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Bankruptcy success stories: Tim from Ohio

At the Atlas Law Firm, our representatives can answer frequently asked bankruptcy questions and help you determine if a filing is right for you. In yesterday's piece, we profiled the story of how one legal worker used bankruptcy to overcome medical bills and mounting debt, and through hard work and financial responsibility, was able to once again restore her credit rating. With this piece, we'll focus on how one business owner protected his finances from his failing company through this beneficial process. According to USA Bankruptcy Guide, which publishes stories about successful bankruptcies on its website, a contributor named Suzy… Read More

Bankruptcy success stories: Roy from Arizona

Today, Roy has developed great budgeting skills that have helped him stay out of debt for years. By living within his means, he is now slowly rebuilding his credit score and working toward a brighter financial future. In 2010, statistics indicated that as many as one out of every five Americans filed for bankruptcy due to an unexpected job loss. And though recent reports indicate that the U.S. job market is on the mend, for those in certain industries, the prospect of losing their paycheck is a harsh reality they must live with every day. Still, with the help of… Read More

Bankruptcy success stories: Sophie Walton

If you’re interested in learning more about what filing can do for you, give the Atlas Law Firm a call today. We’re a top twin cities bankruptcy law firm that makes its representatives available for consultations that could help you start a path to a brighter financial future. Despite the fact that it can be a highly beneficial financial tool when used effectively, many people put off filing for bankruptcy, racking up scores of missed payments and serious credit score damage in the process. However, those who are considering a protective filing can look to past success stories to see… Read More

Minnesota experiencing “improvement in the housing market,” report says

If you’re fighting to keep your home payments current, you may benefit from speaking with a Carver, Minneapolis or St. Paul bankruptcy attorney that can help you analyze your available options. On February 14, The Associated Press reported that the number of U.S. homes entering the foreclosure process declined in January, hitting its lowest level since before the housing market crash of the 2000s. In total, the report indicated that foreclosure starts had fallen nearly 30 percent year-over-year and were down 11 percent from December. The Minnesota Homeownership Center, Minnesota Housing, Greater Minnesota Housing Fund and the Family Housing Fund… Read More

Cosigners face liabilities for co-signee foreclosures

Should you find yourself in a situation where the primary borrower is unable to make payments on their mortgage, it may be beneficial for you to speak with a Minnesota bankruptcy lawyer who can provide legal assistance. In recent articles, we've discussed the cosigner-borrower relationship as it relates to Chapter 7 and Chapter 13 bankruptcy in Minnesota. However, in today's volatile economic climate, an unforeseen bankruptcy isn't the only situation that could affect cosigners should the borrower choose to pursue protection. For instance, while foreclosures are reportedly at their lowest level in the state since 2006, it's important for new… Read More

Mortgage loans won’t appear on cosigner’s credit report after cosignee bankruptcy

The “Ask Experian” team, following up on a user question, indicates that the bankruptcy could be indicated on two parts of the cosigner’s record. For Minnesota residents who are having trouble gaining approval for a new mortgage, nothing can be more helpful than the backing of a cosigner. With the assistance of an individual with a prime credit score and years of proper payment habits, borrowers in Carver County, Washington County and St. Paul can secure more affordable interest rates and even loan approvals they may have otherwise been denied. However, in the event that this individual needs to file… Read More

What happens if my Minnesota cosigner files for bankruptcy?

In this situation, it’s important that you reach out for help as soon as possible, whether you’re the cosigner or the primary borrower. Cosigners are generally financially responsible individuals with a solid credit history and the financial means to offer their support to a friend or loved one. However, in today’s uncertain world, where an unexpected job loss or medical expense can suddenly occur, cosigners may sometimes need to take advantage of the benefits that bankruptcy can offer. However, as the primary borrower, this can put you in a difficult situation. After all, it was probably the case that you… Read More

How Chapter 13 can make your home more affordable

It’s no secret that over the past two decades, numerous Minnesota residents took advantage of the booming housing market by taking out second and third mortgages on their homes, which had skyrocketed in equity. It’s no secret that over the past two decades, numerous Minnesota residents took advantage of the booming housing market by taking out second and third mortgages on their homes, which had skyrocketed in equity. However, following the housing crisis of 2007 and 2008, many individuals found themselves not only underwater on their mortgages, but out of a job and with little savings to make up the… Read More

Alternatives to traditional cosigning

At Atlas Law Firm, our team of professionals can help you review these details, including providing answers to frequently asked bankruptcy questions that you may have. In recent articles, we discussed the various repercussions that Chapter 7 and Chapter 13 bankruptcy can have on both a cosigner and a consignee in the event that either party decides to take advantage of court protection. While Minnesota bankruptcy attorneys can help both parties right their finances in this scenario, some borrowers may be eager to avoid this kind of legally binding agreement altogether. If you require the help of a cosigner for… Read More

Positive outlook, lower standards duel in Minnesota housing market

Recently, this blog reported that national bankruptcy filings, as well as those in Minnesota, were down during 2012 compared to the previous year. Recently, this blog reported that national bankruptcy filings, as well as those in Minnesota, were down during 2012 compared to the previous year. This decrease in filings may be attributed to the slowly lurching economy, which has been gaining steam steadily, if slowly, over the past two years. As with bankruptcies, the outlook for the housing market in the North Star State has seemed similarly positive. A recent article in the Minneapolis Star-Tribune highlighted the recent spike… Read More

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