Creating a Financial Fitness Program

Behm Law Group helps Mankato area residents get their financial lives back into shape!

When was the last time you started a fitness program? We bet you had grand visions of a svelte body with toned muscles, at least for a few weeks. As soon as the habitual necessity becomes apparent to keep that body, the newness wears off. Instead of excitement, you anticipate the gym with dread. So you eye any fitness fad with desire. Maybe something new will be better. By now, Mankato, MN residents have determined physical fitness requires a regular regimen of discipline. Pick a sport, and stick with it. You will then secure the results you seek.

The bankruptcy attorneys at Behm Law Group, Ltd. want you to be aware of the financial fitness program. If Mankato residents don’t understand how they arrived at a state of bankruptcy, they won’t understand how to stay out of it. Just like physical fitness, financial fitness requires discipline. These are some steps we recommend:

1) Establish a budget for yourself and your family members. Let other family members participate in the process. They will be more apt to follow the rules everyone has agreed to, if they understand what those rules mean and why they were chosen.

2) Mankato, MN residents will be more likely to avoid bankruptcy by spending less than they earn. Sounds simple, yet with rising costs, this can be a real challenge for families. Discipline will be your friend.

3) Behm Law Group, Ltd. recommends you save some money for those unexpected circumstances, another fairly simple rule that can be harder to execute with limited funds and rising costs.

4) Mankato residents: beware of those credit and debit card offers! Choose wisely based on the lowest interest fees and the company with whom you’d prefer to do business. Plan to pay off any charges within the same statement period to avoid additional fees.

5) Although our attorneys can help you in the event of bankruptcy, we’d prefer you avoid it. Regularly monitor your bank and credit card statements to ferret out any fraud and incorrect charges. It might even behoove you to get ID theft protection.

Finally, Mankato: use that discipline to only purchase those items you need. Save the wants for when you are earning more money.

Even if you follow all of these steps, the bankruptcy attorneys at Behm Law Group, Ltd. realizes bad things happen to good people. Practice physical fitness to feel and to look your best. Practice sound financial fitness to achieve your best. If the weight of monetary burdens leave you financially weak, call upon Behm Law Group, Ltd. to help you whip your financial woes back to fiscal fitness.

401Ks and Bankruptcy in Mankato, Minnesota

Behm Law Group Explains the Connections Between Your Bankruptcy Filing and Your Retirement Account

What do 401Ks and bankruptcy have in common? A 401K is an asset. While bankruptcy itself is not considered to be an asset, the lawyers at Behm Law Group, Ltd. would make a case that bankruptcy planning might be. With employees having multiple jobs in their lifetimes, it is possible for an employee to leave the 401K with the previous employer. Over time, that 401K may simply disappear from the memory banks.

What happens if that previous company files for bankruptcy with your 401K in tow? It is possible Mankato residents will not be able to recoup that money. Did you know that even if you no longer work for a company, you can roll over the 401K to a different company of your choosing? By actively keeping abreast of a company’s financial health, you can ensure your 401K remains safe until you need it most. However, if bankruptcy looms, contact the bankruptcy attorneys at Behm Law Group, Ltd. for answers.

What happens if the company you are working for goes under? Is your 401K safe? Maybe not. Again, the bankruptcy lawyers at Behm Law Group, Ltd. would be happy to help the residents of Mankato and throughout Minnesota. Financial regulations change all the time. With so many demands on your time, it can be quite cumbersome to keep track of everything. As your financial landscape evolves, think ahead. Hope for the best, but plan for the worst. Mankato, MN residents can count on the bankruptcy attorneys at Behm Law Group, Ltd. to give them sound, friendly advice.

Behm Law Group, Ltd. wants the best for you. Ask us about your concerns. We will give you honest answers.

I Went Bankrupt: Now What?

Behm Law Group helps you recover and move forward after filing for bankruptcy in Mankato, MN

You can be your own worst enemy. Thinking about what you should have, could have, would have done can overwhelm Mankato, MN residents who have gone bankrupt. Simply kicking yourself or spinning negative thoughts will do more to hamper your forward momentum than anything else. As they say, you are what you think about. The bankruptcy attorneys at Behm Law Group, Ltd. suggest you change your paradigm.

Instead of spiraling downward, treat your bankruptcy as a puzzle problem. If you want to analyze the “whys,” we can help you sort the pieces into a sensible order. No blame is needed, only a determination to help yourself move forward. Finances got out of hand? Okay. Maybe learning how to create and follow a budget is in order. Your spouse spends too much? Maybe having separate checking accounts would work. Your child always wants the most expensive clothing? Perhaps saying “no” once in a while wouldn’t hurt either.

The point is, bankruptcy in Mankato, MN doesn’t signal the end, only another beginning. Your frame of mind is your number one asset you can use to improve your situation. The bankruptcy attorneys at Behm Law Group, Ltd. would be more than happy to discuss your opportunities. That’s right; if you allow yourself to think of possibilities, you can climb up and out.

We would be remiss if we led Mankato residents to believe no work would be involved. Let’s face it. If all the optimal choices and decisions were made, it’s likely bankruptcy wouldn’t have occurred. Therefore, some changes are due. Behm Law Group,  Ltd. can help you sort through the mass of information, so you can differentiate between the trivial and the important.

