Minnesota is truly unique in many ways! We are at the forefront of technology in many industries including science and medicine yet still rich in agriculture across many small rural communities.  In simpler times our communities were comprised of essential service providers and civil offices. Then we grew, prospered and began to expand. With that came opportunity and competition.

When I feel down and out, I want someone on my side, going to bat for me, picking up the slack for me, because in the moment, I feel weak, and low energy. When you suffer from overwhelming debt, the last thing you need is an Eagan MN Bankruptcy Lawyer that is stuffy, mean, and makes you do most of the work. Have you ever talked to someone and you know they are speaking to you in a condescending tone? I don’t like it- at all!

The world is noisy isn’t it? I think it is. It seems like so much of life is fleeting and superficial. I am not trying to drowned you in despair- at all. Heck, I think the quiet moments in life, those moments when you lean back and reflect on life’s events are the real crown jewels. At 47 years of age, I can tell you that the one thing I have learned about life is how humbling it really all is.

Last week, I wrote about the Bankruptcy Act of 1898 - the first “permanent” bankruptcy law in the United States. The 1898 law came about as Congress’s reaction to the financial panic of 1893. There had not been a national bankruptcy law since 1873 when the 1867 law, like the two previous attempts at federal bankruptcy law, was repealed. The abuses of the previous bankruptcy laws had hardened political opposition to a federal bankruptcy system. However, by 1898, creditors were experiencing extreme difficulty in collecting even a portion of debts owed to them in some states, due to those states’s debtor-creditor laws.

Now that you’ve decided to file bankruptcy, there are a few things you want to make sure you stop doing. You need to stop using credit cards, stop paying off certain debts, and stop transferring property. This is not an exhaustive list, of course, but when in doubt, discuss any concerns you have with your MN Bankruptcy Attorney.

Honesty between you and your attorney is paramount when disclosing information about your estate. As Dr. Kent M. Keith says in his book Anyway: Paradoxical Commandments for Christians, “Honesty and frankness make you vulnerable. Be honest and frank anyways”.

Every year, Minnesotans who live in and around Minneapolis get their lives back and celebrate their new life with enthusiasm. If you are one of those people who filed Chapter 7 or Chapter 13 Bankruptcy and live here or anywhere else in the twins cities metro area, and you now have your life back, please know how much I am proud of you!

If you haven’t been living under a rock for the last several years I’m sure I don’t need to explain to you how much DIY information we have available to us online. It’s everywhere! We’ve all used Google or YouTube before to figure out how to do something that we had no idea how to do in the first place. It feels good to accomplish things on our own. However, as good as it might feel it’s just as good to know our limitations. Especially when it comes to filing bankruptcy. Sure, there are several informational guides that outline the process online, but in order to avoid any complications you’ll always be a lot better off and happier working with an experienced and professional Minneapolis Bankruptcy Lawyer. Here’s why:

This is a source of great confusion in the marketplace. If you own a business, does the business need to file bankruptcy or you? Can I just file on business debts and not my personal debt? These are all great questions.

If you’re reading this blog, it’s likely you were kind enough to co-sign on a debt with someone, but that certain someone fell behind on payments. Since they fell behind on their payments, it’s likely the creditor is trying to collect the debt from you. If you’re experiencing this, don’t worry. We can certainly help you.

It is one of the top concerns of any Minnesotan filing for bankruptcy protection. What will this do to my credit? Will bankruptcy damage my credit forever? How can I repair my credit as fast as possible? Many of our guests say I would have filed bankruptcy sooner had I known I could repair my credit fast. And now you can. For the 1st time in Minnesota history, a Minnesota bankruptcy law firm offers a one of kind, exclusive, 90 DAY FREE* CREDIT REPAIR PROGRAM after obtaining a discharge. How does it work? It is easy.

In the previous two weeks, I’ve written about the origins of bankruptcy law. In the first week, I wrote about the formation of debt forgiveness in the ancient world up to the ratification of the Constitution of the United States, and noted that the framers of the Constitution gave Congress the exclusive power to create uniform bankruptcy laws in the United States.

Many people continue to struggle for years with overwhelming debt because of the negative stigma surrounding Bankruptcy. At Kain & Scott our MN Bankruptcy Lawyers speak with clients every day that have one regret - they wish they would have filed sooner!

Last week, I wrote about the historical origins of the bankruptcy law - that the concept of a structured program of debt forgiveness was as old as Moses, and that Julius Caesar had formulated the first bankruptcy law that contained features that continue to this day. At the end of last week’s blog, I referred to Article I, Section 8 of the Constitution, that gave the United States Congress the sole authority to make “uniform” bankruptcy law. This week I’ll look at the historical development of bankruptcy law in the United States, from the time of our nation’s founding, to the present.