Bankruptcy Articles and Information
General Bankrputcy Information
- Who is filing for consumer Bankruptcy?
This is an article that talks a little bit about some of the groups of people who are filling for bankruptcy, like people who have lost their jobs, people who are facing home foreclosure and people with large amounts of medical bills.
- Filing Bankruptcy? Disclose everything, hide nothing
There are people who are temped to try to hide assets from the bankruptcy court. This is a terrible idea, and punishable by law. Do not risk losing your chance at a fresh financial start; the rules are easy to follow and there for good reason.
- Debt from the economic downturn and housing crisis
While this article was from a time when home foreclosures were much higher, it is just as true today that bankruptcy can not only stop a foreclosure proceeding, but also help you keep your house.
- Should I file Bankruptcy now or wait?
There are issues of timing that should be considered when deciding when to file bankruptcy. Especially for people who have recently lost their jobs, or are expecting a dramatic change in income.
- Should I use a Bankruptcy petition preparer?
There are small companies that claim to help people file bankruptcy or do credit repair. The fact is, a lot of the companies set unrealistic expectations and leave their clients in trouble.
- Dealing with Collection Agencies
Part of the protection that comes with filling for bankruptcy is that you will not have to get any more calls from collection agencies. We will help you get peace and quiet from ALL collection efforts, including letters, calls at work, calls at home and more. If they continue to call you after they have been notified that you are filling for bankruptcy, we can go after them.
Understanding what bankruptcy can do for you
- What Bankruptcy can and can't do
Understand what bankruptcy can do (help with medical bills, credit card bills, stop collection efforts) and what it can NOT do (discharge student loans, eliminate IRS debts, etc)
- Who Can file for Chapter 7 Bankruptcy?
Before you can file for Chapter 7 Bankruptcy, you need to meet certain criteria. Minnesota uses a means test of your household income to determine if you qualify. If you do not qualify for Chapter 7 because your income is too high, you can file for Chapter 13.
- What happens to your car in Chapter 7 Bankruptcy?
If you file Chapter 7, you are still able to keep your car in most cases. If you are behind on your car payments, this can get more complicated.
- Biblical connections to the Bankruptcy code
There are aspects of our bankruptcy laws that reflect some of the principles referred to in Biblical scripture. The concept of debt forgiveness has existed for a lot longer than the U.S. Bankruptcy Code.
Understanding Chapter 7 and Chapter 13
- A Chapter 7 Bankruptcy Overview
The first step to understanding what bankruptcy can do for you is learning about how Chapter 7 and Chapter 13 are different. Chapter 7 requires that you make under a certain amount, and discharges your debt. Chapter 13 is used if your income is over the limit for Chapter 7 and re-organizes your debts and can eliminate some interest and fees.
- A Chapter 13 Bankruptcy Overview
Understand Chapter 13 eligibility and how the repayment plan works. There are a lot of variables as to how much you have to pay back under a Chapter 13 plan, so don’t hesitate to take advantage of a free initial consultation.
- When is Chapter 7 better than Chapter 13?
- When is Chapter 13 better than Chapter 7?
Credit Counseling Website
To assist you in understanding some of the basics around credit, part of the bankruptcy process is to complete two (one pre-filing, one post-filing) short on-line counseling services. The link is here:
Ready to take the first step towards a financial fresh start?
Don't wait another day. We can help you get the peace of mind you deserve. You can meet with a lawyer in a free initial consultation in our Forest Lake office, or over the phone. Call (651) 464-8510 or click here to contact us via email.
Forest Lake, MN Office
1650 11th Avenue SW Suite 203
Forest Lake, MN 55025
Map & Directions
Phone: (651) 464-8510
Toll Free: : (888) 902-8529