Welcome To The MN Bankruptcy Blog

Inside you will find over 300 helpful articles discussing the Bankruptcy Process, Debt Consolidation options and other solutions for difficult financial situations.

 
You can search for specific topics or just click around. If you can't find what you're looking for here or in our FAQs please Send Us A Message
 

What Happens After I File Bankruptcy?

Posted by William Kain on March 24

Bankruptcy is a subject most people want to avoid - people want to avoid the stress of having to deal with unmanageable debt. Bankruptcy is often treated as a taboo subject - only our closest friends and relatives know about our financial affairs, and there's usually an even smaller circle of people who know about our financial struggles.

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How to Determine If Filing Bankruptcy Is Right For You

Posted by Wesley Scott on March 23

Bankruptcy is a vital financial tool many that Minnesotans turn to each year for debt restructuring and debt elimination. However, it is not right for everyone’s situation. Because of the complexity surrounding bankruptcy law and the legal process involved, we advise anyone considering bankruptcy to look into the matter with an experienced MN Bankruptcy Lawyer. In the meantime, let’s take a closer look at some of the key things you must consider. It is important to understand that not all debts can be eliminated with bankruptcy. Also, not all individuals will qualify for Chapter 7 or liquidation bankruptcy. So let’s take a look at what bankruptcy can and can’t do in general terms.

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How to Talk to Kain & Scott’s MN Bankruptcy Lawyers Almost Instantly!

Posted by William Kain on March 22

At Kain & Scott, our firm helps hundreds of Minnesotans each year recover from many different types of unmanageable financial problems. When you’re drowning in debt, you don’t need to continue to struggle. Look to a professional, kind and helpful MN Bankruptcy Lawyer who understands your needs and is able to help. Each day that we put off resolving our overwhelming debt problems we are impacted negatively in a variety of ways - especially our credit rating, which is an essential financial tool for many of us. When your debts are piling up, you need help now. Here are some tips our staff has put together to aid you along the way and get you the help you need fast!

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A First Hand Look At Bankruptcy And The Types Of People Who File

Posted by Wesley Scott on March 21

There is a stigma surrounding the topic of bankruptcy that makes it a “hush-hush” topic for many people. More often than not, clients come to the Bankruptcy Lawyers at Kain & Scott after trying their hardest to avoid filing bankruptcy. It isn’t like the court is going to stamp the word “BANKRUPTCY” on your forehead, but for many it can feel that way. The hardest part in filing bankruptcy is often accepting that bankruptcy may be the best solution to your overwhelming debt. What people should realize, is that bankruptcy doesn’t have a look, a lifestyle, a gender, an income, or a one-size-fits-all story. Bankruptcy is a single solution to an infinite number of problems for a diverse range of people.

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4 Steps To Filing Chapter 7 Bankruptcy in Eagan, Minnesota

Posted by Wesley Scott on March 20

Thinking about whether or not to file Chapter 7 Bankruptcy often takes our guests some time to think about. They, of course, want to deliberate and let it sink in and make sure it makes the most sense for themselves and their family.

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The Cure to Your Bankruptcy Blues

Posted by Erick Bohm on March 17

Overwhelming debt causes stress, relationship issues, and sleepless nights. Bankruptcy can help resolve all of this. Let’s face it, nobody wants to file bankruptcy, but instead of focusing on the negative, let’s focus on how we go about solving the problem in front of you. Whether you have been struggling with overwhelming debt for five years or five months, bankruptcy may be a great option to help you get your life back.

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Common Questions Regarding Chapter 7 Bankruptcy

Posted by Erick Bohm on March 16

1. What is Chapter 7 Bankruptcy?

Chapter 7 Bankruptcy is also known as the “fresh start” bankruptcy. Chapter 7 Bankruptcy provides debtors (an individual who files bankruptcy) with the opportunity to escape liability on certain types of secured and unsecured debts. Upon successfully receiving a discharge, debtors are no longer liable for money owed on most debts.

