The MN Bankruptcy Blog | Learn the Bankruptcy Process & More

How Can I Keep My Family Out Of My Bankruptcy? – Part 2

Posted by William Kain on October 20

I’ve been writing about the interaction between a bankruptcy debtor and the debtor’s relatives for the past three weeks. During that time, I’ve looked at the complications that can arise from having relatives involved in a debtor’s financial affairs - and how almost every debtor who has been my client very much wants to keep family members from getting entangled in the debtor’s bankruptcy case.

(Video) 2 Things Every Minnesotan Should Know Before Filing Chapter 7 Bankruptcy

Posted by Wesley Scott on October 18

The humility of being alive. Overwhelming debt can pose a problem for anyone- literally anyone. Don’t think you are immune from this happening to you because you are not. Each year, nearly 15,000 Minnesotans file bankruptcy as a result of overwhelming debt.

Am I Going To Lose My House? - Part 2

Posted by William Kain on October 16

Last week, I wrote about the issue of home protection in bankruptcy. And it’s a fairly complicated issue. But the bottom line is that if you are a homeowner that lives in Minnesota, and you need to file a bankruptcy case to resolve your financial issues, the equity in your home is almost certain to be exempt - that is, your home can’t be taken from you by a bankruptcy trustee if you want to protect it.

(Video) Why Filing Chapter 7 Bankruptcy In Eden Prairie Should Be Your First Choice

Posted by Wesley Scott on October 11

We know, everyone thinks that bankruptcy should be your last choice. However, if you are suffering from overwhelming debt in Eden Prairie, Minnesota, you really have limited options on how to solve the debt problem for good. In the end, filing Chapter 7 bankruptcy in Eden Prairie, Minnesota should be your first choice.

(Video) Why File Chapter 7 Bankruptcy With Kain & Scott In Duluth

Posted by Wesley Scott on September 29

For so many of our Duluth, Minnesota guests, they know they want to file bankruptcy, they just need to find out which Minnesota bankruptcy law firm is right for them. With so many to choose from it can be overwhelming. I hear some of our guests say a bankruptcy lawyer is a bankruptcy lawyer right? Aren’t they all the same? No, they are not all the same and we all have different business models.

(Video) Filing Chapter 7 Bankruptcy In Duluth From Home

Posted by Wesley Scott on September 28

I am high anxiety. If I were a non-attorney facing overwhelming debt, I would prefer not to meet with someone face to face. Some people are like me, high anxiety, and prefer not to meet with a lawyer to discuss this face to face. But, there are other options. At Kain & Scott, we have a unique 4 step process to filing a Chapter 7 bankruptcy, all from the comfort of your own home.

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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.

What Happens to Your Tax Debt After Bankruptcy?

Posted by Margaret Henehan on September 20

Many people I speak with are interested in finding out what debts are not dischargeable in a bankruptcy. Meaning what debts will still remain after a bankruptcy. Tax debt is the most tricky debt to deal with in bankruptcy because there are so many rules in place that must be followed in order to determine whether tax debt can be discharged in a chapter 7 bankruptcy.

Is Debt Settlement a Good Alternative to Bankruptcy?

Posted by Margaret Henehan on September 15

When a potential client comes in for an initial consultation, one of the available options for a client with a debt problem is debt settlement. But is it a good alternative to bankruptcy? The answer is mainly no, it’s not, the reasons of which are spelled out below.

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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.

How To File For Chapter 7 Bankruptcy

Posted by Erick Bohm on September 13

Don’t you wish there was a fast and easy way to erase your debt in Minnesota?

It’s easy to get into debt: the loss of your job, change of circumstances, an unstable market, and serious illness are just a few reasons you may have fallen behind on your payments. Once you fall behind on your payments, the amount of your debt grows quickly as penalties and interest are added.

(Video) How To Tell The Difference Between The Real IRS or Scam Artist?

Posted by Kelsey Quarberg on September 12

I often receive panicked phone calls and emails from clients stating they received a call from the IRS threatening to arrest them for failure to pay taxes. After looking into each client’s case, more often than not I find that the call or email was a scam. When you are faced with overwhelming debt, it can be difficult to distinguish between what is real and what is fake. You may be receiving a mix of calls from real debt collectors and fake debt collectors. The fake collectors take advantage of people that have other, real types of debt in the hopes that they will accidentally get paid. Here are some signs and tips to avoid IRS scams:

(Video) How Does Filing for Chapter 7 Bankruptcy Affect Your Credit Score?

Posted by Wesley Scott on September 6

Kain & Scott is Minnesota’s oldest bankruptcy law firm- we have been around since 1972. We have seen a thing or two when it comes to the aftermath of filing Chapter 7 Bankruptcy and have helped thousands of Minnesotans get their lives back. Here is the truth about what the effect filing Chapter 7 bankruptcy will have on your credit:

(Video) What Are The Chances of Getting Denied a Chapter 7 Discharge?

Posted by Wesley Scott on September 4

At Kain & Scott we get asked what the chances of getting denied a Chapter 7 discharge a lot and we completely understand this concern. But, let’s talk about what actually happens to the VAST majority of Minnesotans who file a Chapter 7 bankruptcy. The VAST majority get their discharge and have their debts wiped out, tax free ! However, a very small percentage of cases do get denied, here are the reasons:

(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...

My Friend Stopped Paying on the Car I Co-Signed!! What Now!?!?

Posted by Erick Bohm on February 2

If you’re reading this blog, it’s likely you were kind enough to co-sign on a debt with someone, but that certain someone fell behind on payments. Since they fell behind on their payments, it’s likely the creditor is trying to collect the debt from you. If you’re experiencing this, don’t worry. We can certainly help you.