free 60-minute consultation. Call us today!
free 60-minute consultation. Call us today!
At Kain + Henehan, we help people in the Twin Cities break free from credit card debt. We’ve spent over 60 years combined guiding clients through debt settlement, bankruptcy, and creditor negotiations. We don’t judge your situation. We help you fix it.
We evaluate your situation and explain every option available under Minnesota law. Some clients settle their debts for less than they owe. Others file for bankruptcy to eliminate balances entirely. We walk you through the pros and cons of each approach so you can make an informed decision.
Credit card debt builds faster than most people realize. A medical emergency, job loss, or unexpected expense can push balances beyond what you can manage. High interest rates make it nearly impossible to pay down the principal, even when you make minimum payments every month.
Many Minnesotans carry thousands of dollars in credit card debt. The average American household owes over $8,000 on credit cards alone. When you add medical bills, personal loans, and other obligations, the total can feel crushing.
Debt settlement involves negotiating with credit card companies to reduce the total amount you owe. A lawyer contacts your creditors and proposes a lump sum payment that’s less than your full balance. If the creditor agrees, you pay the reduced amount and the remaining debt is forgiven.
Settlement works best when you have some money saved but can’t afford to pay the full balance. Creditors often accept settlement offers because they’d rather recover part of the debt than risk getting nothing if you file for bankruptcy.
Bill Kain and Margaret Henehan have over 60 years of combined bankruptcy experience and have helped hundreds of Minnesotans get back on their feet after getting weighed down by debt.
At Kain + Henehan, we love people. We never view your story as a source of shame or embarrassment. We truly care about our clients and want to help them live their best lives.
Bill and Margaret are respected among their peers and colleagues. Their positive relationships within the bankruptcy court system leads to positive outcomes for their clients.
A debt management plan consolidates your credit card payments into one monthly payment. A credit counseling agency works with your creditors to lower interest rates and waive fees. You make one payment to the agency, and they distribute the money to your creditors.
Debt management plans require consistent income and a commitment to stick with the plan for three to five years. They don’t reduce the principal you owe, but they can make payments more manageable and help you avoid bankruptcy.
Bankruptcy eliminates credit card debt entirely. It’s not a failure. It’s a legal tool designed to give people a fresh start when debt becomes unmanageable.
Chapter 7 bankruptcy wipes out most unsecured debts, including credit card balances, medical bills, and personal loans. If you qualify, you can discharge your debts within a few months. Most people who file Chapter 7 keep their home, car, and other essential property due to Minnesota’s bankruptcy exemptions.
Chapter 13 bankruptcy creates a repayment plan that lasts three to five years. You make monthly payments based on your income, and any remaining credit card debt is discharged at the end of the plan. Chapter 13 works well if you have steady income and want to keep all your property.
Chapter 13 bankruptcy requires proof that you have enough income to make monthly plan payments. We help you calculate your disposable income and determine whether a repayment plan is realistic.
Chapter 13 bankruptcy has debt limits for secured and unsecured debt. If your debts exceed these limits, Chapter 11 bankruptcy may be an option. Debt settlement works best for smaller balances that you can pay off with a lump sum.
The Fair Debt Collection Practices Act (FDCPA) limits what debt collectors can do. They cannot call before 8 a.m. or after 9 p.m., contact you at work if you’ve asked them to stop, or use abusive language. If a collector violates the FDCPA, you can sue for damages.
If a credit card company sues you, ignoring the lawsuit won’t make it go away. The creditor can win a default judgment and garnish your wages or freeze your bank account. We defend against collection lawsuits and help you respond to court filings.
Filing for bankruptcy stops lawsuits immediately. The automatic stay prevents creditors from continuing legal action while your case is pending.
Getting out of credit card debt starts with a consultation. We explain your options, answer your questions, and help you decide on the best path forward. We help you organize these documents and ensure everything is accurate before we move forward.
Can I eliminate credit card debt without filing bankruptcy?
Yes. Debt settlement and debt management plans can reduce or restructure credit card debt without bankruptcy. However, bankruptcy often provides faster and more complete relief.
Will I lose my house if I file bankruptcy?
Most people keep their homes in bankruptcy. Minnesota’s homestead exemption protects a certain amount of equity in your primary residence.
How long does bankruptcy stay on my credit report?
Chapter 7 bankruptcy stays on your credit report for ten years. Chapter 13 stays for seven years.
Can creditors still call me after I hire a lawyer?
Once you hire us, creditors must contact us instead of you. If they continue calling, they may be violating federal law.
Credit card debt doesn’t have to control your life. We’ve helped hundreds of Minnesotans eliminate debt and regain financial stability. Whether you need debt settlement, a payment plan, or bankruptcy protection, we’ll guide you through every step.
Contact Kain + Henehan by calling (612) 438-8006 or filling out the online form. We’ll review your situation, explain your options, and help you take the first step toward financial freedom.
Outstanding, absolutely outstanding. . . My only regret is that I did not pursue representation for my case sooner. I cannot speak highly enough of this firm and their services.
Outstanding, absolutely outstanding. . . My only regret is that I did not pursue representation for my case sooner. I cannot speak highly enough of this firm and their services.
Outstanding, absolutely outstanding. . . My only regret is that I did not pursue representation for my case sooner. I cannot speak highly enough of this firm and their services.