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.

 

    How Does a Bankruptcy Discharge Affect My Debt?

    Posted by William Kain on January 12

    The short answer to this question is that a bankruptcy discharge eliminates your debt. According to Bankruptcy Basics, an overview of the United States Bankruptcy Code, a bankruptcy discharge “releases debtors from personal liability from specific debts and prohibits creditors from ever taking any action against the debtor to collect those debts.” Whatever debts are discharged when you file chapter 7 or chapter 13 bankruptcies will be removed from your life, forever.

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    What are my debt consolidation options?

    Posted by Wesley Scott on January 6

    Debt is stressful, no matter what caused you to fall and lose control of your finances. Whether or not it was poor financial decisions or an unexpected medical emergency that began your spin out of control, debt needs to be handled as soon as it becomes a situation.

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    How Your Tax Debt and Bankruptcy Can Work Together

    Posted by William Kain on January 5

    Quite often, people considering bankruptcy have tax problems in addition to debt problems. They are surprised to learn that bankruptcy can also offer relief from income tax liability.

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    A Day In The Life With A Minneapolis Bankruptcy Attorney

    Posted by Wesley Scott on January 4

    Are you finding it increasingly difficult to keep your head above water with your finances? If so, you’re not alone. Thousands of hardworking people in Minneapolis struggle with overwhelming debt, each and every day. Often times it can feel like you’re alone but don’t let the illusion that everyone around you is managing their money efficiently, fool you.

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    Filing for Chapter 13 Bankruptcy vs. Debt Consolidation

    Posted by Wesley Scott on January 4

    Struggling with credit card debt is stressful and confusing. But it doesn’t have to be. There are options to consolidate your debt, including filing for Chapter 13 Bankruptcy. Why choose Chapter 13 over hiring a debt consolidation company? Chapter 13 allows you to put you and your family ahead of the creditors.

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    Common Misconceptions About Bankruptcy

    Posted by William Kain on January 3

    For someone struggling with debt, bankruptcy may be a choice. It can offer the chance to wipe the financial slate clean, to get a new start. But how do you know if it’s right for you and which bankruptcy option do you choose? There is a lot of information out there and not all of it is true. Here are three common misconceptions that our MN Bankruptcy Attorneys often hear and it’s about time that they were cleared up.

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    Learn What To Expect From Your Free Bankruptcy Consultation

    Top 16 Myths About Bankruptcy

    Posted by Wesley Scott on January 2

    You know all those bad things you’ve always heard about bankruptcy. Most of them are NOT TRUE! Here are the top 16 myths aout bankruptcy your creditors want you to believe and reasons why each is NOT TRUE.

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    3 Ways To Talk To A Minneapolis Bankruptcy Lawyer Almost Instantly

    Posted by Wesley Scott on December 30

    We are in an age of consumer convenience. Consumers insist on meeting/speaking with professionals in much more convenient ways than yesteryear. I want to be very clear, I still think a face to face meeting is the best way to meet with a bankruptcy attorney.

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    What Creditors Won't Tell You That Our MN Bankruptcy Lawyers Will

    Posted by Wesley Scott on December 29

    Have you ever wondered why there is such a stigma associated with bankruptcy? After all, companies file bankruptcy all the time and reorganize themselves to live another day. The number of companies that have filed bankruptcy only to rise out of the ashes of debt are way too numerous to even mention.

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    Consumer Credit Counseling Improves Post-Debt Financial Management

    Posted by William Kain on December 27

    In October of 2005 the new bankruptcy law, Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, added a credit counseling and financial management requirement. So, if you file bankruptcy today you are required to complete two financial management courses that will help you get your life back on track after your debt is discharged. Those courses include:

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    Can My Bankruptcy Discharge Be Denied - Part 2

    Posted by William Kain on December 26

    Last week, I wrote about some of the reasons a bankruptcy debtor can be denied a general discharge, or can lose a discharge after the court has entered it. The loss of a debtor’s discharge is a serious matter, and it usually can only happen when there has been active misconduct of a criminal, or at the very least quasi-criminal nature by the debtor relating to the bankruptcy proceedings, or the debtor’s assets. Since the reason people file bankruptcy cases is to receive a discharge of their debt, debtors need to know what kind of behavior leads to revocation of discharge so debtors do not put their discharge at risk.

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    Get Your Life Back | Going Beyond Debt Help

    Posted by Wesley Scott on December 25

    Bankruptcy is our core – it’s not just what we do, it’s all we do. We believe it is a tool that should be used to help people get their lives back. Most clients come into our office feeling hopeless, helpless and defeated, but leave feeling invigorated and free. Bankruptcy allows debtors to recover and rebuild after a financial crisis, or in other words, get their lives back. However, our commitment to our clients does not stop at the filing of their bankruptcy case.

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    A Free Bankruptcy Consultation Isn't Limited to Credit Card Debtors

    Posted by William Kain on December 21

    bankruptcy_consultation-1.jpgCredit card debt is one of the most common reasons people seek debt solutions. It is easy to overspend when you aren’t paying cash and you aren’t held responsible for paying immediately. The interest built into this type of credit can add up quickly, especially if the balance isn’t paid in full or on time every month. And because accounts are being managed online it is much easier to overlook or disregard the added interest.

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    Protect Your Assets During Your Personal Bankruptcy

    Posted by William Kain on December 20

    One of the concerns we address with almost every client is the fear of losing assets in bankruptcy. The belief that you will lose your property when you file bankruptcy is a myth perpetuated by creditors and others to instill fear so you will not consider bankruptcy as a solution to your debt. However, here is the truth: your assets can be protected during personal bankruptcy.

    In fact, filing a bankruptcy case can even SAVE your assets from being seized and sold by creditors. Individuals who may potentially face foreclosure or repossession can file bankruptcy to keep their house, vehicles and personal property. When you file a bankruptcy case, the automatic stay prevents creditors from continuing or starting actions to foreclose or repossess your property.

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    Don't Let Bankruptcy and Divorce Be the End of Your World

    Posted by William Kain on December 19

    Bankruptcy and divorce are two concepts that most people never entertain as they are beginning their adult life. As we step out into the adult world to begin building our life, we never dream that one day we may be facing overwhelming debts that we cannot pay and a failing marriage. Bankruptcy and divorce can crush your dreams, your spirit and life as you know it.

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    Non-Dischargeable Debts: Debts That won't Go Away in Bankruptcy - Part 3

    Posted by William Kain on December 13

    In my last two blogs, I looked at debts that aren’t discharged in a bankruptcy case. Two weeks ago I looked at debts that are never discharged - student loans, most income tax debt, obligations to pay child support or spousal maintenance, to name a few. These debts are presumed to be non-dischargeable in a bankruptcy case. That means that the creditor does not have to bring an action in bankruptcy court to determine that these kinds of debts are not subject to a bankruptcy debtor’s general discharge; if there is going to be a judicial determination of dischargeability, the bankruptcy debtor has to bring the action to determine whether the debt can be discharged in the bankruptcy case, and the presumption is that the debt is not subject to discharge.

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