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Behm Law Group, Bankruptcy Attorneys

Bankruptcy News & Recent Cases

Avoiding Mistakes When Filing for Bankruptcy in Mankato, MN Behm Law Group offers Bankruptcy Advice

September 13th, 2016 · No Comments

Filing for bankruptcy may seem daunting and complicated, but with the right assistance and advice during the filing and discharging process, bankruptcy may be the best thing that has happened to you financially in a long time. U.S. Bankruptcy Courts don’t exist to belittle you, shame you, or leave you out to dry during the filing process. However, there are some occasions that may make it seem that way if you forego the expert legal help our attorneys at Behm Law Group, Ltd. can provide when filing for bankruptcy in Mankato MN.

There are several common, yet crucial, mistakes that debtors can make when filing for bankruptcy. Without legal assistance, you could be subject to making mistakes concerning these aspects of your financial situation during the filing process:

Settling Debt: If you have begun the filing process, you should avoid paying your unsecured creditors (creditors that do not have collateral) such as credit cards, medical debts and other debts that you do not wish to retain. These debts will be discharged in the bankruptcy. Continuing to pay them will neither improve your credit standing following the bankruptcy nor incentivize creditors to lend you credit. Paying on these debts is like “throwing good money after bad”. It will do absolutely nothing for you. Of course, you should continue to pay on secured debts (creditors that do have collateral), such as mortgage lenders and vehicle lenders, that you want to retain.

Retirement Funds: Because your creditors legally cannot touch your retirement account, you should not cash in your funds until the process is complete. You should never use your retirement money to “settle” your debts. By doing so, you are essentially wasting a financial “nest egg” that you have worked hard to establish that you can fully protect in bankruptcy.

Family Loans: Avoid paying off family loans or helping family and friends financially during or directly before the filing process. Your creditors and the bankruptcy trustee administering your bankruptcy case may bring a lawsuit against your family and friends to recover the money you paid them.

Property: Hold all your current property in your name during the bankruptcy process. DO NOT transfer property out of your name. If you do transfer assets out of your name, you will most assuredly lose the property you transferred.

Lawsuits: Because pending lawsuits or lawsuits against you will continue until your bankruptcy is filed, you should not ignore these suits. Our attorneys can help advise you on lawsuits and determine whether or not you should respond before a bankruptcy is filed.

Purchases: Making large purchases on your credit cards or cash advances in other forms is a frequent mistake made during the filing process. Wait until the process is complete to ensure you won’t still be accountable for these charges.

The professional attorneys at Behm Law Group, Ltd. are here to keep you from making these common mistakes and other important missteps when it comes to filing for bankruptcy in Mankato, MN. For more information, contact us at (507) 387-7200.

 

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The Cause of the Gawker Bankruptcy in the St. Peter, Minnesota Area

June 27th, 2016 · No Comments

In the St. Peter, Minnesota area and across the United States, people have access to all kinds of celebrity gossip. Whether it’s your grandma snagging a magazine next to the checkout or your little brother Googling information about the latest famous downfall, we have nearly unlimited access to gossip about the rich and famous.

Recently, however, this access to information has become a bit of an issue for some stars. A celebrity gossip source known as “Gawker” recently filed or bankruptcy as a result of a suit against Hulk Hogan. Here’s all you need to know about the case that led Gawker to file for Chapter 11 bankruptcy:

  • Illicit Publications: Gawker recently published a private video of Hulk Hogan against his wishes. The content of this video was somewhat explicit, making Hogan seek legal action against the celebrity gossip site. Little did Gawker know, this suit would eventually lead to a bankruptcy filing.
  • Private Funding: Hogan was able to pay for this long, arduous lawsuit because Peter Thiel privately funded Hogan’s actions. Thiel is a major player in Silicon Valley, making his funds nearly endless for the purpose of Hogan’s suit.
  • Controversy: In the midst of this suit, there has been controversy amongst journalists. Some have argued that Hogan’s suit violates freedom of press and feel frustrated that Gawker had to file for bankruptcy. Others question Gawker’s news reporting, whether it relates to Hogan or other famous folks.

Expensive lawsuits can lead to bankruptcy in the St. Peter, Minnesota area and in the world of the rich and famous. If you find yourself in expensive legal trouble and you need the assistance of a professional regarding bankruptcy, we’re here to help. Contact the professionals at Behm Law Group Ltd. today!

 

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How Do You Insure Against Bankruptcy in the Mankato Area?

June 10th, 2015 · No Comments

Recently, an Amtrak train derailed in Philadelphia. It was reportedly going twice the posted speed limit around a curve. Several people were injured. The driver reportedly couldn’t remember anything. If you owned Amtrak, what would you do? Would your insurance cover any potential lawsuits? Maybe you’re not concerned in the Mankato, MN area because you don’t think any comparable accident would happen here. But then again, if it did, you’d want to contact Behm Law Group, Ltd., the bankruptcy specialist attorneys.

Whether it’s a train accident or some other accident, sometimes there’s negligence involved, sometimes not. You hope your insurance would cover any calamities. But, does it? the insurance limit you choose can be a matter of speculation. How do you know when you’ve reached a sufficient amount? You can talk to your insurance agent about that.

If you’re wondering about any potential liability on your part, include the bankruptcy attorneys at Behm Law Group, Ltd. in your discussion. Because, if a catastrophic accident does occur, it would be helpful to know your options before disaster strikes. Afterward, you’ll be overcome with emotion and not as likely to be able to deal with the situation logically.

While Mankato, Albert Lea, and Owatonna are smaller communities, even a small accident could become catastrophic for a business. As your business evolves, consider updating the insurance requirements.

Instruct your employees in proper safety procedures. Make sure they have adequate rest, especially if they work in a critical area. Have a regular maintenance check-up schedule for your equipment.

