The concept of discharge can prove to be a bit confounding to individuals not directly involved in the field of bankruptcy, especially when it comes to how that debt is taxed or not taxed.

Essentially, discharge means the debt is forgiven or canceled, and the creditor has either agreed to the debt being wiped out or the creditor is prohibited from pursuing future payment. Bankruptcy can only cancel debts that exist at the time the petition is filed.

One of the most common concerns people have when considering filing for bankruptcy is whether they will be able to keep their house. Bankruptcy law provides a great deal of protection for the homes of those who file for bankruptcy (aka debtors), particularly in the state of Minnesota.

Maybe chapter 13 has been mentioned to you or maybe you googled it. You know that a chapter 13 is different than a chapter 7, but how does it really work?

When you file bankruptcy, a chapter 13 or a chapter 7 filing, you will be required to attend a meeting of creditors. The meeting is conducted by the trustee, who is charged with administering the estate. But your creditors can and sometimes do attend this meeting. Very few creditors actually attend the meeting, and most of the time a bankruptcy debtor can expect that no creditors will be present.

We live in a world where reviews matter. What people think of a business matters to those prospects who are looking at doing business with a merchant, law firm, or vendor. Unfortunately, there are law firms who insist on using software to game the reviews and make it appear as if the law firm has stronger Google and BBB reviews than they actually do. How is this done?

While we are still learning all the effects of the COVID-19 coronavirus, the far-reaching impact of this pandemic and related government shutdowns will continue to be discovered for years. Many people have been directly impacted and been laid off, furloughed, or otherwise had their hours and compensation cut. But the even wider reaching are the effects will be felt for years and across nearly every industry.

As bankruptcy attorneys, we will be the first to admit that bankruptcy is challenging and has many moving parts, while also being completely unique per case. At Kain & Scott, we primarily file chapter 7 and chapter 13 bankruptcies—focusing solely on the consumer.

If you file a Chapter 7 bankruptcy in Minnesota, any secured lenders listed in your schedules are likely to send you a reaffirmation agreement to sign. More often than not, it is a bad idea to sign a reaffirmation agreement.

It is common for people to pay back their family members for past debts owed to them instead of paying back other creditors, such as credit card companies and medical providers. This can be problematic because Minnesota law requires creditors be paid back equitably.

Many divorces today are accomplished by a default order and are never litigated. In fact, many individuals draft their own divorce decrees. While this may save you money on a divorce attorney it could end up costing you in your bankruptcy.

This is one of my most frequently asked questions from a prospective bankruptcy client. When researching bankruptcy, or speaking to people that have filed, you will hear the word ‘trustee’ come up frequently. Who is the trustee?

Money problems can cause friction in relationships, and these problems can sometimes result in the relationship becoming fractured. If couples are divorcing, and they have financial problems, the lawyers for the couple will often recommend the couple file a bankruptcy case. Because of expense, many lawyers will advise that the divorcing couple file a joint bankruptcy case.

The world is changing, so we must change too. As hopeful as we all are for what 2021 will bring us, it seems COVID-19 will be sticking around for a while. Does that mean I cannot file a bankruptcy if the court houses are closed? No! In fact, just because the physical federal courthouse building is closed, does not mean we cannot file bankruptcy cases.

One of the best reasons to file for Chapter 13 bankruptcy in Minnesota is to help with tax debt. Typically, tax debt that you incurred in the last few years or from a late filed return is not dischargeable in bankruptcy.

People typically file for bankruptcy when their debt becomes too overwhelming for them to continue to handle. This is nothing to be ashamed of and thousands of people file for bankruptcy each year in Minnesota alone.

The bankruptcy law is designed to allow people to hit the “reset button” and be relieved from their legal obligation to pay past-due debt. Rarely do people regret filing for bankruptcy and many wish they had not waited so long to file when they finally do.

There are endless fines and fees associated with all walks and circumstances of life, just seems to be the theme these days. Typically, bankruptcy can assist in getting rid of the unwanted and unrelenting debt that plagues many people in society. But what about the miscellaneous fees and fines, from parking tickets, restitution, or reimbursement expenses?