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Category Archives: Bankruptcy Law
Credit scores and bankruptcy
When someone schedules an initial consultation with me to discuss their debts and what options they have to resolve their debts, their credit score is often on their mind. People want to know how filing bankruptcy will impact their credit … Continue reading
Posted in Bankruptcy Law
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How can I afford to hire a bankruptcy attorney?
It’s pretty common for bankruptcy attorneys to hear the following from our potential clients: I need to file bankruptcy. I can’t afford to pay my creditors. How can I afford to pay for a bankruptcy attorney? Everyone’s situation is different, … Continue reading
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Filing bankruptcy while unemployed
Like anything in life, you have to take the bad with the good. Sometimes, though, there is also some good that you can take with the bad. I have yet to meet someone who is ecstatic about being involuntarily unemployed. … Continue reading
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Tax consequences of foreclosure in Minnesota
When someone meets with me because their home may end up being foreclosed on, one of the things that I tell them is that they should meet with an accountant – a good one – sooner than later. Last year, … Continue reading
Posted in Bankruptcy Law, Housing Law
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My cliché “New Year, Fresh Start” post
It’s December, and that means family gatherings, kids being on break from school, painful commuting traffic due to snow (like today!), and… lots of Facebook posts, blog posts, and inspirational quotes about making resolutions for the upcoming new year. Although … Continue reading
Posted in Bankruptcy Law, Family Law
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How to resolve joint debts and protect yourself in a divorce
In my previous post, I discussed the unfortunate fact that your divorce decree will not change your contract with your creditors. In other words, if you and your ex-spouse were both jointly liable on a Visa credit card, the divorce … Continue reading
Posted in Bankruptcy Law, Family Law
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What happens to joint debts in a divorce?
I recently attended a CLE (also known as “lawyer school”) called Mortgage and Divorce for Family Law Attorneys. David Jamison, from Wintrust Mortgage, was the presenter. One of the topics that was discussed was a topic that comes up often with … Continue reading
Posted in Bankruptcy Law, Family Law
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Parents and their children’s student loans
This article in the New York Times, in my opinion, makes a good case for why student loans should be more easily dischargeable in bankruptcy (since the discharge of student loans in bankruptcy is practically impossible – that is my … Continue reading
Posted in Bankruptcy Law
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Updated means test numbers – effective November 1, 2012
The new means test numbers went into effect on November 1, 2012. Here is a link to the updated median incomes for the means test: http://www.justice.gov/ust/eo/bapcpa/20121101/bci_data/median_income_table.htm There was a slight decrease in the median income for household sizes of 1 … Continue reading
Updated means test numbers – effective May 1, 2012
The news means test numbers went into effect on May 1, 2012. The median incomes for Minnesota increased; this means that it may now be easier for some people to qualify for Chapter 7 bankruptcy than it previously had been. … Continue reading
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