People like to think that a credit report has a complete list of the debts that a person owes, but this isn’t true. I regularly pull credit reports when I meet with new clients so that I can find as many accounts as possible and do a thorough job. I go through the reports with… Read more »
Top 4 Mistakes People Make Before Bankruptcy
TOP 4 MISTAKES PEOPLE MAKE BEFORE BANKRUPTCY I have been practicing bankruptcy law in Minnesota for just under 10 years. At this point I have seen most mistakes that a person can make before filing. Most of them come because people think bankruptcy is more disruptive to their lives than it really is and… Read more »
Top 4 things People Don’t Expect When Filing Bankruptcy
Bankruptcy sometimes doesn’t work the way people think it will work. Here are the top 4 ways that it doesn’t work the way people expect it to work: BANKRUPTCY AUTOMATICALLY INCLUDES ALL CREDITORS. That’s right, it automatically includes every company or person to whom you owe money. You can’t keep one loan or credit card… Read more »
What Should be on My Credit Report After Bankruptcy?
Credit reports are supposed to show how much money a person owes on various debts and when or if the borrower is making payments on those debts. Because bankruptcy makes many types of debts go away completely and forbids collections, at least temporarily, on others, it can be like a tidal wave on the credit… Read more »
Walker & Walker agrees that Bankruptcy is a solution to the student loan crisis
The Minneapolis Star Tribune recently ran an opinion piece stating that bankruptcy is a natural solution to the student debt crisis. https://www.startribune.com/bankruptcy-is-the-solution-to-the-student-loan-crisis/573469491/ At Walker & Walker, we completely agree! and that isn’t just because we are bankruptcy lawyers. Bankruptcy has long been a special piece of the American Financial and Legal system that keeps borrowers… Read more »
Bankruptcy Works on Internet Loans
The American economy is always changing and there are always new loan companies and new ways to borrow money. Most people know that bankruptcy works on (discharges) credit card loans and medical bills, but you may be wondering if bankruptcy works on fintech loans or Internet loans. The short answer is that these loans get… Read more »
How Do I close a Business?
If a business isn’t making money and isn’t likely to start making money soon, then it often makes sense to close it. In modern America, there are many expensive costs to running a business, even one that isn’t making money, so it can make sense to close it quickly before the losses get larger. But… Read more »
I Owe Minnesota Unemployment Compensation For an Overpayment. Can Bankruptcy Help?
Sometimes an unemployment overpayment will go away in bankruptcy, but usually it survives. Whether it goes away or not depends on whether the overpayment . Chapter 13 Bankruptcy will also stop garnishment for unemployment for up to 5 even if the overpayment doesn’t get discharged in the bankruptcy. This is because bankruptcy gives you an… Read more »
Can I File Bankruptcy on a Bail Bond?
In Minnesota you can file bankruptcy on a bail bond. I have represented several people who have successfully filed on a bail bond, and it went away completely. WHAT IS A BAIL BOND, WHO OWES IT? A bail bond is kind of like a loan. If someone is charged with a crime and arrested,… Read more »
Minneapolis Landlords Are Now Forbidden to Screen Tenants By Credit Scores
Getting approved for renting apartments or other housing is a good reason to watch your credit score. Everyone knows that in the Twin Cities Metro, there is a housing shortage, so landlords have become more picky about which tenants they will work with. The Minneapolis City Council recently decided to change its laws on… Read more »