General Bankruptcy
New Bankruptcy “Means Test” Income Figures Effective April 1, 2017
The U.S. Trustee’s Office has announced new median income figures slated to go into effect on April 1, 2017. These income figures will become part of the bankruptcy means test for chapter 7. The new figures for Minnesota are: $52,785 for a one person household $70,889 for two person household $85,033 for a three person…
Read MoreCraig Andresen Appointed Treasurer of MSBA Bankruptcy Section
On May 21, 2016, the Minnesota State Bar Association’s Bankruptcy Section appointed Bloomington attorney Craig Andresen as treasurer of the section, for the 2016 – 2017 year. This follows Mr. Andresen’s service as education director for the prior year, and his service as chair of the consumer committee the year prior to that. Mr.…
Read MoreFiling Bankruptcy Can Help Improve Your Credit Score
Okay, right now you’re probably wondering if the headline of this article is a joke, and why your valuable time should be spent reading an article on bankruptcy that isn’t serious. Except the headline is not a joke, and I am being serious. Banks don’t think like you and I do, and eliminating debts through bankruptcy can…
Read MoreThe Reasons You Have To List All The Things You Own In Your Bankruptcy Papers
The first time you meet with a bankruptcy lawyer, he or she is bound to mention that you are required to list all the things you own in your bankruptcy papers — even things you want to keep out of the bankruptcy. You might wonder why this is so important. After all, some property is…
Read MoreHow Do I Prepare a List of Debts for My Bankruptcy Petition?
Your bankruptcy lawyer will ask you for a list of debts, probably during the very first meeting you have with him or her. While this initial list of debts need not be very detailed, when it comes time to file your case in bankruptcy court, you will need a list which includes the name and…
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