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.

 

      Modified Chapter 13 Bankruptcy Plans – What Are They and What Do They Do?

      Posted by James Jensen-Kowski on September 13

      Modified plans, also sometimes referred to as mods, are a common term often heard in the context of a bankruptcy.  Specifically, they are frequently referenced or invoked when discussing a Chapter 13 bankruptcy and the related Chapter 13 bankruptcy plan.  Upon hearing the term you might ask, “What is a modified plan” and the related question, “What does a modified plan do?”  At the most basic level, a modified plan is a Chapter 13 bankruptcy plan that has been altered in some way to better suit the needs of the person who filed it.  A modified plan can be beneficial in a broad number of ways, and can be implemented for a wide variety of different reasons, but the basic purpose of a modified plan is to make the process of the Chapter 13 more feasible, to increase its probability of success, or to make it more impactful for the filer.  

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      Chapter 13 Bankruptcy or Traditional Debt Relief Agencies: Which Way to Go?

      Posted by Wesley Scott on July 13

      If you are reading this article, I’m sure you’ve heard numerous ads for debt relief programs. Debt relief programs encompass a range of strategies and services designed to help individuals and businesses manage and reduce their debt burdens. These programs may include debt consolidation, debt settlement, credit counseling, and bankruptcy assistance. Now, these are options for folks facing financial straits and do work for some people. However, this blog aims to present the key differences between a Chapter 13 bankruptcy and debt relief programs so that you have all the facts you might need.

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