Minnesota Bankruptcy Legal Questions

No. That is not true at all. There may be reasons why she can't file a 7 (like having filed one within 8 years). There may be reasons she can't file a 13 (like not having disposable income). Neither includes being behind on your mortgage. This attorney may only do 7's and was telling her she couldn't save her house in a 7 if she is behind. Not the same thing.... Read Answer

There is a requirement that a debtor attend the "meeting of creditors."  Some courts allow a waiver of the requirement for a hardship.  If you are unable to attend the meeting of creditors you should discuss this with your bankruptcy attorney to determine if you would qualify for this hardship excuse. This is not intended to be legal advice, and is general in its nature. No attorney-client relationship exists or is formed by this information. Furthermore, this does not represent the views or opinions of LexisNexis or its affiliated companies.... Read Answer

Whether you would lose your house or any other assets in a bankruptcy case depends on the following factors: 1. Which Chapter you file; 2. The value of your house and how much equity is in it 3. The value of other assets you have 4. Whether you are current with required payments on debts secured by the house 5.  What exemptions you have available under applicable law to protect any equity in your home. You need to have a consultation with a bankruptcy attorney in your area for more details. Mark Markus has been practicing exclusively bankruptcy law in California since 1991.  He is a Certified Specialist in Bankruptcy Law by the State Bar of California Board of Legal Specialization,  AV-Rated by martindale.com, and A+ rated by the Better Business Bureau.  ... Read Answer

Are you talking about paying the filing fee, or the attorney's fees?   For the filing fee, which is presently $306 for a Chapter 7 bankruptcy case, you can apply to the court to pay that in installments. As far as attorney's fees, in a Chapter 7 the attorney must be paid in full prior to filing your case since they are not allowed to seek payment after the case is filed.   However, unless there is something urgent going on, you can usually make payments to the attorney until you are ready to file your case. If you truly can't afford an attorney, you can file by yourself, but you will be at a big disadvantage.  See my recent article on a study done by the U.S. Bankruptcy Court for the Central District of California on the success rate in filing bankruptcy cases without an attorney. Mark Markus has been practicing exclusively bankruptcy law in California since 1991.  He is a Certified Specialist in Bankruptcy Law by the State Bar of California Board of Legal Specialization,  AV-Rated by martindale.com, and A+ rated by the Better Business Bureau.  ... Read Answer

Although, I am not a Minnesota bankruptcy attorney, it is generally understood that the bankruptcy code requires that all disposable income goes toward your unsecured creditors.  That would include bonuses and tax refunds.  So the initial inclination is to say yes, it must be turned over to the trustee.  However, if the bonuses were assumed in your initial financial disclosure that your plan payments are based upon, then you may be able to keep it.  Chapter 13 can be a complex bankruptcy.  I would hope you have legal counsel.  Since every jurisdiction may handle these matters a little differently, I would speak with your attorney, or retain one in your jurisdiction to assist you with this issue. ... Read Answer

If by "safe" you are asking whether it can be taken by the bankruptcy court or trustee, the answer is yes, it is safe.  When you say you "own" your home, do you mean there are no liens against it and you own it free and clear?  If so, depending on how much equity is in the property and what exemptions you have available under applicable law, you may have to increase your plan payment to cover the non-exempt portion. Exemptions are "protections" for value you have in certain assets such that they are "exempt" from collections.  Every state has different exemptions amounts available. Exemption laws are based on the state where you resided for the 2 years prior to filing your bankruptcy case or, if you lived in more than 1 state during that period, in the state where you resided for the greater part of the 180 days prior to that 2 year period.  You need to consult with an experienced bankruptcy attorney in your area for more details. Mark Markus has been practicing exclusively bankruptcy law in California since 1991.  He is a Certified Specialist in Bankruptcy Law by the State Bar of California Board of Legal Specialization,  AV-Rated by martindale.com, and A+ rated by the Better Business Bureau.  ... Read Answer

Well, the way you phrase your question leaves open a lot of possible answers and without more specific facts it's hard to be accurate.   Filing a bankruptcy case will (assuming it's the first case filed in the last year) stop a foreclosure sale temporarily.  But how long depends on a whole host of factors, such as what chapter you file, what other debts there are, whether you're seeking to catch up on payments on the property in question, how much equity it has, what other assets you have, etc.  If you have no intention to complete a bankruptcy or pay the lender, and this is your only (or primary) debt, then it would likely be considered a bad faith filing and your case will be dismissed within a couple of months.  The lender may also seek relief from the automatic stay sooner to proceed with the foreclosure.  Mark Markus has been practicing exclusively bankruptcy law in California since 1991.  He is a Certified Specialist in Bankruptcy Law by the State Bar of California Board of Legal Specialization,  AV-Rated by martindale.com, and A+ rated by the Better Business Bureau.   ... Read Answer

Well, my first question would be, if you want to continue paying "your monthly obligations" why would you want to file a bankruptcy?  That having been asked, you can voluntarily repay any debt you want after you file any bankruptcy case.  Chapter 13 is a typical chapter where some repayment is made on debts, depending on your budget and assets. There are pros and cons for filing any bankruptcy chapter, and different eligibility requirements for each.  There's no way to determine what is best for you without first having a comprehensive consultation with a qualified bankruptcy attorney in your area.  Mark Markus has been practicing exclusively bankruptcy law in California since 1991.  He is a Certified Specialist in Bankruptcy Law by the State Bar of California Board of Legal Specialization,  AV-Rated by martindale.com, and A+ rated by the Better Business Bureau. ... Read Answer

