When you are thinking strongly about filing a Chapter 7 Bankruptcy in Rochester, MN, you will be tempted to do one thing you definitely should NOT do before filing the bankruptcy. You will be tempted to pay family and friends on debts you owe them. We understand this temptation. But if you pay family and friends money before you file bankruptcy, so you can avoid listing them as a creditor on the bankruptcy or just because you want them to get paid back even though others creditors are not getting paid any money, that may be considered a “preference” and the trustee may be able to avoid that preference.

Do you ever wonder why a Minneapolis Bankruptcy Lawyer would only offer bankruptcy representation but do nothing to repair your credit? Are you ready to tidy up your debt mess with a thorough cleaning of your entire financial slate?

Last week I wrote about the timing of filing a bankruptcy case when determining how to know if you should file bankruptcy. The focus of that was when to file in the context of the collection process - filing to avoid the execution on a judgment and to avoid the entry of a judgment entirely. The idea was to give the people reading the blog a sense of the collection process and what a bankruptcy filing would create the most protection for someone looking at difficult to manage debt issues . This week I want to continue examining the timing issue, but instead of looking at the collection process, look at timing issues through the lens of the Bankruptcy Code, and its requirements for filing. And I want to spend some time examining the mortgage foreclosure process and how foreclosure affects the decision of when to file a bankruptcy case .

Every year, thousands of Americans file for bankruptcy for good reason: bankruptcy can be a useful way to erase your debt and get a fresh start. Despite the benefits of bankruptcy, many Minneapolis residents aren’t sure what steps they need to take to erase their debt or how fast and easy filing for bankruptcy can be with Lifeback Law.

Do your finances need a boost to get back into shape? Does your credit score need to be re-energized? Are you searching for the perfect Minneapolis Bankruptcy Lawyer to give you a complete financial makeover?

Every year, Minnesotans who live in and around Minneapolis get their lives back and celebrate their new life with enthusiasm. If you are one of those people who filed Chapter 7 or Chapter 13 Bankruptcy and live here or anywhere else in the twins cities metro area, and you now have your life back, please know how much I am proud of you!

Here at Kain & Scott our professional, kind and helpful team of Minneapolis Bankruptcy Lawyers are truly honored to help each and every one of our clients get their lives back. Our client satisfaction and peace of mind is our top priority which is why we strive to continuously build upon our reputation as the nicest (most kind and helpful) Bankruptcy Law Firm in Minneapolis and the greater Twin Cities area. We know that the Bankruptcy Process doesn’t end with filing your case, so here’s some helpful information to give you a better understanding of how to begin rebuilding your credit score after you’ve received your discharge.

Kain & Scott has been Minnesota’s Bankruptcy Law Firm since 1972. Our Minneapolis Bankruptcy Lawyers have seen a thing or two about the reasons that hold people back from filing bankruptcy. The truth is, all of the reasons you think you shouldn’t file bankruptcy are actually the reasons you SHOULD file bankruptcy. Crazy right? Well, read on if you are skeptical.

I recently met with a guest in Minneapolis who I had met with 2 years ago. She was contemplating bankruptcy 2 years ago- which is why she met with me then, but she was not ready to file bankruptcy. Have you ever heard of the expression, “flowers bloom at different times?” I like that expression because it fits out clients to a tee. Often the Minneapolis Bankruptcy Attorneys meet with guests and we think gee, you should really file bankruptcy and get your life back. But, for the client, this is all very brand new and scary.

This is an age old question. You have a lot of debt or maybe you have a modest amount of debt and the creditors are like chihuahuas that just will not leave you alone. Every month is a constant battle- juggling the payment to creditors with paying your bills.

Many of our guests wonder is they qualify for chapter 7 bankruptcy. Sometimes, it can feel like you are not a candidate for bankruptcy when you really are a good candidate for bankruptcy. How do you know if you should be considering chapter 7 bankruptcy? How do you know you even qualify to file a chapter 7 bankruptcy?

I know this seems like a smart ass answer, but if you are thinking about it, you probably qualify to file.

You have hit the wall. You live in Minneapolis and you have lived with overwhelming debt for years. You juggled the debt as long as you could and then the house of cards came crashing down on you. You stopped paying the bills altogether and simply buried your head in the sand. When life crashes around sometimes the best coping method is to put your ear plugs in and your helmet on and let the world around you crash and burn. When you are down and out, sometimes you cope by simply ignoring it because that is what you mentally need to do. 

Paying your bills is what we all want to do. No one likes the idea of not paying debt we incurred. The idea of drowning in debt is scary and the mentioning the “b” word is even scarier. Human beings are all the same. At heart, I believe most of us would rather claw our own eye balls out than not pay our bills. And yet, life interferes with our best plans. 

This is not easy stuff folks. The amount of courage it takes to reach out for help cannot be understated. Most of our clients in Minneapolis are embarrassed to find themselves in debt and often scared to reach out for help. However, equally nerving is not being able to pay your bills and worrying that you might be living in a card board box soon. There is hope. Debt is simply a problem to be solved and nothing more. It’s no different than having an infection in a really embarrassing location. The medical staff does not find it embarrassing, they just need to find the solution to the problem. That is the same for Minneapolis Bankruptcy Lawyers . Our laser focus is to solve your debt problem for good.

Bankruptcy is a well-established financial tool that has been a means of successful financial recovery and ongoing stability for many people all across Minneapolis.  Many Minneapolis residents will File Bankruptcy this year so that they can start 2017 with a fresh new financial start.  Among the many bankruptcies that will be filed a small percentage of them might be attempted to be filed “pro se” without the aid of an experienced Minneapolis Bankruptcy Lawyer.  Although it’s not required by law to retain a Bankruptcy Lawyer in order to File Bankruptcy in Minneapolis there are many advantages to doing so.

For most of the clients I meet at my Minneapolis Bankruptcy Law Firm, the most important question they have, after we finish analyzing their financial circumstances is whether it is advisable to file a bankruptcy case. That’s the primary question, and in most cases, the only one. But for some clients there are additional questions - should I wait to file a case, or should I file right away. And for a few clients, the question is whether they should file a case in Minneapolis, Minnesota, or some other state. Let’s take a look at the factors that enter into decision-making about whether to file, when to file and where to file.