Bankruptcy Myths: Will My Credit Be Ruined Forever If I File For Bankruptcy In Minnesota?
Bankruptcy Myths “My credit will be ruined forever if I file for bankruptcy.” While bankruptcy does stay on your credit report from seven to 10 years (depending on which type of personal bankruptcy you file), often times your credit is even better (with time) because you’ve taken control of your finances and have attainable goals. […]
Failing To Complete A Credit Counseling Course Can Ruin Your Bankruptcy Case
Did you know that failing to complete credit counseling course can ruin your case? In both Chapter 7 and Chapter 13 bankruptcy, credit counseling is required. One course must be completed within 180 days before your case is filed and another must be completed before the case can be discharged. As a rule of thumb, […]
Once Bankruptcy Is Filed, The Trustee Will Look Into The Past 90 Days Of Spending To See If You Attempted To Defraud The System
This the season for giving… and racking up debt. If you’re planning on filing bankruptcy after the holidays you’ll want to avoid these common mistakes, it could seriously jeopardize your bankruptcy. We all get into the holiday spirit of gift giving while failing to think of ourselves. Draining your checking account, without setting any funds […]
Tips For Maximizing Your Budget During The Holiday Season
Maximizing Your Budget Thanksgiving kicks off the start of the holiday season, which also happens to be the season in which we spend the most. You may feel like it’s difficult to avoid going into debt during this time, but here are some tips that will help you save money. Calculate a budget and stick […]
Receive Bankruptcy Protection Protection From Creditors
We offer immediate bankruptcy protection from creditors upon filing your bankruptcy petition. When we file a bankruptcy petition with the court, it creates a blanket court order called an “automatic stay” against creditor collection efforts. All collection efforts will cease. We stop harassing calls from collection agencies. We can stop repossession of your car and […]
Your Health Savings Account Can Be Affected In A Minnesota Bankruptcy Case
Did you know that your health savings account can be affected in a Minnesota bankruptcy case? A federal Bankruptcy Appellate Panel upheld Minnesota Bankruptcy Judge Kathleen Sandberg’s original ruling that health saving accounts (HSA’s) are property of a Chapter 7 bankruptcy estate. The case that brought this issue to the forefront is Leitch v. Christians. […]
What To Do Before Considering Debt Settlement In Minnesota
If you are contemplating debt settlement In Minnesota with a creditor or a third party, rather than filing for bankruptcy, you may want to think again. For those who have the funds available to settle those debts, you may incur steep financial consequences. As an example, if a debtor has $40,000 in credit card debt […]
Discharging Student Loan Debt In Bankruptcy
Before discharging Student Loan debt in bankruptcy, it is necessary to prove an “undue hardship”. The courts have ruled that “undue hardship” means something more than “garden variety” hardship. Bankruptcy courts across the county apply different formulas when determining whether undue financial hardship exists. In Minnesota, the court uses the “totality of the circumstances” test […]
Successful People Who Have Filed For Bankruptcy
Many people have a negative connotation associated with filing for bankruptcy. That thought needs to be dispelled. Bankruptcy protection was included in our Constitution to offer relief to debtors and to provide them the opportunity for a fresh start. Bankruptcy should be considered a new beginning for your family. Successful people who have filed for […]
Who To Call In Minnesota When You Are Harassed By Debt Collectors
Harassed By Debt Collectors? Learn about Dealing With Harassment From Debt Collectors & Creditor Harassment Enduring harassment at home and at work by overzealous creditors can exacerbate the stress and pressure you’re already feeling because of your debt. One of the many reasons people file for bankruptcy is to stop harassment from creditors. Debt collectors […]
