The purpose of filing a Chapter 7 or Chapter 13 bankruptcy case is, plain and simple, to discharge debt - to make debt that has overwhelmed a debtor and his family “go away.” In order to receive a discharge, the bankruptcy debtor must comply with the provisions of the bankruptcy code. So legally proper papers must be filed with the bankruptcy court, all assets and liabilities identified and relevant financial transactions disclosed. The bankruptcy debtor has to attend a meeting with the case trustee, and must cooperate with the trustee and follow court orders to receive a general discharge.  

You have hit the wall. You live in Minneapolis and you have lived with overwhelming debt for years. You juggled the debt as long as you could and then the house of cards came crashing down on you. You stopped paying the bills altogether and simply buried your head in the sand. When life crashes around sometimes the best coping method is to put your ear plugs in and your helmet on and let the world around you crash and burn. When you are down and out, sometimes you cope by simply ignoring it because that is what you mentally need to do. 

Whether you file for Chapter 7 or Chapter 13 Bankruptcy in Minnesota, there are options for making sure you can keep your house.  One of the common misconceptions about bankruptcy is the one about losing your home.  Whether you have no equity, or some equity in your house, the Federal Bankruptcy Code and Minnesota bankruptcy statutes have provisions that allow you to protect your house.  The most important part is, keep making your mortgage payments.  However, if you’ve fallen behind, don’t worry.  We also have options for making up missed payments. 

Bankruptcy is something many of us have thought about during our most difficult financial hardships. It is a wonderful tool designed specifically to help people with money problems gain the financial foothold they need to begin recovery. There are those who would exploit this legislation however which has led to a number of revisions in the bankruptcy code over the last several years. The most notable updates to the bankruptcy code in recent date came in 2005 which not only made the process more difficult to abuse but also more difficult to qualify for to those who truly need the financial help and recovery. We will be examining the rules surrounding residency and their purpose so that you may understand how this applies to your specific case. It is always best to consult with experienced MN Bankruptcy Lawyers to be sure your individual circumstances are address which our friendly staff would be happy to do for you but first let’s get started with the basics of how residency affects filing bankruptcy in Minnesota.

The decision to file bankruptcy can be a difficult one and after the process of reviewing your finances and goals you will need to determine which type of bankruptcy is right for you. While chapter 7 bankruptcy completely eliminates the majority of our debts it is not always the best option for all of us. Some of us may not be able to meet the requirements to file chapter 7 bankruptcy and in these instances Chapter 13 can be an extremely effective tool for recovering from financial difficulty and regaining control over debts and obligations. Our staff of experienced Roseville MN Bankruptcy Attorneys are able to determine which type of bankruptcy is right for you and it is important you are aware that you have options. We will be discussing the steps involved with a chapter 13 bankruptcy so that you may familiarize yourself with the process and consider if a chapter 13 bankruptcy makes sense for you and your future.

Paying your bills is what we all want to do. No one likes the idea of not paying debt we incurred. The idea of drowning in debt is scary and the mentioning the “b” word is even scarier. Human beings are all the same. At heart, I believe most of us would rather claw our own eye balls out than not pay our bills. And yet, life interferes with our best plans. 

One of the worst things about having money problems is the feeling people with these problems have that they are alone and isolated - that no one else has these problems. It is easy, if you are in a situation where debt problems have overwhelmed you, to feel as though you are the only person facing these problems. Nothing could be further from the truth. The truth is that many famous people have filed for bankruptcy protection. Some well-known people filed bankruptcy before they became well-known; some filed at the height of their fame. It’s good to know that even people who seem to have everything have money problems. And it’s very good to know why a well-known person filed bankruptcy case - that can help explain the circumstances in which bankruptcy can help individuals with financial problems. Let’s take a look at some familiar names who have filed a bankruptcy case, and why.

