Behm Law Group, Bankruptcy Attorneys

Bankruptcy News & Recent Cases

Entries from January 2018

Getting Through the Holidays During Chapter 13 Bankruptcy in Redwood Falls, MN

January 30th, 2018 · No Comments

From October to January, national spending on holiday decorations, parties, and gifts increases by an average of $500 to $1,000 per person. This extra spending during the holidays is a luxury that many consumers may take for granted. Families living below the poverty line often struggle to make ends meet during the holiday season more […]

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Tags: Bankruptcy Information · Chapter 13 Bankruptcy

Filing for Bankruptcy in Mankato, MN, with an Income of $100,000

January 29th, 2018 · No Comments

Bankruptcy in the U.S. is designed to help those struggling to meet their financial obligations and debt payments each month. Because bankruptcy is generally linked with extreme financial circumstances, it’s a process that’s often associated with low incomes and financial destitution. There are many cases, however, when an individual has a high income yet still […]

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Tags: Bankruptcy

Filing for Bankruptcy in New Ulm, MN, as a Military Personnel or Veteran

January 22nd, 2018 · No Comments

All government employees, including military personnel, have the same rights to file for bankruptcy as any other citizen of the U.S. In some cases, members of the military and veterans even have additional benefits and options during the process of filing for bankruptcy than other citizens. Despite government pensions, salaries, benefits, and other financial support […]

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Tags: Bankruptcy · Bankruptcy in New Ulm · Bankruptcy Information

Cross-Collateralization and Bankruptcy in Jackson, MN

January 17th, 2018 · No Comments

If you are considering filing for bankruptcy, your debts will be categorized as those securing purchased properties (secured debts) and those that do not involve tangible property (unsecured debts). Your creditors will also be categorized similarly, depending on which type of debt you owe to each. In the case of debt owed to a bank […]

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Tags: Bankruptcy · Chapter 13 Bankruptcy · Chapter 7 Bankruptcy

Treatment of Your Annuity When You File for Bankruptcy in Mankato, MN

January 16th, 2018 · No Comments

When you file for bankruptcy, every aspect of your financial situation and all of your income and all of your debts are subject to review. Behm Law Group, Ltd. offers legal assistance and counsel in navigating the bankruptcy code for our community’s individuals and small businesses filing for bankruptcy in Mankato, MN. Changes to the […]

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Tags: Bankruptcy

The Role of a “Bankruptcy Estate” When Filing for Bankruptcy in Worthington, MN

January 5th, 2018 · No Comments

In every type of bankruptcy case, whether a Chapter 7 case or Chapter 13 case, a separate, distinct legal entity called the “bankruptcy estate” is created by operation of 11 U.S.C. §541 of the bankruptcy code.  This “bankruptcy estate” is in fact a separate, legal being from the person filing for bankruptcy relief.  When a […]

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Tags: Bankruptcy

Number Breakdown: Exemptions When Filing for Bankruptcy in Marshall, MN

January 3rd, 2018 · No Comments

Whether you choose to file for Chapter 7 or Chapter 13 bankruptcy, the properties you own and the debts you owe will be subject to the bankruptcy process. In the case of Chapter 7, this means your properties (assets) can be liquidated in order to repay your creditors’ claims unless you use your bankruptcy exemptions […]

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Tags: Chapter 13 Bankruptcy · Chapter 7 Bankruptcy