to file Chapter 7 bankruptcy. Taking action against your debts will take some of the pressure off – but taking action to abolish your debt completely will have you sleeping peacefully at night.

    Read More

    What Are My Options for Personal Bankruptcy | Chapter 13

    Posted by William Kain on June 15

    Chapter 13 Bankruptcy is right for you if you are experiencing a temporary setback causing you to be unable to make your payments. This option provides time, allowing you to get back on schedule with your finances. You will make monthly payments though they will be reduced, interest-free and your life will be void of collection agency harassment. Chapter 13 protects your property, prevents foreclosures and repossessions and prohibits wage garnishments.

    Read More
    Learn What To Expect From Your Free Bankruptcy Consultation

    The Chapter 13 Bankruptcy Process In Minnesota

    Posted by William Kain on June 14

    You begin a Chapter 13 Bankruptcy by filing a petition. Following the petition you must also file the following documents with the court:

    Read More

    The Best Bankruptcy Lawyers in Buffalo, MN

    Posted by Margaret Henehan on June 13

    “Debt is like any other trap, easy enough to get into, but hard enough to get out of.”

    When Henry Wheeler Shaw made that statement over 150 years ago, he may not have been thinking about Bankruptcy in Buffalo, Minnesota but it is almost eerie how true that statement holds today.

    Read More

    How to Stop Wage Garnishment in Minnesota

    Posted by William Kain on June 12

    When your debt goes unpaid for an extended period of time, creditors begin to take severe action to get their money from you. Depending on the nature of your debt, creditors may initiate foreclosure, repossession, bank levies or wage garnishment. Foreclosure and repossession are reserved for secured debt, meaning creditors can take back the property you secured against your loan. A bank levy, also referred to as non-wage garnishment, occurs when your bank account is frozen due to a creditor seeking payment from you. This and wage garnishment are common tactics used to collect on unsecured debt, such as credit card debt.

    Read More
    Download our Free Debt Solutions Comparison Chart

    What Are My Options for Personal Bankruptcy | Chapter 7

    Posted by William Kain on June 11

    Chapter 7 Bankruptcy is right for you if you have no assets to lose and, after paying basic monthly expenses, you have no money left to pay off debts. It gives you a fresh start and can alleviate your stress by removing your liability for repaying debt. Primary priorities for Chapter 7 filers should be to keep exempt assets and be relieved of all liability for as many debts as possible.

    Read More

    3 Of The Most Common Bankruptcy Misconceptions in Minnesota

    Posted by Wesley Scott on June 10

    Filing for bankruptcy can give you a chance to start over financially. Knowing the correct information about this process and its potential results is absolutely necessary when considering whether or not to file. Bankruptcy is a legal proceeding, which means it is surrounded by legal jargon. This can make sorting through the massive amounts of bankruptcy related information complicated.

    Read More

    Finding Debt Consolidation Solutions for Your Financial Situation

    Posted by Wesley Scott on June 9

    Debt consolidation consists of combining all of your unsecured debt payments into one. This may involve taking out a loan, entering into a debt consolidation program or Filing Chapter 13 Bankruptcy. Now, what are unsecured debt payments?

    Read More

    How To File Chapter 7 Bankruptcy in Monticello, MN

    Posted by Wesley Scott on June 8

    If you live in or near Monticello, MN, and you are suffering from overwhelming debt, what is the first thing you need to do? That is what our guests really want to know. They ask me all the time- Wes, what is the first step I need to take? If you are like me, you like to do a little research before you set up an appointment to meet with someone right? Like what are the answers to some of my commonly asked questions?

    Read More

    A Personal Account of the Minnesota Bankruptcy Process

    Posted by Wesley Scott on June 7

    The Minnesota Bankruptcy Process isn’t as scary, threatening or intimidating as many believe. In fact, if you have an attorney on your side, these fears will likely be non-existent. It also helps to know that you are not alone. Many people visit bankruptcy attorneys every year – to seek advice, comfort and often assistance through the bankruptcy process. Here is an example of a young couple’s financial struggle and journey to debt freedom, it represents a common set of circumstances we see fairly frequently.

    Read More

    The Difference Between An Average And Great Bankruptcy Lawyer in Plymouth, MN

    Posted by William Kain on June 6

    If you’re filing for bankruptcy in Plymouth, Minnesota, you’ve probably imagined how much better life will be once your debts are erased. You’ll have a comfortable home, nice car and a little money in the bank. Best of all, you can relax knowing that you are completely debt-free and have a fresh start to begin rebuilding your life.

    Read More

    Find The Best Bankruptcy Lawyers In Anoka, MN

    Posted by Wesley Scott on June 5

    If you’re desperately seeking the Best Bankruptcy Lawyers in Anoka, Minnesota, you have two options:

    Option 1: drop everything—work, family, household chores—and dedicate your days to researching the hundreds of Bankruptcy Attorneys in Anoka. Call each office and set up potentially expensive consultation appointments with the most likely candidates. Then, take a chance on one of them and hope that they file your bankruptcy correctly and quickly. 

    Read More
    All posts

    Recent Posts

    Topics

    Bankruptcy

    Budgeting

    Business Debt

    Chapter 7

    Chapter 13

    Credit

    Debt

    Filing Bankruptcy

    Student Loans

    Post Filing

     

     

    OR

    You Can Also Filter By Category


    All posts
    Take the first step toward getting your life back Let us help you get started on your road to a debt-free life Sign Up for a Free Consultation

    LifeBack Law Firm Offices


    © 2023 Lifeback Law Firm, P.A. | Disclaimer | Privacy Policy | Sitemap

    Law Firm Marketing by Gorilla Webtatics.