Atlas Law Firm


Understanding the Bankruptcy Abuse Prevention and Consumer Protection Act

Bankruptcy is a powerful tool used that can be used to protect you and your family from debt collection when you are unable to pay debt. Bankruptcy is, in fact, one of the few legal protections that the common man (or woman!) has against the combined might of the banking and loan industry. When it comes time to declare bankruptcy, however, it is important that you understand all of your rights as well as your obligations. In recent years, the nature of bankruptcy has been changed, especially through the passing of the Bankruptcy Abuse Prevention and Consumer Protection Act in… Read More

Choosing the Bankruptcy for You

Bankruptcy is not a process to be entered into lightly, but when you have debts and obligations that you absolutely cannot meet, it is a lifesaver. As freeing as bankruptcy can be, however, bankruptcy laws in this country can seem quite complex to the uninitiated. Yet once you have a full understanding of the bankruptcy process and how best to approach it, you can end up coming out the other side of your bankruptcy far better off than you were before. Of course, without a full understanding of bankruptcy, it is easy to make mistakes that can have a devastating… Read More

Credit Repair: Do-It-Yourself for Free

Many of my clients ask: How quickly can you rebuild credit after bankruptcy? While you can get credit cards shortly after your bankruptcy is filed, getting good interest rates typically takes 12-24 months of rebuilding your credit. If you’re looking to repair or rebuild your credit, you likely have heard the commercials advertising credit repair for hire. These credit repair consultants promise improved credit scores by challenging negative information on your credit report. But everything the credit repair professionals can do, you can do yourself for free. To learn more, follow the steps below and download the free Credit Repair… Read More

U.S. Trustee Releases Means Test Numbers To Be Used For Chapter 7 Qualification

The U.S. Trustee’s Office has released the latest numbers for Median Family Income Based on State/ Territory and Family Size which are used in the means test qualification for Chapter 7 bankruptcy. These median income numbers are to be used in all consumer Chapter 7 bankruptcies filed after November 15, 2014. Download Full Image Attached are the latest Median Family Income numbers that have been released by the U.S. Trustee’s Office. In order to determine if an individual or couple qualifies for chapter 7 bankruptcy, the means test estimates gross annual income based on the past six months of gross… Read More

Automatic Payment Withdrawal Forms for Chapter 13 Bankruptcy Payments

Attached are the automatic bank withdrawal request form and the automatic paycheck deduction form. Contact the chapter 13 trustee’s office at 612-338-7591 (Minneapolis/ St. Paul metro) or 218-354-7356 (Greater Minnesota) if you have additional questions. Downloads FORM Bank Wthdrwl ch 13 – Carlson.pdf FORM Wage Deduct ch13 – Carlson.pdf FORM Bank Wthdrwl ch13 – Burrell.pdf FORM Wage Deduct ch 13 – Burell.pdf The chapter 13 bankruptcy trustees for Minnesota allow chapter 13 filers to make their chapter 13 plan payments via automatic bank withdrawals and automatic paycheck deductions. Automatic payments are not required. Chapter 13 bankruptcy filers can elect to… Read More

Bankruptcy Form: Objection to Claim – Chapter 13

This bankruptcy form Notice of Objecton to Proof of Claim and Notice of Hearing and Objection to Claim can be used in Chapter 13 bankruptcy by a debtor’s attorney to object to the proof of claim of a creditor who has overstated the amount due. Downloads DOWNLOAD BANKRUPTCY FORM As a chapter 13 bankruptcy attorney, you must review the claims of your clients’ creditors to ensure that the claims are approximately correct. This is especially true of priority debts, such as some tax liabilities that are not dischargeable. This particular Objection to Claim was to object to the claim of… Read More

Rebuilding Credit After Bankruptcy

This is a helpful guide for the steps to take when building your credit score. Credit Report Information Graphic Originally seen on

Foreclosure Timeline

Those going through a foreclosure have lots of questions to ask, such as how long does foreclosure take, what is involved in foreclosure, what options do they have and so on. Consulting an attorney is your best bet if you are late on your mortgage payments and are planning to go through a foreclosure in Minnesota. We’ll take you step by step through the foreclosure process. The more you know the better decisions you can make about bankruptcy in Minnesota or how to handle a foreclosure. Month 1 Day 1 Payment is late. Day 15 Late fee is charged. Month… Read More

New Study Finds High Debt Can Be Hazardous To Your Health

As reported in, a new Northwestern Medicine® study, recently published in Social Science and Medicine, has found that high financial debt is associated with higher blood pressure which can put one at increased risk for hypertension and stroke. “We now live in a debt-fueled economy,” said Elizabeth Sweet, lead author of the study. “Since the 1980s American household debt has tripled. It’s important to understand the health consequences associated with debt.” Researchers used data from the National Longitudinal Study of Adolescent Health for 8,400 young adults, ages 24 to 32 years old. The study found that 20 percent of… Read More

MN Passes Law That Stays Foreclosure If Homeowner Is Applying For Modification

Governor Dayton recently signed into law a bill that was passed unanimously by the House and Senate. The new law creates new loss mitigation and “dual tracking” requirements. Dual tracking is the practice under which mortgage lenders simultaneously process an application for a loan modification and proceed with a foreclosure. In the past, homeowners have lost their home to foreclosure while going through the mortgage modification process. Dual tracking is a process that creates a catch 22 for homeowners in need of help with their mortgage terms. The mortgage lenders would explain to homeowners that they would not consider a… Read More

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