What to Know About Minnesota Bankruptcy Exemptions
Bankruptcy can be a difficult decision, and you may wonder if you will have to give up all your possessions. When determining if this step is right for you, you should know about Minnesota bankruptcy exemptions that will allow you to clear your slate while keeping many of your assets. For more information about […]
How Often Many Times Can I File for Bankruptcy?
You can make multiple bankruptcy filings; however, there may be time limits related to when you can file and obtain a debt discharge. The timelines for Chapter 7 and Chapter 13 differ, so you should consult with a bankruptcy attorney before making any decisions about filing. Call Gregory J. Wald Attorney at Law today at (952) 921-5802. How […]
When Unemployment Leads to Bankruptcy
Facing bankruptcy and unemployment may seem complicated, however in many cases, being unemployed may improve your chances of qualifying for Chapter 7 bankruptcy. Essentially, the lower your disposable income, the more likely you’ll pass the means test. In addition, unemployment may even allow you to pay less money to unsecured creditors during Chapter 13 bankruptcy. Let’s examine […]
Can You File Bankruptcy on Student Loans?
Can you file bankruptcy on student loans? Yes. But the bigger question is whether you will qualify for a discharge or not. Unfortunately, most people do not qualify to discharge their student loan debt through bankruptcy. You can only eliminate this type of debt if you can successfully prove that paying back your loans will […]
Filing Bankruptcy on Credit Cards
You may have used your credit card to pay for necessities, such as medical bills or car repairs. But what happens when your credit card debt gets to be too much, and you fall behind on your payments? Below, we discuss what you need to know about filing bankruptcy on credit cards. What Happens If You […]
Can You File Bankruptcy on Medical Bills?
A medical emergency can happen without warning leaving you out of work and deeply in debt. With or without health insurance, it’s easy for medical bills to quickly pile up. But how can you fully recover from your injury if you are constantly stressed about your medical debt? Can you file bankruptcy on medical bills? Yes — […]
How Long Does Bankruptcy Chapter 7 Take?
By now, you’re probably already aware of the benefits of Chapter 7 bankruptcy — one of which is that you can get your debt discharged relatively fast. But how long does bankruptcy Chapter 7 take, from filing to closing? How soon can you get a fresh financial start? While Chapter 7 typically takes four to six months to […]
Can One Spouse File Bankruptcy Without the Other?
No one looks forward to filing bankruptcy. And the last thing anyone wants is for it to negatively impact their family. But what if you and your spouse are struggling with debt and bankruptcy is the only option? Can one spouse file bankruptcy without the other, or should you file together? Below, we discuss the […]
Can You File Bankruptcy on Taxes?
There are a myriad of reasons why you may have gotten behind on your taxes. A family emergency, a serious medical issue, or a natural disaster may have forced you to focus on more important matters and put taxes on the back burner. But no matter the situation, it is impossible to try and hide from the IRS forever. The agency […]
How Does Bankruptcy Affect Your Credit?
One of the most common fears people have about bankruptcy is the impact it will have on their credit scores. But how does bankruptcy affect your credit? Will it trash your credit score forever? In reality, it depends. Bankruptcy may hurt your score initially, but over time it can give you a good chance to wipe […]