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.

 

Creditor Harassment - What are Creditor Limitations?

Posted by Wesley Scott on June 28

Scared to answer the phone or open your “overdue” stamped mail? Worried about going to work and your boss calling you into his office to talk about your financial situation? Concerned about walking to the parking garage and not finding your car in its spot because it has been towed?

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(Video) WHAT IS A CREDITOR?

Posted by Wesley Scott on June 4

It seems like such a simple question doesn’t it? What is a creditor? A creditor is someone who you either owe money to or claims you owe money to.

For example, you might have a 10k balance on your Master Card account. Master Card is a creditor of yours. You owe them 10k and they would like you to pay them 10k.

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What Is A Creditor?

Posted by William Kain on May 30

Right before his son went off to the big city in Shakespeare’s Hamlet, Polonius told Laertes “Neither a borrower nor lender be/For loan oft loses both itself and friend.” In other words, be careful about borrowing and lending money to friends. If you lend, they won’t pay it back; if you borrow, you’ll fall out of favor. But loaning and borrowing is not bad. In fact, sometimes both are very good.

His advice is still valid in today’s Minneapolis. People haven’t really changed much since the sixteenth century. So, mixing money and friendship still ends badly most of the time. But sometimes, you need to borrow money. In fact, over two-thirds of the nation’s $13.2 trillion in household debt is mortgage debt. Most of the time, mortgage debt is “good debt.”

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How Does Bankruptcy Affect Creditors?

Posted by William Kain on April 10

Just before Laertes went off to Paris in Hamlet, his father (Polonius) gave him a slew of fatherly advice. One suggestion was “Neither a borrower nor a lender be.”

But most of us have ignored that advice. We are both borrowers and lenders. So, it’s very important for us to understand how bankruptcy affects both groups. Many of our previous posts focus on the rights of debtors in bankruptcy. That makes sense, because we are a debt-relief law firm. But we also need to examine creditors rights in bankruptcy. Believe it or not, moneylenders are people too.

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How Bankruptcy Can Protect You from a Summons To Appear In Court

Posted by Erick Bohm on August 11

Here we will discuss what a Summons is and what you can do to protect yourself now that you’ve received one. Receiving a Summons can be terrifying, especially if this is unfamiliar territory.

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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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The Law is On Your Side - You Can Stop Creditor Harassment

Posted by William Kain on February 8

*This article includes some Minnesota specific regulations and guidelines in addition to the federal Fair Debt Collection Practices Act.

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Stop Creditor Harassment

Posted by William Kain on January 16

If being in debt isn’t stressful enough, creditors sure know how to make it worse. When you fall behind in payments, creditors will begin to bother you for the money you owe them. The further you fall behind, the more action creditors are going to take, progressively adding stress and embarrassment to your difficult financial situation. This non-stop pressure and continual reminder of your debt can begin to affect your livelihood, causing increased panic and anxiety.

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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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3 Must-Have Tips for Writing a "Do Not Call" Letter to Creditors

Posted by William Kain on April 5

Financial hardship is one of the most stressful situations many people unfortunately experience at some point in their lives. This stress is magnified by the pressure creditors apply through their attempts to collect on your debt. Common collection attempts include notification letters and phone calls. Although they may sound harmless – after all it’s just a note in the mail or a brief conversation – these reminders can be embarrassing and cause unwanted anxiety.

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What Happens if I Don't Respond to Collection Letters?

Posted by William Kain on December 1

If you are unable to pay your debts, your creditors will begin to contact you to collect. These attempts typically begins with telephone calls. A customer service representative may call you and ask you to make a payment over the telephone or commit to a date you will make the payment. If you do not make the payment, the telephone calls become increasingly hostile and increase in number.

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Creditor Harassment Was Ruining My Life, I Had to Make it Stop

Posted by William Kain on May 22

Debt is one of those situations that cause people to place blame, become depressed and experience intense emotions, such as relentless anger and the feeling of hopelessness. These then trickle into your daily life and cause poor performance at work or tense marital interactions, for example. A challenging financial situation can have a snowball effect, tirelessly enhancing your stress and contaminating your life and relationships.

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Recognize Creditor Harassment and Put a Stop to It

Posted by William Kain on April 10

We receive calls every day from people just like you who are trying to pay their bills but have suffered a financial crisis and have fallen behind. They report that creditors and collection agencies are threatening to take their homes, garnish their wages or levy their bank accounts unless the bill is paid immediately. We hear horror stories of collection agents repeatedly calling their homes, their families or their place of employment to scare them into paying their debts. Angry collection agents bang on their doors or yell into the phone using abusive language and threatening legal action if the bill is not paid. All of these actions are considered creditor harassment and you have rights to make them stop.

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What to Do When the Collection Letters Won't Stop Coming

Posted by William Kain on February 13

If you fear going to the mailbox each day because you dread seeing collection letters, you are not alone. Many Americans are unable to pay their bills and they are facing the same financial stress that you are experiencing. Even with the restrictions imposed on collection agencies through the Fair Debt Collection Practices Act, collection agencies still find ways to harass people in an attempt to collect a past due debt. For most people, this becomes an ongoing nightmare as their financial situation worsens and the collection letters not only continue but also become increasingly threatening and ominous.

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Consumer Protection Laws that Exist for Your Benefit

Posted by Wesley Scott on February 4

As consumers, we spend billions of dollars each year on goods and services, both online and in traditional stores. An increasing number of those purchases are made with some type of credit. As debt has increased, the need to protect consumers against credit fraud and unfair or deceptive trade practices has also increased. The Federal Trade Commission (FTC) is the federal agency that enforces consumer protection laws. Below are descriptions of the three most well known consumer protection laws and details about how each one is designed to protect you against unfair creditor practices.

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