FILING A CHAPTER 7 BANKRUPTCY IN MN With Kain & Scott
We are not going to kid you, we like the easy button. Most people do. Why on earth would you make something difficult if it doesn’t have to be? Having overwhelming debt is painful enough, our guests would prefer the actual process of filing bankruptcy be easier, not more complex.
At Kain & Scott, our MN Bankruptcy Lawyers have been doing bankruptcies since 1972. Over the course of many decades we have perfected the process of filing bankruptcy so our guests are more comfortable. We have developed a unique process of filing bankruptcy in Minnesota that makes it easier on the client- we call it the KainScott way. The KainScott way results in the client spending more time with their family and friends and relaxing while we do most of the work. Sound good to you? Our guests think so!
KAINSCOTT’S PROVEN PROCESS OF FILING CHAPTER 7 BANKRUPTCY
It is common for our guests to feel overwhelmed, stressed out, and discouraged. At Kain & Scott, we honor that courage and anxiety by making the process of filing bankruptcy more soothing to our guest.
STEP 1: THE CONSULTATION
The first step is always the biggest. When you are ready, or the time is right, reach out to us and set up an initial consultation with one of our MN Bankruptcy Lawyers. It’s free and there is no obligation to meet with us. Our intake specialist has a caretaker heart, so you will be in good hands the moment you call, text, e-mail or just stop in to see us!
Our guests come from all across the state of Minnesota. Currently, we have offices in Brainerd, St. Cloud, Maple Grove, Eden Prairie, Roseville, Eagan, Minneapolis and Woodbury. We can conduct your consultation-
1) in person;
2) via skype;
3) facetime (I-phone);
4) via telephone
Our promise to our clients is “we don’t judge you, we HELP you get your life back!”
Most of our clients are sick and tired of overwhelming debt and need to understand their options clearly and thoroughly. The consultation with Kain & Scott is designed to be very comprehensive so that when you leave you understand all your options for solving a debt problem.
You are not alone. We have helped over 7,000 Minnesotans get their lives back, and we can help you too!
But we know going into this you lack courage and suffer high anxiety and that is why we honor your ability to overcome your anxiety and take that first step.
STEP 2: REVIEW AND SIGN APPOINTMENT
Many of our guests at the consultation decide that filing bankruptcy and starting fresh makes sense for themselves and their family. If our guests make that decisions, we then sign them up for a Chapter 7 Bankruptcy. At the sign up, we will clearly walk you through the process and explain what documents are needed for you to file a Chapter 7 Bankruptcy in Minnesota.
The last thing we do at the sign up is schedule you for a review and sign appointment. The appointment lasts two hours. At this meeting, you will have brought documents for us so that we can fill in the missing pieces of information to make your chapter 7 schedules complete.
The first hour of the appointment you will meet with one of our kind and helpful assistants. They will help you fill in much of the information we need to file the Chapter 7 Bankruptcy. The second hour is spent meeting with your MN Bankruptcy Lawyer, your rock, to make sure the information is true, correct, and complete.
Your Bankruptcy Lawyer will answer all your questions and explain the next steps to you so that you can understand the process. Everyone signs the documents and the petition and schedules are filed with the bankruptcy court.
At Kain & Scott, we are electronically certified, so you petition is filed with the court instantly. Once you have filed the bankruptcy, you garner instant relief from your creditors. When you are not with us, we are working behind the scenes to answer your creditor’s phone calls and calls from the bankruptcy court.
Once you have filed the bankruptcy, you can relax, and we do most of the work for you. If you need us, in any way, we want you to call us. We work for you!
STEP 3: 341 MEETING
Once filed, the bankruptcy court schedules a 341 meeting, also known as a first meeting of creditors. I am not sure why they call it a first meeting of creditors because there is not a second. I am not sure why they call it a meeting of creditors because most creditors do not show up! Seriously - it is very rare for creditors to show up to your meeting!
The creditors that do show up often just want to know where their collateral is at, is it in good shape, and do you intend to keep paying on the loan to keep the collateral. However, even that is a rarity.
Once we have filed your bankruptcy petition and schedules with the court, the bankruptcy court mails notice of a 341 meeting to you and your creditors. The meeting typically takes place 4-6 weeks after you file bankruptcy.
We make sure you have plenty of notice of the meeting so you can tell your school or employer well in advance. The meeting itself takes a whopping 5-10 minutes. The meeting is where a chapter 7 trustee (a lawyer appointed by the US TRUSTEE’s Office to act as a chapter 7 panel trustee) asks you to verify the information on the petition and schedules is true, correct, and complete.
Your Kain & Scott Lawyer is with you at this meeting, and every step of the way. If you have questions for your lawyer before the meeting, ask away. If you have questions after the meeting- ask away!
We typically attend bankruptcy hearings multiple times in a single week all over the state of Minnesota. It never fails; our guests leave the hearing and say that hearing was no big deal. There is serenity in the truth. Here are my assets and here are my debts. This is the only hearing you must attend.
STEP 4: DISCHARGE
Because of your courage and our help, you get your life back! About 60 days after your 341 meeting, the court mails you and us a notice of your discharge. A discharge means that your liability on the debts is cleared, wiped out, or eliminated; however you want to put it, it’s gone.
Not only is your liability on the debt gone, the debt is wiped out tax free! Debts that are forgiven as a result of a title 11 bankruptcy (which chapter 7 falls into) are not considered income for tax purposes. If it were considered income, we would have a lot of guests with another problem- a tax problem!
CONTACT A MN BANKRUPTCY LAWYER
Many of our guests find the decision to discuss bankruptcy agonizing and riddled with a lot of anxiety. At Kain & Scott, we honor our guests courage and anxiety by making the process of Filing Chapter 7 Bankruptcy more soothing and comforting for the client.
The KainScott proven process of filing a Chapter 7 Bankruptcy in Minnesota is just that- it’s soothing for our guests- we do most of the work, you relax! Contact one of our numerous Minnesota locations near you today and let us help you get started on the road to debt freedom!