There are a lot of questions inside your question, and without answers to those questions, there is no good answer to the one you just asked. For example, what sort of bankruptcy did the company file? Is the case done? What was the result? What is your interest in the company collecting on its receivables? Etc.... Read Answer

If you are in Minnesota, you must sign a statement that testifies to whether you had equity in a residence when you filed your case and as to whether you are in arrears on a domestic support obligation, and it must be filed with the court. The court has a local form to use for this purpose.... Read Answer

If you cannot pay your bills every month, but you think you could if you did not have to make credit card and medical payments, or payments on judgments from either, you should consider filing bankruptcy. In your case, I would suggest you contact a bankruptcy attorney to discuss your situation in more detail.... Read Answer

A corporate bankruptcy filing will only affect the corporation's obligations on its debts.  It does not affect any other entity or person, including yourself.   Of course, if you have personal guarantees on corporate debts, and the corporation pays 100% of those debts in its bankruptcy case, then in that instance your liability would be removed. You should also note that corporations do not receive discharges of debts in Chapter 7 cases (which is what would be filed to go out of business).   Visit http://www.bklaw.com/business_bankruptcy.html  for more information. Whether you would need to file a personal bankruptcy can only be determined after a comprehensive analysis of your finances by an experienced bankruptcy attorney. Mark J. Markus, Attorney at LawCertified Bankruptcy Law Specialist--State Bar of California Board of Legal SpecializationHandling exclusively bankruptcy law cases in California since 1991.http://www.bklaw.com/bankruptcy blog: http://www.bklaw.com/bankruptcy-blog/Follow Me on Twitter:  @bklawr... Read Answer

Either Chapter 7 or Chapter 13 bankruptcy are possible options for you. If you are lower income, you are probably looking at Chapter 7. If you are higher income, it might be a Chapter 13. The choice of bankruptcy chapters requires a detailed consultation with an attorney, so you should call an attorney for more information.... Read Answer

There is insufficient information to answer your question.  When was your bankruptcy case filed?  What chapter was filed?  When did the relative pass away? If you have an interest in an asset on the date your case is filed, or become entitled to receive it within 180 days after filing via inheritance, then it is property of the bankruptcy estate and subject to being sold by a bankruptcy trustee in a Chapter 7 case unless you have sufficient exemptions to protect it under applicable law. Exemptions are "protections" for value you have in certain assets such that they are "exempt" from collections.  Every state has different exemptions amounts available. Exemption laws are based on the state where you resided for the 2 years prior to filing your bankruptcy case or, if you lived in more than 1 state during that period, in the state where you resided for the greater part of the 180 days prior to that 2 year period. Mark J. Markus, Attorney at LawCertified Bankruptcy Law Specialist--State Bar of California Board of Legal SpecializationHandling exclusively bankruptcy law cases in California since 1991.http://www.bklaw.com/bankruptcy blog: http://www.bklaw.com/bankruptcy-blog/Follow Me on Twitter:  @bklawr  ... Read Answer

You have the right to voluntarily dismiss the case after it is filed.  This, however, may impact your ability to refile.  Before you dismiss the case, you should speak with your attorney to determine if you should continue with the case or dismiss the case. This is not intended to be legal advice, and is general in its nature. No attorney-client relationship exists or is formed by this information. Furthermore, this does not represent the views or opinions of LexisNexis or its affiliated companies.    ... Read Answer

I can't tell you what will happen--that's a very broad question, but I can tell you that you cannot be denied a student/educational loan simply because you filed a bankruptcy case.   Bankruptcy Code section 525 prohibits discrimination in that regard. Mark J. Markus, Attorney at LawCertified Bankruptcy Law Specialist--State Bar of CaliforniaHandling exclusively bankruptcy law cases in California since 1991.http://www.bklaw.com/bankruptcy blog: http://www.bklaw.com/bankruptcy-blog/Follow Me on Twitter:  @bklawr  ... Read Answer

Debts related to education is non-dischargeable in bankruptcy unless the Court determines hardship. It doesn't have to be an educational loan or scholarship. It is a very broad definition. However, if you think the nature of the debt doesn't meet the definitions under 523(a)(8), you can sue the college for violation of the discharge injunction.... Read Answer

They need to be VERY careful to not have it be a fraudulent conveyance.  For example,. if they transfer the cabin to one of the kids, the trustee can get a judgment against the kid and then sell the cabin, but probably for a lot less at a sheriff sale than the amount of the judgment and the kid would owe the difference.  And the parents could risk not having their debts discharged in the bankruptcy (not to mention a criminal charge).  I don't mean to scare you, but this is not a place to play around.  There are ways to achieve what you desire, but only after a pretty careful consideration of the facts.  My advice, get them to someone who is wiling to help walk them through the options in a no cost consultation.  We provide those as do many other reputable bankruptcy firms.... Read Answer