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What types of income or funds are exempt from garnishment?

In some cases, you may discover that your bank account has been garnished seemingly without your knowledge. In some cases, you may discover that your bank account has been garnished seemingly without your knowledge. Though debt collectors are legally obligated to “notify” you if they are filing a case against you to seek garnishment, this notice may not always get to you or seem like a legitimate document. These companies often don’t have your current address, only your “last known,” but they do not need to prove that you have physically received the complaint in order to move forward with… Read More

What is the redemption period in the Minnesota foreclosure process?

In Minnesota, you have certain rights during the first year of the foreclosure process that enable you to keep possession of your home. In Minnesota, you have certain rights during the first year of the foreclosure process that enable you to keepyour home. There are several actions you can take to stop the case from escalating, like Chapter 7 or Chapter 13 bankruptcy, which this blog has discussed recently. However, even if you are unable to stop the sheriff’s sale of your home, you can still live in and retain ownership of your home during what is called the redemption… Read More

What is a short sale and how can it help homeowners facing foreclosure?

One of the many strategies Minnesota residents can take to avoid foreclosure is to go through the short sale process. One of the many strategies Minnesota residents can take to avoid foreclosure is to go through the short sale process. If you have decided that given your current financial situation and the mortgage you are currently contracted to that it would be better for you to let go of your property, a short sale may be the way to go. Of course, before heading down this path you should always consult an experienced Minneapolis foreclosure attorney, who can advise you… Read More

Other ways to stop foreclosure: Bankruptcy

Once this plan is approved, your home is firmly back in your hands, and provided that you keep up with your reduced monthly payments and your current mortgage amounts, your lender can’t come after you any more. As this blog has discussed previously, if you’re a Minnesota resident and you’ve fallen behind on your mortgage payments, your lender may have initiated the foreclosure process. It can be overwhelming if you’ve received this notice, but there are a number of ways in which you can stop foreclosure of your home. While you should always consult an experienced Minneapolis Chapter 13 bankruptcy… Read More

How does the foreclosure process work in Minnesota?

If you’ve been struggling to pay bills and have fallen behind on your mortgage, you may be worried about what the future holds for your family. If you've been struggling to pay bills and have fallen behind on your mortgage, you may be worried about what the future holds for your family. Without knowledge of the strategies you can implement to avert crisis, your prospects can seem even more intimidating. However, in Minnesota, the foreclosure process can be easily broken down into its component parts. Even if you're having a tough time, familiarizing yourself with these steps can at the… Read More

The Fair Credit Reporting Act and you

Many individuals in Minnesota and around the country are unaware of their credit scores, let alone the fact that they have a number of rights when it comes to keeping the information on these documents private and accurate. Many individuals in Minnesota and around the country are unaware of their credit scores, let alone the fact that they have a number of rights when it comes to keeping the information on these documents private and accurate. The Fair Credit Reporting Act (FCRA) was originally passed by Congress in 1970, with the intention of helping to protect consumers from suffering from… Read More

Can married couples file individual bankruptcies?

If you’re married and struggling with your economic situation or credit card debt, you may have put off filing for bankruptcy because you believe that you must file with your spouse, a decision that could affect their finances as well as your own. If you're married and struggling with your economic situation or credit card debt, you may have put off filing for bankruptcy because you believe that you must file with your spouse, a decision that could affect their finances as well as your own. Because of this, even couples who share everything, including responsibilities for buying groceries and… Read More

Farm bill extension is passed, with date for next standoff set at September 30

As part of the fiscal cliff negotiations that narrowly averted both political and economic disaster this week, the House of Representatives passed a temporary extension of the Farm Bill, designed to provide subsidies for agricultural workers. As part of the fiscal cliff negotiations that narrowly averted both political and economic disaster this week, the House of Representatives passed a temporary extension of the Farm Bill, designed to provide subsidies for agricultural workers. While dairy farmers in particular will benefit from the bill's extension, preventing vast numbers of them from the need to file for bankruptcy or suffer losses, the extension… Read More

What to expect at a 341 Minnesota bankruptcy hearing

If, after consulting with an experienced Minneapolis bankruptcy law office, you elect to file for Chapter 7 bankruptcy, you will be expected to attend a Section 341 hearing. If, after consulting with an experienced Minneapolis bankruptcy law office, you elect to file for Chapter 7 bankruptcy, you will be expected to attend a Section 341 hearing. This meeting is largely a formality but is legally required in order to resolve your Chapter 7 case. Also called a creditor's meeting, this hearing consists of a standard set of questions between you, your lawyer, the bankruptcy trustee (who is an attorney hired… Read More

Minnesota likely to join majority of states with lien stripping of second mortgages

At the end of last year, the Bankruptcy Appellate Panel reversed a lower court’s decision to bar the stripping of second and third mortgages from homes in Chapter 13 bankruptcy cases. At the end of last year, the Bankruptcy Appellate Panel reversed a lower court's decision to bar the stripping of second and third mortgages from homes in Chapter 13 bankruptcy cases. Following its decision, the mortgage industry appealed to the 8th Circuit Court, which heard arguments in the case this spring. While a decision has not been handed down as yet, many expert Twin Cities bankruptcy lawyers agree that… Read More

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