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.

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Am I Going To Lose My House? - Part 3

Posted by William Kain on October 25

Last week, I finished writing about the way that Minnesota state law treats home ownership in bankruptcy cases. If you recall, Minnesota is one of 15 states nation-wide that allow people who file bankruptcy to either use the property protections found in the Federal Bankruptcy Code or the property protections found in Minnesota Statutes to protect their interests in property - both real estate and personal property. In bankruptcy cases, when property is protected, the property is termed “exempt.” For many of my clients, the anxiety they feel regarding the decision of whether to file a bankruptcy case has to do with making sure that the property they own and want to retain is exempt.

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How Can I Keep My Family Out Of My Bankruptcy? – Part 2

Posted by William Kain on October 20

I’ve been writing about the interaction between a bankruptcy debtor and the debtor’s relatives for the past three weeks. During that time, I’ve looked at the complications that can arise from having relatives involved in a debtor’s financial affairs - and how almost every debtor who has been my client very much wants to keep family members from getting entangled in the debtor’s bankruptcy case.

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Am I Going To Lose My House? - Part 2

Posted by William Kain on October 16

Last week, I wrote about the issue of home protection in bankruptcy. And it’s a fairly complicated issue. But the bottom line is that if you are a homeowner that lives in Minnesota, and you need to file a bankruptcy case to resolve your financial issues, the equity in your home is almost certain to be exempt - that is, your home can’t be taken from you by a bankruptcy trustee if you want to protect it.

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Bankruptcy: Am I Going To Lose My House?

Posted by William Kain on October 3

Financial problems make people anxious. And when clients come to visit with me about their finances, it is normal that they are anxious and stressed about their money situation. The anxiety comes, in large part, from the feeling that there’s not enough money to pay the bills - and the consequences that go along with that. The anxiety can be intense in these situations: worries about whether a person can be jailed if there is a civil judgment taken for an unpaid debt is common (no, the person is not going to jail). If a person files a bankruptcy case, who will know about it (creditors certainly will, but friends and neighbors almost always don’t).

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How To Know If You Qualify For Chapter 7 or 13 Bankruptcy

Posted by Wesley Scott on February 22

At Kain & Scott, we get this question a lot. Do I qualify for Chapter 7 or 13 bankruptcy? Financial problems come in different sizes and varieties. Generally speaking if you are looking at a bankruptcy website, then bankruptcy is something you should consider. Why do I say this? Because you are obviously struggling with some debt or you would not be searching for solutions right?

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4 Advantages of Filing Bankruptcy vs Debt Consolidation

Posted by Wesley Scott on December 17

I have high anxiety. I get the anxiety and courage it takes to even think or say the word bankruptcy. While it is easier for me to think or say that word, one, I do bankruptcy work for a living and two, I am not now facing a bankruptcy. I respect those two very important distinctions between us. Many Minnesotans facing overwhelming debt are on the fence about whether they should think about bankruptcy as an option. Often times, some sort of debt consolidation wins out instead so we can say we are avoiding bankruptcy. While that is true, in the short term, long term many of those people end up filing bankruptcy anyway. Here are some of the factors we think you should consider before going down an alternative path instead of choosing bankruptcy first. 

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The Truth About Filing Bankruptcy in Minnesota

Posted by Erick Bohm on November 14

Whether you file for Chapter 7 or Chapter 13 Bankruptcy in Minnesota, there are options for making sure you can keep your house.  One of the common misconceptions about bankruptcy is the one about losing your home.  Whether you have no equity, or some equity in your house, the Federal Bankruptcy Code and Minnesota bankruptcy statutes have provisions that allow you to protect your house.  The most important part is, keep making your mortgage payments.  However, if you’ve fallen behind, don’t worry.  We also have options for making up missed payments. 

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A Starter's Guide To Filing Bankruptcy In Minnesota

Posted by Wesley Scott on September 16

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. 

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Top 3 Reasons To File Chapter 7 Bankruptcy In Minneapolis

Posted by Wesley Scott on September 13

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.

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Help For Small Business In Financial Trouble

Posted by William Kain on August 4

One of the most rewarding experiences an individual can have is to start and grow his own business. Our economy depends on people deciding to become entrepreneurs. And people with a plan, good financing, attention to detail and a strong work ethic can position themselves to do well financially. But any successful entrepreneur will tell you besides all these attributes, the successful business owner needs a big helping of good luck. Good fortune does not visit every small business. And no matter how diligently a business owner follows processes designed to successfully start and grow a business, bad luck might dash all of the hopes and dreams the business owner had when she set out to start the business.

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Should You File Bankruptcy After A Minnesota Auto Accident?

Posted by Wesley Scott on May 9

If you were recently involved in a car, truck, or motorcycle accident, you might be wondering whether you should file bankruptcy.  That is a complicated question that involves the intersection between two legal practice areas -- auto accident law, and bankruptcy law.  The answer depends on a number of factors.

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What Really Happens When You File Bankruptcy?

Posted by Wesley Scott on March 15

So you decided to file bankruptcy, and get your life back. You have resolved yourself to the fact that of all the options available to you, filing for bankruptcy, getting a fresh start, makes the most sense. I am really proud of you and honor your courage and anxiety! There is a lot of fear about filing bankruptcy. You wonder what people will think of you, what will they ask you and if you have to go to court?

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