With tax season is fast approaching. For many of us this means the exciting prospect of tax refunds giving your bank account a healthy boost. Many clients that we will see in the coming months will be forced to weigh their options about when to file bankruptcy and/or what filing bankruptcy will mean for their tax refunds or their tax debts.
Many of our guest feel isolated and helpless when they first walk through our doors. They have exhausted every avenue and it feels as if every door has been slammed shut in their face. We are their last resort, their last hope. What many do not realize is that Kain & Scott’s helpfulness and companionship does not end with your bankruptcy discharge or the closing of your case.
Contemplating filing a Chapter 7 or Chapter 13 Bankruptcy is gut wrenching. If you are a person with low anxiety, your anxiety level will even shock you during this kind of time. It is perfectly normal to feel afraid when you are contemplating bankruptcy and its effects (which by the way, are the opposite of what you think!). The anxiety you suffer through when contemplating bankruptcy should be honored by the bankruptcy law firm you deal with.
Wouldn’t it be great if we had a FREE interactive bankruptcy tool which would allow you to determine a) should you file bankruptcy and b) should you file a Chapter 7 or Chapter 13 Bankruptcy? Surprise! We do have this available to you! If you go right now to www.kainscott.com you will find a FREE interactive tool which will help you decide a) should you consider filing bankruptcy, and if so, should you consider filing a Chapter 7 or Chapter 13 Bankruptcy?
You may wonder if there is any sort of protection afforded to you when you file for bankruptcy. Good news, there is! The bankruptcy code has a provision, 11 U.S. Code Section 362, that offers debtors relief from the endless communication and disturbances from creditors. This provision is known as the Automatic Stay. It is certainly one of the benefits of filing for bankruptcy.
For some reason, Rochester, MN has some issues with bankruptcy “professionals” located in and around Rochester, MN. Sometimes, these “professionals” are not even in Rochester, MN but they are located out of state. Recently, I was doing some research of my own and came across some interesting information. If you are looking to file Bankruptcy in Rochester, MN, and you are looking to hire a bankruptcy “professional” you should be aware of these two things. I know I would want to know both of these if I were searching for a bankruptcy professional in Rochester.
After filing for bankruptcy, many are frustrated to find that long after the fact when they are applying for home or auto loans a judgment pops up on their credit report. They are confused because this judgment was supposed to have been discharged through their bankruptcy.
Many people who live in or around Rochester, MN are considering bankruptcy right now. If you are considering bankruptcy, watch out for this one issue that trustee’s look for all the time. They watch to see if people who file bankruptcy pay family members money owed to them in advance of filing bankruptcy. What is the big deal, you say, if you pay your parents back 10k within a year prior to filing a Chapter 7 bankruptcy? Well, it really isn’t a big deal to pay back your parents 10k. But this assumes you are not filing Chapter 7 Bankruptcy within a year of paying your mom and dad back.
When folks think about bankruptcy, they often think about a Chapter 7 Bankruptcy. A Chapter 7 Bankruptcy is often referred to as the “fresh start” bankruptcy. The idea is to eliminate your debt and start over fresh! Each year, thousands of Minnesotans hit the “reset” button we call Chapter 7 Bankruptcy and get their lives back. But, what really is a Chapter 7 Bankruptcy and how do I get started?
Meet Tony and Lisa. They were leading a middle class lifestyle for a long time. Tony was a 10th grade history teacher and Lisa was an RN. They always made decent money and always were able to pay their bills on time. They would both admit they lived a great lifestyle. They lived in a 500k home, took trips often, and drove really expensive vehicles. Financially, life was really good.
Bankruptcy is an emotional and sensitive topic. When Minnesota professionals refer their guests to a Minnesota based law firm, they want the law firm to take extraordinary care of their clients they are referring. As a lawyer, I do not find it funny to refer a client of mine to a company only to find out the client was treated poorly by the company. In fact, at Kain & Scott, we ONLY refer our guests to companies and lawyers who promise to treat our guests well. If they fail to, they come off our list.
Minnesota professionals refer their clients, who are overwhelmed with debt, to Kain & Scott. Who are these professionals? Attorneys all across Minnesota trust Kain & Scott to treat their clients with kindness, helpfulness, professionalism, and exceptional customer service. Attorneys who refer their clients to Kain & Scott know that they are referring their clients to Minnesota’s HIGHEST GOOGLE reviewed bankruptcy law firm and their clients will be treated exceptionally well. Don’t trust my word for it, trust the hundreds and hundreds of 5 star reviews describing their experience with Kain & Scott.
Unfortunately for Minnesotans already suffering with overwhelming debt, there are now companies suggesting that filing bankruptcy yourself is a great idea. Take it from Minnesota’s OLDEST bankruptcy law firm, who has seen the aftermath of Minnesotan’s trying to file bankruptcy themselves, not only is it not a good idea at all, but it is not free when you make mistakes and end costing yourself far more money than if you would have hired a lawyer to begin with. Don’t fall for the bait. Who wins if you mess up on your bankruptcy schedules? Creditors win—you lose.
As a bankruptcy attorney, I see people with all sorts of issues and harassment they are facing from their creditors, and it is amazing the length that collection agencies will go through in order to collect past-due debts. Everyone wants to pay the bills they’ve incurred, but unplanned events can throw-off even the most prudent financial planners. Regardless of whether a payment was missed for valid reasons (like vehicle repairs, medical debt, job loss/income drop, etc.), collection agents will soon be calling non-stop (possibly at your work) and demanding late fees, accrued interest, and enforcing acceleration clauses which makes the full underlying balance immediately due! What’s worse, is that these collection agents are incredibly hard to get in contact with, and they do not inform people of their rights when pursuing every avenue available to collect their debts.
We all do it. We make financial mistakes and over extend ourselves. If you live in Minnesota and you are knee deep in debt, start 2020 out right and file Chapter 7 Bankruptcy. Nothing allows you to move beyond debt quicker than filing Chapter 7 Bankruptcy and getting your life back now. As the holidays pass us by, we know the debt that is left over. Our hearts are always in the right place but our pocket book doesn’t seem to keep up with our heart.
