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.


      Plan Objections: Chapter 13

      Posted by Col Ovik on July 11

      Chapter 13 bankruptcies are repayment plans based on the debtor’s ability to pay. When meeting with your attorney you will discuss your monthly budget: income and expenses, and determine a proposed monthly payment. Once the petition is filed, a creditor’s meeting and confirmation hearing will be scheduled.  Prior to the confirmation hearing, the creditors can objection to the confirmation of the plan.

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      Minnesotans prefer to file bankruptcy with LifeBack Law Firm

      Posted by Wesley Scott on May 13

      Why do Minnesotans prefer to file Chapter 7 and Chapter 13 Bankruptcy with LifeBack Law Firm? Just read our hundreds and hundreds of Google reviews and you will see why. Minnesotans favor LifeBack Law because LifeBack Law excels at helping Minnesotans get their lives back while treating clients and co-workers with kindness, helpfulness, professionalism, and exceptional customer service.

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      Who is the Trustee?

      Posted by Amanda Scharber on May 12

      The trustee is another attorney who is assigned to your case by the US Trustee to represent the bankruptcy estate. The trustee is the person who administers your estate and distributes any funds that come in during your case. They also make sure what you said in your bankruptcy case is truthful and correct and verify the information you provided. You will meet with the bankruptcy trustee at the 341 hearing, usually about 4 to 6 weeks after your case is filed.

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      Gettting Your Life Back by Filing Chapter 7/13 Bankruptcy

      Posted by Wesley Scott on May 9

      Have you ever wondered what life could be like without overwhelming debt? It is possible to get your life back by filing Chapter 7 or 13 Bankruptcy. When you have unwanted debt, your finances are sick, you are not. Your finances need to take a shot of medicine and become healthy again. Money is not your life. Debt is not your life. And yet, debt can have tragic effects on the quality of your life.

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      Calculating a Chapter 13 Payment Amount

      Posted by Charles Nguyen on May 4

      A chapter 13 is a reorganization bankruptcy where you establish a repayment plan that usually lasts 5 years.  Typically, the repayment plan is based on a budget that is created by looking at your net income and then your expenses.  

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      Avoiding Judicial Liens in a Chapter 13 Bankruptcy Case

      Posted by Wesley Scott on April 9

       In a chapter 13 bankruptcy case, the debtor must pay all of their disposable income towards their debts in a three to five year repayment plan before their remaining debts are discharged. Disposable income is the income remaining after paying the debtor’s normal monthly expenses. This differs from a chapter 7 bankruptcy case, in which the debtor is not required to make payments towards their debts before receiving a discharge a few months after their case is filed.

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      Can I Add a Creditor After Filing?

      Posted by Amanda Scharber on March 21

      It is typically easiest if all of your creditors are listed in your case correctly when the case is first filed. But, that cannot always happen. Sometimes you are unsure that a debt went to collections, maybe it was sold, maybe the creditor is finally trying to collect after years of not doing anything with the debt, or maybe you even forgot it existed. You can add creditors after your case is filed, but there are a few exceptions.

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      Chapter 13 Bankruptcy: Negotiating your debts on a more even playing field.

      Posted by Wesley Scott on December 14

      Chapter 7, or “liquidation” bankruptcy is the most straightforward path to bankruptcy relief for most of the people I talk to who are seeking bankruptcy relief (called “debtors”).

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      Chapter 13 Bankruptcy and Setoffs in Minnesota | LifeBack Law Firm

      Posted by Col Ovik on October 29

      When a creditor is owed a debt by the bankruptcy filer and the bankruptcy filer is owed a debt from the creditor and consequently creating a mutual obligation, the creditor can setoff the mutual debt. This means, instead of the creditor paying their debt to the bankruptcy filer the creditor can setoff (subtract) that amount from the amount owed to them by the bankruptcy filer.

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      What Happens If I Cannot Make My Bankruptcy Chapter 13 Payments in MN?

      Posted by Jake Peden on April 2

      A debt reorganization bankruptcy, also known as chapter 13 bankruptcy, allows people in debt to restructure their finances and dedicate their future “disposable income” towards repaying past debts. In bankruptcy payment plans, the debtor(s) has the ability to restructure their debts, prioritize what is important, and make a single monthly payment which then gets divided up to prescribed parties by a bankruptcy trustee.

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      What If I Get Married or Pregnant After Filing Chapter 13 Bankruptcy in MN?

      Posted by Kelsey Quarberg on March 31

      The good news about Chapter 13 bankruptcy is that your life does not need to remain at a standstill once we file your case. You are allowed to live! Get married! Get pregnant! Move! We can always adjust your Chapter 13 plan through what is called a motion to modify the plan.

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      Minnesota Chapter 13 Co-Debtor Stay and Taxes

      Posted by William Kain on March 25

      The co-debtor stay is a nice feature of chapter 13 bankruptcy. When an individual files a bankruptcy case, there is an automatic “stay” that is put in place by the Bankruptcy Court. The automatic stay prevents creditors from collecting against a bankruptcy debtor. In chapter 13 that stay can also, in many cases, extend to co-signers and joint account holders. As long as the chapter 13 case is pending, other people obligated on debts that are “in” a chapter 13 case can be protected by the same automatic stay.

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      What to Expect at Your Meeting with a Bankruptcy Attorney

      Posted by William Kain on February 28


      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.

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      Can You File for Bankruptcy Twice?

      Posted by William Kain on February 24

      Clients often come to us unsure of whether bankruptcy is the right option for them, or whether they can file bankruptcy at all. If you’ve previously filed for bankruptcy, or if you think you may need to file more than once, this question becomes more complicated. The simple answer is yes, you can file for bankruptcy again, but the timing and other details are important.

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      The Chapter 13 "SUPER" Discharge

      Posted by Wesley Scott on August 20

      I’ve written in earlier blogs about the decision-making involved in deciding whether filing a chapter 7 bankruptcy case or a chapter 13 bankruptcy case is the best choice for a particular client.

