Do you feel like you are buried in debt with no foreseeable way to get out from under it? Would you like to STOP harassing creditor calls, wage garnishments, pending foreclosure, and losing the assets you have worked hard to acquire? If the answer to these questions is, “Yes!” filing for Chapter 7 bankruptcy could… Read more »
Does Filing Bankruptcy Affect a Cosigner’s Credit?
The short answer is no. Filing bankruptcy DOES NOT affect a cosigner’s credit. A bankruptcy only goes onto the credit report of the person who filed the bankruptcy. The tradeline for the cosigner, sometimes called a codebtor, will also not say bankruptcy. If the payments on the loan stop, however, then the nonpayment of the… Read more »
Gurstel Law Firm Is Suing Me, What Can I Do?
Gurstel Law Firm is a Debt Collections Law firm located in Golden Valley, MN. They often sue Minnesotans for unpaid debts from things like credit cards or medical bills. A lawsuit in Minnesota starts with a Summons and Complaint. This is a legal document that is supposed to be served (handed to) the Defendant or… Read more »
Can I Be Sued While Working With A Debt Settlement Agency?
The short answer is YES, you can be sued even if you have a debt settlement or debt consolidation agency working for you. In Minnesota, debt settlement or debt consolidation agencies are not usually lawyers. They promise to fix debt problems, but they often can’t do it quickly enough to stop a lawsuit against you. … Read more »
I Have A House in Minnesota, How Can I Be Sure It’s Protected In Bankruptcy?
Minnesota Law Protects Homes From Most Debts Minnesota began as a frontier state and has a long tradition of protecting the property of Minnesotans from Debt Collections. The Minnesota Constitution says: Sec. 12. property exemption. No person shall be imprisoned for debt in this state, but this shall not prevent the legislature from providing for… Read more »
New York Bankruptcy Court Allows Discharge of Some Private Student Loans
Is the trend changing for whether student loans can be discharged in bankruptcy? One court in New York is willing to go against the grain and rule for the student loan borrower. This court found that the borrower’s specific type of loan did not count as a student loan. Read the opinion here. There are… Read more »
Bankruptcy Works On Cell Phone Debt in Minnesota
ARE DEBTS FOR CELL PHONES DISCHARGEABLE IN BANKRUPTCY? When going over credit reports of Minnesotans looking for debt relief, I almost always find an entry for Sprint, or Verizon, or T-Mobile, or other cell phone companies. Just like credit cards and medical bills, debts to cell phone companies in Minnesota are completely discharged in bankruptcy…. 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 »
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 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 »
