What Happens to Your Motor Vehicle in Minnesota Chapter 7 Bankruptcy?

Most people who file for bankruptcy own or lease a car, truck, or motor cycle.  A motor vehicle is often a necessity, so, if you are thinking about bankruptcy, you are probably concerned about the fate of yours. What happens to your motor vehicle in Minnesota  Chapter 7 bankruptcy depends on whether it is fully [...]

What to Expect at the Meeting of Creditors in a Chapter 7 Bankruptcy

  Several weeks after your Minneapolis Chapter 7 bankruptcy case is filed, you will be required to attend a Meeting of Creditors, also called the 341 hearing. The court will send out a notice of the location, date, and time a few days after your case is filed. The meeting of creditors is a court [...]

Overview of Chapter 7 Bankruptcy

Bankruptcy laws provide individuals seeking debt relief two main avenues to that relief: Chapter 7 and Chapter 13. Chapter 7 bankruptcy, often called liquidation or straight bankruptcy, is the most common form. In Chapter 7 debts like credit cards, medical bills, and utility bills can usually be completely discharged or wiped out. Bankruptcy courts may [...]

Keeping Track of Companies You Owe Money To

When you run into financial problems and bills begin to mount, it can sometimes be hard keeping track of companies you owe money to. You might receive calls from multiple collection companies and they often do not identify who they are collecting for. In order to eliminate your debts in bankruptcy it is important to [...]

Brooklyn Center Bankruptcy Attorney: How To Pay For Bankruptcy

Chapter 7 Bankruptcy Chapter 7 bankruptcy allows a person to eliminate most types of debts completely, while allowing a person to keep all assets that are exempt from creditors.   The court filing fee and attorney’s fee for Chapter 7 bankruptcy must be paid in advance.  If a person wants Chapter 7 bankruptcy and is not [...]

Get That 800 lb Gorilla Of Debt Off Of Your Back!

Debt is an 800 lb gorilla on our backs. It can consume our thoughts and have us living in a paranoid state whenever the phone rings or the mail comes. They are all little reminders of the impending doom we feel from debt. Are your accounts being turned over to debt collectors? Are you worried [...]

Can Tax Debts Be Simply Eliminated Through Filing For Bankruptcy?

There are many ads on the TV and radio that claim tax debts can simply be eliminated through filing for bankruptcy. Unfortunately, this is not always true. Income tax debts are able to be discharged in Chapter 7 bankruptcy if all of the following is true: All tax returns for the tax debt you're seeking [...]

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, [...]

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 [...]

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. [...]

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 [...]

Co-signers and Bankruptcy

Bankruptcy provides a fresh start for many, but what happens when some of your secured debt, such as a vehicle, has a co-signer? If you are planning on filing for Chapter 7 bankruptcy, and in doing so surrendering secured property, you should understand that when it comes to co-signers and bankruptcy, the protection of bankruptcy [...]

The Difference Between Secured and Unsecured Debt

The type of debt you have plays an important role in what happens if you default on a loan. There are two types of debt. Secured and unsecured debt. Secured Debt is any debt that is backed by some sort of physical property, such as a car loan or a mortgage. The car loan is [...]

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