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What Is Chapter 7 Bankruptcy? - Part 2

Posted by Wesley Scott on March 15

Hi again! I am back for part 2 of What Is Chapter 7 Bankruptcy. In Part 1 we covered why bankruptcy in the first place. We learned that bankruptcy is a necessary process to create order out of chaos. We learned that chaos is bad and order is good. But, once you file a chapter 7 bankruptcy then what? What happens to debtor’s assets? Can you keep everything? Do you lose everything?

If there is one aspect that scares most people about a Chapter 7 Bankruptcy it is the prospect of losing assets when you file bankruptcy. Is it obvious that no one wants to lose assets? Yes, that should be obvious. When you are down and out and can’t pay your bills and you have lost so much already, the last thing you want is to lose even more.

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What Is Chapter 7 Bankruptcy? - Part 1

Posted by Wesley Scott on March 14

We get this question all the time. Wes, What Is Chapter 7 Bankruptcy? How does it work? Do I lose assets? Can I get rid of all debt? What about taxes? What about student loans? These are all great questions. The saying is knowledge is power. That is what we believe at Kain & Scott as well. The more you know, the more empowered you feel about your own circumstances. When we explain to people that what they think happens is not really what happens you can see our guests lay further back in the chairs and relax.

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When Is The Best Time To File Bankruptcy?

Posted by William Kain on March 13

Every day, the MN Bankruptcy Lawyers at Kain & Scott see people who are in financial distress - the people with whom we meet find themselves in debt situations that are not easily resolved. Of course, the degree of the financial problem varies from client to client, but our clients come to meet with us because they know that their problems can’t be solved easily.

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Kain & Scott's MN Bankruptcy Lawyers Recipe For Debt Relief

Posted by Wesley Scott on March 10

Overwhelming debt can be exhausting, both physically and mentally. More often than not, those experiencing overwhelming debt don’t know where to turn for help. For most debt problems, bankruptcy is the Recipe for Relief from the stress and anxiety of crushing debt. At Kain & Scott our MN Bankruptcy Lawyers Recipe for Relief is a simple four step process: 1) Free No Obligation Consultation, 2) Review and Sign Meeting, 3) 341 Meeting, and 4) Discharge.

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4 Tricks To Picking The Best MN Bankruptcy Law Firm

Posted by Wesley Scott on March 9

Every year, roughly 10-12,000 Minnesotans file bankruptcy. I think there are twice that number who should file bankruptcy every year but don’t. I am always amazed at how tough Minnesotans really are. By that I mean they put up a good fight for a long time before they turn to bankruptcy. Mind you- I am not at all suggesting they should wait long to file bankruptcy because quite frankly, that is the number one regret we hear from our guests all the time.

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Where Does Bankruptcy Come From - Part 6

Posted by William Kain on March 8

Over the past month, I’ve written about the History of Bankruptcy - from its ancient, biblical origins, through the ancient world and in Europe during the Renaissance period. I’ve paid particular attention to the history of bankruptcy in the United States. I’ve written about the inclusion of bankruptcy in the Constitution as the exclusive legislative prerogative of Congress, and looked at the attempts Congress made to pass a national bankruptcy law in 1800, 1841 and 1867 - all attempts at having an orderly system of bankruptcy in the United States, all eventually politically unpopular and all, eventually, repealed.

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3 Things To Look For In A MN Bankruptcy Law Firm

Posted by Wesley Scott on March 7

It’s not easy researching which MN Bankruptcy Law Firm to use for your bankruptcy case. There are so many where do you start? It seems overwhelming and so many claim to do bankruptcy work. Do I just throw a dart and hope the one I pick is the right one for me? Hell to the no! Spend some time researching law firms. When you do, you will find the right one for you.

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One Women's Story About Living With Overwhelming Debt in Eden Prairie

Posted by Wesley Scott on March 1

Let me tell you the story of a former client of mine. She lived in Eden Prairie, Minnesota. I will call her Eve Padonk. Eve was an office worker at a local high school. She is a very nice person with a story to tell.

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