Helpful Bankruptcy Information

Written By: Wesley W. Scott

MN Bankruptcy Lawyer Since 1972


Sep 23, 2018
Section 301(a) of the Bankruptcy Codes states that a voluntary Chapter 7 Bankruptcy is commenced with the filing of a petition with the bankruptcy court. A petition, simply put, is a formal written request, signed by you, appealing to the bank…
Sep 22, 2018
I am not sure everyone understands the role of a paralegal. Paralegals are not licensed lawyers. They cannot give you legal advice, sign you up, or even quote you a fee without violating state law and many ethical rules.
Sep 21, 2018
We have blogged on this topic before. The general consensus in the Bankruptcy Code favors discharging unsecured debt. However, there are reasons why creditors can object to you discharging a debt with them and they are contained in Section 523…
Sep 20, 2018
We have already discussed how the code defines preferences both to general unsecured creditors and insider creditors, but what are the common defenses to a preference? We will cover that in this blog but first, let’s refresh our memories and m…
Sep 19, 2018
Unless you have filed a Chapter 7 Bankruptcy and had non-exempt assets trustee sells and uses to pay creditors, you may never have wondered about this question. Why would you? I mean you have a life and you don’t worry about these things- but …
Sep 18, 2018
You file a Chapter 7 Bankruptcy right? You know going into it that you made a preferential payment of 7k to your dad, no surprise there. Your local bankruptcy lawyer has prepped your case well. But, it dawns on you, what happens to the money t…
Sep 17, 2018
Section 554 of the Bankruptcy Code outlines a Chapter 7 trustee’s right to abandon assets in a Chapter 7 Bankruptcy case. There are one of two ways an asset gets “abandoned” in a Chapter 7 Bankruptcy case. First, trustee files a notice of aban…
Sep 16, 2018
Bankruptcy Rule 4003(a) requires debtors to disclose assets debtor claims to be exempt. Pursuant to Bankruptcy Rule 4003(b) Chapter 7 trustees have 30 days after the meeting of creditors or whenever an amendment has been filed to the exemption…
Sep 15, 2018
With most unsecured debts in Chapter 7 Bankruptcy, there is a presumption in favor of discharging the debt in bankruptcy. The presumption in favor of discharging the debt in Chapter 7 Bankruptcy goes against the back drop of a creditor’s right…
Sep 14, 2018
Section 548 of the Bankruptcy Code addresses fraudulent transfers. The look back period is 2 years. If, within 2 years before you filed your Chapter 7 Bankruptcy case, you gave or transferred any asset to anyone else for less than fair market …