Bankruptcy Questions

My best advice is if you have questions during your bankruptcy filing to give your attorney a call. In most cases your questions can be answered with a minute or two on the phone, so why sit and worry when you can get an answer. The reason you hired an attorney is so you do [...]

Effectiveness of Home Mortgage Modifications

Is mortgage modification effective at preventing foreclosure? I have been looking for statistics regarding the effectiveness of mortgage modifications and have not found any good evidence of the effectiveness of the program. I can report that with my clients most receive a small reduction in their mortgage payments, but most do not receive any large [...]

Easy Credit

In many cases credit scores are important if you want to finance a home or car. If you have a good credit score you will receive a lower interest rate. The problem is that if you finance a home or car that is too expensive even with a good interest rate, you will not be [...]

Keeping your Home after Bankruptcy

One of the greatest concerns that homeowners who meet with me regarding bankruptcy have is whether they can keep their home after filing bankruptcy. The short answer is, it depends. Keeping your home depends on how far you are behind on payments, whether the house is upside down (value of house is less than loans) [...]

Helping Your Attorney

In order to have your bankruptcy go smoothly it is important to get the information requested by your attorney. In order to get a bankruptcy filed in a timely fashion it is important for both the attorney and client to work together to achieve a good result. If you do not get the information requested [...]

Bankruptcy Process and Disposing of Assets

It is important for people in the bankruptcy process to remember to not sell or dispose of their property until it is approved by the trustee. We generally recommend that our clients refrain from selling cars, homes, or other personal property until after the bankruptcy trustee has abandoned the assets. In many cases you are [...]

Bankruptcy vs. Debt Consolidation

Many of our clients have tried debt consolidation before talking to us about bankruptcy. In most cases the debt consolidation was not effective for the clients, the debt consolidator simply charged incredible fees, but never delivered on the debt relief. The clients then talk to me and find out that they should have filed bankruptcy [...]

Star Tribune Article “In Jail for Being in Debt”

An article appearing in the Sunday Star Tribune and Tuesday online version of the Star Tribune (http://www.startribune.com/investigators/95692619.html?elr=KArksUUUycaEacyU) is drawing a lot of attention. The individuals in the article who are taken to jail are guilty of contempt of court for failing to comply with a court order. The United States of America has done away [...]

Top Ten Things to Avoid Before Filing For Bankruptcy

If you are thinking about filing for bankruptcy this list has a few of the worst things you can do before filing: 1. Transfer property to friends or relatives;2. Pay back friends or relatives for loans before filing for bankruptcy;3. Deplete your retirement accounts to pay back creditors or pay bills;4. Transfer money from retirement [...]

Bankruptcy Myths

When I talk to clients I often hear a lot of bankruptcy myths. The most common one is that bankruptcy will ruin my credit. In many cases people who are worried about their credit have not even checked their credit score, and the bankruptcy does not drop the score any lower than it already is. [...]

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