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.

 

    What Financial Transactions Are Permitted After Filing for Bankruptcy?

    Posted by Tim Tonga on September 22

    A common concern for people considering filing for bankruptcy is whether they will be restricted from buying or selling property, or taking out more debt, during their bankruptcy case. Whether these types of transactions are permitted partially depends on whether they file a chapter 13 or chapter 7 bankruptcy case.

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    Can I Get Rid of My Vehicle and Vehicle Loan in Bankruptcy?

    Posted by Amanda Scharber on September 22

    Say you have a vehicle, that for whatever reason, you do not want to keep anymore. Maybe it needs significant repair, maybe you can’t afford it anymore, or maybe you just do not want it. Whatever the reason, you may be wondering whether you can get rid of the vehicle and its loan in bankruptcy? The answer is yes.

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    Will I Be Discriminated Against for Filing Bankruptcy in Minnesota?

    Posted by Tim Tonga on September 21

    A common concern for people who are filing for chapter 7 and chapter 13 bankruptcy is whether others will find out about their bankruptcy, and if so, whether they will get discriminated against for filing. One concern people often have is whether friends or family members will discover that they filed for bankruptcy.

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    What Is a Chapter 13 Cram Down in Minnesota?

    Posted by Charles Nguyen on September 20

    As you may know, a chapter 13 bankruptcy is a reorganization bankruptcy where you establish a repayment plan that usually lasts 5 years. Typically, the repayment plan is based on a budget that is created by looking at your net income and then your expenses.  One of the many benefits of a chapter 13 bankruptcy is the availability to lower or “cram down” a debt from the current loan balance to the value of that debt.

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    The Minnesota Homestead Exception: Chapter 7 v. Chapter 13

    Posted by Col Ovik on September 19

    As a general matter, homestead exemptions are to be liberally construed in favor of the exemption. All presumptions are to be made in favor of preservation and retention of the homestead. This is good news for a bankruptcy filer who wishes to protect/exempt their homestead when filing bankruptcy.

    The effect of claiming an exemption is to technically exclude property from the bankruptcy estate.

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    Does the Value of My Home Matter in Minnesota Bankruptcy?

    Posted by Jake Peden on September 18

    When I meet with clients who own their home, protecting their loved ones and their family home are the number one concerns. As far as protecting your home in bankruptcy goes, Minnesota is one of the best states in the country as far as protecting your equity. Currently, you can have up to $450,000.00 worth of home equity and not lose any of it in filing for bankruptcy relief.

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    I Received a Motion to Dismiss My Chapter 13 in Minnesota, Now What?

    Posted by Amanda Scharber on September 17

    A Motion to Dismiss your chapter 13 case is generally brought by the chapter 13 trustee. This motion is usually brought by the trustee to dismiss your case, because of failure to follow some sort of provision in your plan or the bankruptcy code.

    Commonly, Motions to Dismiss are brought for the following reasons, failure to make your plan payments, failure to turn over tax refunds or other property of the bankruptcy estate, and failure to provide your tax returns.

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    Should You Wait to File Bankruptcy in Minnesota?

    Posted by Charles Nguyen on September 16

    Bankruptcy is a last option for many people. Before making a decision to file, most people will struggle with their rent or mortgage and other bills. Due to ongoing stress, mistakes will occur, such as paying a credit card bill instead of an electric bill or paying the monthly balance on a personal loan instead of their home owner’s association fee. They may even skip one or two mortgage payments to pay an unsecured debt.

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    Can Bankruptcy Help Me With My Medical Debt?

    Posted by Tim Tonga on September 15

    There are lots of reasons that people file for bankruptcy. One very common reason is because they have lots of medical debt. Medical services can be very expensive, particularly for those who have no or little insurance. Medical debt is considered general unsecured debt, just like credit cards and personal loans that are not secured by any collateral. This type of debt can be completely wiped out by a bankruptcy discharge.

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    How Does a Chapter 13 Bankruptcy Really Work Minnesota?

    Posted by Wesley Scott on September 14

    You are sitting at home, at your kitchen table, and you are working your way through a pile of bills that need to be paid. Some of these bills are past due. When you whip out the calculator and add all of the credit card debt, medical bills, and unsecured lines of credit, you get a total of $75,000.00 with monthly payments that total $3,250.00 to service just the minimum payments on all of the debts.

    Is chapter 13 bankruptcy in Minnesota something you should start considering?

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    Living With Positivity, Despite Adversity

    Posted by Col Ovik on September 13

    Recently, I started watching a new television series call Ted Lasso and I was quite wonderfully surprised. This is a show about positivity, kindness, and thoughtfulness. Even faced with the ugliest of characters, Ted Lasso continues his crusade of positivity. This is a message we should all embrace.

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    Can Bankruptcy Get Rid of Debt Owed to the Government?

    Posted by Tim Tonga on September 12

    Whether a bankruptcy can wipe out debt owed to the government is one question that many people have when considering filing for a chapter 7 or chapter 13 bankruptcy. Whether a bankruptcy discharge will eliminate this type of debt depends on the specific nature of the debt owed to the government. One common form of government debt is tax debt. Tax debt is generally not dischargeable in bankruptcy.

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    Is There Confidential Information Listed in My Minnesota Bankruptcy?

    Posted by Amanda Scharber on September 11

    Bankruptcy filings like Chapter 7 and Chapter 13 are technically public record. The full case and associated documents are filed with the court. The case and associated filings are then accessible on the United States Bankruptcy Court’s website.

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    Should You Ever Give a Bankruptcy Attorney a Lien on Your Own Clothing?

    Posted by Wesley Scott on September 10

    Unfortunately, in the bankruptcy world, there are some very unseemly practices. There are some companies who disguise themselves as law firms only to be referral agencies in reality. They take your phone call and have non-lawyers sign you up, and then refer you back to a Minnesota bankruptcy attorney. If you want crappy service, you should definitely do this.

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    How Does Wage Garnishment Work in Minnesota?

    Posted by Charles Nguyen on September 9

    A garnishment is when someone, usually a creditor or someone you owe money to, goes into your bank account or paycheck to obtain money that you owe.

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    Can Bankruptcy Help Me With My Tax Debt in Minnesota?

    Posted by Tim Tonga on September 8

    Tax debt is a major reason that people file for bankruptcy. Despite the fact that the State and Federal taxing authorities (i.e. the IRS and MN Department of Revenue) are often willing to offer payment plans to assist people with this type of debt, owing a large amount of taxes can create both a financial and emotional burden. This is especially true when one has other expenses, debts and bills with which to contend.

    Bankruptcy can often provide a great deal of assistance for those dealing with lots of tax debt.

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