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      Posted by Wesley Scott on July 11

      In the last few blogs, I’ve written about the choices people who are in a chapter 13 bankruptcy case have when, for whatever reason, the chapter 13 plan payments have become difficult to afford.  I wrote about simply catching up on past-due payments, or setting up a structured repayment plan, called a cure order, when the financial problem facing a chapter 13 debtor is temporary.  In my last blog, I looked at plan modification, a restructuring of the chapter 13 plan, in cases where post-bankruptcy-filing financial problems are more permanent and profound.

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      Tips for Designing a Successful Chapter 13 Repayment Plan

      Posted by Wesley Scott on July 8

      Individuals who desire to reorganize their debts under Chapter 13 of the United States Bankruptcy Code must file a proposed Chapter 13 repayment plan. As part of the Chapter 13 repayment plan, you will propose to the court and your creditors how you intend to repay your debts (often times unsecured debts only get paid pennies on the dollar-and the balance owed gets discharge, i.e. wiped out, tax free). In order to be eligible to file a Chapter 13 case, you must have a regular source of monthly income, such as wages from employment or income from self-employment, social security, pension or other reliable source that can be verified by the court. Some debtors may be able to demonstrate regular assistance from family members to satisfy the income requirements to file for Chapter 13 relief.

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      Secured Debt vs. Unsecured Debt in a Chapter 13 Bankruptcy

      Posted by William Kain on June 29

      When you file a bankruptcy, you must include all debts; however, not all debts are treated equally in a Chapter 13 case. For example, student loans and taxes (there are exceptions to this!) are non-dischargeable debts that survive the bankruptcy. This means the debtor is still legally liable for paying the student loans and taxes if the debts are not paid in full through the bankruptcy plan. Unsecured debts may only receive a percentage of what is owed and any balance remaining at the end of the repayment period is discharged forever. To complicate matters, tax claims are generally unsecured debts but they are afforded priority status and paid after secured claims but before general unsecured claims. As you can already see, secured debt and unsecured debt get treated differently in a Chapter 13 bankruptcy case, and it can be a bit confusing to comprehend. With this blog I am hoping it make it a little simpler, to give you a better idea of how your debts would be handled in a Chapter 13.

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      A Chapter 13 Attorney Logically Explains "Why Choose Bankruptcy"

      Posted by William Kain on June 24

      Struggling with credit card debt is stressful and confusing, but it doesn’t have to be. There are options for consolidating and eliminating your debt, including filing for Chapter 13 bankruptcy. Most clients ask, “Why choose Chapter 13 over hiring a debt consolidation company?” The answer is simple, Chapter 13 allows you to put you and your family ahead of your creditors. Let me explain.

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      What Happens When You File Bankruptcy?

      Posted by Wesley Scott on June 12

      The first thing that happens when you file bankruptcy is you feel an immediate sense of relief. Why? Because as soon as you file a bankruptcy, your creditors are banned from contacting you to collect on a pre-existing debt. There is peace in the valley, your phones no longer lite up and your mail box is full of junk mail - NOT bills!

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      Everything You Need To Know About Chapter 13 Bankruptcy

      Posted by Margaret Henehan on May 18

      Most Minnesota families live hand to mouth. Almost half of the households in America cannot cover a $400 emergency expense. Most secured debt payments, like rent, mortgage, or auto loans, are three or four times that amount. In other words, just one missed installment can mean a world of hurt. Most people lack the means to make catchup payments.

      Most moneylenders begin adverse action, including the dreaded acceleration notice, after just two or three missed payments. An acceleration notice demands the entire loan balance immediately; the lender will no longer accept partial payments. In situations like this, a federally-guaranteed debt repayment plan is probably your best option. Almost everything you need to know about a Chapter 13 bankruptcy is described below.

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      Bankruptcy Basics For Debtors in Minneapolis

      Posted by Wesley Scott on April 20

      Hi everyone! So you are on line searching for information on the basics of bankruptcy. How does it work? What are the differences between a chapter 7 and a chapter 13? Which bankruptcy looks better on my credit report? These are all great questions right? But, can someone explain them in simple terms? I can! 

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      Posted by William Kain on March 5

      Last week I wrote about why being able to file a chapter 13 bankruptcy case quickly is advantageous to debtors. Chapter 13 is often the “emergency” bankruptcy - in many cases that end up being filed as chapter 13s, a mortgage foreclosure is days away, or the repossession agent has been out looking for a client’s car to repossess.  Or in some cases, the repossession has already taken place and the owner has a short period of time in which to redeem the vehicle prior to the vehicle being sold at an auction.  So there are numerous situations in which time matters, and the time is short.  Being able to file quickly is an advantage - and at Kain & Scott we can file a case quickly and professionally.  So the question is, what is there about the Kain & Scott law firm that enables the firm to file a case quickly?

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      Posted by Wesley Scott on February 15

      I am amazed at the number of Americans that don’t know the government actually has a government sponsored debt consolidation plan for you! It’s called a Chapter 13 Bankruptcy and it is amazing! The number of benefits of being in a government sponsored debt consolidation plan cannot be understated.

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      Unexpected Debt and Minnesota Bankruptcy

      Posted by Kelsey Quarberg on December 20

      Has Mother Nature caught you off guard with unprecedented winter storms?

      No matter how prepared you think you are for winter, chances are when an unexpected snowstorm hits, you find that there was something you forgot: extra batteries, driveway salt, or the ever-important loaf of bread and gallon of milk may make the difference between enjoying the winter wonderland outside or cursing the swirling white fury outside your window.

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      Tackling Your Debt During the Holiday Season

      Posted by Kelsey Quarberg on December 13

      Has your debt landed you on the naughty list this year?

      It’s that time of year when Santa is making his annual inventory of all the good and bad Minnesotans. But Santa isn’t alone: many Minnesota families are also taking a good hard look at their finances and wondering how much crunch they will feel once their credit card statements come in January. According to a recent report, the average American family spent almost $1,000 on just gifts during the 2016 holiday season and the projected expense of the 2017 season is expected to be even higher. For Minnesota families that are already struggling financially, the added cost of the holidays can turn a bad situation into a dire one.

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      Commonly Asked Questions About Your Credit & Chapter 13 Bankruptcy

      Posted by William Kain on November 30

      When the lawyers at Kain & Scott meet with potential bankruptcy clients, we always make it a point to ask what questions or concerns the client has during our first appointment.  Almost everyone we meet with has worries about filing a bankruptcy case, and many of the questions that spring from that worry are the same from client to client.  Let’s look at some of the commonly-asked questions we get from our clients - and get some answers.

