Posts

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…

New median income figures go into effect April 1, 2017

The Department of Justice recently did its semiannual adjustments of the median income figures, which are effective in bankruptcy case is filed after April 1, 2017. The median income is an important figure, as debtors below that figure are almost…

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,…

BAP Takes Property Tax Exemption Case Under Advisement

The 8th Circuit Bankruptcy Appellate Panel (BAP) heard oral arguments in the case of In re Sheri Hanson last week. I represent debtor Sheri Hanson, who is trying to claim an exemption to protect a $1,500 property tax refund, which the State…

Median income figures get upward adjustment

Recently released census bureau figures show that the median income figures will increase for bankruptcy cases filed after November 1. These figures are typically adjusted every November and May. The median income is a function of household…

When is the best time to file bankruptcy?

The best time to file bankruptcy is probably a year or two ago. While I say that somewhat tongue-in-cheek, it is largely true – most people that I see probably could have and should have filed bankruptcy a year or two ago, but they held off,…

Bankruptcy helps you live longer

People don’t always think of debt relief as a part of financial planning, but it often is. Having counseled people in financial trouble for over 25 years, I know that the fear of bankruptcy being imminent, and trying to determine whether there…

How do I protect tax refunds in bankruptcy?

Tax refunds are considered property of a bankruptcy estate, regardless of whether you have received them and have the cash proceeds, check in your hand, or money in the bank, or whether you haven’t filed yet. It’s my job as a bankruptcy…

How will bankruptcy affect my credit?

Probably one of my most frequently asked questions. The answer is, bankruptcy isn’t that bad on your credit. The first question I ask people, is how is your credit now? Most people have let their credit slide a bit by the time they have contacted…