When you are facing a serious debt problem, information is key right? You want to know how scary is this and how scary is the process. You also want information about bankruptcy delivered to you in a way you can understand it. Thankfully, the LARGEST Chapter 7 and 13 Bankruptcy website in Maple Grove, MN is www.kainscott.com.

Let’s face it, there are better words in the English dictionary other than bankruptcy. But if you are in Minnesota and you are suffering from overwhelming debt, you will need to do some research on bankruptcy—what it is, what is the process, and what are the fees. If you are like me, you find it really annoying to have to skip around to different websites to try and cobble together information about a subject. 

We can help you. At Kain & Scott, we honor the courage it takes to reach out to us for help in solving an overwhelming debt problem for good. We honor the courage it takes to reach out to us for help in solving a debt problem by treating you with kindness, helpfulness, professionalism and exceptional customer service. Trust me, we have heard all the horror stories of really subpar service. We have had guests tell us the lawyer they met with fell asleep during their consult, that the lawyer wanted to meet with the clients in his home, and young lawyers who meet with clients in spaces at night that are not even owned by the law firm.

Many people worry that if they file for bankruptcy, they will lose everything - their house, their car, anything of value that can be sold to pay their debts. Fortunately, this is not the case. Bankruptcy law provides for various exemptions that allow people to retain property and avoid creditors’ claims. One of the most important of these exemptions is called the “homestead exemption,” which allows people to keep their homes.

Each year, the federal government collects over $3 trillion in individual income taxes. Some people may think that’s because taxes are so high. That probably has something to do with it. The country’s high voluntary compliance rate (82 percent) may have even more to do with it.

But it’s not all good news. A lot of money, some $320 billion according to the IRS, goes uncollected. The Service states that the main problems are underreported income, underpayment of taxes, and nonfiling. The IRS has a lot of resources with which to collect this money. Even in the downsized IRS, there are agents and accountants whose sole job responsibility is collecting that unpaid tax. These individuals have a lot of tools at their disposal. In most cases, the IRS does not need a court order to garnish wages, file property liens, or even garnish bank accounts.

Lawmakers in St. Paul may spend much of 2018 wrestling with a projected $188 million shortfall. While not a staggering sum, the state will surely look for new revenue sources before it trims services. So, expect the Department of Revenue to be even more aggressive than usual in collecting past-due income taxes. That’s especially true for older delinquent accounts which have not seen much activity lately.

These tactics are actually good news for Minnesota taxpayers looking to discharge their tax debts in bankruptcy. As set out below, the Bankruptcy Code sets out very specific rules in this area. Taxing authorities strictly adhere to these rules and almost never grant exceptions.

Although some bankruptcy filing records are public record, there are several very good reasons why that partial disclosure should not deter people from filing bankruptcy. Overall, bankruptcy filings are down significantly. In September 2017, consumer filings reached a ten-year low. However, many observers do not expect the downward trend to last. Instead, Northwestern University bankruptcy professor Bruce Markell expects rising interest rates to drive the number of filings back up, as distressed consumers will no longer be able to borrow their way out of financial jams in such an environment.

Accordingly to past clients, Kain & Scott attorneys are knowledgeable, courteous, empathetic, professional, and easy going. This is different than what most people have to say about other MN Bankruptcy Attorneys. Most people describe attorneys as arrogant, rude, pompous, etc. Well, sometimes that’s exactly right. Here at Kain & Scott, however, we pride ourselves on focusing outward on the client, not inward on ourselves. Your legal representation should be focused on you, not us. These five traits you will find in each of our Kain & Scott attorneys.