If you’re reading this blog, it’s likely you were kind enough to co-sign on a debt with someone, but that certain someone fell behind on payments. Since they fell behind on their payments, it’s likely the creditor is trying to collect the debt from you. If you’re experiencing this, don’t worry. We can certainly help you.

In my last two blogs, I looked at debts that aren’t discharged in a bankruptcy case. Two weeks ago I looked at debts that are never discharged - student loans, most income tax debt, obligations to pay child support or spousal maintenance, to name a few. These debts are presumed to be non-dischargeable in a bankruptcy case. That means that the creditor does not have to bring an action in bankruptcy court to determine that these kinds of debts are not subject to a bankruptcy debtor’s general discharge; if there is going to be a judicial determination of dischargeability, the bankruptcy debtor has to bring the action to determine whether the debt can be discharged in the bankruptcy case, and the presumption is that the debt is not subject to discharge.

Last week, I wrote about 8 debts that a bankruptcy debtor may have that are not discharged, even if the bankruptcy client receives a “general” discharge. The kind of debts I wrote about - child support, most taxes, student loans, to name a few - are debts that are never discharged in a bankruptcy case.

People who file a bankruptcy with the types of debts that are never discharged must bring a lawsuit against the creditor in bankruptcy court if they feel, for some reason, that the debt in question should be discharged, despite its characterization. It’s up to the debtor to do this; if the debtor does nothing to contest the non-dischargeability of the debt, the bankruptcy debtor remains liable for the debt after discharge.

So, you are a Minnesota lawyer with a clientele from all walks of life. How many times have you heard a client say they have overwhelming debt? The answer is probably a lot right? And how many times has the suggestion to solve the problem been maybe you should consider debt consolidation? The answer agin is probably a lot right?

Wouldn’t it be nice to get rid of all your credit card debt and start fresh again? Could you imagine the peace of mind you would have knowing that you could wipe your credit cards clean and not have to worry about paying them back? If you’re like most Minnesotans it’s pretty easy to rack up large amounts of debt on your credit cards quickly especially if something unexpected happens. Let’s face it, you never know if something unexpected is going to happen that might cost you several hundreds or even thousands of dollars. Let’s say your vehicle breaks down, you get sick or are injured in an accident, your business becomes unprofitable or you maybe you get laid off from work. The bottom line is that these types of things can happen to anyone and they happen all the time.

If your overwhelmed by debt, sick of creditors calling you and struggling to make your payments don't worry, you’re not alone. Millions of MN residents are struggling with debt and truthfully finding someone these days that is not is like finding a needle in a haystack – virtually impossible. 1 in 3 people carry credit card debt month to month and hundreds of thousands have debt in collections. Most of the time at no fault of their own. Wouldn’t it be nice just to eliminate it all? Could you imagine how much less stress you would have? Just imagine how well you could sleep at night! The good thing is that’s a possibility. When it comes to resolving overwhelming debt you have 4 options.

The new year is a time for new beginnings, and if you haven’t already done so, it is time to make your New Year's resolutions for 2016. If you are living with overwhelming debt, this year’s resolution should be easy to determine – take control of your finances and improve your financial well-being in 2016. To make your New Year’s resolution easier to attain, we’ve compiled a list of several tools you can use to reach your goal.

Are you struggling to pay your debts each month? Do you feel hopeless when you think about your financial situation? Do you wish there was someone who could help you with debt management in Eagan, MN?  If so, you are not alone.  Many people are facing the same debt management problems that you are facing. They do not have the money each month to pay their living expenses, bills, and debts.  The stress and anxiety from dealing with their financial problems leaves them feeling hopeless and defeated.

We often have clients come into our office and ask, "Why do I need to include all of my debts in my bankruptcy?" Some people want to pay back some of their creditors while others want to avoid certain creditors from knowing about the bankruptcy. For example, a client comes into the office for a bankruptcy consultation. When we discuss the types of debts she owns, she tells us that she does not want to include all of her debts in the bankruptcy case because she owes her parents money and she must pay that money back.  She also does not want her parents to know that she is filing bankruptcy. 

Getting out of debt is a great feeling. Many of us want to get out of debt but we do not know exactly where to begin. Having a plan to get out of debt is the first step. When you have a plan and specific goals, it helps you  focus on the steps that you must take to achieve your financial goals. Below are several ways you can improve your financial well-being by taking control of your finances to get out of debt.

In today’s world, it is oftentimes necessary to take out some form of credit to pay for necessary items such as schooling, vehicles, a home, and emergency needs such as new tires for your car. In times of need, this available credit can be very beneficial. However, when you look at credit from the other side, this credit is now a debt you owe to a creditor. Owing debt is in no way a negative thing; in fact, most everyone you know probably owes some form of debt. If you find yourself in over your head with the debt you owe, a bankruptcy may be the relief you need.

When you file a bankruptcy, the end goal is to receive a bankruptcy discharge (a.k.a. freedom from your debts). The bankruptcy discharge releases you from the legal liability to repay all debts that are discharged through your bankruptcy case. Post-bankruptcy-discharge your creditors are prohibited from attempting to collect discharged debts, including but not limited to contacting you to request payment of a discharged debt, filing or continuing a lawsuit or turning the debt over to a debt collector for collection.

Getting out of debt is a top priority for many Americans today. Debt is a huge problem in our country and is causing many people to struggle financially. Debtors depend on a number of different solutions to help them get out of debt; some rely on the bankruptcy court while others are able to make changes to their budgets, get second jobs or refinance their debts.

When you are struggling to pay bills and to make ends meet, it may feel like you are alone. However, consumer debt statistics prove that you are not alone. Individuals throughout the United States continue to struggle to pay their bills each month. As unemployment continues to be a problem and individuals suffer without adequate health insurance, consumers are forced to take on more debt in order to pay for basic necessities such as food, shelter and clothing.