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 [...]
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 [...]
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. [...]
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 [...]
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 [...]
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 [...]
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 [...]
Bankruptcy can be a way of obtaining college transcripts that are withheld for nonpayment of tuition or loans. The filing of a bankruptcy petition creates an “automatic stay” that prevents any effort by a creditor to collect on a debt. The great majority of courts that have ruled on the issue have held that the [...]
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. [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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. [...]
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Email: greg@waldlawfirm.com
WE ARE A DEBT RELIEF AGENCY. WE HELP PEOPLE FILE FOR BANKRUPTCY RELIEF UNDER THE BANKRUPTCY CODE!
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