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      How Long Does Chapter 13 Bankruptcy Stay On Your Credit Report In Monticello, MN?

      Posted by Wesley Scott on November 29

      It is a question we get a lot. How long will a Chapter 13 Bankruptcy stay on my credit report? The answer is 10 years- and that is a certainty. However, that does not mean that you will not get credit for 10 years. Quite the contrary. You see eliminating debt is always a good thing for your credit profile. Getting rid of debt, tax free, and going through Kain & Scott’s FREE 90-Day credit Repair Program improves our guest’s credit profiles to a point much better than before they did either.

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      Twelve Years After the BAPCPA

      Posted by Wesley Scott on November 9

      For those of us who were practicing law at the time, the month of October, 2005 is very memorable. It was October 17, 2005 that the provisions of the Bankruptcy Abuse Prevention and Consumer Protection Act went into effect - the most sweeping change in bankruptcy law since the Bankruptcy Reform Act of 1978.

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      How to File Chapter 13 Bankruptcy in St. Cloud, Minnesota

      Posted by Margaret Henehan on November 1

      When you visit St. Cloud, Minnesota’s official website, there is a staggering amount of “how to” information for residents: if you want to report graffiti, apply for a dog license, or volunteer for a great cause, all the necessary information is laid out in easy-to-follow steps. If you want to file Chapter 13 bankruptcy in St. Cloud, however, an experienced Chapter 13 bankruptcy law firm that provides excellence in bankruptcy representation to St. Cloud residents is your best source for information and guidance.

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      (Video) How does a Chapter 13 Bankruptcy work?

      Posted by Kelsey Quarberg on October 30

      A Chapter 13 bankruptcy is what we refer to as a “Government Sponsored Debt Repayment Plan.” Instead of using a debt consolidation company or tackling your overwhelming debt on your own, a Chapter 13 bankruptcy can be a great option. The main difference between a Chapter 7 bankruptcy and a Chapter 13 bankruptcy is the Chapter 13 Plan. When you file a Chapter 13 bankruptcy, you include a 3 to 5 year repayment plan. The repayment plan amount is based on your disposable income. Basically, you take your average income in a month and subtract your average living expenses. The amount left over is considered your “disposable income” which you can contribute to your Chapter 13 plan. Your Chapter 13 payments are then distributed to your creditors.

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      Counseling Requirements When Filing for Bankruptcy

      Posted by Erick Bohm on October 13

      Before you can file for Chapter 7 or Chapter 13 bankruptcy, you must consult with a nonprofit credit counseling agency. There are two courses you must complete. One is pre-filing and one is post-filing. Most people attend these courses online but they can be completed over the phone as well. The purpose of the first course is to see whether there are any options outside of filing for bankruptcy and the purpose of the second course is to educate you on your budget moving forward.

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      How to Achieve a Debt Free Life

      Posted by Erick Bohm on October 10

      Have you ever wondered what life without debt would be like? Believe it or not, it’s entirely possible. Whether you’re under water on your vehicle, fallen behind on your mortgage, or have overwhelming credit card debt, bankruptcy can help you break free from the shackles and live a debt free life. In a matter of a few short months, you could have your financial life back! Here’s how…

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      How Does Bankruptcy Affect Foreign Debt?

      Posted by Erick Bohm on October 5

      Here in Minnesota, it’s not unheard of to have clients who are either from Canada or frequently move back and forth. Sometimes clients will come to us with questions regarding their foreign debt. When I say foreign debt, I’m referring to debts which were incurred outside of the United States. So, what happens when someone incurs a debt outside of the United States and then moves here? Well, unlike debts which are recognized across state borders, international debts are generally not collectible.

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      How to File for Chapter 13 Bankruptcy

      Posted by William Kain on September 23

      If you’re filing Chapter 13 bankruptcy in Minnesota, you may be aware of the stress and time-commitment required when filing your bankruptcy petition without an attorney. But did you know that with the wrong bankruptcy attorney the process can still be long, difficult, and stressful?

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      What is a Priority Creditor - Part 2

      Posted by William Kain on September 21

      Last week, I wrote about priority debt - the type of unsecured debt that Congress decides should take priority over general unsecured debt in a bankruptcy case. Holding priority debt can be very beneficial for creditors, since in a chapter 7 case, all priority debt is paid, in full (if there are sufficient funds available) before any general unsecured debt is paid, and in a chapter 13 case, all priority debt must be paid in full in order for a chapter 13 plan to get confirmed and for the chapter 13 debtor to receive a discharge.

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      Why Should I File Chapter 13 Bankruptcy?

      Posted by Wesley Scott on September 18

      If there was a win-win solution for your debt, would you take it?

      In life, as well as in finances, there are very few circumstances that could be properly called a “win-win.” As such, it is normal to be wary of promises of a win-win solution, especially in terms of eliminating your debt.

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      What is a Priority Creditor?

      Posted by William Kain on September 14

      When the lawyers at Kain & Scott file bankruptcy cases, one of our jobs is to “classify” debt. There are three classes of debt in bankruptcy cases: unsecured, secured and priority.

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      What is Chapter 13 Bankruptcy?

      Posted by Wesley Scott on September 11

      When you file for bankruptcy in Minnesota, it’s important to know which type of bankruptcy is right for you. Each type of bankruptcy has its advantages and can help your family get back on track, but chances are, one type is more suitable for your family than others. While an experienced bankruptcy lawyer can best help you decide which type of bankruptcy is appropriate for your unique situation, below we explore the reasons why Chapter 13 bankruptcy is popular among debtors and may be the debt solution you need to regain control over your finances.

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      How Can I Keep My Family Out Of My Bankruptcy?

      Posted by William Kain on September 7

      Most of the people that I see at my office who are experiencing financial problems are feeling a significant amount of stress about their money problems. And many of the people with whom I meet are concerned about what will happen to family members if they choose to file bankruptcy. The concerns come from many fact situations.

