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.

 

    VA Disability and Bankruptcy: What to Know About Protecting Yourself

    Posted by Wesley Scott on September 29

    Another common question we often hear at LifeBack Law is: Are my veteran’s disability benefits protected? This is a very valid question. Many veterans receive at least something from military disability, while some even have to live off of these payments. So if you are a veteran going through financial struggles, and have questions about your benefits and potential bankruptcy, you’ve come to the right place!

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    Should Spouses File Bankruptcy Together?

    Posted by James Jensen-Kowski on September 24

    When married couples contemplate filing bankruptcy, one of the first things that they often consider is whether they should file bankruptcy together.  Or to take the question one step further back, a married couple might begin by wondering whether it is even possible to file a bankruptcy jointly rather than as two separate, individual cases.  In most cases, the answer to this query is yes.  In this brief examination of jointly filed bankruptcies we will explore why this is case, as well as the specific reasons why it may be beneficial for spouses to file together.    

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    The History of Bankruptcy – Ancient Near East

    Posted by Wesley Scott on September 23

    Financial difficulties often have us feeling alone, isolated, or ashamed. No one wants to file bankruptcy and we often feel like we can’t reach out the people for help. These difficult situations are scary, but it is not a path you have to walk alone. Bankruptcy and debt relief are thousands of years old, and you will not be the first nor the last person to consider this route. As a former history nerd, I find history can be comforting when facing the unknown or the uncertain. It helps to know that people were in a similar situation years ago and they managed to survive too.

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    JOINT BANKRUPTCY FILING EXEMPTIONS IN MINNEAPOLIS

    Posted by Col Ovik on September 21

    United States Code, title 11, section 522(d), shall be available to residents of Minnesota. Bankruptcy filers in the state of Minnesota can also choose to use the exemptions under Minn. Stat. § 550.37. 

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    How Bankruptcy Impacts a Co-signor in Minneapolis, Minnesota

    Posted by Wesley Scott on September 19

    If you are thinking of filing bankruptcy or have already filed and have a co-signor on a debt that is included in your case, you may be wondering what happens to the co-signor after you file? 

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    BANKRUPTCY SCAMS ARE EVERYWHERE

    Posted by Col Ovik on September 17

    Individuals today put so much personal information out into the world, but it is not just our friends and family are who are paying attention to the information we freely provide. Criminals are paying attention as well, and using that information to extort, intimidate, and manipulate victims. Criminals are savvy, and are constantly finding new ways to use technology to perpetrate fraud. 

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    Bankruptcy and Your Mortgage in Minneapolis, Minnesota

    Posted by Wesley Scott on September 15

    When you file bankruptcy you will list all of your creditors. This includes secured creditors, like mortgages. In your bankruptcy schedules you will list what you intend to do with the debt/asset. For example, you can surrender the property or keep paying on it. 

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    Modified Chapter 13 Bankruptcy Plans – What Are They and What Do They Do?

    Posted by James Jensen-Kowski on September 13

    Modified plans, also sometimes referred to as mods, are a common term often heard in the context of a bankruptcy.  Specifically, they are frequently referenced or invoked when discussing a Chapter 13 bankruptcy and the related Chapter 13 bankruptcy plan.  Upon hearing the term you might ask, “What is a modified plan” and the related question, “What does a modified plan do?”  At the most basic level, a modified plan is a Chapter 13 bankruptcy plan that has been altered in some way to better suit the needs of the person who filed it.  A modified plan can be beneficial in a broad number of ways, and can be implemented for a wide variety of different reasons, but the basic purpose of a modified plan is to make the process of the Chapter 13 more feasible, to increase its probability of success, or to make it more impactful for the filer.  

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    Using a Translator When Filing Bankruptcy in Minneapolis, Minnesota

    Posted by Wesley Scott on September 11

    If English is not your first language or you are worried about translation, that should not prevent you from filing bankruptcy. At LifeBack Law Firm, we often will use translators to best serve our clients. 

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    Can Bankruptcy Help With Back Taxes?

    Posted by James Jensen-Kowski on September 9

    For many, taxes are one of the single biggest financial obligations that we face on a weekly, monthly and yearly basis.  Deductions for taxes are withheld from our paychecks, and every spring we are required to file returns to determine what our total obligation is for the year.  Even with this process of withholding, many people still find themselves owing in additional funds when spring rolls around and the yearly return is filed.  If you find yourself in this situation, you may be wondering: “What Happens Next”?

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    What’s a Chapter 7 Bankruptcy Trustee and Why Do They Want My Stuff?

    Posted by Wesley Scott on September 7

    If you have done any sort of research into bankruptcy, you’ve likely seen one word pop up over and over again: 

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    Bankruptcy and Vacations in Minneapolis, Minnesota

    Posted by Wesley Scott on September 5

     If you are filing bankruptcy, but have a trip planned or even paid for already, you may be wondering if there are repercussions to filing and taking vacations. 

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    Can Bankruptcy Help With My Utility Bill?

    Posted by James Jensen-Kowski on September 3

    Home utilities play a very prominent role in day to day life.  They provide us with the power to heat and cool our homes, cook and refrigerate our food, and power the devices that we used to stay connected with both our loved ones and the world at large.  In short, utilities are fundamental to providing for our families and protecting our homes.  Unfortunately, utilities can also sometimes be a heavy burden on our budgets, something which has become increasingly true in light of rising energy prices.  This can in turn cause us to sometimes fall behind on utility bills, as we seek to balance their cost alongside other daily bills and the necessary expenses of living.  

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    Sometimes You Just Have to Laugh – Funny Jokes About Bankruptcy

    Posted by Wesley Scott on September 1

    Financial problems are stressful and oftentimes steal all the joy from life. So while you are taking the time to consider bankruptcy, this blog is here to provide some much needed comic-relief (comedy not guaranteed). So if you need a break, or need to laugh about the entire situation, sit back, relax, and let the chuckles (or groans) come.

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    Can Bankruptcy Stop The Repossession Of My Car?

    Posted by Wesley Scott on August 31

    Many people value personal vehicles critically. They are necessary to meet our day-to-day transportation needs and are often one of our most valuable assets. Because of this, it can be jarring and often a bit scary when a lender tells you they plan to repossess your car. One of the first things you might ask yourself if you are experiencing this is, “How do I stop the repossession process and protect my car?” The good news is that bankruptcy can be a resource to help you do this!  

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    Should I Think About Filing Bankruptcy?

    Posted by James Jensen-Kowski on August 30

    When faced with the prospect of unmanageable debt, many consider the options available to help them address the situation and the benefits that these options may entail. When they do this, bankruptcy is often one of the first things that comes to mind.  

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