Once you have completed the process of Filing Bankruptcy in Roseville and have been granted your discharge you may be under the impression your work is done and for the most part this is true. However there still remains the important task of assuring your credit information is reported correctly and updated with credit reporting agencies. This is an essential component to beginning your renewed financial stability because most of us will eventually need new credit and financing following our bankruptcy discharge.

This is not easy stuff folks. The amount of courage it takes to reach out for help cannot be understated. Most of our clients in Minneapolis are embarrassed to find themselves in debt and often scared to reach out for help. However, equally nerving is not being able to pay your bills and worrying that you might be living in a card board box soon. There is hope. Debt is simply a problem to be solved and nothing more. It’s no different than having an infection in a really embarrassing location. The medical staff does not find it embarrassing, they just need to find the solution to the problem. That is the same for Minneapolis Bankruptcy Lawyers . Our laser focus is to solve your debt problem for good.

Filing a bankruptcy case in Minnesota is, for almost everyone, a fairly straight-forward process: a person facing financial difficulties meets with an MN Bankruptcy Attorney well-versed in bankruptcy practice and, during that (or subsequent) meetings, the person decides to file a bankruptcy case. Once the lawyer is retained, the lawyer’s office, with the assistance of the bankruptcy client, prepares a petition, schedules and statements identifying the debtor, listing assets, liabilities, income and expenses, together with disclosures of any financial transactions in which the debtor has engaged during defined periods prior to filing the bankruptcy case.

Are you struggling with overwhelming debt? Has it become too difficult to manage? If so, these struggles have probably taken toll on the rest of your life as well. When dealing with a major debt problem it can be very difficult to stay happy and focused. Fortunately, if you’re dealing with overwhelming debt right now there are a few easy ways out that our Roseville MN Bankruptcy Lawyers can help you with. One of the easiest, available to all who qualify, is a Chapter 7 Bankruptcy. In this article we will discuss the key components of a Chapter 7 Bankruptcy so that you can learn what to expect during the process and determine if Chapter 7 would be a good option for you.

Ok, so you know you need to file for bankruptcy, but still want to know what’s going to happen to your debt?  More importantly, you want to understand what’s going to happen to your belongings?  Well, the annoying answer to these questions is “it depends.”  In Minneapolis, you are fortunate to have the option of using the rules provided for in the federal bankruptcy code or the benefits provided for under Minnesota Statute.  Depending on your specific situation, it may be more advantageous to use one set of rules over the other.  Before we dive into the discussion about your assets, we’ll take a look at what type of debts you can discharge through bankruptcy.

Kain & Scott has been in existence since 1972. As Minnesota’s oldest Bankruptcy Law Firm, our MN Bankruptcy Lawyers have seen a thing or two about the Bankruptcy Process evolution that has taken place in Minnesota over the years. I can remember when I came aboard the firm in 1997, we would file bankruptcy cases with the bankruptcy court my mailing 3 copies of the petition and schedules to the bankruptcy court. You never knew which day was going to be your date of filing because you never knew exactly when the bankruptcy court would receive your package of copies.

So you live in Roseville MN and you had one of the 5 events happened to you which resulted in overwhelming debt: 1) business failure; 2) income drop; 3) divorce or relationship break up; 4) medical problems; 4) bad financial decisions (we have all made them). You are stressed out because you are falling behind and you can’t keep up. That uneasy feeling of slowly drowning in debt, suffocating, and you can’t seem to pull out of it. If you are a human being you will feel your tummy churning and just a depression hanging over your head. 

Bankruptcy is a well-established financial tool that has been a means of successful financial recovery and ongoing stability for many people all across Minneapolis.  Many Minneapolis residents will File Bankruptcy this year so that they can start 2017 with a fresh new financial start.  Among the many bankruptcies that will be filed a small percentage of them might be attempted to be filed “pro se” without the aid of an experienced Minneapolis Bankruptcy Lawyer.  Although it’s not required by law to retain a Bankruptcy Lawyer in order to File Bankruptcy in Minneapolis there are many advantages to doing so.