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.

 

    Minnesota's Largest Bankruptcy Law Firm Has a New Name

    Posted by Wesley Scott on June 22

    We wanted to create a name that was congruent with who we are. We wanted to create a name that answered what do we do and have it more relevant to our marketing ethos in Minnesota. So we kicked back and brain stormed different names. We were going from Kain & Scott, P.A. to what name would fit us the best? After muddling our way through close to 500 names, we chose LifeBack Law Firm, P.A.!

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    What Does Bankruptcy Do to My Credit in Minnesota?

    Posted by Wesley Scott on June 21

    A lot of people who suffer with debt want to know how does bankruptcy affect my credit? There are all kinds of misconceptions about bankruptcy in the marketplace. I have had some people tell me they didn’t think they could get any credit after they filed a bankruptcy.

    This is not true at all. Over the many decades, LifeBack Law Firm has helped literally tens of thousands of Minnesotans get their lives back and most of them go on to obtain credit. Most go on to purchase homes and vehicles and all sorts of other items.

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    How Chapter 7 Can Protect You From Your Creditors

    Posted by Margaret Henehan on June 18

    Chapter 7 bankruptcy, also commonly referred to as the “fresh start” bankruptcy, is one of the most commonly filed bankruptcies in Minnesota for several good reasons. Not only immediately after you file a Chapter 7 are you protected from any creditors, but creditors are not allowed to repossess or foreclose on any property while you are in a Chapter 7.

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    Why Am I Asked About Receiving Any Inheritance During Bankruptcy?

    Posted by Col Ovik on June 17

    During your bankruptcy you will be asked about the likelihood that you may inherit any property or money. Your attorney will likely ask you this question and the trustee will also let you know if you do inherit any funds during the bankruptcy you need to let the trustee’s office know. Why? Because the bankruptcy estate will have an interest in the inherited property.

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    How to Manage Your Finances When Planning on Filing for Bankruptcy

    Posted by Tim Tonga on June 16

    People file for bankruptcy when their debt becomes too much to handle and they need financial relief. A common concern people have is how they should be spending their money and what debts they should be paying when they are contemplating filing for bankruptcy in the near future.

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    What Is a Chapter 13 Plan Modification in MN and Do I Need One?

    Posted by Amanda Scharber on June 15

    During the three to five years of a chapter 13 bankruptcy your life will likely change. Whether it is because of finances, relationships, property, or your health. That is why chapter 13 bankruptcy plans can ebb and flow with you.

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    Limiting the Impact of the Bankruptcy on the Non-Filing Spouse in MN

    Posted by Col Ovik on June 14

    Bankruptcy provides an avenue for an individual to address their debt. It can provide a lot of relief. But, not everyone needs to or should file bankruptcy. What happens when only one of the partners in a marriage needs to file bankruptcy? The first question that needs to be addressed is, does the other spouse have any debt where it would make sense for them to file as well.

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    What Is Chapter 7 Bankruptcy and How It Works in Minnesota

    Posted by Wesley Scott on May 17

    Bankruptcy is a serious legal tool that shouldn't be entered into lightly. Fortunately, it can, in specific situations, help you move forward toward greater financial freedom.

    Chapter 7 is a specific chapter in the federal bankruptcy laws that represents what is known as straight or liquidation bankruptcy and that can wipe your financial slate clean.

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    What Is Chapter 13 Bankruptcy And How It Works In Minnesota

    Posted by Wesley Scott on May 10

    If you’re currently facing financial issues, it can color everything you do and can make your financial future seem bleak at best. If your financial situation seems insurmountable, help may be available in the form of a Chapter 13 bankruptcy. While bankruptcy is obviously not the answer for everyone in every financially dire situation and is a fairly drastic move, it can – in certain situations – give you the kind of financial reboot you need to move forward with renewed confidence and purpose.

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    What is Bankruptcy? A Minnesota Bankruptcy Lawyer Explains...

    Posted by Wesley Scott on May 7

    Bankruptcy is a legal process that offers individuals and companies facing overwhelming debt with the opportunity of a fresh start. The bankruptcy process can eliminate debt and halt the efforts of your creditors. In the long run, it can also improve you credit score and ability to obtain a loan.

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    What Happens when you File Bankruptcy in Minnesota?

    Posted by Wesley Scott on May 3

    Filing for bankruptcy in Minnesota could be the first step on your path to a financial fresh start. However, the exact steps along that path will depend on a few factors including the type of bankruptcy proceeding you have selected.

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    What Happens to My Bankruptcy Co-Signer When I File in Minnesota?

    Posted by Wesley Scott on April 21

    When you receive your bankruptcy discharge, your liability on the debt is discharged, but your co-signors isn’t. What will happen to them after you file and whether their credit will be impacted by your filing are common questions.

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    What's the Process for Handling Unprotected Property in Chapter 7 Bankruptcy?

    Posted by Tim Tonga on April 19

    In most chapter 7 cases, the debtor does not have to give up any property because all the property they have is exempt, and therefore, protected, under law. However, in certain cases, some debtors may have property that is not protected.

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    How Does Chapter 7 Bankruptcy Really Work in Minnesota?

    Posted by Wesley Scott on April 15

    A lot of Americans want to know, how does a Chapter 7 Bankruptcy really work? This article dissects a Chapter 7 Bankruptcy from the moment it becomes a thought in your head to when you actually get your life back after bankruptcy.

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    What If I Inherit Money After Filing Bankruptcy in MN?

    Posted by Kelsey Quarberg on April 11

    Minnesota law generally allows bankruptcy filers to keep inheritances, but there are exceptions. If the inheritance is considered propety exempt from creditors under Minnesota law, you can likely keep it. Contact a Minnesota bankruptcy attorney to discuss your specific situation and ensure you're protected.

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    What You Need to Know About Credit Unions and Filing MN Bankruptcy

    Posted by Margaret Henehan on April 9

    Credit Unions operate differently than banks in many aspects, and there are a few big differences in how credit unions operate within the bankruptcy world.

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