Bankruptcy Blog
Posted on May 15, 2012 By Minnesota Bankruptcy Lawyer
ECMC, a Minnesota non-profit student loan debt collection agency, is currently in the spotlight after it was revealed in a Bloomberg Businessweek article that its debt collectors can make huge ...
Continue reading "Minnesota Student Loan Debt Collectors Make Huge Profits" »
Posted on May 1, 2012 By Minnesota Bankruptcy Lawyer
Interest rates for Stafford student loans are set to double on July 1, 2012 unless congress takes action to stop it. Stafford interest rates currently sit at 3.4%. That rate is set to increase to 6.8% ...
Continue reading "Student Loan Interest Rates Posed to Double" »
Posted on Apr 24, 2012 By Minnesota Bankruptcy Lawyer
According to a recent study, senior citizens (those aged 60 and over) owe $36 billion in student loan debt—that's 4.8% of all loan debt in the country. Many elderly people are still ...
Continue reading "Senior Citizens Still Struggling to Pay Student Loan Debt" »
Posted on Apr 18, 2012 By Minnesota Bankruptcy Lawyer
This Tuesday, Hostess will appear in bankruptcy court and attempt to reach an agreement with the Teamsters union. Hostess is currently in chapter 11 bankruptcy . Depending on the court's decision, ...
Continue reading "Hostess Bankruptcy Negotiations Could Kill Twinkies" »
Posted on Apr 4, 2012 By Minnesota Bankruptcy Lawyer
Major League Baseball (MLB) is insisting that the Dodgers cough up $8.3 million in attorney fees before they are allowed to emerge from bankruptcy . The issue will not likely halt the sale of the team ...
Continue reading "Dodgers Owe MLB $8.3 Million in Attorney Fees in Bankruptcy Case" »
Posted on Mar 28, 2012 By Minnesota Bankruptcy Lawyer
As you may have heard, American Airlines recently filed for bankruptcy . Now, the airline is asking a bankruptcy judge to break its labor union contracts so cost-cutting measures can be imposed on ...
Continue reading "American Airlines Poised to Walk Away from Union Contracts amidst Bankruptcy" »
Posted on Mar 19, 2012 By Minnesota Bankruptcy Lawyer
As if real debt collectors weren't bad enough, there has recently been an upswing of fraudsters posing as debt collectors attempting to collect phony debts. Apparently any criminal with a cell ...
Continue reading "6 Ways to Protect Yourself from Fake Debt Collector Scams" »
Posted on Mar 2, 2012 By Max Zawojski
Retailers that offer store credit cards, such as Best Buy, have been employing what are known as purchase money security interest (or PMSI) clauses in their contracts. These clauses purport to give ...
Continue reading "Drawing the Line with Store Credit Cards & PMSIs" »
Posted on Feb 23, 2012 By Minnesota Bankruptcy Lawyer
Discharged debt is typically debt from a credit card, car loan, or medical bills. But what about debt incurred from an auto accident, dog bite, or other tort? First of all, tort actions are civil law ...
Continue reading "Are Tort Damages Dischargeable in Bankruptcy?" »
Posted on Feb 13, 2012 By Minnesota Bankruptcy Lawyer
Several months ago, American Airlines filed for chapter 11 bankruptcy and announced its plan to lay off 13,000 workers. But the company promises to recover quickly and emerge stronger than ever. Top ...
Continue reading "American Airlines Aims to Take Off Again After Bankruptcy" »
Posted on Feb 9, 2012 By Minnesota Bankruptcy Lawyer
According to a survey released by the National Association of Consumer Bankruptcy Attorneys yesterday, bankruptcy attorneys are seeing an uptick in the amount of cases involving student loan debt. ...
Continue reading "More and More People with Student Loan Debt Filing for Bankruptcy" »
Posted on Feb 1, 2012 By Minnesota Bankruptcy Lawyer
Today, Chrysler Group posted its first annual profit since 2005. Chrysler has been through a lot in the past few years, including a bankruptcy filing , a federal bailout, and a buyout by Fiat. Last ...
