Atlas Law Firm


What Should Someone Do Before Filing For Bankruptcy?

Before you actually file, you need to educate yourself on bankruptcy, and the best way to do that is to meet with an experienced bankruptcy attorney. Many bankruptcy attorneys provide free consultations. There is no obligation to you to sit down, and understand what your bankruptcy options are, and what bankruptcy can, or cannot do for you. If you were concerned about potentially getting troublesome advice, or overpaying for legal fees, it would not be a bad idea to meet with several experienced bankruptcy attorneys to see if they are offering you similar advice. You should make sure that you… Read More

U.S. Trustee’s Office releases updated bankruptcy means test numbers

The U.S. Trustee’s Office, which is the governmental agency that oversees the administration of bankruptcy cases, has released the latest numbers for means test qualifications used in Chapter 7 and Chapter 13 bankruptcies. The new numbers will to be used in all consumer Chapter 7 bankruptcies filed after November 1, 2017. Download Full Image The means test calculates gross annual income based on the previous six months of gross income for the household, to determine if an individual or couple qualifies for chapter 7 bankruptcy. The projected annual gross income is then measured against the Median Family Income for the… Read More

Attorney Michael Sheridan Publishes Literature In The Bankruptcy Field

Inside the Recent Release of a Minnesota Bankruptcy Lawyer’s New Book Minneapolis, MN: Bankruptcy Attorney Michael Sheridan of the Atlas Law Firm is proud to announce that he has released his first published book on surviving the bankruptcy process in December of 2016. The book is titled “Secrets of Bankruptcy Survival in Minnesota: Info That May Help You Understand the Bankruptcy Process, Make a Fresh Start, and Rebuild Your Credit Fast,” and combines the years of expertise that Attorney Sheridan maintains as an experienced Bankruptcy attorney into a single book. The literature provides its audience with a body of practical… Read More

Consumer Financial Protection Bureau Issues Its Highest Fine to Date Against Wells Fargo

CFPB fined Wells Fargo $100 Million for the illegal practice of opening unauthorized accounts for its customers. Wells Fargo incentivized its employees to sell customers on opening more deposit and credit card accounts, by offering employee bonuses for new accounts. This resulted in widespread fraud by Wells Fargo employees boosting sales figures by secretly opening more than two million accounts and funding them by transferring funds from consumers’ authorized accounts without their knowledge or consent, often racking up fees or other charges. Wells Fargo will pay full restitution to all victims (estimated to total at least $2.5 million) and a… Read More

New Bankruptcy Means Test Numbers starting April 1, 2016

Download Full Image The U.S. Trustee Department is releasing new Census Bureau Median Family Income By Family Size numbers to be used in all Chapter 7 and Chapter 13 bankruptcy means test calculations for cases filed after April 1, 2016. Above are the numbers for all U.S. states and territories.

Slip And Fall Injuries And Workers’ Compensation: Everything You Need To Know

Slip and fall injuries are the most common types of workplace injuries, most often occurring n jobs such as construction. They pose an even greater danger during the winter, as the low temperatures cause the ground to freeze and become slippery. While there are preventive measures both employers and employees can take to prevent this, sometimes this type of injury is simply unavoidable. Additionally, these accidents are not only reserved for winter. They could happen any time of the year if the workplace is cluttered, if the floor is wet or if there’s spilled oil. For workers who experience a… Read More

FHA Mortgage Loan Requirements

You can get an FHA mortgage with a credit score of 500 and with a foreclosure or bankruptcy on your credit report. Here are some of the most important requirements: 1. Consistent employment – You must have been employed for the past 2 years or at least had consistent income for the past 2 years. 2. Debt to Income Ratio – There are 2 ratios that have to be met. First, the Mortgage Payment Expense to Effective Income Ratio requires that the total monthly home mortgage payments (principal, interest, taxes, mortgage insurance, hazard insurance, HOA fees, etc.) when divided by… Read More

Michael Sheridan Defeats U.S. Trustee’s Motion To Dismiss His Clients’ Chapter 7 Bankruptcy Case.

When you file for chapter 7 bankruptcy, you must meet 2 income qualifications. First, you must pass the means test. The means test mechanically calculates whether you have the “means” to pay back a portion of your debts. One of the benchmarks of the means test, is whether your projected annual income exceeds the median income for a household of your size. If your projected annual income is greater than the median income for a comparable household, and you are unable net out enough allowed expenses on the second half of the means test, then there is a presumption that… Read More

How Do I Know If I Should File Bankruptcy?

It’s a question that everyone who has been struggling with debt and debt collectors has to ask themselves. The question is complicated by the fact that there are so many myths surrounding bankruptcy. Many people assume bankruptcy is the worst thing you could ever do to your credit and avoid looking into the option altogether. They assume that bankruptcy means you are going to lose everything you own and will have a black mark on your credit that will prevent you from getting credit, a new job, or an apartment in the future. All of these myths stem from one… Read More

High Cost Of Medical Treatment Causes Many People To File For Bankruptcy

According to the St. Cloud Times, a Minnesota news source, the most common reason that individuals in the United States file for bankruptcy is illness, and much of this is due to the high cost of drugs. Previously on this blog, we've written about how unexpected medical bills can cause individuals to fall behind financially and how, in some cases, people choose to forgo important medical treatment if they know it will add onto the debt they have already accrued. In a recent article featured in the medical journal “Blood,” a group of researchers suggested that the cost of cancer… Read More

Schedule a Free Consultation