Can You Go To Jail For Debt?

Until the mid-19th century, many people would go to jail for debt.  Similar to today's workhouses, you could go to jail for debt until the debt was paid off.   Debtors prisons were abolished long ago, but there are still are ways that you can go to jail for unpaid debt. If you are held in contempt [...]

Medical Bankruptcy

Harvard study found that nearly 70% of bankruptcy cases are Medical Bankruptcy.  With today's high deductibles, the situation hasn't improved.   Illness can mean time off of work and reduced income.  Medical Bankruptcy eliminates medical debt, but only the medical bills that are owed as of the date of filing your bankruptcy petition.  If you are currently running [...]

HELP! I’VE BEEN SUED!

Have you been sued in Minnesota? - Understanding Debt Lawsuit When credit cards, bank loans, medical bills and other debts become seriously delinquent, the creditors usually send them to a collection agency first.  If the collection agency can't collect the debt, then it may go to a collections lawyer who will sue to collect the debt.  [...]

What’s New About Getting a Mortgage After Bankruptcy

The waiting period for obtaining an FHA or VA mortgage after bankruptcy is two years after you receive your Chapter 7 bankruptcy discharge..  It normally takes about three months to get your discharge after we file your bankruptcy petition with the court.  However, there is a new rule that allows you to obtain an FHA [...]

Discover the Difference Between Debt Management Plans and Filing Bankruptcy

Credit counseling companies were originally created by the banks to collect debts for them.  They offer "debt management plans" where by people can consolidate their debts and pay them off in full over a period of five years.  They try to negotiate lower interest rates for the credit cards so that they can be paid [...]

How Often Can I File Bankruptcy?

When a person has filed bankruptcy in the past, they may want to know how long they must wait to file bankruptcy again.   If a person has filed a Chapter 7 bankruptcy petition and received a discharge of their debts, they must wait 8 years before they can file another Chapter 7 petition.  However, the [...]

How Can I Afford To File For Bankruptcy When I’m Already Short On Funds?

It costs money to hire an attorney and pay a court filing fee. How can you file for  bankruptcy when you are already short on funds? Some of the best bankruptcy attorneys offer a free half hour consultation so that you can learn your options. If bankruptcy is not the best option for you, the attorney [...]

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, [...]

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 [...]

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