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.

 

    Keeping a Credit Card During Bankruptcy in St. Paul, Minnesota

    Posted by Danielle Lin on December 15

    A debtor filing for bankruptcy may choose to keep a credit card. When filing for bankruptcy, all of the debtor’s creditors must be listed in the schedules. A creditor is an entity that has a claim against the debtor that arose at the time of or before the order for relief concerning the debtor. § 1010(10). Once a debtor’s bankruptcy case is filed, a notice gets sent out to all of the debtor’s creditors listed in the schedules. Usually, upon receipt of the bankruptcy notice, a credit card company as a creditor, will close the debtor’s credit card. However, there are certain situations and circumstances in which a debtor may keep a credit card during a bankruptcy.
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    CrytpoCurrency and Bankruptcy in Minneapolis, MN

    Posted by Wesley Scott on December 13

    Welcome back to our series of blog posts on the history and philosophy of the economy, bankruptcy, and debt – today let’s talk again about a more current topic: cryptocurrency. This post will continue to merely skim the surface of current cryptocurrency issues, for what it is worth. Today, let’s introduce the topic of non-fungible tokens, also known as NFTs.

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    BANKRUPTCY FRAUD IN MINNEAPOLIS

    Posted by Col Ovik on December 11

    When filing bankruptcy, debtors may be tempted to transfer assets in an effort to protect the assets from the bankruptcy estate. However, § 548(a)(a)(A) encompasses transfers made by the debtor within two years of filing the bankruptcy, and such transfers would be fraud if transferred "with actual intent to hinder, delay, or defraud any entity to which the debtor was or became, on or after the date that such transfer was made or such obligation incurred, indebted . . . ." 11 U.S.C. § 548(a)(1)(A).  

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    Will I lose my house filing Chapter 7 Bankruptcy in Minneapolis, MN?

    Posted by Wesley Scott on December 9

         We have many people who reach out to LifeBack Law Firm concerned about these type of questions. And they are legitimate fears of course. But what we tell people is there really is two issues to dissect when it comes to this question.

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    Filing Bankruptcy in Minneapolis, MN  and Cryptocurrency #3

    Posted by Wesley Scott on December 7

    Welcome back to our series of blog posts on the history and philosophy of the economy, bankruptcy, and debt – today let’s talk again about a more current topic: cryptocurrency. This post will continue to merely skim the surface of current cryptocurrency issues, for what it is worth. Today, let’s discuss a scam that occurs in the industry: pump and dump.

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    Filing Bankruptcy and Improving Your Monthly Budget in Minneapolis, Minnesota

    Posted by Amanda Scharber on December 5

    If you are in an active bankruptcy or thinking of filing a bankruptcy case, you may be wondering how you can improve your budget and disposable income. 

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    I Received a Judgment in Minneapolis, Minnesota, should I file bankruptcy?

    Posted by Amanda Scharber on December 3

    Receiving notice of a judgment can be scary and very unfamiliar. If you have been notified of a judgment from one of your unsecured creditors, you may be wondering what your next step should be.

    Call LifeBack Law to schedule a free consultation with one of our licensed attorneys. We have offices around Minnesota in St. Paul, St. Cloud, Maple Grove, Eden Prairie, Duluth, Eagan, and Brainerd. Appointments can be done in-person or virtually (phone, Zoom, Skype, or FaceTime) and usually last a half hour to one hour. During the appointment the attorney will get information regarding your situation and then discuss options, including whether a bankruptcy is the right fit for you. 

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    Chapter 13 Bankruptcy: A gov’t sponsored debt consolidation program in Minneapolis, MN

    Posted by Wesley Scott on December 1

     I have pity for humans who try to avoid the “b” word because they want to pay their debt. We all want to pay our debt. The issue is this: who comes first, your family or your creditors? Your family has to come first.

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    How Filing a Bankruptcy Case Can Help Relieve Tax Debt in Saint Paul, Minnesota

    Posted by Wesley Scott on November 29


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    Bankruptcy Transfers and Preference Payments in Minneapolis

    Posted by Col Ovik on November 28

    The property of the bankruptcy estate cannot be removed from the bankruptcy court’s exclusive jurisdiction except by proceedings in the bankruptcy court. The bankruptcy case filing vests exclusive jurisdiction over the debtor’s property in the bankruptcy court so that it may control the administration of the case. 

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    What will my Credit Report Look like After Filing Bankruptcy in Minneapolis, Minnesota

    Posted by Amanda Scharber on November 26

    If you live in Minneapolis, Minnesota and have recently filed bankruptcy or are thinking of filing, you may be wondering how bankruptcy will impact your credit. 

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    Annuity Payments and Filing Bankruptcy in Minneapolis, MN

    Posted by Col Ovik on November 24

    Not all annuity payments in a bankruptcy will be exempt. For the annuity payment to be exempt in a bankruptcy filing it must be the type described by Congress under exemption § 522(d)(10). 

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    Filing Chapter 7 Bankruptcy in Minneapolis, MN Improves Your Credit; Here Is Why

    Posted by Wesley Scott on November 22

    Suppose you live in Minneapolis, MN and you have 30k in credit card debt and 10k in medical debt.
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    Filing Bankruptcy in Minneapolis-Refrain From Concealing Assets

    Posted by Col Ovik on November 21

    Bankruptcy is designed to give an honest debtor a fresh start. The fresh start is accomplished through the discharge, but a discharge is not a right, but a privilege. While the denial of a discharge is an extreme penalty, inappropriate conduct by a debtor can justify the denial of the discharge. 

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    Looking for a Chapter 7 Bankruptcy lawyer in Minneapolis, MN? Watch out for this

    Posted by Wesley Scott on November 20

    Some people think a bankruptcy attorney is a bankruptcy attorney and they could not be more wrong. I have been in this business for 25 years and I can tell you I have seen some things that would make your blood boil.

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    Student Loan Debt and Bankruptcy in Minneapolis

    Posted by Col Ovik on November 19

    The student loan debt crisis in America has been a growing issue for years, but recently those suffering from student loan debt received a big win. President Biden announced a forgiveness of some student loan debt for eligible borrowers. Although, for many Americans the amount of the forgiven debt will be just a drop in the bucket in relation to the overall amount of their student loan debt. But what or who can help a struggling debtor with the remaining student loan debt? Can it be discharged in a bankruptcy? 

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