What is the goal of filing a Chapter 7 Bankruptcy? Getting a Chapter 7 discharge. Getting a Chapter 7 discharge means the debt is wiped out, tax free, forever. Are there situations where creditors can object to you discharging a debt? You bet there is. Section 523 of the Bankruptcy Code outlines several reasons a creditor could object to you discharging a debt made with the creditor.

Minnesotans are always amazed to find out that there really is a government sponsored debt consolidation plan. Most Minnesotans are not aware of this. If you live in St Paul, Minnesota and you are suffering from overwhelming debt and you are currently in a traditional debt consolidation plan, you are wasting your time. You read this right, you are wasting your time. Why? Because the government sponsored debt consolidation plan is much better for you and your family.

You’ve filed for Chapter 7 bankruptcy and have heard this type of case referred to as “liquidation bankruptcy.” This is because the bankruptcy trustee has the authority to seize a filer’s property and assets to liquidate and distribute the proceeds to your creditors. You look around your home, at the things you have, and the thought of selling everything to pay off creditors is understandably concerning.

You’ve filed for bankruptcy, and you get a notice from the court about a creditors meeting. What is this? Is it important? Do you have to go? What will happen at the meeting? Can the creditors stop your bankruptcy case?

Most people who file a bankruptcy case do so once in their lives. Thus, most people who file bankruptcy have no idea what a creditors meeting is, what happens there, what impact it can have on their bankruptcy case or, truthfully, anything at all about what the creditors meeting means or does. This is only one of many reasons why you should always hire an experienced attorney to take you through bankruptcy. An experienced attorney can guide you and help you understand what happens when you file bankruptcy every step of the way, including the meeting of creditors.

Yes, Chapter 7 bankruptcy can typically discharge most judgments. However, there are exceptions, such as child support and alimony. To ensure your judgment is discharged, consult with a bankruptcy attorney in your area. They can help you understand the specific rules and procedures in your state.

A lot of people have no idea the government has a debt consolidation plan. Did you know that? Probably not. What if I told you this debt consolidation plan is limited to 3-5 years, you pay what you can afford to pay, and at the end of the plan whatever doesn’t get paid off, gets wiped out, tax free? Peeks your curiosity doesn’t it?

When you file for bankruptcy, you likely face debts that far exceed your ability to pay them, and may have for some time. Maybe you have medical bills, car repairs, house repairs, or other unplanned major expenditures that make it difficult for you to keep up with your regular bills, like your car payment, utilities, credit cards, and your mortgage or rent. You’ve fallen behind on bills, and you alternate paying different bills each month, sometimes just enough to keep the water and electricity turned on. Maybe you’ve even fallen behind on your mortgage. You never answer your phone for numbers you don’t recognize out of fear it is another creditor calling to demand payment. You may receive notice loans in default or of lawsuits filed against you by creditors. You want to make it stop, but you don’t have the money to catch up, and you don’t know any other way to keep your creditors at bay.

In Part One of this series, we began reviewing some common terms you may hear during a consumer bankruptcy case. It is important to understand what is happening in your bankruptcy, which is possible with the help of an experienced Minnesota bankruptcy lawyer at Kain & Scott. Below, find brief explanations of additional common bankruptcy terms.

While bankruptcy can provide many benefits for consumers struggling with debt, the process can be a confusing one. Specifically, you may hear many terms during your case with which you may not be entirely familiar. It is important to have the assistance and guidance of an experienced bankruptcy attorney who can explain every step of the process, including key bankruptcy terms. In the meantime, the following are some brief definitions of common terms in consumer bankruptcy cases. For information regarding your specific situation, call the Minnesota bankruptcy attorneys at Kain & Scott today.

There are numerous reasons why a Chapter 7 Bankruptcy discharge can be denied. Section 727 of the Bankruptcy Code outlines these reasons.

Section 727(a)(2) states that if debtor, with the intent to hinder, delay, or defraud a creditor or an officer of the estate has removed, destroyed, mutilated or concealed A) property of debtor within 1 year prior to filing the bankruptcy or B) property of the estate after filing the bankruptcy, your discharge may be denied.

Sometimes, when a debtor files Chapter 7 Bankruptcy, there is a desire to convert to a Chapter 13 Bankruptcy. Maybe, it is because debtor’s income has risen or the US Trustee’s Office has a brought a motion to dismiss debtor’s Chapter 7 Bankruptcy for abuse. What does that mean? In English, it means the US Trustee’s Office believes debtor has the ability to pay back creditors something over a 3-5 year Chapter 13 plan.

Section 525 of the Bankruptcy Code provides protections against discriminatory treatment. Section 525(b) of the Bankruptcy Code provides that a private employer may not terminate the employment of, or discriminate with respect to the employment of a person who has or will file Chapter 7 Bankruptcy.

We have discussed the fact that the filing of a bankruptcy petition with the bankruptcy court is an order for relief. And that order for relief triggers the automatic stay provisions of section 362 of the Bankruptcy Court. This automatic stay is a court order that bars creditors from doing most anything to collect on a pre-petition debt with debtor. Of course, that is the general rule, there are exceptions to this rule like the enforcement of child support or alimony for example.

Variations of this questions get asked all the time. Can a Chapter 7 Bankruptcy be denied? Is there anything that can cause my Chapter 7 Bankruptcy to go away? The short answer is yes. However, the reasons for dismissal are limited.

Section 301(a) of the Bankruptcy Codes states that a voluntary Chapter 7 Bankruptcy is commenced with the filing of a petition with the bankruptcy court. A petition, simply put, is a formal written request, signed by you, appealing to the bankruptcy court for relief.

I am not sure everyone understands the role of a paralegal. Paralegals are not licensed lawyers. They cannot give you legal advice, sign you up, or even quote you a fee without violating state law and many ethical rules.