One of the biggest challenges of bankruptcy is that people need to file bankruptcy because they don’t have any money, but it COSTS MONEY to file bankruptcy. Bankruptcy makes people money because it stops debt payments and improves net worth, but it only does this when the case is actually filed, which costs money. What… Read more »
How Will Bankruptcy Affect My Credit Score?
Is bankruptcy the best choice for me? How will a bankruptcy affect my credit score? It’s a myth that filing for bankruptcy destroys your credit rating. To the contrary, filing for bankruptcy can put you on the path to a better credit score. How does filing for bankruptcy affect my credit score? At Walker & Walker,… Read more »
What Happens If Your Chapter 7 is Dismissed?
Bankruptcy Attorney Serving Twin Cities While it is not something that happens often, it is possible for your Chapter 7 bankruptcy case to be dismissed by the court. What a bankruptcy dismissal means is that you do not qualify for the bankruptcy process and thus the filing is dropped. While this sounds particularly scary, if… Read more »
Can I Sell My House During Chapter 13 Bankruptcy?
Going into Chapter 13 bankruptcy is not something one does casually. While it is less extreme than some forms of bankruptcy, often allowing you to keep your home and to work out affordable payments with your creditors so that you can pay back part of what you owe, it is still an involved process that… Read more »
Can I Quit My Job During Chapter 13 Bankruptcy?
Your job is an important source of income, whether you’re in the middle of trying to pay down debt or are trying to file for bankruptcy. Sometimes, however, your job causes more problems than it solves. Can you quit your job while filing for bankruptcy? If you’re struggling to understand your next move, it can… Read more »
Should I File for Bankruptcy in Retirement?
At any stage in life, filing for bankruptcy takes some consideration and thought. We understand that it’s rarely an easy decision. However, the single most common thing my clients say after filing is that they should have done it sooner! The concerns for someone in retirement are going to be very different than for someone… Read more »
What Steps Do I Need to Follow to File Bankruptcy?
The most common form of bankruptcy relief is Chapter 7. Most consumers who find they are facing overwhelming debt find this is the best option for their needs since it allows them to get a completely fresh start if they qualify. These are the steps you need to take to file a Chapter 7 bankruptcy. Step One:… Read more »
Can I Get a Job After Filing Chapter 7 Bankruptcy in Minnesota?
You’ve been struggling to pay your bills for a while now. You’ve heard that Chapter 7 bankruptcy can give you a fresh start. But, you’re worried about how bankruptcy will affect your future employment. Will anyone hire you if you have a bankruptcy on your record? Usually it is better to have a bankruptcy on… Read more »
How Does Child Support Work in Minnesota Bankruptcy Cases?
Filing for bankruptcy is an important step when your debt is out of control. It’s a big decision–and the biggest benefit is that it will wipe much of your debt away, making it easier for you to arrange your finances. When you file for bankruptcy, however, does it eliminate child support debt? How does it… Read more »
What is a Bankruptcy Estate?
The moment you file a bankruptcy, there are a bunch of things that happen. The biggest thing is the formation of a bankruptcy estate. Now you’ve probably heard estate used in phrases like ‘real estate,’ ‘family estate,’ or ‘estate planning.’ Specific to bankruptcy, your estate is everything you have at the exact moment you file. … Read more »