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      Pros and Cons of Declaring Bankruptcy

      Posted by Erick Bohm on September 5

      Let’s face it, nobody wants to file bankruptcy. Then again, nobody wants to struggle financially, either. Unfortunately, we all struggle with our finances at one point or another. Sometimes we find ourselves in a financial bind and we need help getting out from underneath the pressure. Bankruptcy is a powerful option that helps consumers resurface after being brought down by crippling debt. Whether the debt is caused by ever-increasing interest rates, unmanageable credit cards, divorce, or medical related issues, bankruptcy may be a great option to get your life back.

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      (Video) How To Get Rid Of Debt Without Paying It – Tax Free!

      Posted by Wesley Scott on August 28

      Are you suffering from an overwhelming debt problem? If so, at Kain & Scott, we are sorry you are going through this. Living with overwhelming debt is painful, embarrassing, and unstable. Every day you wonder who is going to come out of the woodwork and call you and harass you and your family. It’s a terrifying way to live. However, life is very humbling, and overwhelming debt can happen to anyone in Minnesota from any walk of life. I don’t care if you are a doctor, lawyer, bill collector, credit counselor, or a teacher. So, what are the ways to get rid of the debt? Essentially, there are four and here they are...

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      (Video) The Simple Differences Between Chapter 7 and 13 Bankruptcy

      Posted by Wesley Scott on August 23

      Wouldn’t it be nice to understand the simple differences between a Chapter 7 and Chapter 13 bankruptcy? Like, give it to me in plain English so I can actually understand my choices, right? So many lawyers talk in legalisms that are hard for most of us to understand. So here are the basic differences in simple terms...

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      Inheritances in Chapter 7 and Chapter 13 Bankruptcy

      Posted by William Kain on August 10

      The clients with whom I meet to discuss filing bankruptcy come in all ages, and genders. Some of my clients are very low-income wage earners; others have fairly high salaries. But my clients have one thing in common: they haven’t had very much good luck financially. For many of these people, filing a bankruptcy case, whether under chapter 7 or chapter 13, is the best option they have to resolve their financial issues. For a small percentage of these people who file bankruptcy cases, the years of bad luck that they experienced prior to filing is changed suddenly when they learn that they will inherit money or property from a deceased loved-one’s estate.

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      How Chapter 13 Bankruptcy Can Help with Your Second Mortgage

      Posted by Erick Bohm on August 3

      If you’re under water on a second mortgage, you may be in luck. Chapter 13 Bankruptcy provides two options for solving this issue. Those two options are referred to as lien strip and cramdown. Both options can be advantageous to the property owner who has real estate valued at less than the amount owed on a first mortgage. These options are provided for under the law to promote property ownership while protecting individuals from overwhelming debt. Depending on your situation, one option may be more beneficial than the other. Ultimately, the question comes down to whether or not the property is your homestead.

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      Chapter 7 vs. Chapter 13 Bankruptcy

      Posted by William Kain on August 2

      When you make the decision to file for bankruptcy in Minnesota, you are making the decision to erase your debts and change your life for good. But knowing which type of bankruptcy to file – Chapter 7 or Chapter 13 – can be confusing. Each type has the power to erase your debts and which is right for you is determined by your unique financial situation.

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      Choosing Chapter 13 Bankruptcy: Minnesota Family Shares Their Story

      Posted by William Kain on July 29

      We see individuals and families of all shapes and sizes in need of help due to financial instability and hardship. In order to portray the “true story” of filing bankruptcy in Minnesota we want to share some of our experiences with people just like you, looking for a way out of debt and a fresh start. We are going to add generalizations and change the personal details for privacy purposes. However, many debtors experience similar situations and circumstances, so these stories are likely shared by many.

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      These Types of Bankruptcy Can Help You Find Financial Relief

      Posted by Wesley Scott on July 28

      When debts turn into a vicious cycle that threatens to never end, filing for bankruptcy can be a wise and prudent choice to move toward financial freedom. There are multiple types of bankruptcy that suit different situations.  The best choice for you will mainly depend on your debts, assets and current income.

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      Pros and Cons of Bankruptcy, from a Filer's Perspective

      Posted by William Kain on July 15

      Nancy*, one of my previous clients, went into her bankruptcy kicking and screaming. Here is how she tells her story today: Filing a bankruptcy case was the last thing I wanted to do, but I had lost my job and the bills began to pile up. There was no end in sight. I hated imagining what my parents, neighbors, co-workers and friends would think when they found out that I filed bankruptcy. I tried to find another way out of debt; however, nothing I tried helped and some solutions even made the situation worse.

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      Get Debt Free through These Types of Bankruptcy

      Posted by Wesley Scott on July 3

      Constantly feeling like you are trying to catch up, while preventing yourself from falling further behind, is exhausting. The longer this drags on, the more tired and discouraged you become. Financial stress is known for causing personal health problems as well as relationship issues.

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      How Do I Reduce My Minimum Payment to Creditors?

      Posted by Wesley Scott on June 30

      If your financial situation is spinning out of control and you are no longer able to make your full monthly payments on time, something needs to happen. Or, perhaps you are already in a debt management program and aren’t able to keep up with your already lowered monthly payments. There are two things that can be done.

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      The Role of a Chapter 13 Trustee in Your Bankruptcy Case

      Posted by Wesley Scott on June 28

      A chapter 13 trustee will be assigned to your case when you file for bankruptcy. Think of the chapter 13 trustee’s role in your bankruptcy case similar to the role an account manager plays. This individual is appointed by the court and will manage your case from the beginning, through your entire repayment plan, at which time you will receive a discharge.

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      5 Ways to Stop Creditor Harassment

      Posted by William Kain on June 23

      Best-ways-to-eliminate-credit-card-debt.pngDo any of the following situations sound familiar?

      • Do you have creditors breathing down your neck, constantly applying pressure on you for payment?
      • Are you at the point where you have stopped answering the phone, hoping the important callers will leave a message, just to avoid talking to your creditors?
      • Are you constantly worried when your employer will be contacted and your paycheck will start being affected?
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      Stipulations for Receiving a Chapter 7 or 13 Bankruptcy Discharge

      Posted by Wesley Scott on June 21

      A discharge is a legal term used during bankruptcy and refers to the elimination of your liability from your debts. If you file Chapter 7 your discharge will be granted immediately upon case closing or if you file Chapter 13, your discharge occurs after you complete your repayment period.

