At Kain & Scott, the final step before filing a bankruptcy is the Review & Sign appointment. Clients come into the office to prepare the bankruptcy petition and make sure the client is ready for filing. Being prepared ensures this meeting goes smoothly and allows the bankruptcy to be filed promptly, generally within days of the appointment.

One thing we hear almost daily from our clients is how they wish they would have filed for bankruptcy sooner. They wish they would have pushed aside all of their preconceived ideas about filing and the negative stigmas and gone with their gut.

Many of our clients find themselves filing for Chapter 7 bankruptcy because they are out of options. And while bankruptcy is supposed to give you a fresh start, we understand that it often feels more like a defeat. Many clients worry if they will ever be able to qualify for a loan after their bankruptcy case. While you may have to pay a higher interest rate and meet other requirements, the good news is that getting financing after your Chapter 7 bankruptcy is easier than you might think. An experienced Minnesota bankruptcy attorney can help you develop a plan and identify your options.

Deciding to file for bankruptcy is a big step, especially if you own and operate a business. You need to get out from under your debts, some which were directly related to your business, while other debts were strictly personal. Business owners worry about how the bankruptcy will affect their business, with good reason - the idea of closing down your business and the loss of income can be quite worrisome. The good news is that the point of bankruptcy is to help you make a fresh start, not make your life more difficult.

In the first part of this topic, we discussed developing good financial practices to help you rebuild your credit. If you haven’t already read that post, we strongly recommend that you review it before reading this one - the steps discussed in this post won’t do you much good if you haven’t yet gotten your financial house in order. Good financial habits are a necessity when it comes to rebuilding your credit after bankruptcy.

Getting your bankruptcy discharge is a milestone event in reclaiming your financial future. In some ways, however, this is just the beginning. In order to maximize the value of your bankruptcy and get back on the right track, you need to rebuild your credit. For many people, this means relearning how to manage their finances.

Most people come into our office wondering whether bankruptcy is the right choice for them. However, there are some instances where the choice is made for them because they have had an involuntary bankruptcy petition filed against them.

When you file for bankruptcy, you are required to notify all of your creditors. This gives your creditors the opportunity to challenge your bankruptcy filing - they might argue that you shouldn’t be allowed to file bankruptcy at all, or they might have an issue with some particular aspect of your bankruptcy. As intimidating as this may sound, the reality is that you will be given an opportunity to respond to their challenges, and ultimately, the court will decide whether or not you should be allowed to proceed. It may still sound scary, but rest assured that the playing field while in bankruptcy is much more level than it was before you filed for bankruptcy. If you’re worried about possible objections to your bankruptcy case, a Minnesota bankruptcy attorney can help you both avoid and respond to those objections.

Collection calls can make an already difficult situation miserable. They won’t stop calling until to you talk to them, but you don’t know what to say - you don’t want to make promises you can’t keep, and you’re so overwhelmed that you’re not sure there is anything you can pay. If you could just get the calls to stop, you could maybe focus and come up with a plan to get out of your current situation.

Your home is probably your most important asset and its value goes beyond just dollars and cents. The first question many of our clients ask us is whether the bankruptcy court will force them to sell or otherwise surrender their home. While this is a very real possibility, we do everything in our power to help you keep your home. Chapter 13 bankruptcy is often the best way to get out from under your creditors and keep your home. That said, you will probably need a Minnesota bankruptcy attorney to help you successfully navigate the process.

Most people never need to hire a lawyer, and when they do, it’s usually at a time of their life that is filled with stress and uncertainty. As a result, meeting with a lawyer a lawyer is often something that people approach with a lot of trepidation. It’s no different when someone is considering filing for bankruptcy. You’re already being harassed by creditors and debt collectors, you may be facing foreclosure, and other legal actions. The idea of meeting with a complete stranger to discuss your financial situation is, at a minimum, daunting. However, it’s important to remember that our Minnesota bankruptcy law firm is here to help you get through these difficult times and make a fresh start.

Chapter 13 bankruptcy is often a good choice for people who want to keep their home or other significant assets. In a Chapter 13 bankruptcy, you repay your debts through a payment plan that is administered by a bankruptcy trustee and that is overseen by the bankruptcy court. Your Chapter 13 payment plan can take up to five years. On the one hand, five years helps you repay your debts in reasonable and affordable monthly payments. On the other hand, five years is a long time and can be intimidating for a lot of people.

Are you considering bankruptcy and wondering what counts as income? Understanding what is counted as income in bankruptcy is crucial for navigating the process. In bankruptcy, income includes wages, rental income, alimony, and more, excluding Social Security benefits.

In 1978, Congress enacted the United States Bankruptcy Code, allowing consumers to file for bankruptcy protection. Since that time, millions of Americans have filed for bankruptcy, all across the country and across all walks of life. Despite how common filing a bankruptcy case has become, many people don’t really understand what bankruptcy is, how it works, or what it can achieve. The following is some brief information about bankruptcy laws. To discuss your specific circumstances, call our Minnesota bankruptcy attorneys today.

Thanks to all of the courtroom dramas we see on television, most people are terrified by the prospect of going to court. It often keeps people from going to court who need to - the idea of someone aggressively questioning them and trying to trip them up is just too intimidating. Even people in dire financial situations are afraid to file for bankruptcy because they don’t want to go to court.

Financial stress can be overwhelming and leave you feeling like you have nowhere to turn. Bill collectors are calling, you can’t keep up with your bills, and you don’t see your situation improving anytime soon. While bankruptcy may seem like the obvious choice, this is a big decision and should be made only after careful consideration. If you feel like you’re out of options and are considering filing for bankruptcy, a Minnesota bankruptcy attorney can help you decide whether bankruptcy really is right for you.