Life happens, we do not set out to owe our creditors money we cannot payback. If you are in a situation where you owe your utility providers for a current service you use, you may be wondering, can I include my utility provider as a creditor in my bankruptcy?
The answer, is yes. Although, you can include your utility providers, read on to find out requirements for doing so.

Summer in Saint Paul is a thing of beauty. Everywhere you look, there’s trees, rich foliage, and lots of flowers.  The weather is typically sunny and warm, but not too hot. The city is full of people engaging in outdoor activities such as boating, swimming, jogging, and playing in the park. However, one of the best things about the summertime in St. Paul is the sports.  

Once a creditor obtains a judgment against a debtor in order for the creditor to obtain payment from the debtor the creditor will attempt to enforce the judgment. Enforcement of the judgment can be in the form of a bank levy or garnishment but it can also be a lien against the debtor’s real estate. 

LifeBack Law Firm is Minnesota’s most kind and helpful bankruptcy law firm. We recently opened up a new location right where you live in Minneapolis, MN! We are now located at 310 E 38 Street, Suite 111, Minneapolis, MN 55409. We are just south of downtown Minneapolis and located on a bus line with plenty of free parking. If you live in Minneapolis, and you are suffering from overwhelming debt, and you need to file bankruptcy and get your life back, look no further than LifeBack Law Firm. LifeBack has been protecting Minnesotans from their creditors since 1972, and we can protect you too. 

Not all debts in a bankruptcy are dischargeable. 11 U.S.C. § 523 of the Bankruptcy Code provides exceptions to the dischargeability of some debts. This blog will address the nondischargeability of debts encompassed by Section 523(a)(6). 

     It is the age-old question isn’t it? What effect does filing Chapter 7 Bankruptcy have on my credit? It’s not what you think and here is why. Suppose you say to me, I have 50k in credit card debt and I have fallen behind on my payments. The credit card companies have not sued me yet but I am in default on all my payments and I am starting to hear from collection agencies. We all know collection agencies are the last stop before you get sued and your wages garnished and accounts levied by creditors.

Almost every client wants to know where their case will be filed and whether the county they live in is the location for filing. The county you live in does determine where your case is filed, but your case will not be filed in your local county courthouse. 

Welcome back to our series of blog posts on the history and philosophy of the economy, bankruptcy, and debt – today we discuss public benefits, which are today are generally couched as welfare. 

 If you own an LLC or a corporation, and are thinking about filing for bankruptcy, you may have some questions or concerns regarding whether your business debt will be discharged in a Chapter 7 bankruptcy. By owning an LLC or a corporation, you probably have business debt and personal debt. Business debt is debt that arises from the operation of your business. It is money that you owe from running your business. It is debt that is owed by the business entity, which is separate from the debt owed by you as the owner of the business. Personal debts from running a business can come in the form of taking out loans and incurring credit card debt to pay business expenses. It can also come about when you as the business owner, agree to “personally guarantee” a business loan, which means that you as the owner, agree to be personally responsible for repaying the business loan, in the event the business is unable to pay the loan itself.

Bankruptcy law allows debtors to file a personal chapter 7 or 13 bankruptcy case either by themselves, individually, or jointly with their spouse. Typically, when both spouses have a substantial amount of debt, it makes good sense for them to file a joint case together. That way, both spouses can wipe out all of their debt, at the same time, without having to go through the additional time and cost of filing two separate cases (debtors don’t have to pay twice for attorney fees and court filing fees).

    If you are struggling with making your mortgage payments on time, or if you are facing an impending foreclosure on your house, a Chapter 13 bankruptcy may be the type of bankruptcy that will best suit your needs. A Chapter 13 bankruptcy involves an affordable, monthly payment plan. This monthly payment plan can cure mortgage arrears, and at the same time, protect your house from a foreclosure. A Chapter 13 bankruptcy is a structured and organized way to pay back a small portion of your debt, cure mortgage arrears, and stop a foreclosure; meanwhile, you are able to keep all of your assets and come out of the bankruptcy in 3-5 years debt free. In a Chapter 13 bankruptcy, you will make monthly, affordable payments to your bankruptcy trustee’s office, which can be set up to monthly ACH withdrawals from a bank account of your choice. That monthly, affordable payment can allow you to pay down any mortgage arrears that you may have. 

Over my last posts, we discussed the bankruptcy regimes in the United States up to the Chandler Act of 1938. It is worth taking a moment to plot the policy concerns over those periods.

We live in the historical period known as the information age. Everyone has information right at their fingertip, however, are they receiving the correct information? How do we know the information we are reading online is the best, and most current information. Consider the source of the information: is the information coming from someone’s blog or an academic paper, and cross-reference the sources. It can be an arduous task to complete a thorough search on a topic, but likely necessary if you want the entire truth. 

Though we have been tracing the history of bankruptcy policy in America, this week, we will take a break from that discussion. We turn instead to Greek philosophers and discuss some of their ideas about debts and society so we can gain perspective on our modern situation.

    There are various reasons a Chapter 13 bankruptcy could be dismissed or converted to a Chapter 7 bankruptcy. A Chapter 13 bankruptcy may be voluntarily converted to a Chapter 7 bankruptcy at any time. A Chapter 13 bankruptcy may be voluntarily converted to a Chapter 7 for a number of reasons, including a change in your financial circumstances that may allow a Chapter 7 bankruptcy to be more suitable. It may also be that due to the nature of the proof of claims that filed by your creditors, confirmation of your Chapter 13 plan is not feasible and converting to a Chapter 7 would resolve issues with creditors, make more sense, and be more beneficial for you. While only a notice of conversion needs to be filed if a Chapter 13 is voluntarily converted to a Chapter 7 bankruptcy, it would be wise to consult with an experienced attorney prior to deciding whether a conversion to a Chapter 7 would be best for your financial situation, needs, and circumstances. 

At the moment you file for bankruptcy, “automatic stay” kicks in, pursuant to Section 362 of the U.S. Bankruptcy Code. It is an order that gets sent to your creditors immediately, after you file for bankruptcy. The automatic stay affords protections throughout your bankruptcy, regardless of whether you file a Chapter 7 or a Chapter 13 bankruptcy. It is a provision in bankruptcy law that acts as a protective shield and protects you from creditors, while at the same time, providing you time to reorganize your debts, finances, and financial affairs.