The decision to file a Chapter 13 bankruptcy case is not something that most individuals take lightly. It is only after thorough consideration, and with the advice of an experienced bankruptcy attorney, that most individuals commit to reorganizing their debts through the bankruptcy process. Filing a Chapter 13 bankruptcy has many benefits, including saving your home from foreclosure, stopping repossession and even keeping you from going to jail if you are behind on domestic support obligations. However, one major advantage that is often overlooked about filing a Chapter 13 case is the appointment of a Chapter 13 Trustee.

Some people are faced with taxes that they cannot pay because of a lost job or the loss of a spouse’s income. Others may have increased the number of exemptions they claimed during the recession so they could put more money into their pockets each pay period and they are now facing huge tax bills. Whatever the reason may be for owing back taxes, bankruptcy may have the solution for your tax problems. Most personal taxes are not eligible for a discharge through bankruptcy; however, there are exceptions to the general rule. Plus, filing bankruptcy can help you with your back taxes in other ways.

Our aim in this blog is not to discredit or offend other attorneys; our purpose is to inform individuals of the benefits of hiring a Minnesota bankruptcy lawyer verses a general practice attorney when you are contemplating filing bankruptcy. There are some types of law that are very specific and unique in how they are practiced and the rules that govern them that they require a special expertise in order to effectively represent clients. Bankruptcy comes to our mind because that is our specialty, but others include tax law, international corporate law, complex product liability and copyright and patent law.

Debt is stressful and facing debt problems alone can be overwhelming. That is why you need experienced Bankruptcy Attorneys in Roseville, MN you can trust working on your behalf to find a cost-effective solution to your debt problem. Dealing with debt collectors and collection agencies while trying to provide for your family can leave you feeling as if there is no hope.

For many debtors, debt consolidation programs do not work. In fact, many people who file bankruptcy have already tried to resolve their debt problems by contacting one of the many debt consolidation programs that are advertised. These companies claim that they can resolve debt problems for pennies on the dollar, when in fact they are more concerned about making a profit than finding real debt solutions for their clients.

What happens when you file bankruptcy? Firstly, the automatic stay provisions under the Bankruptcy Code prohibit your creditors from contacting you regarding your debt. Filing bankruptcy stops creditor harassment and those annoying and frustrating creditor calls. However, you are probably wondering what the process looks like - when will you have to go to court, how many times, what a trustee does, how long it takes, etc. We answer questions like these each day as bankruptcy attorneys.

Congratulations, you have successfully completed your bankruptcy and you are ready to take your first steps on the road to rebuilding your finances. A very important element of any sound financial plan is budgeting. Some people believe that budgeting is too difficult or that budgeting is only a way of denying yourself what you truly want. On the contrary, budgeting makes it possible for you to achieve the things you want by helping you manage your money. Budgeting can also help you save more money by revealing any issues or incongruences between your income and your expenses.

Student loan debt is a serious problem in America. As an increasing number of individuals choose to further their education by taking college courses, the amount owed from student loans has inched increasingly higher each year. Student loan debt now exceeds credit card debt as the leading debt problem in America. Currently, there is about $1.2 trillion in student loans owed by college graduates and current students. College graduates are completing their education and entering the job market burdened with a crushing debt load and years of student loan payments ahead of them.

If you have ever experienced a financial crisis or have gotten behind on payments to a creditor, you have probably dealt with a collection agency. A collection agency is a company that is hired by your credit card company to collect the debt you owe on your credit card. Collection agencies use different tactics to collect debt but a collection agency can also be more flexible in arranging for repayment of that debt. However, once your credit card account is turned over to a collection agency, you will likely begin to feel the impact, for example:

Are you considering filing for bankruptcy relief? It is possible to do this on your own (without a bankruptcy attorney). You will have to act as your own legal representative – which requires an understanding of the Bankruptcy Code, not to mention court etiquette and filing procedures. Incompletely or improperly filing bankruptcy will cause more headaches and issues than you had to begin with. Once you file a bankruptcy case, you may not be able to undo any mistakes you make while representing yourself.

Dealing with overwhelming debt and coping with the stress associated with a financial crisis creates emotional burdens and causes damage to your financial well-being. However, bankruptcy provides a real solution to a variety of difficult financial situations. For example, a debtor can discharge or “wipe out” unsecured debts through the filing of a Chapter 7 bankruptcy case or reorganize debts into a manageable repayment plan through a Chapter 13 bankruptcy case. Through the bankruptcy process, debtors learn where things spun out of control and how to handle or prevent debt in the future. In addition, when the bankruptcy case is completed, you are able to begin rebuilding your financial affairs.

Many clients ask what life after bankruptcy will be like and how long it will take to recover from filing a bankruptcy. For most, life after bankruptcy is much less stressful. You will be filled with an overwhelming sense of relief as bill collectors stop calling, creditors stop breathing down your neck and you can finally see hope for your future, free from the burden of debt. You’ll get to feel optimistic about your future again, happy that you can start fresh and begin to recover and rebuild. No matter what emotions are felt after a bankruptcy is complete, there is one common thread that weaves itself through life after bankruptcy -- the ability to learn from past financial mistakes.

Because each person’s financial situation is different, it is difficult to answer these questions without first taking the time to fully understand the circumstances that brought you to this point. Some debtors have the ability to repay some or all of their debts if they are given the opportunity to reorganize their debts into a manageable repayment plan. On the other hand, some debtors do not have any funds available to pay creditors after paying for their basic living expenses. This is the purpose of having different types of bankruptcy, so that debtors may find relief under the bankruptcy code according to their specific financial needs.

If you fear going to the mailbox each day because you dread seeing collection letters, you are not alone. Many Americans are unable to pay their bills and they are facing the same financial stress that you are experiencing. Even with the restrictions imposed on collection agencies through the Fair Debt Collection Practices Act, collection agencies still find ways to harass people in an attempt to collect a past due debt. For most people, this becomes an ongoing nightmare as their financial situation worsens and the collection letters not only continue but also become increasingly threatening and ominous.

For anyone familiar with bankruptcy and student loans, you may be wondering how these two topics could have anything in common. First, bankruptcy is designed to relieve you of your debt. On the other hand, incurring student loans places you in debt. Furthermore, student loans are typically non-dischargeable (there are exceptions in some cases) in bankruptcy making them one of the few unsecured debts that survive a bankruptcy filing. It would seem that these two concepts would be the exact opposite of each other; however, there are similarities between bankruptcy and student loans.

As consumers, we spend billions of dollars each year on goods and services, both online and in traditional stores. An increasing number of those purchases are made with some type of credit. As debt has increased, the need to protect consumers against credit fraud and unfair or deceptive trade practices has also increased. The Federal Trade Commission (FTC) is the federal agency that enforces consumer protection laws. Below are descriptions of the three most well known consumer protection laws and details about how each one is designed to protect you against unfair creditor practices.