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      The Benefits of Utilizing a Chapter 13 Bankruptcy Attorney

      Posted by Wesley Scott on June 17

      Using a Bankruptcy Attorney to help you File a Chapter 13 Bankruptcy will be one of the best decisions you make, apart from your initial decision to get your life and finances back on track by filing bankruptcy. The bankruptcy code, court procedures and filing forms are saturated with legal jargon that will complicate the overall bankruptcy process if you don’t have the assistance from a legal professional. 

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      What Are My Options for Personal Bankruptcy | Chapter 13

      Posted by William Kain on June 15

      Chapter 13 Bankruptcy is right for you if you are experiencing a temporary setback causing you to be unable to make your payments. This option provides time, allowing you to get back on schedule with your finances. You will make monthly payments though they will be reduced, interest-free and your life will be void of collection agency harassment. Chapter 13 protects your property, prevents foreclosures and repossessions and prohibits wage garnishments.

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      The Chapter 13 Bankruptcy Process In Minnesota

      Posted by William Kain on June 14

      You begin a Chapter 13 Bankruptcy by filing a petition. Following the petition you must also file the following documents with the court:

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      Finding Debt Consolidation Solutions for Your Financial Situation

      Posted by Wesley Scott on June 9

      Debt consolidation consists of combining all of your unsecured debt payments into one. This may involve taking out a loan, entering into a debt consolidation program or Filing Chapter 13 Bankruptcy. Now, what are unsecured debt payments?

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      Need to Get Out of Debt Fast? Consider All Your Options

      Posted by Wesley Scott on May 25

      Let’s say you have $50,000 in credit card debt and your situation has gotten to the point where you can’t keep up with your payments. Something has to be done in order for you to take care of your family, get your life back in control and so on.

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      Manage Debt with a Chapter 13 Bankruptcy - Minnesota Debt Solutions

      Posted by William Kain on May 12

      If you are considering a debt consolidation program – stop right there! Make sure you know all of your debt solutions before entering into an agreement. Consider a chapter 13 bankruptcy (Minnesota filers click here for state specific regulations) as an alternative to a debt consolidation program.

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      An Eagan MN Bankruptcy Lawyers Explanation of Chapter 7 and 13 Bankruptcy

      Posted by Wesley Scott on May 8

      Wondering if I can explain to you what a Chapter 7 and Chapter 13 Bankruptcy is so that you can understand it in English? Of course, I can! After all, I am the managing partner at Kain & Scott, Eagan, Minnesota’s oldest bankruptcy law firm - since 1972. Let's start by taking a closer look at the basics of how a Chapter 7 and Chapter 13 bankruptcy actually work.

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      Chapter 13: The Government Sponsored Debt Consolidation Plan In Eagan, Minnesota

      Posted by Wesley Scott on April 17

      I bet you didn’t know there is a government sponsored debt consolidation plan in Eagan, Minnesota? Okay, actually, there is a government sponsored plan across the entire state of Minnesota! Why have most people not heard about this plan? Most people are familiar with debt consolidation companies out of state, many of whom are owned or linked to major credit card companies. But, did you know the government has its own debt consolidation plan for people like you and me?

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      Shackled by Student Loan Debt? Here’s How Bankruptcy Can Help…

      Posted by Erick Bohm on April 5

      Are you one of the 44.2 million Americans with student loan debt? If so, you completely understand the enormous strain student loan debt causes to your financial well-being. For individuals between the ages of 20-30, the average monthly student loan payment is $351. $351 over the course of 12 months comes out to $4,212.

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      Everything You Need To Know About Filing Bankruptcy As A Sole Proprietor

      Posted by Erick Bohm on February 24

      Operating as a Sole Proprietor can be exciting and stressful at the same time. One of the biggest reasons it can be stressful is because you are personally liable for what happens. Unlike having an LLC, corporation, or partnership, you are personally on the hook for anything that happens. When debts become due, creditors can come after you directly to collect.

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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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      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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      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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      Who Is Kain & Scott And Why Does It Matter To Me?

      Posted by Wesley Scott on December 9

      I seldom like to write about ourselves. I guess it’s my Minnesota upbringing that makes me shy away from tooting our own horn for any reason. But, then it dawns on me, we have to tell our story so our Minnesota guests can understand who we are and why it’s important to those of you reading this blog. If you are considering filing a bankruptcy in the state of Minnesota, this blog is important to you- keep reading!

      Finding and meeting a Bankruptcy Lawyer to help you get your life back is very important. This is an emotional time for you and you need someone who understands what you are going through. With this in mind, let me tell you who Kain & Scott is.

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      Non-Dischargeable Debts: Debts That won't Go Away in Bankruptcy - Part 2

      Posted by William Kain on December 8

      Last week, I wrote about 8 debts that a bankruptcy debtor may have that are not discharged, even if the bankruptcy client receives a “general” discharge. The kind of debts I wrote about - child support, most taxes, student loans, to name a few - are debts that are never discharged in a bankruptcy case.

      People who file a bankruptcy with the types of debts that are never discharged must bring a lawsuit against the creditor in bankruptcy court if they feel, for some reason, that the debt in question should be discharged, despite its characterization. It’s up to the debtor to do this; if the debtor does nothing to contest the non-dischargeability of the debt, the bankruptcy debtor remains liable for the debt after discharge.

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      When And Why Minnesotans File Bankruptcy

      Posted by Wesley Scott on December 5

      We have been practicing Bankruptcy Law at Kain & Scott since 1972. Our Lawyers have helped thousands of Minnesotans get their lives back and not a single one of these cases was identical to another. Everyone’s case is different because everyone is different. However, we have seen nearly everything under the sun and yet, the reasons why Minnesotan’s file bankruptcy can be reduced to 5 general categories.

      I can assure you I have never had a single Minnesotan call me and say Wes, I really incurred all of this debt knowing I would file bankruptcy in the end. Or, you know Wes, I spent 12 months in Europe, with my friends, using my plastic on all of our expenses, knowing when I got back to Minnesota I would file bankruptcy. So, why do Minnesotans file for bankruptcy? Here we go!

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      Should I File a Chapter 7 or Chapter 13 Bankruptcy?

