The coronavirus is resulting in serious financial consequences for some Minnesotans. Many non-essential workers have been laid off or are now working reduced hours. Schools are closed, leaving parents scrambling for childcare. Bills are piling up while people wait for their unemployment benefits and stimulus checks. It is a stressful time for many people. We… Read more »
Bankruptcies Expected To Rise Due To Coronavirus Fears
Bankruptcy Filings To Increase During COVID-19 Pandemic Unfortunately for the world of business and homeownership, bankruptcies are not expected to decline during this tumultuous time. In fact, it looks as though they’re going to continue rising and remain consistently high for the rest of the foreseeable future. Does this indicate a full-on crisis in the credit market?… Read more »
Chapter 7 Bankruptcy, Minnesota’s Xcel Energy and Keeping Utilities On
Many of our Minnesota clients are worried about more than just credit card debt-they also fear having their utilities shut off, especially during the world we live in these days with coronavirus. What happens when you have used up all of your available resources, yet still owe a sizeable amount to Xcel Energy? Can filing for Chapter… Read more »
Residency Requirements for Filing Bankruptcy in Minnesota
There’s good news for relatively new Minnesota residents who are struggling to pay their debts. It’s not difficult to meet the residency requirements for filing bankruptcy in Minnesota. Residents who have lived in Minnesota for as little as 91 days are eligible to file. As long as you’re a state resident, you don’t have to… Read more »
A Proposal for Fixing Our Bankruptcy System So People Have a Second Chance
In 2005, a law was passed that drastically reduced the ability of citizens to form fair repayment plans and discharge debt. Our bankruptcy system must be fixed to give responsible citizens a second chance. One leader we’ve heard a lot about lately, cares deeply about this issue. Senator Elizabeth Warren’s Story Researching to Discover the Reasons… Read more »
What is the Downside of Filing for Bankruptcy?
Most people overestimate the harm from filing bankruptcy and underestimate the good that comes of filing it. This website and lots of others have long lists of the benefits of filing, but what about the bad things that can happen? That being said, bankruptcy isn’t always the answer. There are some disadvantages that you need… Read more »
Why People File Bankruptcy In Minnesota?
For everyone, bankruptcy isn’t part of “the plan” they had for their life. However, even if no one plans for it, bankruptcy is an option for when things just get out of control. Why do people file for bankruptcy in Minnesota? Sometimes it is because they were bad with their money, but mostly it is… Read more »
Minnesota Chapter 7 Bankruptcy: What It Is, and How It Works
Need a Bankruptcy Attorney in the Twin Cities? Call Us Today! Bankruptcy is a helpful and generous provision for citizens that have fallen on hard financial times. It provides a legal framework that protects debtors from ruthless creditors, while also reducing creditor losses from sunk costs. In Minnesota, Chapter 7 bankruptcy is the most common… Read more »
Will Chapter 7 Eliminate My Tax Debts?
Contact Us Today For A Free Case Evaluation Chapter 7 is often referred to as “straight bankruptcy.” This gives the impression that all of your debts will be eliminated. You’ll walk away with a clean slate. Depending on the types of debts you have, this may or may not be the case. In Chapter 7 bankruptcy,… Read more »
What If I Have No Assets for Chapter 7?
Considering Bankruptcy? Contact our Minneapolis Bankruptcy Lawyers First! When you file bankruptcy, you are filing because you are left with very few other options. Your finances are out of control and bankruptcy acts as a sort of reset button. You aren’t filing for bankruptcy because you are flush with cash, and sometimes, you may not… Read more »