If you’ve covered all the aspects of safety first, that will work to your advantage later on if you ever do have a serious accident. If you find yourself contemplating filing for bankruptcy, consult with the bankruptcy attorneys at Behm Law Group, Ltd. to discuss your options.

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Can Intentional Sabotage Cause Bankruptcy Around Mankato, Minnesota?

April 21st, 2015 · No Comments

Over the past few weeks we have been bombarded with news stories regarding the Germanwings co-pilot who deliberately crashed a plane directly into the French Alps. An unimaginable, unspeakable act–yes. Yet, we need to talk about it. Certainly, the parent company of Germanwings, Lufthansa, never dreamed this could happen. There is speculation Lufthansa may not be able to survive the anticipated lawsuits of the 150 passengers who perished.

Can intentional sabotage of your business or home cause bankruptcy? The short answer is yes, it could. However, there are many factors to consider. What does your insurance cover? How carefully do you screen your employees? How carefully do you screen your visitors? What is the wording in your business contracts? These reflect some of the considerations.

We aren’t advocating paranoia in southern Minnesota. Far from it. We only want you to take a closer look at your situation. If you employ some common-sense strategies, it’s likely you could minimize your exposure to risk.

For instance, given the current craziness in the world today, how likely is it that you could be subjected to sabotage? People wanting to make a horrific statement seem to choose some businesses more frequently. Is your business one of those?

Do you have a thorough vetting process for your employees, or do you sacrifice safety because you choose not to spend the time? What about your conflict resolution skills? Do employees harbor resentment because they don’t believe they’ve been heard? How difficult is it for you to incorporate needed change?

Do you have a procedure to handle visitors? Or do they roam around unattended with everyone assuming they have a right to be there?

The answers to these questions will be different depending on your business and your locale. While the bankruptcy attorneys at Behm Law Group, Ltd. don’t pretend to know your business better than you do, we could certainly help you in determining what your risk of bankruptcy would be in the event of intentional sabotage.

Behm Law Group, Ltd. specializes specifically in bankruptcy and can answer all of your bankruptcy questions in St. Peter, New Ulm, Mankato, Fairmont, Albert Lea, RedwoodFalls, Worthington, Marshall, Waseca and Owatonna, MN.

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Murphy’s Law & Bankruptcy in Mankato, Minnesota

August 22nd, 2014 · No Comments

Behm Law Group can provide you with bankruptcy legal assistance when everything else is going wrong.

Mr. and Mrs. Mankato Minnesota bought their dream house one day with money they earned from their dream jobs. A few years later, they had two dream children. They saved and saved for their children’s college education and for their retirement. Sounds like the American dream, doesn’t it? Behm Law Group Ltd. has heard of many good intentions and practices through the years.

One day, the company Mr. Mankato Minnesota worked for lost an accident lawsuit against them. With the need to cut expenses to lessen the sudden financial burden, the company decided to downsize and outsource jobs. And that day Mr. Mankato Minnesota was fired from his dream job, losing his income, benefits, and a bit of his dignity. What a nightmare!

With the current slow economy and only one paycheck, things started to get tight financially. Because of the stress at home, the children started bickering. Eventually, their grades declined. Murphy’s Law continued to work its magic until finally Mr. and Mrs. Mankato Minnesota had to file for bankruptcy. The bankruptcy attorneys at Behm Law Group Ltd. want to help you fight against Murphy’s Law with expert bankruptcy law advice.

In order to do that, you need to call us. First, things usually are never as bad as they seem. Second, there is more than one type of bankruptcy to consider. Third, you won’t be able to progress very far if you don’t help yourself. You do that by letting Behm Law Group Ltd. help you. There’s really nothing to fear but the unknown. Our bankruptcy attorneys can give Mankato, MN residents a practical perspective complete with the necessary steps to thwart Murphy’s Law.

Behm Law Group Ltd. obviously can’t guarantee everything will always be rosy for you. No one can ensure that. Our bankruptcy attorneys can, however, put Mankato residents in the right frame of mind to deal with their situations sensibly. First, we do that by listening. Second, we ask questions to find out what your expectations and goals are. Third, we empathize. Fourth, we strategize with you to achieve the best possible results for your situation.

The bankruptcy attorneys at Behm Law Group Ltd. hope that in the future, Murphy’s Law in Mankato, MN will only mean you put on mismatched socks. We know you care. So do we. Call us.

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Sometimes Bad Things Happen to Good People

May 18th, 2012 · No Comments

Few things in life can be as embarrassing as having to admit that you need to declare bankruptcy.  Maybe you associate bankruptcy with some sort of failure: be it a financial or even moral failure.

However, there are many things that can lead to bankruptcy that are not your fault such as a job loss, mounting medical bills, a lawsuit, or other types of financial hardship.

And even if you feel like it is your fault, our experience is that there are many things out of your financial control that may have led to your need to declare bankruptcy.  Many good people have had to declare bankruptcy, and declaring bankruptcy doesn’t make you a bad person.

If you are in a position where you have to declare bankruptcy, the best way to look at it, is a means to getting a fresh start in controlling and rebuilding your financial life.  It is a legal process by which you can get relief from overwhelming bills and start to rebuild your finances again.

However, bankruptcy is not something to enter into lightly.  It can be complex, and there are consequences you need to know about.  That’s why you need an experienced bankruptcy lawyer who can lead you through the maze of legal requirements you will need to navigate regarding bankruptcy law.

At the Behm Law Group, located in Mankato, Minnesota, we pride ourselves on our extensive experience and expertise in bankruptcy law and limit our practice to bankruptcy cases only.

We know that sometimes bad things happen to good people, and we’ll treat your case with privacy and respect.  We will work at your side to achieve the legal relief your case demands in order to help you attain a new and fresh start.

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