What are the main differences between a Chapter 7 Bankruptcy and a Chapter 13 Bankruptcy?  Sometimes, it helps to peel the onion back, layer by layer, and go back to the basics. What are the primary differences between a Chapter 7 and Chapter 13 Bankruptcy? We will leave the question of which one you should file for a different day.

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.

If you are living in or around Woodbury, MN and suffering from overwhelming debt, you are not alone. Each year, more than 15,000 Minnesotans file for bankruptcy protection because the debt simply becomes unmanageable. Suffering from overwhelming debt is mentally and physically stressful. If you find yourself in this position, there are a few things to do right now.

Ah the great state of Minnesota in the summer. Fishing, barbeques, fireworks, the sound of loons. I love it. But, if you are suffering from overwhelming debt in Minnesota, these things may not have the same meaning for you. It’s hard to enjoy Minnesota summers when all you can think about is your overwhelming debt.

Out of all of the questions we get asked, this is by far and away the single biggest question we get at Kain & Scott. Everyone, and rightly so, wants to know if I file bankruptcy how will this impact my ability to get future credit. And what you think happens, does not. If you live in Woodbury, Minnesota, or anywhere else in Minnesota, read on.

Many of our guests simply know they need to file bankruptcy. What they don’t always know is who should they hire to help them get their lives back. Recently, we put together a 15 minute video to help with answering the question of who should you hire to help you get your life back. 15 minutes could save you a lot of headache and money! You will soon see the video on our website at www.kainscott.com.

Have you ever listened to the supposed “gurus” on debt who tell you to avoid filing bankruptcy? Why do you suppose they tell you to avoid filing bankruptcy? Perhaps it is because the so called “guru” is making money on you not filing bankruptcy. That is right, how many programs are being sold or seminars held telling you to avoid filing bankruptcy but then proffering some lame program to keep you mired in debt for years? Some of these “gurus” have even filed bankruptcy themselves!

Kain & Scott is St Cloud, Minnesota’s highest google reviewed Bankruptcy Law Firm, St Cloud, Minnesota’s largest bankruptcy ONLY law firm, St Cloud, Minnesota's oldest Bankruptcy Law Firm and St Cloud, Minnesot'a only Bankruptcy Law Firm to help Minnesotan's get debt free and repair their credit using our exclusive FREE 90 Day Credit Repair Program. Exciting? We think so!

Having a medical problem is awful enough- but just wait until you get home and receive the medical bills. If you didn’t want to die before, you will now. It shouldn’t be this way. You should not have to go bankrupt to protect your family from medical problems. And yet, our health insurance coverages get worse and the medical out of pocket costs grow larger.

Apart from politicians and large medical providers, who else benefits from a system like this? No one! The problem with overwhelming medical debt is it’s so unpredictable and uncontrollable. You can’t help medical problems for the most part.

Recently, a Bankruptcy Judge sanctioned UpRight law and some of it’s “partners” and banned UpRight and some of its “partners” from filing bankruptcy cases in the Western District of Virginia. UpRight also heavily solicits Minnesotans suffering from overwhelming debt too. I am cautioning every single person I know to be very suspicious of UpRight and its’ business model.

Are you like me in that you hate going to multiple sites just to piece together the information you are looking for on a topic? I hate that. That is why Kain & Scott put together a website at www.kainscott.com so Minnesotans researching bankruptcy in Minnesota could find answers to all their questions in one spot! Novel? We think so!

Chances are, if you are considering filing Chapter 7 Bankruptcy in Minneapolis, MN, you are thinking that filing bankruptcy would be terrible for your credit score and profile. If you believe this, you are like the vast majority of Minnesotans. When most Minnesotans think about bankruptcy, and its’ impact on ones’ credit score, you think that bankruptcy would be devastating. Guess what? You are all wrong!

In our day-to-day practice at Kain & Scott, our attorneys will typically field a few contacts every month from business owners who are financially stressed.  The business owners typically have this, or a variation of this question: my business is in financial trouble, should the business file a bankruptcy?  It’s such a simple, and such a common question. One of the reasons the United States has a bankruptcy law is to provide a safety net from small business owners - to allow the business owners to take financial risks without having to worry about financial ruin if the business experiences significant reverses.  But while the question is simple, the answer is usually at least a little complicated. Let’s look at the factors that should be considered in making a decision as to whether to have a business file a bankruptcy case.

Our Minnesota guests are proof. Proof of what? Proof that Kain & Scott has an antidote for anxiety caused by overwhelming debt. How do I know this to be true? Because our guests say it all the time. It goes something like this- I was so nervous about bankruptcy and my debts before I met with Kain & Scott, and then once I met with the people at Kain & Scott, my anxiety went away and I felt like I could get through this with their help!

Legally, people in Minneapolis can file bankruptcy as many times as necessary. There are no filing limits. Multiple filings do have some adverse consequences, as set out below. However, this fallout is not as bad as some people think it is.

Besides, if properly done, bankruptcy is usually a once-in-a-lifetime proposition. A voluntary petition is a fresh start in almost every sense of the phrase. Actor Gary Busey, who is well-known for his “Buseyisms,” may have put it best in the wake of his own 2012 filing. He described bankruptcy as Bringing A New Knowledge Regarding Understanding Past Tribulations Concerning Yourself. That’s a very long way of saying that you have the power to reverse your financial fortunes, even though the filing itself was probably not your fault.

Bankruptcy is an investment for our clients. When finances are tight, anything is a significant investment. But the investment always pays off. The amount of money the client pays is nearly always inconsequential when compared to the tens of thousands of dollars of debt that is discharged. Furthermore, bankruptcy gives Minnesota families a fresh financial start. That’s something which is almost literally priceless.