07th October 2009
“A person is insolvent whenever the aggregate of his property is not sufficient to pay his debts” – First State Bank v. Sibley County Bank, 105 N.W. 485
What is Bankruptcy?
The bankruptcy system was created to allow people with too much debt...
07th October 2009
“A bankruptcy court is without jurisdiction to adjudicate controversies over property in the possession of an adverse party without the consent of such party.”
- In re St. Cloud Tool and Die Co, 533 F.2d 313
Bankruptcy can do many things to help...
22nd September 2009
Sometimes you get into severe financial straits and have to rely on bankruptcy. When this unfortunate happenstance occurs, which form of bankruptcy do you choose? The two major forms of bankruptcy for consumers are Chapter 7 and Chapter 13. Each of the...
17th September 2009
An automatic stay is created when a person files for bankruptcy under either Chapter 7 or Chapter 13.
While it is in effect, creditors cannot:
• Try to bring a claim against you
• Try to enforce a judgment against you
• Try to gain ...
15th September 2009
Chapter 7 bankruptcy is the liquidation of your assets in return for having your debts pardoned. Chapter 13 bankruptcy lets you work with the court to find a way to pay off your debts. In order to prevent people from abusing Chapter 7 proceedings when t...
05th August 2009
Are you facing the possibility of foreclosure? Knowing the State law is the key to helping you through the process. Minnesota foreclosures are handled both in court (judicial) and out of court (non-judicial). What does that mean to you? Foreclosures a...
01st August 2009
Are you thinking about filing for bankruptcy? This process can seem daunting and overwhelming in the midst of an already stressful time. Here are the basic steps in the filing process:
1) Review Your Finances & Compare Against Monthly Expenses
It ...
