If you are thinking about filing for bankruptcy you should consider some basic tax advice. The best way to plan your taxes and bankruptcy is to make sure your limit the tax refunds you get. The reason for this is you do not want to...
According to the American Bankruptcy Institute http://news.abi.org/press-releases/february-bankruptcy-filings-decrease-21-percent-from-previous-year-commercial-filings, bankruptcy filings have dropped 21% nationwide in February 2013. The article said that February filings were up 5% from January 2013. This seems to reflect what I am seeing in banks that have cut credit limits and increased...
Each day in Minnesota thousands upon thousands of phone calls and letters go out from collection firms. Each day these same debt collectors violate various provisions of the Fair Debt Collection Practices Act (FDCPA). In most cases the collectors who do the violation do not...
If you are thinking about consolidating your debt using a debt consolidation company you may want to reconsider. Debt settlement is not effective for the majority of consumers using this service and it generally puts clients further in the hole. The reason people use these...
The Minnesota Bankruptcy Court should approve a new local rule for lien stripping of 2nd mortgages in chapter 13 bankruptcy. The new rule is complex and will make the lien stripping process more costly and cumbersome for debtors and their attorney. The new rule essentially makes...
By filing chapter 7 or chapter 13 bankruptcy you can obtain immediate relief from your creditors. Creditors are prohibited from collecting or harassing a debtor after the filing of a bankruptcy pursuant to 11 U.S.C. Section 362 of the bankruptcy code. During my practice in...
One of the most common questions that gets asked by potential clients is how will bankruptcy effect my credit. The most common answer is that it cannot hurt their credit any further, in most cases the damage to credit has already happened. Most clients I...
The number of bankruptcy case filings dropped around 12% in Minnesota for 2012. This could reflect an improving economy or may just be a temporary drop and the numbers could increase in 2013....
The prevalence of leases continues to grow. Many individuals want to drive a newer car but could not otherwise afford the car outright. Many businesses want commercial space but cannot afford the cost of purchasing a commercial building and its upkeep. Most leases go off...
If you own a small business in Minnesota you may need help with resolving debt to some of your vendors. The other thing you may need is to look at your own bill collection process to make sure your clients are paying you. In some...