Welcome To The MN Bankruptcy Blog

Inside you will find over 500 helpful articles discussing the Chapter 7 & 13 Bankruptcy Process 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
 

A True Story Of One Woodbury, MN Couple Who Filed Chapter 7 And Won!

Posted by Wesley Scott on July 24

Did you ever think it was possible to win at filing chapter 7 bankruptcy? It is. Recently, one couple in Woodbury, Minnesota found out how. It doesn’t matter who you are, life is humbling. This was especially true for one Woodbury couple who we recently met with.

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Escape Debt Danger With The Best Bankruptcy Lawyers in Woodbury, MN

Posted by William Kain on July 23

Does your debt make you feel like you are walking on a tightrope without a safety net? Are you in constant danger of falling further behind on your bills as you struggle living paycheck-to-paycheck?

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How A Bankruptcy Can Stop Foreclosure Proceedings

Posted by Kelsey Quarberg on July 21

In Minnesota, the foreclosure process takes a pretty long time. The average non-judicial (most common) Minnesota foreclosure lasts anywhere from 9 to 12 months, sometimes even longer! When faced with foreclosure, a homeowner has a few options 1) surrender the home to the bank (and potentially file Chapter 7 Bankruptcy), 2) redeem the home, or 3) file Chapter 13 Bankruptcy. Here I will discuss the pros and cons to each of these options.

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What Debt Consolidation Programs Conveniently Forget to Tell You

Posted by Wesley Scott on July 19

When you meet or discuss with a debt consolidation company they may not explain the “fine print” associated with their programs. At first glance debt consolidation programs seem appealing but before you sign the dotted line, make sure you know the fine details of the program you are signing up for. Here is a summary of details some debt consolidation companies try to gloss over to make their programs more appealing:

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3 Steps to Answer the Question, "Should I File Bankruptcy?"

Posted by Wesley Scott on July 18

As a bankruptcy attorney, I know that individuals and couples go through several stages when they are answering the question “Should I file bankruptcy?” While most consumers follow a similar process when tackling this question, not every person will follow the same exact path to decide whether or not bankruptcy is right for them. This is because each person’s or couple’s financial situation is unique; however, through years of experience and by helping thousands of clients through the bankruptcy process, my partner and I have learned that most debtors go through at least three stages before deciding if they should file bankruptcy. While not all three steps are necessary, and many may skip to the last and most important step, there is some value in each of the following steps.

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MN Bankruptcy Lawyer Explains: What Happens When You Default On Credit

Posted by William Kain on July 18

Most of the potential clients our MN Bankruptcy Lawyers meet with at Kain & Scott have defaulted on at least one of the accounts they hold. For many of the people I meet, they have been able to stay current on some accounts, but because of their financial circumstances, they have not been able to maintain current payments on all of their accounts.

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Do Debt Consolidation Loans Actually Work?

Posted by William Kain on July 16

There are many situations in which debt consolidation loans can be used and applied. In some situations a debt consolidation loan will benefit your financial situation, and in others it will not. Determining the best solution suited for your specific situation can be tricky, and I highly recommend discussing with a legal professional or financial advisor before taking action.

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Pros and Cons of Bankruptcy, from a Filer's Perspective

Posted by William Kain on July 15

Nancy*, one of my previous clients, went into her bankruptcy kicking and screaming. Here is how she tells her story today: Filing a bankruptcy case was the last thing I wanted to do, but I had lost my job and the bills began to pile up. There was no end in sight. I hated imagining what my parents, neighbors, co-workers and friends would think when they found out that I filed bankruptcy. I tried to find another way out of debt; however, nothing I tried helped and some solutions even made the situation worse.

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How Does Debt Consolidation Work?

Posted by William Kain on July 14

Debt consolidation can be a very confusing concept. Generally speaking, debt consolidation works by combining all of your debts into one payment, often extending your repayment period, resulting in an increased total amount paid. There are four options commonly sought by those looking to get out of a difficult financial bind through debt consolidation and each works in its own way.

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6 Steps To Getting Your Life Back Through Bankruptcy in MN

Posted by Erick Bohm on July 13

When was the last time you sat down and asked yourself, “how did I get here”? Chances are you say this to yourself all the time, but, truly, when was the last time you sat down and forced yourself to answer the question? If you’re like most people, you don’t spend much time with self-reflection. Self-reflection is incredibly important so you can truly understand the situation you’re in, how you got there, and how to get you where you want to be.

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Finding a Minneapolis MN Bankruptcy Lawyer To Help You Get Debt Free

Posted by Erick Bohm on July 12

Do you ever wonder why a Minneapolis Bankruptcy Lawyer would only offer bankruptcy representation but do nothing to repair your credit? Are you ready to tidy up your debt mess with a thorough cleaning of your entire financial slate?

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Finding The Best Bankruptcy Lawyers in Minneapolis, MN

Posted by Kelsey Quarberg on July 11

Do your finances need a boost to get back into shape? Does your credit score need to be re-energized? Are you searching for the perfect Minneapolis Bankruptcy Lawyer to give you a complete financial makeover?

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Conquoring The Quest For The Best Bankruptcy Lawyer in Roseville, MN

Posted by Wesley Scott on July 10

Has your family outgrown your current house? Is your car in need of major repairs? Have you been turned down for a new home, car, or other financing because of your credit? If you’re in debt, you’re not alone: as of 2016, the United States had $764 billion in credit card debt, $8.63 trillion in mortgage debt, and $1.16 trillion in auto loan debt. These staggering numbers show that the average American is drowning in debt.

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Should I File Bankruptcy In MN?

Posted by Wesley Scott on July 7

If you’re asking yourself this question, you may feel like you’re literally drowning in debt. You struggle to keep your head above water, but in fact, you’re barely staying afloat. If you’re feeling this bogged down with stress over debt, it’s time to take action. Consider the many benefits of filing a Chapter 7 bankruptcy. Many people dread the very thought of filing for bankruptcy, when in fact it is a positive way out to get a fresh start. Do not feel like a failure; you’re doing the right thing.

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8 Pros and Cons of Bankruptcy

Posted by William Kain on July 6

If you are struggling with debts and dealing with creditor harassment, you are not alone. Many Americans are facing the same situation because they are unable to meet their financial obligations due to the loss of a job, a medical illness or the loss of a spouse. Whatever the reason, stress from unpaid bills is draining both emotionally and physically.

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