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.

 

    Credit Unions and Bankruptcy in Minneapolis, Minnesota

    Posted by Amanda Scharber on July 15

    Credit Unions typically have more structured policies regarding what happens after a customer files bankruptcy. This blog will explore how banking at a credit union may be impacted after you file your bankruptcy case. 
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    How Can You Tell if You Should File Chapter 7 Bankruptcy?

    Posted by Wesley Scott on July 13

         How can you tell if you should file Chapter 7 Bankruptcy? Suppose Al has credit card debt of 20k and a medical bill for $2,500.00. Al makes the minimum payments but Al is not decreasing the principal balance much and when he is finished paying all of these minimum payments, he has little left over to purchase groceries, pay rent, pay utilities, and vehicle expenses so he can do it again next month.

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    Why the Bankruptcy Attorney You Choose Matters in a Minneapolis, Minnesota

    Posted by Amanda Scharber on July 11

    The thought of filing a bankruptcy can be stressful and nerve-racking. Although, sometimes it is hard to get rid of all nerves and stress, at LifeBack Law we strive to make the bankruptcy process as stress free as we can for our clients. Filing bankruptcy is a big deal, which is why you should feel confident and comfortable with the attorney you hire. 

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    What Does It Mean to Be a Leader at Lifeback Law Firm?

    Posted by Wesley Scott on July 9

    Recently, we gave a project to three LifeBack Lawyers to detail what a leader at LifeBack Law Firm looks like.

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    Exception to Bankruptcy Discharge: Willful and Malicious Injury

    Posted by Col Ovik on July 7

    Not all debts in a bankruptcy are treated equally, and some debts can be excepted from the bankruptcy discharge. Under § 523(a)(6), the creditor must demonstrate "willful and malicious injury by the debtor" to another person or their property, and if a creditor can successfully demonstrate a willful and malicious injury by the debtor the creditor’s claim can be excepted from discharge. 

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    World’s Shortest Blog: How to Start the Chapter 7/13 Bankruptcy Process in Minnesota?

    Posted by Wesley Scott on July 5

    Schedule a Free Strategy session on how to resolve a debt problem for good.

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    Learn What To Expect From Your Free Bankruptcy Consultation

    Asset Concealment in Bankruptcy

    Posted by Col Ovik on July 3

    Debtors should disclose all assets on the bankruptcy schedules, and failure to do so can result in the denial of discharge. If a debtor discovers or remembers an asset was not properly disclosed on the bankruptcy schedules, even if the asset is discovered years later, the debtor should amend the schedules to properly disclose the asset. 

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    Why Do Minnesotans Needing to File Bankruptcy Choose Lifeback Law Firm?

    Posted by Wesley Scott on July 1

         I often reflect on what it would be like for prospects researching which Minnesota bankruptcy law firm to use. There are many claiming to be the best and hey, choose me, choose me! It leaves a prospect to wonder who they should reach out to in the sea of bankruptcy attorneys. 

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    Do I have to go to Court if I File Bankruptcy in Saint Paul, Minnesota?

    Posted by Wesley Scott on June 30

    The prospect of having to go to court can be intimidating and often deters people from filing for bankruptcy, despite the fact that it can bring them tremendous relief from their creditors. Just the thought of having to appear in front of a judge to explain one’s situation and request relief from bankruptcy court from one’s personal debts can seem like a daunting endeavor. The good news is that this scenario is extremely rare, and nowadays, a person can file for bankruptcy, and receive a discharge of their debts, without even having to physically set foot in a courtroom!

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    WHY YOU WILL REGRET FILING CHAPTER 7 BANKRUPTCY YOURSELF

    Posted by Wesley Scott on June 29

        I can recall years ago attending a Chapter 7 Bankruptcy hearing. These hearings are like cattle calls where there are large numbers of debtors waiting to appear before a Chapter 7 Trustee who is responsible for administering your Chapter 7 Bankruptcy case. Typically, 4-6 hearings are held each half hour.

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    Will All of My Credit Accounts Close After Bankruptcy in Minneapolis, Minnesota

    Posted by Amanda Scharber on June 27

    An extremely common question in consultations for bankruptcy is whether all credit accounts will close after filing. Most attorneys will advise you that even if the account is at $0 prior to filing or excluded off of a case, it likely will still close. 

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    Creditors Attending the Bankruptcy 341 Hearing in Minneapolis, Minnesota

    Posted by Amanda Scharber on June 26

    When you file bankruptcy all of your creditors will be informed of the date, time, and instructions for your 341 hearing. The 341 hearing, also known as the meeting of creditors, is your creditors chance to ask specific questions about the information in your case. Although most creditors do not show up for the 341 hearing, some may. 

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    Chapter 7 Bankruptcy and the humility of being alive

    Posted by Wesley Scott on June 23

    You don’t have to reflect on life very long to realize your best plans don’t always work out the way you intended. Who among us wants to be let go from a high paying job? Who among us would love for our business to be an epic fail right from the start? Who among us wants to get married hoping your spouse will turn out to be an epic turd?

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    NON-DISCLOSURE OF ASSETS AFTER FILING BANKRUPTCY

    Posted by Col Ovik on June 20

    A client may be judicially estopped from asserting a cause of action not disclosed on the bankruptcy schedules or otherwise mentioned in the disclosure statements. 

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    Can Changes Be Made to a Chapter 13 Bankruptcy Plan When Life Happens in St. Paul, Minnesota?

    Posted by Danielle Lin on June 17

    A Chapter 13 bankruptcy is a three to five year repayment plan, whereby a debtor pays as much as he or she can afford each month and receives a bankruptcy discharge of their remaining debts after successfully completing their plan payments.

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    How Will Filing Bankruptcy Affect My Credit Score in Saint Paul, Minnesota?

    Posted by Wesley Scott on June 15

    Filing either a chapter 7 or chapter 13 bankruptcy case is a great option for many Minnesotans who are struggling to pay their debts.

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