THE VAST MAJORITY OF BANKRUPTCIES DO NOT GO IN THE STAR TRIBUNE People often ask me if their bankruptcy filings will go in the newspaper in Minnesota. The short answer is that the Star Tribune only publishes business bankruptcies. Right now, about 40-60 people per day file bankruptcy, so it would take lots of space… Read more »
!Garnishments are Back!
Earlier this week, the governor’s orders preventing wage garnishments and bank levies started to expire. There are still some limitations in place, but as far as creditors are concerned, they can start taking your money NOW! Garnishments are awful. No one wants to wake up one day to find their bank accounts empty or be… Read more »
Top 4 Ways to Build Credit After Bankruptcy
Most of our clients see a 720 credit score only 2 years after bankruptcy. Just follow these any combination of these 4 easy steps to improve your credit score after bankruptcy. Bankruptcy is a legal process that makes debt go away, and credit score measures how regular payments towards debts have been. Often, in the… Read more »
John Oliver Tonight Did An Episode On Bankruptcy – It’s All True
Here is a link to the episode on youtube. https://www.youtube.com/watch?v=GzFG0Cdh8D8 The realities of filing bankruptcy are rarely mentioned on regular media, but on 4/18/2021 John Oliver Tonight did an episode about it. Walker & Walker agrees with most of his points! The credit counseling course and financial management course are unnecessary and stigmatizing. People file… Read more »
$1400 Stimulus Is Protected In Bankruptcy, But Only If you File
THE $1400 STIMULUS CHECKS ARE PROTECTED IN BANKRUPTCY $1400 stimulus check are starting to arrive in peoples’ bank accounts, but is it protected in Bankruptcy? YES, The March 2021 checks are protected in bankruptcy. There is a special piece of the law that gave the $600 checks to everyone that also protects the $1400. This… Read more »
ARE THERE ANY DEBTS THAT DON’T GET LISTED ON CREDIT REPORTS IN MINNESOTA?
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 »
