Not far down the road from Edina, there is a Kain & Scott fully staffed bankruptcy law office 40 hours per week just inside Eden Prairie, Minnesota. In fact, Kain & Scott has the most full time staffed offices in Minnesota than any other Minnesota bankruptcy law firm, all focused on helping you through your bankruptcy in Edina, MN.

When you are on the verge of filing bankruptcy it may seem tempting to pay down some secured debts. People fall into the trap of taking exempted funds out of retirement accounts and using those funds to pay down their secured loans. Unfortunately, this type of bankruptcy planning can backfire.

One of the most common questions that we hear around this time of year is whether potential clients will lose their tax refunds if they decide to file a Chapter 7 bankruptcy.. The short answer is that it really depends on each individual situation, but in a great many of the cases that we file, the tax refunds can be protected. 

If you file a Chapter 7 bankruptcy in Minnesota, any secured lenders listed in your schedules are likely to send you a reaffirmation agreement to sign. More often than not, it is a bad idea to sign a reaffirmation agreement.

A lot of people who live in and around Eden Prairie, Minnesota want to know if they qualify to file a Chapter 7 Bankruptcy. To qualify for a Chapter 7 Bankruptcy you must not have filed a previous Chapter 7 Bankruptcy (where you received a discharge) in a case filed in the previous 8 years. You also do not qualify for a Chapter 7 Bankruptcy discharge if you filed a Chapter 13 Bankruptcy within the previous 6 years (and where you received a Chapter 13 discharge).

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 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.

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.

Financial trouble is probably one of the leading causes of divorce, and as a result, divorce and bankruptcy often go hand-in-hand. As stressful as it is to face both a possible bankruptcy and the break-up of your marriage, rushing into either decision can create a lot of problems. Fortunately, some careful planning can help minimize the impact so that you can move on with your life and in a better position than you are in now.

Judging by what you see and hear in the media, it's not uncommon to hear about businesses filing for bankruptcy. Some of these businesses go on to success in life after bankruptcy. And these aren’t just huge, national corporations - according to the Small Business Administration, roughly 80 percent of small businesses will fail. If you’re a sole proprietor whose business is facing insurmountable debt, you may be wondering whether bankruptcy is a viable option for you.

Deciding to file for bankruptcy is a big step - so big that it can perhaps feel like stepping off a cliff. However, you may be surprised to feel a sense of relief once you decide to move forward. After all, bankruptcy offers the opportunity to make a fresh start. Most people think of bankruptcy as a legal mechanism that wipes out your debt. In legal jargon, this is referred to as “Chapter 7” bankruptcy or “complete liquidation.” If you’re having difficulty paying your bills and have creditors aggressively seeking payment, the opportunity to make it all go away begins to sound very attractive. However, there are situations in which Chapter 7 bankruptcy may not be your best option.

Many people make New Year’s resolutions to exercise more, eat healthier, or be kinder to others. But what about resolving to address your financial situation? A lot of people facing financial stress and debt tend to sweep it under the rug. It may feel so overwhelming that they think there is nothing that can be done about it. This is not the case, however, as our experienced bankruptcy attorneys have helped many people overcome even the most serious financial situations. The following are only some debt-related resolutions that can make for a happier 2019.

So, you are thinking about filing Chapter 7 Bankruptcy and you say to yourself, I don’t want to lose my Harley Davidson Some folks are a lot like me, they have high anxiety and want to know who exactly is involved in this process and what do they do?

So, you are thinking about filing Chapter 7 Bankruptcy and you say to yourself, I don’t want to lose my Harley Davidson worth 8k and no liens against it right? So, what do you do? You transfer the title to the Harley to your brother for nothing. Problem solved right? Wrong!

To understand what a reaffirmation agreement is in Chapter 7 Bankruptcy, you first must understand what the goal of a Chapter 7 Bankruptcy is. The goal of a Chapter 7 Bankruptcy is to obtain a Chapter 7 Bankruptcy discharge. A Chapter 7 Bankruptcy discharge absolves you of your personal liability for the underlying debt. Creditor must write the debt off and is not able to pursue debtor for the debt again.