      Posted by Wesley Scott on November 23

      Life should not hurt this much. You have decided that bankruptcy is the medicine your family needs to get your life back and look toward the future not keeping staring at the past. You should be proud of your courage and your need for certainty and security in life. It’s nice to know that when you start fresh you can pay your bills and keep the roof over your head. But still, you struggle with which bankruptcy makes most sense.

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      Non-dischargeable Debts: Debts That Won't Go Away In Bankruptcy

      Posted by William Kain on November 16

      The purpose of filing a Chapter 7 or Chapter 13 bankruptcy case is, plain and simple, to discharge debt - to make debt that has overwhelmed a debtor and his family “go away.” In order to receive a discharge, the bankruptcy debtor must comply with the provisions of the bankruptcy code. So legally proper papers must be filed with the bankruptcy court, all assets and liabilities identified and relevant financial transactions disclosed. The bankruptcy debtor has to attend a meeting with the case trustee, and must cooperate with the trustee and follow court orders to receive a general discharge.  

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      5 Reasons Why Bankruptcy In Roseville Is Better Than Debt Consolidation

      Posted by Wesley Scott on October 17

      So you live in Roseville MN and you had one of the 5 events happened to you which resulted in overwhelming debt: 1) business failure; 2) income drop; 3) divorce or relationship break up; 4) medical problems; 4) bad financial decisions (we have all made them). You are stressed out because you are falling behind and you can’t keep up. That uneasy feeling of slowly drowning in debt, suffocating, and you can’t seem to pull out of it. If you are a human being you will feel your tummy churning and just a depression hanging over your head. 

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      Everything You Need To Know About Bankruptcy Exemptions - PART 3

      Posted by William Kain on October 13

      Last week I wrote a second installment about Exemptions Available To Bankruptcy Debtors, under both the Federal Bankruptcy Code or state law. Last week, I looked at a number of exemptions available to debtors to protect tools of the trade, life insurance policies and the several exemptions that exist to protect the right of a debtor to receive government benefits, child support and maintenance. This week we’ll look at a few more Bankruptcy Exemptions. We’ll also try to draw a clear distinction between the exemption provisions of the Bankruptcy Code and Minnesota Statutes - and what do the differences say about the policies of the United States Congress (Bankruptcy Code) and Minnesota State Legislature (Minnesota Statutes).

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      Everything You Need To Know About Bankruptcy Exemptions - PART 2

      Posted by William Kain on October 10

      Last week, I wrote about the Bankruptcy Exemption Laws contained in both the Federal Bankruptcy Code as well as the exemptions contained in Minnesota’s debtor-creditor statutes. As noted, Minnesota is one of 15 states that are “opt-in” states - states that allow bankruptcy debtors to choose between the Bankruptcy Code exemptions or state law to protect property in a bankruptcy case. We also covered the exemptions available for commonly-owned property: homestead real estate, motor vehicles, household goods and furnishings, clothing and personal effects and jewelry. This week we’ll take a look at the exemptions available to people filing a bankruptcy case for property that is not quite as commonly present for most people. And we’ll look at what the differences and similarities in the state statutes and the Code tell us about the philosophy of bankruptcy law.

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      A Closer Look At The Complexities Of Filing Bankruptcy

      Posted by Margaret Henehan on October 5

      Bankruptcy is an outstanding tool for restructuring your debts and getting out from under financial hardship but can be very difficult to do on your own.  Many people who file cases on their own, without an attorney (“pro se” filers) abandon the bankruptcy process part-way through filing because of the complexities and requirements.  It can be very difficult and a lot of work for an individual to tackle on their own, that’s why at Kain & Scott we advise working with a professional such as one of our experienced bankruptcy experts.  Let’s take a look at some of the more difficult and complex aspects Filing Bankruptcy in Minnesota!

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      The Plain Truth: How Filing Bankruptcy in MN Affects Your Credit

      Posted by Wesley Scott on October 4

      Like so many Minnesotans that call us every day, we hear one common concern over and over again. Minnesotans worry about how bankruptcy affects their credit score and credit life after the bankruptcy is filed. If you are contemplating Filing Chapter 7 Bankruptcy in Minnesota, but you just need a better handle on how bankruptcy affects your credit, here it is. The obvious question so many ask about their credit relates to their future dreams and ambitions.

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      MN Bankruptcy And How It Affects Our Future

      Posted by Wesley Scott on October 3

      Many Americans seek financial recovery each year through the liquidation proceedings involved with Chapter 7 Bankruptcy yet few are aware what Chapter 7 Bankruptcy involves.  In a Chapter 7 Bankruptcy any non-exempt assets the debtor possesses will be liquidated by the trustee as allowed within the US Bankruptcy Code and the revenue is to be divided among creditors based on the priorities set forth within the bankruptcy code.  The vast majority who seek relief through Chapter 7 Bankruptcy have no non-exempt assets to be liquidated or perhaps the cost and effort involved addressing these assets is deemed impractical by the trustee when compared to their potential value to creditors.  But what about our investments and our ideas; what about these seeds we have sown which may someday still bear fruit?  Where do they stand throughout the bankruptcy process?

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      When Can A Bankruptcy Case Be Filed

      Posted by William Kain on September 22

      The past two weeks I’ve written about the Bankruptcy Code’s provisions that govern who can file a bankruptcy case and in what state a bankruptcy case may be filed. I looked at the definitions of who may be a debtor - and noted the differences between the very inclusive chapter 7 and the much more exclusive chapter 13. I discussed the venue of a case last week - and noted the requirements in Title 28 of the United States code that governs venue of a bankruptcy case: residence, domicile and the existence of the principal place of business and/or the location of the principal assets of a business.

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      A Starter's Guide To Filing Bankruptcy In Minnesota

      Posted by Wesley Scott on September 16

      Beginning the process of filing bankruptcy can seem like an overwhelming task but at http://kainscott.com we have several great resources readily available to any Minnesotan seeking relief from their financial hardships.  Our team of expert MN Bankruptcy Attorneys are always happy to address any and all of your specific concerns because we always want to ensure that you are well-informed and comfortable throughout the process. 

