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.

 

    8 Pros and Cons of Bankruptcy

    Posted by William Kain on July 6

    If you are struggling with debts and dealing with creditor harassment, you are not alone. Many Americans are facing the same situation because they are unable to meet their financial obligations due to the loss of a job, a medical illness or the loss of a spouse. Whatever the reason, stress from unpaid bills is draining both emotionally and physically.

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    High Interest Breaking Your Bank? Here’s How Chapter 13 Bankruptcy Can Help

    Posted by Erick Bohm on July 5

    Have you recently bought a new car for a good deal then got bogged down by a high interest rate? If so, you’re not alone. Many of our clients come to us with incredibly high interest rates on vehicles. This is because lenders know everyone needs a vehicle and in most places, especially outside of major metropolitan areas, public transportation is very sparse. So, regardless of credit they'll still give you a loan, but if you've got bad credit they'll take you to the cleaners in interest. When this happens, it usually doesn’t matter how good of a deal you got, here's why:

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    Get Debt Free through These Types of Bankruptcy

    Posted by Wesley Scott on July 3

    Constantly feeling like you are trying to catch up, while preventing yourself from falling further behind, is exhausting. The longer this drags on, the more tired and discouraged you become. Financial stress is known for causing personal health problems as well as relationship issues.

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    Get Debt Free With Brooklyn Park, Minnesota's Nicest Bankruptcy Law Firm

    Posted by Erick Bohm on July 2

    Are you ready to seize your financial independence from debt in Brooklyn Park, Minnesota, this Fourth of July?
    Independence Day is here and, in addition to fireworks, cookouts, and family, the holiday has many Americans considering the true meaning of independence. Sure, you may have your own house, car, job, and lifestyle, but are you really independent? Or are you shackled by the weight of outstanding debt?

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    Avoid Bad Apples: Best Bankruptcy Lawyers in Apple Valley, MN

    Posted by Wesley Scott on July 1

    Are you searching for the Best Bankruptcy Lawyers in Apple Valley, Minnesota, but are afraid of hiring an attorney that is a “bad apple”? The right bankruptcy lawyer can help you erase your debt and get a fresh financial start, whereas the wrong bankruptcy attorney can turn your dream of being debt-free into a nightmare.

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    How Do I Reduce My Minimum Payment to Creditors?

    Posted by Wesley Scott on June 30

    If your financial situation is spinning out of control and you are no longer able to make your full monthly payments on time, something needs to happen. Or, perhaps you are already in a debt management program and aren’t able to keep up with your already lowered monthly payments. There are two things that can be done.

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    Learn What To Expect From Your Free Bankruptcy Consultation

    How To Find The Best Bankruptcy Lawyers In Minneapolis, MN

    Posted by Margaret Henehan on June 29

    Is debt going to ruin your summer in Minneapolis, Minnesota?

    Summer is officially here and with it comes all the joys of the season: barbecues, swimming, fireworks, vacations, family gatherings, camping, and all the other favorite pastimes that come when the temperature rises. The kids are home from school, the days are longer, and the air is heavy with possibilities and promise.

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    The Role of a Chapter 13 Trustee in Your Bankruptcy Case

    Posted by Wesley Scott on June 28

    A chapter 13 trustee will be assigned to your case when you file for bankruptcy. Think of the chapter 13 trustee’s role in your bankruptcy case similar to the role an account manager plays. This individual is appointed by the court and will manage your case from the beginning, through your entire repayment plan, at which time you will receive a discharge.

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    MN Bankruptcy: Finding The Best Bankruptcy Lawyer In Champlin

    Posted by William Kain on June 27

    Are you in danger of drowning in debt in Champlin, Minnesota? Do you think bankruptcy is the lifeline you need to save yourself from being swept away by thousands of dollars in unpaid balances?

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    How To Keep Your Car When Filing a Chapter 7 Bankruptcy

    Posted by Wesley Scott on June 26

    Two of the most common bankruptcy myths lead people to believe that you will lose everything you own and you will never be able to own anything in the future. Both of these are false. Most people who file bankruptcy don’t lose anything and in the future you can buy, own and possess whatever you can afford to make payments on. One of those necessary and often treasured possessions debtors fear losing is their vehicle – their mode of transportation.

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    Collection Agency Collection Tactics

    Posted by William Kain on June 26

    If you do not make payments to your creditors they may choose to hand over or sell your debt to a collection agency. If this happens you now owe the collection agency that money you owed your creditors. Collection agencies function to collect the money you owe. The debt collection industry has gained a bad reputation for performing illegal collection and scare tactics to get you to give them money. They do have the right to make attempts at collecting on your debt, but there are guidelines and parameters they must respect.

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    How To Get Credit After Filing Chapter 7 Bankruptcy - Part 2

    Posted by William Kain on June 24

    Last week, I wrote about the challenges of accessing credit after filing a Chapter 7 Bankruptcy case. I concentrated on retail charge cards and revolving credit cards as two commonly-desired credit products that can be accessed after a bankruptcy case has been filed, and the debtor has received a discharge. This week I will look at the mechanics of obtaining approval for credit cards. Then I will look at the challenges of larger credit products - particularly vehicle loans and real estate mortgage loans.

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    5 Ways to Stop Creditor Harassment

    Posted by William Kain on June 23

    Best-ways-to-eliminate-credit-card-debt.pngDo any of the following situations sound familiar?

    • Do you have creditors breathing down your neck, constantly applying pressure on you for payment?
    • Are you at the point where you have stopped answering the phone, hoping the important callers will leave a message, just to avoid talking to your creditors?
    • Are you constantly worried when your employer will be contacted and your paycheck will start being affected?
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    What Not To Do During The Bankruptcy Process in Minnesota

    Posted by William Kain on June 22

    When you enter into the Bankruptcy Process in Minnesota, or in any state, you should avoid making these common mistakes. Working with a bankruptcy attorney, if you are open and honest and trust your lawyer, will generally ensure you don’t unintentionally do anything you shouldn’t.

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    Stipulations for Receiving a Chapter 7 or 13 Bankruptcy Discharge

    Posted by Wesley Scott on June 21

    A discharge is a legal term used during bankruptcy and refers to the elimination of your liability from your debts. If you file Chapter 7 your discharge will be granted immediately upon case closing or if you file Chapter 13, your discharge occurs after you complete your repayment period.

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    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.

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