Posts

Bankruptcy vs. Debt Settlement – Which is better?

https://www.youtube.com/watch?v=XEoETAnhoEc Almost everyone considering bankruptcy can and should consider debt settlement as a last ditch effort to avoid bankruptcy. Debt settlement can be preferable to bankruptcy in these types of circumstances: …

New median income figures, effective April 1, 2018

The Department of Justice recently did its semiannual adjustments of the median income figures, which are effective in bankruptcy cases filed after April 1, 2018. The median income is an important figure, as debtors below that figure are almost…

8th Circuit Hears Oral Arguments in Property Tax Refund Exemption Case

I had the privilege to argue before the Eighth Circuit Court of Appeals on Tuesday. The issue was whether a Minnesota property tax refund is exempt under Minnesota law as “government assistance based on need.” A Minnesota property tax…
,

New IRS Collection Tool – Denying Passports

Effective this month, seriously delinquent taxpayers (defined as $51,000 or more to the IRS, where liens have been filed) may get their passports revoked or denied. This is the implementation of legislation that was passed in December 2016.…

Minnesota Bankruptcy Filings Increase

Minnesota Bankruptcy Filings Increase After six straight years of double-digit annual declines in bankruptcy filings, Minnesota Bankruptcy Filings of 2017 edged up slightly over 2016, with a 1.51% increase. Bankruptcy filings peaked…

Can I file bankruptcy on my association dues?

When you buy into a condominium or townhouse, you will be subject to an association, whose fees, bylaws and rules “run with the land.” By operation of the agreement itself, if you fail to pay the dues (or any additional amounts that are…

What are the downsides of filing bankruptcy?

The decision to file bankruptcy requires consideration of the pros and cons. My new debt resolution comparison chart is a good place to start when considering the alternatives, and whether bankruptcy is the best fit. There are certain negative…

My driver’s license has been suspended due to a judgment. How can I get it back?

Everybody knows that under Minnesota law, you need to have insurance on your car, and that driving without insurance can result in criminal citations. One of the remedies that not a lot of people understand, is that if you cause an accident…

6 Things NOT To Do When Considering Bankruptcy

My last blog post suggested five things to do when considering bankruptcy; I wanted to start out being positive, and the things not to do are probably more important. The first three tips concern keeping your family out of your finances.…

6 Things To Do If You are Considering Bankruptcy

Most people, by the time they start thinking about bankruptcy, have exhausted other options. Many times people find themselves in a situation where they may or may not be able to dig themselves out of a financial hole, depending on future contingencies,…