How Can I Prevent Foreclosure?
Homeownership is often a landmark for a family or individual that they are doing well. Buying your first home or purchasing a larger home for a growing family is a point of pride and accomplishment. If you are behind on your mortgage payments, it doesn’t necessarily mean that you’re destined to lose your home. One […]
Has the Pandemic Affected Personal Bankruptcy?
Personal Bankruptcy Filings in the United States The COVID-19 pandemic undoubtedly had an impact on the personal finances of millions of people. Forced shutdowns within cities and towns of assorted businesses combined with the critical impact on certain industries such as hospitality and travel have had an effect. Economists will be discussing the pandemic’s effect […]
Bankruptcy Isn’t All Bad
Having financial problems can be a challenging experience. Filing for bankruptcy for those who qualify, can be a beneficial way to get a fresh financial start. People who file for bankruptcy often do so because of an unexpected financial emergency. They might be facing an illness, an unexpected increase in expenses, or a sudden decrease […]
Minnesota Bankruptcy and You
Bankruptcy can unfortunately conjure up some out dated ideas. But in fact for some clients, it may actually be the best option. Bankruptcy can have a profound yet ultimately positive effect on your life. Once you file, you’ll have a fresh start. Here’s some things you need to know about bankruptcy in the state of […]
I Owe My Dad! Can I Not List Him as a Creditor?
If you file for bankruptcy protection, you need to list all creditors and the amounts owed to each. However, there are some people that you might owe money to that you don’t want to know that you’re filing bankruptcy, such as family members and friends. Unfortunately, you are legally required to disclose all creditors in your […]
Under Chapter 7, Do I Keep My Tax Refund?
The short answer is – with proper legal planning and timing, you will likely be able to keep all or most of your tax refund check even when you file for Chapter 7 bankruptcy. But, with bad planning and poor timing, the bankruptcy trustee may use the entire amount to pay off creditors. Timing is crucial, […]
Pandemic’s Effect on Foreclosures in the US
The first case of COVID-19 hit the US in February of 2020, and since then, our lives have never been the same. The entire country seemed to grind to a halt as businesses closed, people were told to stay home, schools closed, masks were everywhere, and the pandemic news seemed to change daily. As the pandemic […]
What Happens to My Tax Refund under Chapter 13?
When people are behind on their mortgage payments and fear losing their house, they often turn to federal bankruptcy laws to stop the foreclosure and get protection. Federal bankruptcy laws offer two different bankruptcy types to individuals, Chapter 7 and Chapter 13. In Chapter 7, the bankruptcy trustee sells the debtor’s non-exempt assets, pays the […]
Medical Debt is Major Cause for Bankruptcy
Medical debt is the leading cause of bankruptcy and the number one reason people are placed into collections. Even with health insurance, medical bills can pile up and cause an undue burden on your financial situation. With the help of Kain + Henehan, a bankruptcy firm in Minnesota, you can get back on track and […]
Will Bankruptcy Save My Home?
Choosing to file for bankruptcy is a difficult and emotional experience. For many people, one of their main fears is losing their home if they file for bankruptcy. However, in most cases, bankruptcy can prevent your home from going into foreclosure and help you get caught up on payments. Choosing the best option when filing […]