3 Types MN Debt Consolidation that Could be Trouble – Part 1 of 2

The number of bills you have to pay each month is staggering. Some of those bills, particularly the personal loans or credit cards, carry high interest rates. You may feel like you are paying the minimum amount each month and not getting anywhere. When a debt consolidation opportunity arises you are interested and you hope [...]

By | 2017-10-11T04:11:11+00:00 October 11th, 2017|Bankruptcy Library, Library|0 Comments

The Automatic Stay – Bankruptcy Attorneys Twin Cities, Minnesota

The automatic stay is perhaps one of the most sought after features of personal bankruptcy. First, let’s take a look at the term itself. The “automatic” in “automatic stay” refers to the fact that the stay arises by the debtor’s filing for bankruptcy; it does not require a separate petition or hearing. The word “stay” [...]

By | 2017-10-11T04:02:35+00:00 October 11th, 2017|Bankruptcy Library, Library|0 Comments

Course Requirements for Debtors in Bankruptcy

The Department of Justice operates the U.S. Trustee Program to oversee U.S. trustees and to administer the education  requirements of the current Bankruptcy Code, the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. The two exceptions to this administrative control are Alabama and North Carolina, in which the courts’ bankruptcy administrators are in charge [...]

By | 2017-10-11T03:59:49+00:00 October 11th, 2017|Bankruptcy Library, Library|0 Comments

Bankruptcy and your Credit Score

Bankruptcy can be a double-edged sword with respect to your credit score (i.e., FICO score) and your ability to obtain loans. On one hand, bankruptcy can erase much of your debt and thereby improve your creditworthiness. On the other hand, bankruptcy stays on your credit report for years (for example, Chapter 7 bankruptcy stays on [...]

By | 2017-10-11T03:57:16+00:00 October 11th, 2017|Bankruptcy Library, Library|0 Comments

Categories of Bankruptcy Debt

There are three major categories of debt obligations in a bankruptcy case: priority claims, secured claims and unsecured claims. The categorization of a claim plays a large role in determining how much of that claim will actually be paid. In some cases, the categorization of claims can also affect the rights of the creditors. The [...]

By | 2017-10-11T03:50:31+00:00 October 11th, 2017|Bankruptcy Library, Library|0 Comments