Continue reading "Chrysler Goes from Bankrupt to Profitable in 2 Years" »
Posted on Jan 11, 2012 By Max Zawojski
Young adults are the fastest growing age group filing for bankruptcy. I have personally seen this in my own practice among people in their mid to late twenties. Most every case seems to have the same ...
Continue reading "The Rising Problem of Youth Debt" »
Posted on Jan 4, 2012 By Max Zawojski
Chapter 13 bankruptcy offers consumer borrowers two powerful instruments for restructuring secured debt; lien stripping and cram-down. Lien stripping is the process of removing a secured creditor when ...
Continue reading "Lien Stripping in Minnesota: Removing Second Mortgages and Other Junior Liens through Chapter 13 Bankruptcy" »
Posted on Dec 28, 2011 By Max Zawojski
…but not easily. The rote answer provided by bankruptcy websites and even many bankruptcy attorneys is that student loan debt, public and private alike, will not be discharged by filing for ...
Continue reading "Is it Possible in Minnesota to Discharge Student Loans Through Bankruptcy? Yes..." »
Posted on Dec 21, 2011 By Minnesota Bankruptcy Lawyer
Borders, once the second largest bookseller in the world (behind Barnes & Noble), is in the final stages of its bankruptcy dissolution . Bankruptcy Judge Martin Glenn approved Borders proposed ...
Continue reading "Bankruptcy Court Grants Borders Approval to Dissolve" »
Posted on Dec 14, 2011 By Max Zawojski
Recently, one of our clients received a letter from her creditor regarding the repossession of her car. The letter began "We have your car because you broke promises in our agreement." Now, ...
Continue reading "Civility in Creditor Communications; or Lack Thereof" »
Posted on Dec 7, 2011 By HL Law Firm
Is the demand of debt causing you to feel alone and hopeless? Are you having trouble finding someone to talk to about your debt? Have you noticed your relationships struggling alongside those overdue ...
Continue reading "Why Hire A Minnesota Bankruptcy Lawyer?" »
Posted on Nov 30, 2011 By HL Law Firm
If you are considering filing for bankruptcy, whether it is Chapter 11 bankruptcy , Chapter 13 bankruptcy or Chapter 7 bankruptcy , you are probably wondering what you need to do. Once you have ...
Continue reading "Understanding the Paperwork Involved in Minnesota Bankruptcy Cases" »
Posted on Nov 23, 2011 By HL Law Firm
Choosing to file for bankruptcy is not an overnight decision. The decision to file for bankruptcy should be something you have thought long and hard about. You should discuss this option with your ...
Continue reading "Filing for Bankruptcy? Four Things You Need to Do" »
Posted on Nov 16, 2011 By HL Law Firm
Filing for bankruptcy is a very big decision that can impact your entire life. Make sure you are going into a bankruptcy case with the right foot forward by avoiding the following 6 things. Knowing ...
Continue reading "Considering Filing for Bankruptcy? 6 Things you Should Never Do" »
Posted on Nov 9, 2011 By HL Law Firm
One of the biggest concerns people have when it comes to filing for bankruptcy is whether or not they will lose their property. This is an extremely valid concern; after all, our home is more than ...
Continue reading "Will I Lose my Home? Minnesota Bankruptcy Exemptions Attorney" »
Posted on Nov 2, 2011 By HL Law Firm
If you have recently filed for bankruptcy you may be wondering what happens next? Sure, your debts are discharged but what about your credit? In general, a bankruptcy filing will remain on your credit ...
Continue reading "Life After Filing for Bankruptcy - How to Re-Establish Credit" »
Posted on Oct 26, 2011 By HL Law Firm
One of the harsh realities that have come from the global economic recession is that foreclosures in Minnesota are at an all time high. More and more people are struggling to make the payments and are ...
Continue reading "Filing for Bankruptcy and Foreclosures - Minnesota Bankruptcy Advice" »
Posted on Oct 19, 2011 By HL Law Firm
Confused by the legal jargon in your bankruptcy case? Join the club. You don’t need your master’s degree in Law to understand some of the terms thrown around during your bankruptcy case. ...
Continue reading "Common Minnesota Bankruptcy Terms Explained" »