What To Do Before Considering Debt Settlement In Minnesota

September 2nd, 2013 / G. Wald / Comments Off on 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

August 29th, 2013 / G. Wald / Comments Off on 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

August 15th, 2013 / G. Wald / Comments Off on 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

July 24th, 2013 / G. Wald / Comments Off on 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 […]

Do I Need To Disclose The Auto Loan That I Cosigned For In My Bankruptcy?

July 10th, 2013 / G. Wald / Comments Off on Do I Need To Disclose The Auto Loan That I Cosigned For In My Bankruptcy?

When filing for bankruptcy, you are required to report all of your liabilities and assets. An auto loan in which you cosigned for is considered a liability. Even if you do not possess the vehicle and the primary borrower makes all of the necessary payments, you are still liable for the loan. You have to […]

St Louis Park Bankruptcy Attorney: Bankruptcy Questions

June 28th, 2013 / G. Wald / Comments Off on St Louis Park Bankruptcy Attorney: Bankruptcy Questions

Bankruptcy FAQs. What do I need to begin my Minnesota bankruptcy case? Have a detailed list of past and current debts as well as a list of assets and liabilities. Additionally, you will need tax returns for the past two years, documentation of income, recent bank account and retirement statements, proof of expenses, and identification. […]

Speak With A Bankruptcy Attorney About A Hardship Discharge

June 12th, 2013 / G. Wald / Comments Off on Speak With A Bankruptcy Attorney About A Hardship Discharge

Filing for Chapter 13 gives people with a source of income the choice of devising a plan to repay some of their debt when they’re experiencing a financial hardship. This is why Chapter 13 is also known as the “wage earner’s plan.” In the instance that you’ve already filed for Chapter 13 bankruptcy, yet you […]

You Must Take A Credit Counseling Course Before Filing For Bankruptcy

May 31st, 2013 / G. Wald / Comments Off on You Must Take A Credit Counseling Course Before Filing For Bankruptcy

Before a debtor can file for bankruptcy, they must take a credit counseling course beforehand and then a financial management course before the discharge can be granted. This requirement has been in effect since 2005, when the bankruptcy code was revised. These courses are intended to educate debtors and to aid in positive financial management. […]

Set Yourself Up For Success After Bankruptcy

May 3rd, 2013 / G. Wald / Comments Off on Set Yourself Up For Success After Bankruptcy

Now that you’ve successfully discharged or restructured your debts in bankruptcy, it’s time to set yourself up for success after bankruptcy. Here are some important steps to take to ensure your success: Compile a list of any debts that were discharged in bankruptcy. Certain debts such as student loans, child support, spousal support, and some […]

What Happens When You Can’t Repay Your Tax Debt?

April 24th, 2013 / G. Wald / Comments Off on What Happens When You Can’t Repay Your Tax Debt?

It is possible to eliminate your federal income taxes in Chapter 7 bankruptcy if all of the following conditions are met: Your tax debt is from income taxes. Any taxes other than income, such as payroll taxes or fraud penalties, will not be eliminated by bankruptcy. You didn’t defraud the system. If you filed a […]

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