Debt Relief Without Bankruptcy: Options in Saint Cloud
Filing for bankruptcy is an option if you are in a lot of debt you cannot handle. However, there are other options that you can try first. Not everyone can qualify for bankruptcy under Minnesota law; others may want to avoid it at all costs. Here are a few options for debt relief without bankruptcy […]
Bankruptcy and Your Credit Score in Saint Cloud
There is a common belief that filing for bankruptcy will ruin your credit score. Bankruptcy is included on your credit report by the three credit bureaus and will significantly impact your score. However, that impact may be less severe than you imagine. You should consider a few things about bankruptcy and your credit score before […]
Will Filing for a Bankruptcy Ruin My Credit? (video)
For most people, it’s commonly thought that filing for bankruptcy will ruin their credit. In fact, “Will filing for bankruptcy ruin my credit?” is a question we often get. To answer that question, the team at Kain + Henehan takes a more in-depth look at how bankruptcy affects your credit score and what you can […]
Benefits and Consequences of Filing For Bankruptcy
When you file for bankruptcy, there are short-term and long-term benefits to consider. While the most immediate focus is on finding a way to handle unmanageable debts, you can benefit in other ways. Here are some of the ways that filing for bankruptcy impacts your short and long-term situations for the better. Stop Collections and […]
Personal and Business Bankruptcy in Saint Cloud
Bankruptcy is a topic that everyone knows about, but few people understand fully. It can be a complex process that people think is a bad option, but it is really an option of last resort to help you get back out of debt and start over when your situation is too out of control. It’s […]
How Much Debt Do I Need for a Bankruptcy? (video)
Attorney Margaret Henehan clarifies an important misconception about bankruptcy: there is no legal minimum debt requirement to file for bankruptcy. This revelation may be surprising to many. The threshold for considering this financial step doesn’t start with a specific dollar amount mandated by the court. Technically, someone could file for bankruptcy with as little as […]
Choosing the Right Type of Bankruptcy in Saint Cloud
The first decision that everyone has to make when filing for bankruptcy is choosing the right type of bankruptcy to file. Chapter 7 and Chapter 13 offer similar but distinct methods of helping you handle debt. Here is a deeper look at both options and how to know which one is better in your situation. […]
How Can I Deal With Back Taxes During Bankruptcy? (Video)
Filing for bankruptcy can be a stressful process, especially when you have back taxes weighing you down. However, there’s a silver lining: as bankruptcy attorney Bill Kain explains, certain income tax obligations may be discharged in bankruptcy, whether you go with Chapter 7 or Chapter 13. The prospect of getting rid of some tax debt […]
Debt Discharge 101: What You Need to Know Before Filing in Mendota Heights, MN
When you file for bankruptcy, one of the things that will happen is that your debt will be discharged. That means that you no longer owe a part or all of your debt since the court stepped in on your behalf. While this is a good thing, debt discharge can be a tricky part of […]
Will the Bankruptcy Trustee Send Someone to My Home? (Video)
When individuals file for Chapter 7 bankruptcy, one of the main concerns is whether the bankruptcy trustee will send someone to their home to inspect their assets. Understanding the role of the bankruptcy trustee and the importance of honesty and transparency in listing assets can alleviate these concerns. In a recent discussion with attorney Bill […]