As medical costs continue to rise, the ability for individuals to pay off their medical bills is becoming increasingly difficult. In fact, fifty-six million people under the age of 65 will have trouble paying their medical bills this year. These unpaid medical bills and expenses result in three out of every five bankruptcies filed in the United States. Even for individuals who are covered by health insurance, 10 million of those individuals have medical bills that they cannot afford to pay after insurance has paid its portion. For these individuals, filing bankruptcy due to medical bills may be their best option. 

If you research bankruptcy online, you will find some useful information but you will also find a great deal of misinformation. Unfortunately, this misinformation can create doubt, confusion, and fear for a person who is already suffering the stress of dealing with debt problems. You may believe that the bankruptcy timeline is long and complicated; however, our staff is here to help you through each step in the bankruptcy timeline so that you can put the stress and anxiety of debt problems behind you in less time than you think.

Getting out of debt is a great feeling. Many of us want to get out of debt but we do not know exactly where to begin. Having a plan to get out of debt is the first step. When you have a plan and specific goals, it helps you  focus on the steps that you must take to achieve your financial goals. Below are several ways you can improve your financial well-being by taking control of your finances to get out of debt.

We understand that not being able to pay your bills every month is frightening. Being harassed by creditors and debt collectors only increases the level of fear and frustration.

As part of the bankruptcy reform in 2005, Congress enacted a provision in the Bankruptcy Code that requires debtors to complete a credit counseling course, also known as a pre-bankruptcy course, prior to filing bankruptcy. Regardless of the reason why a person may need to file for bankruptcy relief, each person must choose a consumer debt counselor to complete the credit counseling course.

“We don’t judge you, we help you get your life back.”

The Minnesota bankruptcy attorneys at Kain & Scott live and breathe that motto. It wasn’t always written down on paper or hanging on the walls, but it has always been our driving force.

In today’s world, it is oftentimes necessary to take out some form of credit to pay for necessary items such as schooling, vehicles, a home, and emergency needs such as new tires for your car. In times of need, this available credit can be very beneficial. However, when you look at credit from the other side, this credit is now a debt you owe to a creditor. Owing debt is in no way a negative thing; in fact, most everyone you know probably owes some form of debt. If you find yourself in over your head with the debt you owe, a bankruptcy may be the relief you need.

When most people walk into their initial bankruptcy consultation they don’t know what to expect, and in turn this can create some nervous feelings about what is going to happen. A bankruptcy is a big step to take on the road to financial freedom, so here at Kain & Scott we want to make sure that we make our clients as comfortable as possible. From the moment you walk in, you will be treated with the respect, courtesy and dignity you deserve. From the initial greeting with our receptionist to the handshake at the end of our meeting, you will feel comfortable and taken care of.

Over the years we have had the pleasure of helping those in the St. Cloud and Brainerd areas find relief from their overwhelming debt problems. We’ve helped file thousands of Minnesota bankruptcy cases, and receive immense joy knowing we are able to provide our clients with the fresh starts they are looking for.

Finding yourself in over your head with debt problems can feel like a weight constantly weighing you down. We understand that good honest people can face financial troubles out of their control, and because of this bankruptcy attorneys want to help. If you ever find yourself in need of financial help, consider going in to talk with an attorney. Many attorneys offer free consultations, and they by no means require you to file for bankruptcy. Here’s a personal story from a couple I met with recently:

Choosing a Minnesota bankruptcy attorney is a big decision. With there being hundreds to choose from, how do you make sure that the one you pick is right for you? Some factors you may want to consider when choosing an attorney are:

When you file a bankruptcy under Chapter 13, a Chapter 13 trustee will be assigned to your case. Most people refer to this person simply as their “trustee” or “Chapter 13 trustee” but the exact title given to this person by the United States Trustee’s office is the “Chapter 13 Standing Trustee for the District of Minnesota.” There are two Chapter 13 trustees that serve in Minnesota. Each trustee is assigned a specific jurisdiction.

William Kain was born and raised in St. Cloud, MN. He came from a modest home where his parents made financial sacrifices to make sure that their children were provided for. Bill greatly appreciates the sacrifices they made, because he enjoyed going to school and was able to obtain a law degree from the University of Minnesota Law School after graduating from Saint John’s University.

In 1982, after graduating from law school, Bill came back to St. Cloud to practice. Starting off Bill’s focus was not on bankruptcy. However, when the demand for bankruptcy work increased due to the financial crisis that occurred in the agriculture community, he decided to give it a try. From the first bankruptcy case he filed he knew it was a rewarding area of practice for him because he enjoyed working with the clients and enjoyed the end results.

Here at Kain & Scott, one of the most common debts that our clients struggle with is their student loans. Unfortunately, in most cases, student loans are not dischargeable in a bankruptcy case. You may think there is no hope in solving your student loan issues, but we want to assure you that bankruptcy CAN help you. Read on to hear a personal experience from a client who had unmanageable student loan debt.

The first step in understanding your credit score after bankruptcy is to understand how your credit score is calculated. Credit scores are not as complicated as some of us assume. Credit reporting agencies combine information from your credit history with your current financial condition to calculate your credit score. Credit scores are a very important element of your financial well-being as they are used to determine whether you are eligible to receive credit and the interest rate that will be applied to credit that you receive. However, credit scores can now affect several other areas of your financial life including rental applications, insurance rates and cell phone contracts.

Wesley Scott grew up in a humble family of nine children in Foley, Minnesota. His dad worked in a factory and his mother was a work-at-home mom. Not only did his mom take care of her nine children, but she also babysat other children to earn money to feed their family. It was a big family, with lots of love, but little money.