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Median income figures increase effective April 1

The easy way to qualify financially for chapter 7 bankruptcy (i.e. without doing the means test) is by being under the median income. The census bureau has determined that the median income for these household sizes has changed as follows: One person household: (from...

Theisen, Timothy

The Right Attorney When Legal Matters Become PersonalTimothy TheisenContact Me:[fl_people_single element="phone" admin_label="Phone (person detail element)" module_class="fl-darklinks" _builder_version="4.16" custom_margin="10px||10px||false|false"...

Consumer debt continues to grow

A recent Star Tribune article indicates that Minnesotans have an average of $63,000 of debt per capita (which includes mortgages). As a bankruptcy attorney, we definitely saw a lull with all of the moratoriums on student loans, garnishment, foreclosures and evictions,...

Top bankruptcy law firms hit $2500/hour billing mark

Don't let the headline alarm you! We do mostly consumer bankruptcies, usually on a flat fee, and even though I put many hours into each case, most of our cases are less than $2500 fee for everything. This article indicates that in some major Chapter 11 cases, such as...

Foreclosures start creeping up

After many states, including Minnesota, imposed moratoria on foreclosures following the onset of the pandemic, combined with other federal programs pausing the need to make ongoing payments, foreclosures have started increasing. Foreclosures are still hardly seen,...

Minnesota’s Dual System for Debt Collection

Like many states, Minnesota has a conciliation court, which is a user-friendly forum where disputes involving less than $15,000 can be resolved, most typically by a referee or judge. The case is typically done off the record, attorneys are typically not involved, and...

Student Loan Discharges in Bankruptcy Complete First Year

The Department of Education recently announced a successful first year of its new program, loosening the standards it uses in determining whether to oppose people seeking an “undue hardship” of their student loans, once they have filed for bankruptcy. The Biden...

Median income figures decrease effective November 1

The easy way to qualify financially for chapter 7 bankruptcy (i.e. without doing the means test) is by being under the median income. Despite inflation and low unemployment, the census bureau has determined that the median income for these household sizes has changed...

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