Credit reporting is big business. Bigger than it's ever been in years past. There are mobile apps to track your credit score, credit cards designed to provide you with a free credit score every month and agencies you can hire specifically to help re-build your credit score. All these businesses that have popped up in the last few years only prove to us how important your credit really score is.

Financial difficulty brings with it a lot of distress. A person who is facing overwhelming debt is searching for ways to cope with, and eventually, overcome the financial challenges with which he or she is dealing. Many individuals dealing with the stress of debt that cannot be serviced look at bankruptcy as an option to resolve financial problems. But in considering whether to file a bankruptcy case, these individuals often worry about whether the property that they own ­ whether it is real estate or personal property ­will be protected if the individual decides to file a bankruptcy case.

One of my clients largest concerns is what will the future look like after bankruptcy. How will my credit be affected? Will I be able to get lending again? Will I be able to buy a car? Will I be able to buy a house? This blog will address renting and buying a house after filing a bankruptcy.

You are like me. I am high anxiety and have unrealistic fears about different things. Most of us would have a normal fear about speaking to a bankruptcy attorney about a debt problem. Why? We humans have a problem with losing, defeat, and not paying our bills right? It causes us to be embarrassed, feel defeated, and just generally really crappy inside.

The past two weeks I’ve written about the Bankruptcy Code’s provisions that govern who can file a bankruptcy case and in what state a bankruptcy case may be filed. I looked at the definitions of who may be a debtor - and noted the differences between the very inclusive chapter 7 and the much more exclusive chapter 13. I discussed the venue of a case last week - and noted the requirements in Title 28 of the United States code that governs venue of a bankruptcy case: residence, domicile and the existence of the principal place of business and/or the location of the principal assets of a business.

Chapter 7 Bankruptcybegins once an individual seeking debt relief files a petition with the Bankruptcy Court. Here in Minnesota all of our counties are divided up and assigned to a small number of divisional offices. For example, anyone residing within Hennepin County would file their Bankruptcy Petition with the Minneapolis office. There are also several other pieces of required information which will need to be submitted and reviewed in order for your bankruptcy to be approved and your debts discharged

When you are digging into what a Chapter 7 Bankruptcy Trustee in Minnesota looks like, have you ever wondered who this person is and what on earth do they do? I am a veteran MN Bankruptcy Attorney and when I first started out many years ago, I wondered myself what the Chapter 7 Trustee does. If you file a Chapter 7 Bankruptcy in Maple Grove, Minnesota, or anywhere else in Minnesota the United States Trustee’s Office will assign a Chapter 7 Trustee to your Bankruptcy Case.

Beginning the process of filing bankruptcy can seem like an overwhelming task but at http://kainscott.com we have several great resources readily available to any Minnesotan seeking relief from their financial hardships.  Our team of expert MN Bankruptcy Attorneys are always happy to address any and all of your specific concerns because we always want to ensure that you are well-informed and comfortable throughout the process.  Before beginning the bankruptcy process take a few minutes to familiarize yourself with the information contained within our free E-Guide titled “What To Expect In Your Bankruptcy Consultation” which is available on our website and by clicking the link I’ve provided at the bottom of this blog.  This e-guide is intended to provide a basic understanding of the procedures and expectations regarding Bankruptcy and it will give you a good starting point when beginning to consider your options. In the meantime here are a few other facts about Bankruptcy in MN that you should know.

When many of us are asked to describe the type of people who we think Contact MN Bankruptcy Lawyers we often begin to apply very negative associations with what we view a bankruptcy debtor to be.  Many people believe those who seek debt relief through bankruptcy are irresponsible with their finances or indigent because of a lack of effort on their part to better their circumstances.  In Minnesota we take great pride in our earning ability, possessions and financial stability yet these things do not define who we are as individuals nor is anyone invulnerable to sudden financial hardship regardless of their prior success, finances or possessions. 

So, you are sitting at home wondering about your debt right? You are wondering how it is that end the end of each paycheck you have no money left. By the time you make minimum payments on your credit cards and other expenses that’s it- money all gone. This is especially true if you have fallen into the pay day loan trap. I have been there myself when I was in college. You sell your soul to get a few bucks today but what you pay back is far more than you borrowed- it makes you physically sick just thinking about it.