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      The Government Sponsored Debt Consolidation Plan Everyone Loves

      Posted by Wesley Scott on September 8

      I bet most of my readers did not know that there is a government sponsored debt consolidation plan. In fact, when I meet with Minnesotans from all walks of life they are surprised to learn that there really is a government sponsored debt consolidation plan. Not only does it exist, it has been around for decades. Why then do most people not know it exists? In a nutshell, because people do not look any further if it involves the “b” word. I wish the government would not call this debt consolidation plan a chapter 13 bankruptcy. I wish they would instead call it what it is, a government sponsored debt consolidation plan. I first want to walk you through the nuts and bolts of a chapter 13 bankruptcy and how it works and then I want to walk you through a real “live” (as my 4 year old son used to say) example of a chapter 13 bankruptcy at work.

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      The Best Time to file a Chapter 13 Bankruptcy Case In Minneapolis

      Posted by William Kain on July 18

      For the past two weeks, I’ve written about the issue of timing in bankruptcy cases. Two weeks ago I looked at timing from the perspective of collection by creditors in my blog, How our Minneapolis Bankruptcy Lawyers Know When You Should File. Last week, I looked at timing as a function of the Bankruptcy Code, and talked specifically about timing the filing of a chapter 7 case. This week I want to discuss timing issues with chapter 13 cases.

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      Keeping Your Car In A Chapter 13 Bankruptcy In 2016

      Posted by William Kain on July 13

      Last week I discussed the timing of the filing of a Chapter 13 Bankruptcy case specifically in relation to mortgage defaults and foreclosure. Chapter 13 Bankruptcy is commonly filed by people with debt problems who are facing defaults in secured loans, such as home mortgage loans. The most common secured loan, though is a vehicle loan. Because of the retail price of both new and used cars, many if not most consumers have to finance the purchase of a vehicle.

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      Can I File Bankruptcy If I Am Current On All Of My Payments?

      Posted by Wesley Scott on March 17

      It happens all the time. We receive phone calls from anxious Minnesotans looking at their bills and wondering how in the world am I going to pay these? I am continually amazed at how long good people can hang onto a seemingly hopeless financial situation. It is not that uncommon to see people do it for years, decades even.

      When it comes to debt, human nature has a common thread that runs through all of us: we want to pay it. We want to pay all of our monthly bills and yet still have enough left over to eat, keep the lights on, and make the rent/mortgage payment to keep the roof over our heads. Most of us don’t want much beyond this.

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      Top 3 Advantages Of Chapter 13 Bankruptcy

      Posted by William Kain on February 23

      For decades Chapter 13 Bankruptcy has been developing a negative stigma. The critical view is that it’s the result of ignorance and irresponsibility. But why? The stereotypes and negative stigma that it evokes are false and unfair. At Kain & Scott the Bankruptcy Attorneys in Roseville, with over 47+ years of experience know better. The reality about people who file Chapter 13 Bankruptcy is quite the contrary and always has been. Chapter 13 was designed and sponsored by our government as a way for responsible people, aware of their debt problems, to resolve their debt and get their life back. There’s no question that Choosing Chapter 13 Bankruptcy is a great option, for any debtor, for three main reasons.

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      Chapter 13 Bankruptcy vs. Debt Consolidation

      Posted by William Kain on February 19

      Struggling with credit card and medical debt is stressful and confusing. But it doesn’t have to be. There are options to consolidate your debt, including filing a Chapter 13 Bankruptcy. Why choose Chapter 13 over using a debt consolidation company? Chapter 13 allows you to put you and your family ahead of the creditors. When working with a debt consolidation company, you pay them. They set up a repayment plan and collect a percentage as payment for their services. You’re paying all of the debt and then some. When finances are already tight, why pay more?

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      How Often Can You File Bankruptcy?

      Posted by Wesley Scott on December 29

      The primary goal of bankruptcy is to receive debt relief and eventually eliminate it completely. With that being said, how often you can file bankruptcy isn’t limited. However, the number of times you can receive a bankruptcy discharge is dependent on your bankruptcy history including past discharges and chapters filed.

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      How Long Does Bankruptcy Take?

      Posted by William Kain on November 3

      When you make the decision to file bankruptcy, your next thought is likely to be how long does bankruptcy take. Your attorney understands that you have been under a great deal of stress as you have tried to handle your debt problem on your own. The frustration, fear, and anxiety of dealing with angry creditors, abusive debt collectors, and the thought of losing your home, car, and other property causes emotional and physical stress; therefore, you want to know how long bankruptcy takes and how quickly can you get on with your life.

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      The Chapter 13 Step by Step Bankruptcy Process Explanation

      Posted by William Kain on September 1

      When deciding if bankruptcy is right for you, there are a lot of questions. One of the most common questions that we receive is about the process. Just how does bankruptcy work and what happens after filing?

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      What Does the Chapter 13 Trustee Do?

      Posted by William Kain on February 17

      When you file a bankruptcy under Chapter 13, a Chapter 13 trustee will be assigned to your case. Most people refer to this person simply as their “trustee” or “Chapter 13 trustee” but the exact title given to this person by the United States Trustee’s office is the “Chapter 13 Standing Trustee for the District of Minnesota.” There are two Chapter 13 trustees that serve in Minnesota. Each trustee is assigned a specific jurisdiction.

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      The Different Types of Minnesota Bankruptcies

      Posted by William Kain on January 13

      Bankruptcy is and has always been intended as a way for people who are struggling with debt to resolve their debt problems and receive the relief they need to rebuild their lives. In order to help people and businesses overcome debt problems, Congress enacted bankruptcy laws to provide a legal means of handling debt. It divided bankruptcies into six different chapters. Each bankruptcy chapter has its own set of requirements for eligibility as well as its own advantages and disadvantages for the debtors. Knowing what chapter of Minnesota bankruptcies to file is something that an experienced bankruptcy attorney can help you determine based upon your unique financial situation and your long-term financial goals.

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      Co-Debtors and Bankruptcy: What Happens To Them If They Don't File?

      Posted by Wesley Scott on December 16

      In today’s world, it is very common to be asked to provide a co-signer when seeking a loan, apartment, or other form of credit from a bank or company. It is their way of assuring themselves that they will get paid. You may think that they require this because they don’t trust people to make their payments, but in reality, they too know that bad things can happen to good people. Things in life may happen that are not under control of the debtor such as unemployment, divorce, death of a spouse or a prolonged illness. When these events happen, the duties of a co-signer may become a reality.

