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Student Loans and Bankruptcy: How do I know if I’ll qualify?

Student loans are a large burden that many young Americans take on just out of high school. They do not always realize the magnitude of this debt or how many years it will take to pay it off until they find themselves in financial hardship following graduation. If you feel that your student loans are… Read more »

Reasons To Consult A Minnesota Bankruptcy Lawyer

Bankruptcies are most often the result of unexpected and catastrophic expenses, such as medical bills or a sudden job loss. As such, a bankruptcy isn’t usually something that is planned out well in advance. People who find themselves in need of the financial relief that bankruptcy provides are under a tight time limit, have no… Read more »

Strategic Default: An Option For Those Facing Home Foreclosure

“Strategic default”. Sounds fancy, like some sort of accounting trick used by the rich and famous. In reality, a strategic default may be a viable solution to your current financial woes rather than pursuing foreclosure defense, loan modification or other potential options. Your answers to the following questions will go a long way toward determining… Read more »

Bankruptcy Exemptions: What You Can Keep

Bankruptcy is a stressful process. One of the biggest questions people ask when contemplating filing is, “What do I get to keep if I file bankruptcy?” Many items and financial sources are exempt from bankruptcy which gives potential filers some peace of mind during a difficult time. Homestead Minnesota’s homestead exemption protects home and land… Read more »

Chapter 13 Bankruptcy 341 Meeting: An Overview

A Chapter 13 bankruptcy 341 meeting is a meeting of creditors during a Chapter 13 bankruptcy. This hearing enables the trustee and creditors to ask the filer about his/her ability to adhere to the proposed payment plan and about assets and other financial issues. Prior to the actual 341 meeting, the appointed trustee will review all filed… Read more »

Does A Corporation Or LLC Protect Me From Creditors?

If you own a business, it’s nearly always best to incorporate or form a LLC. This gives you the ability to separate your personal finances from your business, protecting you from ruin if your business encounters some sort of catastrophic debt. It’s important to understand the rules and limitations of these arrangements, however, as they… Read more »

Determining Eligibility with the Chapter 7 Bankruptcy Means Test

In order to determine if an individual is eligible, the Chapter 7 bankruptcy means test ensures that the filer’s income is low enough to qualify for this type of bankruptcy and to prevent those with higher incomes from taking advantage of the bankruptcy process. Some people erroneously believe that they have to be completely broke in… Read more »

Does Filing For Minnesota Bankruptcy Fix Identity Theft?

If you are the victim of identity theft, you know the frustration that comes with cleaning up the mess. Perhaps well-meaning friends and family advise you to just file bankruptcy and be “done with it.” But, is this really the answer? Bankruptcy is a tool intended to help good people who have bad things happen… Read more »