One of the questions we are often asked is “What are the differences between tax returns and tax refunds?” So, if you’re thinking of filing Chapter 7 Bankruptcy or Chapter 13 Bankruptcy in Minnesota, we thought we’d explain. Here’s what you need to know about the differences between tax returns and tax refunds. Tax returns… Read more »
What Happens in Minnesota if I Inherit Something After Filing Bankruptcy?
What Happens in Minnesota if I Inherit Something After Filing Bankruptcy? It’s a fair question. No one plans when they will receive an inheritance, or when they will need to file for bankruptcy. This makes the possibility that you may inherit from an estate after filing bankruptcy a very real one. However: What happens to… Read more »
Andrew Walker Wins a Court Victory Allowing Minnesota Homeowners To Keep the Money From Selling Their Homesteads
Bankruptcy Attorney Andrew Walker won a court victory in July, 2018 with the In Re Thomas, 17-43661 MER case, regarding the “Snapshot Rule”. This case, decided by the Bankruptcy Court for the District of Minnesota formally adopted the “Snapshot Rule” for how the proceeds from selling a house are treated in a Chapter 7 Bankruptcy… Read more »
Why Homeowners With Bad Debt Should Use Bankruptcy to Avoid Home Equity Loans
Minnesota homeowners with bad debt should use bankruptcy to avoid home equity loans. As Minnesota bankruptcy attorneys, we’re bound to say that though, aren’t we? But here’s why. MINNESOTA LAWS ARE VERY FAVORABLE TO HOMEOWNERS In Minnesota, it is almost impossible for a debt that isn’t a mortgage to take your home. The Minnesota Homestead… Read more »
Minnesota Changes Bankruptcy Laws to Protect Health Savings Accounts (HSAs)
The Minnesota legislature recently passed a law to make the first $25,000 that a person has in a Health Savings Account or HSA exempt from bankruptcy and exempt from judgment creditors or debt collectors who are trying to collect. This bill is called HF 2391 and was introduced by Senator Roger Chamberlain of District 38 to… Read more »
New Year, New You?
Now you’ve recovered form the festive period, then perhaps you’ve already decided what you’re going to focus on this year, and have decided what New Year, New You means for you this year. What are your goals? Maybe New Year, New You means that you’re going to: Get your finances in order, or see how… Read more »
Toys R Us Files Chapter 11 Bankruptcy
Following on from the news that Toys R Us filed Chapter 11 Bankruptcy in September, we thought we’d explain more about why a company would file for Chapter 11 Bankruptcy, and how it compares a person filing for Chapter 7 Bankruptcy or Chapter 13 Bankruptcy. Business bankruptcies and personal bankruptcies have two basic similarities: 1. … Read more »
Your rights as a Minnesotan in the Equifax data breach
WHAT HAPPENED? You have probably heard that Equifax, one of the 3 big nationwide credit reporting companies, recently had a huge data breach. Some 143 million Americans have had their information compromised. Considering that there were 323.1 million Americans in 2016, and that lots of Americans, like children, don’t have credit reports, this is probably… Read more »
Reducing the cost of what you don’t use Money Saving Tips
We talked previously about reducing the cost of what you use. What about reducing the cost of what you don’t use? 91. TV How much do you spend on your TV each month? How much TV do you really watch (not Netflix, Amazon Prime or other streaming services)? Could your TV bill be cheaper? Do you… Read more »
Mortgage company changes mind over unjustified attorney’s fees
We recently filed a Chapter 7 Bankruptcy for someone who continued to pay their mortgage throughout the 3 months of their Chapter 7. We knew that the mortgage company was in no danger of taking a loss, as all payments were current, and the mortgage company did not have to do any extra work because… Read more »