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      Getting Out of Debt, Even the Debt You Owe Your Parents and Friends

      Posted by Wesley Scott on August 25

      Getting out of debt is a top priority for many Americans today. Debt is a huge problem in our country and is causing many people to struggle financially. Debtors depend on a number of different solutions to help them get out of debt; some rely on the bankruptcy court while others are able to make changes to their budgets, get second jobs or refinance their debts.

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      An Answer to Your Question, "Am I Eligible for Bankruptcy?"

      Posted by William Kain on August 1

      Some people may believe that they are eligible for bankruptcy regardless of their current financial status — they are partially correct. Others believe that the changes in bankruptcy law that came with the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) of 2005 made it impossible for most people to find debt relief through bankruptcy — they, on the other hand, are completely wrong. While changes in the bankruptcy laws did restrict some of the eligibility requirements, it did not remove the right of any individuals to seek relief from creditors through the protections offered in bankruptcy.

      The Eligibility Confusion

      The confusion can be summed up in two words: media and creditors. Creditors, with the help of media outlets, did a fantastic job of convincing most Americans that if they did not file bankruptcy before October 2005 when the new bankruptcy laws took effect, they would not be able to file bankruptcy (or that filing bankruptcy would be much more difficult).

      While it is true that the new bankruptcy laws did contain some significant changes, experienced bankruptcy attorneys had already learned the new rules and laws and were ready to continue helping debtors find debt relief through bankruptcy.

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      Drowning in Debt? Don't Be Defeated By It - There is a Way Out

      Posted by William Kain on June 19

      If you are drowning in debt, you are not alone. Millions of Americans across the country are suffering from debt problems due to loss of jobs, medical bills or the loss of a spouse. Life is fluid and we never know what to expect around the next corner.

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      8 Benefits of Having a Chapter 13 Attorney on Your Side

      Posted by William Kain on June 5

      Yes, you can file your own bankruptcy case; however, you probably will not get the results you want as efficiently as is possible. Filing a bankruptcy case can be a very complex matter, especially if it is a Chapter 13 case. In addition to filing the bankruptcy petition, schedules and statements that are required in all bankruptcy cases, you must also create and propose a repayment plan. Repayment plans are complex and require more than simple math to calculate. The benefits of having a Chapter 13 attorney far outweigh the costs you think you might save by trying it alone.

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      My Chapter 13 Repayment Plan Allowed Me to Repay What I Could Afford

      Posted by Wesley Scott on April 24

      Charles*, a previous client of mine offered to share his personal bankruptcy story, in hopes that if you are facing a similar situation you might seek help and find comfort in the fact that you are not alone. I am grateful Charles is sharing his story because his experience is the epitome of financial situations taking a turn for the worse, and there was nothing he could do about it. I think many debtors relate to his situation and his emotional struggle to reach out for help.

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      Benefits of a Chapter 13 Trustee

      Posted by Wesley Scott on April 8

      The decision to file a Chapter 13 bankruptcy case is not something that most individuals take lightly. It is only after thorough consideration, and with the advice of an experienced bankruptcy attorney, that most individuals commit to reorganizing their debts through the bankruptcy process. Filing a Chapter 13 bankruptcy has many benefits, including saving your home from foreclosure, stopping repossession and even keeping you from going to jail if you are behind on domestic support obligations. However, one major advantage that is often overlooked about filing a Chapter 13 case is the appointment of a Chapter 13 Trustee.

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      Are You Prepared for What Happens When You File Bankruptcy?

      Posted by Wesley Scott on March 19

      What happens when you file bankruptcy? Firstly, the automatic stay provisions under the Bankruptcy Code prohibit your creditors from contacting you regarding your debt. Filing bankruptcy stops creditor harassment and those annoying and frustrating creditor calls. However, you are probably wondering what the process looks like - when will you have to go to court, how many times, what a trustee does, how long it takes, etc. We answer questions like these each day as bankruptcy attorneys.

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      What Types of Bankruptcy Will Work for You?

      Posted by Wesley Scott on February 18

      Because each person’s financial situation is different, it is difficult to answer these questions without first taking the time to fully understand the circumstances that brought you to this point. Some debtors have the ability to repay some or all of their debts if they are given the opportunity to reorganize their debts into a manageable repayment plan. On the other hand, some debtors do not have any funds available to pay creditors after paying for their basic living expenses. This is the purpose of having different types of bankruptcy, so that debtors may find relief under the bankruptcy code according to their specific financial needs.

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      Is Personal Bankruptcy a Good Option if it is My Fault I am in Debt?

      Posted by Wesley Scott on January 23

      Almost all of us will experience debt problems at some point during our lifetime due to a financial crisis such as a job loss or due to our own devices. Some individuals cause debt problems for themselves through poor spending habits, abuse of credit cards, gambling, co-signing loans for others or because of a failure to budget and manage money well. Because they feel their debt problems are due to something they did or failed to do, they may wonder, “Is personal bankruptcy a good option for me?”

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      Debt Consolidation Pros and Cons You Need to Consider

      Posted by Wesley Scott on December 31

      If you are struggling with debt, you are not alone. Many Americans face this situation every day due to job loss, loss of a spouse, medical illness or other circumstances that prevent them from paying their bills. Whatever your situation may be, it is important that you understand that there are options available to help you manage this burden and recover financially and emotionally. One possible solution for dealing with debt is debt consolidation. Debt consolidation can help individuals who are struggling to make minimum monthly payments on their credit cards or other debts. However, in some cases, debt consolidation could create more problems than it solves. While it may seem practical to consolidate debts into one, lower monthly payment, you must first consider the pros and cons to debt consolidation.

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      Debt Consolidation Solutions Blog Series: Chapter 13 Bankruptcy

      Posted by Wesley Scott on June 25

      Chapter 13 bankruptcy, also called a “wage-earners” bankruptcy, is essentially a repayment plan based on what you can afford. It allows you to prioritize your debt and make payments based on your income. This plan is best for those who are experiencing a temporary setback and need some time and space to breathe, in order to get their financial situation under control.

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