If you’re not sure why Chapter 13 Bankruptcy could be the best option for you, then here’s what you need to know. 1. For those that don’t qualify for Chapter 7 bankruptcy If you don’t qualify for Chapter 7 Bankruptcy because you make too much money, then you will be able to file for Chapter… Read more »
What is the Chapter 13 Hardship Discharge?
For many people, their Chapter 13 Bankruptcy repayment plan is appropriate, affordable and manageable, and means that they are able to pay back their debts. However, for some people, it’s not, and they can’t pay back their debts, which is where the Chapter 13 Hardship Discharge comes in. Here’s what you need to know about… Read more »
What does a Bankruptcy Trustee do?
We talk a lot about the Trustee in a Chapter 7 Bankruptcy or Chapter 13 Bankruptcy case, but what does the Bankruptcy Trustee actually do? 1. Ensures co-operation The Bankruptcy Trustee manages the case, and so the Debtor needs to co-operate with the Trustee, to ensure that the case goes smoothly, and that there are… Read more »
What is the average American Household debt?
So what is the average American household debt? According to Nerdwallet, the average American household owes: $170,000 – mortgage $48,000 – student loans $27,000 – car loan $16,000 – credit card debt (Q4, 2015). Surprised? So were we. The average American household owes more than $250,000 Owing more than a quarter of a million dollars,… Read more »
5 Typical Bankruptcy Clients
We spend a lot of time talking to our clients to get to know them, and learn more about them, so that we can determine how best to help them. Having helped over 40,000 people become debt free in Minnesota, we’ve learnt that typical bankruptcy clients often have a sad story too. Whilst bankruptcy cases… Read more »
Alternatives to Chapter 7 Bankruptcy
You may know someone who has successfully discharged their debts, or have seen some compelling reasons to think about filing for bankruptcy. It might therefore seem strange for us to suggest alternatives to Chapter 7 Bankruptcy. If you’re suffering with financial worries, and are struggling to pay for your groceries as well as your bills,… Read more »
10 Debts not covered by Chapter 7 Bankruptcy
If you’re thinking about filing for Chapter 7 Bankruptcy, then you might think that all of your debts can be discharged. Whilst most of them can be included in your petition, there are some debts not covered by Chapter 7 Bankruptcy. Here are the 10 debts not covered by Chapter 7 Bankruptcy in Minnesota. 1…. Read more »
What is a motion for relief from the automatic stay?
WHAT IS A MOTION FOR RELIEF? A motion for relief is a creditor’s way to ask the court for permission to foreclose on a house or repossess a car. In most cases, only a mortgage lender or a car lender can bring a motion for relief. The court usually hears the motion approximately one month… Read more »
How does Minnesota compare to the highest and lowest per capita bankruptcy filings?
Following on from our 2015 Minnesota Bankruptcy Statistics article, we thought we’d compare Minnesota to the states with the lowest and highest number of per capita bankruptcy filings in 2015. How does Minnesota compare to the states with the highest and lowest number of bankruptcies filed in 2015? How does Minnesota compare to the state with… Read more »
How does Minnesota compare to the states with the highest and lowest number of bankruptcies filed in 2015?
Following on from our 2015 Minnesota Bankruptcy Statistics article, we thought we’d compare Minnesota to the states with the lowest and highest number of bankruptcies filed in 2015. How does Minnesota compare to the highest and lowest per capita bankruptcy filings? How does Minnesota compare to the state with the lowest ratio of Chapter 7 bankruptcies?… Read more »
