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Minnesota Bankruptcy Costs and How to Pay for it

You have been thinking about Bankruptcy.  You are a ball of stress, you can’t sleep at night.  You can’t pay your bills and you feel like you can’t afford a Minneapolis Bankruptcy Lawyer. Here’s what bankruptcy costs — and how to pay for it. How much does it cost to file for bankruptcy? You’ll face… Read more »

Hire a Minneapolis Bankruptcy Attorney

Do you know the meaning of the term “dischargeable debt”? If you’re attempting to file a Chapter 7 bankruptcy on your own, you had better look it up. You’ll also want to find out which debts currently count as dischargeable and whether or not you can list them in a Chapter 7 filing. While you’re… Read more »

Reinstate Your Suspended Driver’s License

Suspended Driver’s License Bankruptcy gives you immediate and long-term relief from your debts. But it can do other very important things you may not know about. Today we get into how bankruptcy can reinstate a suspended driver’s license. Reasons for Driver’s License Suspension Whether your filing of a bankruptcy case can reinstate your suspended driver’s… Read more »

Minneapolis Bankruptcy Lawyer Can Help

Whether you file Chapter 7 or Chapter 13, an automatic stay under Section 362 of the Bankruptcy Code takes effect immediately upon filing in most cases, and generally lasts as long as the bankruptcy case is pending. The stay offers immediate relief to distressed debtors. If these debtors successfully complete a Chapter 13 bankruptcy as… Read more »

Do All Credit Cards Get Closed When Filing Bankruptcy?

All credit cards that have a balance get listed in the bankruptcy.  It is up to the individual lenders as to when they close (or if they close).  They may ask you to reaffirm the debt in order to keep a card open. This is not advisable.  Reaffirming the debt means you will be liable… Read more »

Can You Discharge Taxes in Bankruptcy?

Many Bankruptcy clients struggle with tax debt.  Here are some things to think about: 1. Get your tax transcripts. To diagnose and fix your tax problems, you’ll need to get account transcripts from the IRS for each year you owe a balance. These documents are a history of when your tax was due, when the return… Read more »

Health Savings Account Exemption

Governor Dayton just signed into law HF 2391 which provides an exemption for Health Savings Account. In bankruptcy, debtors can choose whether to protect their assets under state law or federal law. Federal law permits a miscellaneous exemption of up to $13,000, which usually covers most HSA’s. Sometimes debtors need to use state exemptions (usually… Read more »

3 Simple Money Tips for Avoiding Bankruptcy

If you’re in a tough financial situation, you need to do whatever it takes to get out of it. Bankruptcy is a last resort, and in some situations, it is the best option, but it will ruin your credit score and lead to many financial issues in the future. Use these tips to avoid bankruptcy. Decrease… Read more »

New Bankruptcy “Means Test” Income Figures Effective May 1, 2018

The U.S. Trustee’s Office has announced new median income figures to go into effect on May 1, 2018. These income figures will become part of the bankruptcy means test for chapter 7. The new figures for Minnesota are: $54,613 for a one person household $74,283 for a two person household $87,811 for a three person… Read more »

Who Can Have Your Wages Garnished in Minnesota?

Owing debt may not be fun, but it’s something that happens to almost everyone. From student loans to medical emergencies, it’s all too easy for a single setback or a bad year to turn into a big pile of debt. The vast majority of people in debt today have every intention of paying the sum,… Read more »