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.

 

      What Happens to Lease Agreements in Chapter 7?

      Posted by Erick Bohm on August 31

      Lease agreements and executory contracts can either be assumed or rejected through Chapter 7 bankruptcy. Depending on your circumstances, you may wish to separate yourself from an existing lease agreement, or you may want to continue with your obligations after the bankruptcy. Through Chapter 7, you can choose to do either. In this blog we will look at various types of executory contracts and your options for each through Chapter 7.


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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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      Why Filing Chapter 7 Could Save Your Life

      Posted by William Kain on August 25

      Filing Chapter 7 bankruptcy turns lives around by eliminating debt. Our clients are proof that by filing Chapter 7 you can get a fresh start and be free from the burden of debt that is holding them back financially, emotionally and even physically. Dealing with debt problems is a heavy burden to bear and it often causes stress and anxiety. The American Psychological Association’s annual stress survey revealed that approximately one-quarter of Americans experience high levels of stress with concerns about money, jobs and the economy being named as the top sources of stress for many. Unfortunately, unpaid bills can harm your health, arguably even more than it harms your credit rating.

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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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      (Video) What Happens To Your Credit After Chapter 7 Bankruptcy?

      Posted by Wesley Scott on August 18

      What happens to your credit after you file Chapter 7 bankruptcy is not what you think. Most of our guests are completely shocked to find out that Chapter 7 bankruptcy does not have the negative repercussions on your credit you think. We know, there is a stigma associated with filing bankruptcy. Have you ever wondered why or who really benefits if there is a stigma associated with filing bankruptcy?

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      What Are The Requirments to File Chapter 7 Bankruptcy?

      Posted by William Kain on August 14

      When I meet with clients who are facing financial difficulty, I tell them that the first thing we have to decide is if they need to do something to resolve their debt issues, other than just using the same debt reduction strategies that they’ve been using up until the time we met. For the vast majority of the people I meet with, the answer to that question is yes - the reason they are in my office is that they don’t see a good financial outcome by maintaining the status quo.

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      The Requirements To File A Chapter 7 Bankruptcy

      Posted by William Kain on August 12

      Last week I wrote about the Requirements to File a Chapter 7 Bankruptcy Case. I wrote who (or what) can file chapter 7 case, the means testing requirement involved in chapter 7 cases, and the requirement that a chapter 7 debtor have a credit counseling briefing prior to filing a chapter 7 case. This week, I will look at the question that, while it does not come up often, can be quite important in the few cases where it is an issue: the venue of the bankruptcy case. Then I will write about what a chapter 7 debtor has to do to obtain a discharge.

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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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      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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      What Happens After Filing Chapter 7 Bankruptcy?

      Posted by William Kain on August 1

      You’ve taken a major step in regaining your financial freedom by filing Chapter 7 Bankruptcy. Congratulations on being well on your way to becoming free from debt!

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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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      Should I File Bankruptcy In MN?

      Posted by Wesley Scott on July 7

      If you’re asking yourself this question, you may feel like you’re literally drowning in debt. You struggle to keep your head above water, but in fact, you’re barely staying afloat. If you’re feeling this bogged down with stress over debt, it’s time to take action. Consider the many benefits of filing a Chapter 7 bankruptcy. Many people dread the very thought of filing for bankruptcy, when in fact it is a positive way out to get a fresh start. Do not feel like a failure; you’re doing the right thing.

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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 To Keep Your Car When Filing a Chapter 7 Bankruptcy

      Posted by Wesley Scott on June 26

      Two of the most common bankruptcy myths lead people to believe that you will lose everything you own and you will never be able to own anything in the future. Both of these are false. Most people who file bankruptcy don’t lose anything and in the future you can buy, own and possess whatever you can afford to make payments on. One of those necessary and often treasured possessions debtors fear losing is their vehicle – their mode of transportation.

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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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