Nothing worth achieving is easy. If that were the case, you would have already mastered your predicament. So from now on, think of the present as a challenge. Mankato, MN residents have overcome other challenges. Let the bankruptcy attorneys at Behm Law Group Ltd. help you overcome bankruptcy. Let’s get going!

Murphy’s Law & Bankruptcy in Mankato, Minnesota

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.

Marriage Vows and Bankruptcy in Mankato, Minnesota

Behm Law Group provides prenuptial bankruptcy guidance and bankruptcy legal services for married couples in Mankato, MN.

What happens when “I do” leads to “I don’t?” Every person in love thinks a forever partner will be just that; forever. In fact, before the marriage, spouses-to-be are so giddy with the anticipation of a life filled with wonder and mutual admiration they often neglect to consider the “what ifs.” What if the marriage doesn’t work out? What if one or both of you lose a job? What if financial disaster strikes? How do we plan for these possibilities? When everything looks rosy, it can be difficult to think of bankruptcy in Mankato, Minnesota. Yet, Behm Law Group, Ltd. realizes this topic should be part of your plans.

With an uncertain economy, Mankato brides and grooms would be well-served to include the possibility of bankruptcy in their prenuptial agreement. Being positive and optimistic is wonderful, but doesn’t always cover the realities and surprises of life. A solid marriage and financial foundation includes the reality that unforeseen events can cause bankruptcy. Behm Law Group, Ltd. is well versed in all aspects of bankruptcy law and can inform you of the possibilities of succumbing to bankruptcy as well as how to get out of this quagmire.

Without a plan in the case of bankruptcy, Mankato spouses likely will experience a tremendous strain on their marriages. You both will already be frustrated. Frustrations will boil over into heated discussions with differing viewpoints. It would be easy to play the blame game. How does arguing solve your problem? The bankruptcy attorneys at Behm Law Group, Ltd. can bring the discussion back to a manageable, productive level.

We know bankruptcy in Mankato, MN is hard, but it’s only one part in a life consisting of a zillion parts. The bankruptcy attorneys at Behm Law Group, Ltd. care about you. You gave a forever oath to each other. That oath comprises all of life’s trials and turmoils, not just the ones you know how to manage.

The bankruptcy attorneys at Behm Law Group, Ltd. can help you navigate the uncharted waters of bankruptcy law.  Let us help you to help yourself and your marriage.

Bankruptcy and Children in Mankato, Minnesota

Behm Law Group Helps You Consider Your Child’s Future While Filing for Bankruptcy

Filing for bankruptcy in Mankato, Minnesota can be an intensely emotional experience; not just for you, but for your children as well. Everyone likes to feel like a winner. Children are no different in this regard. What happens when they go to school and overhear other students talk about their parents’ supposed problems? It would be easy to feel like an outsider at this point. The bankruptcy attorneys at Behm Law Group Ltd. understand more than just bankruptcy law. We know of your frustrations, doubts, and fear of the unknown. We are skilled in helping Mankato residents navigate the many issues of bankruptcy law.

It can be difficult to move forward with so many competing emotions dividing your family members. Bankruptcy does not have to be the end. It can simply be a new beginning. Think of a brighter tomorrow for you and your family. Then you will likely achieve it. The bankruptcy attorneys at Behm Law Group Ltd. sincerely want the best for Mankato residents.

Parents never want to be viewed as failures in their children’s eyes. The bankruptcy attorneys at Behm Law Group Ltd. empathize with you. We know how to handle delicate situations. Emotions of your children are just one consideration as you think about filing for bankruptcy.

Mankato residents may be wondering how bankruptcy would affect their children’s futures. Indeed, filing for bankruptcy could impact your children’s finances as well. Consult with the bankruptcy attorneys at Behm Law Group Ltd. to discover how you can secure your children’s finances while you deal with creditors.

Your children are just beginning their journeys in life. They need to realize that, sometimes, unfortunate circumstances happen. Behm Law Group Ltd. knows Mankato parents want to fulfill their obligations to protect their children to the best of their abilities.

For your bankruptcy filing issues, Mankato residents can feel comfortable contacting the bankruptcy attorneys at Behm Law Group Ltd. We care. We empathize. We deliver.

Bankruptcy Relief in Mankato, MN

Behm Law Group bankruptcy relief in Mankato, MN and the surrounding areas

When the IRS audits you, you defend yourself. When someone offends you, you defend yourself. When you make a mistake, you defend yourself. When someone doesn’t like your individuality, you defend yourself. Why should bankruptcy be any different? It’s highly unlikely you’ve had practice defending yourself in the legal arena of bankruptcy court. Let the bankruptcy attorneys at Behm Law Group, Ltd. handle your case, provide the required defense to your financial situation, and offer you bankruptcy relief.

You might think bankruptcy can cause trauma in individuals. You’d be correct. Sometimes businesses use it as a strategic ploy. Whatever the reason, Behm Law Group, Ltd. specializes in bankruptcy law in the Mankato area, surrounding communities and all of Southern Minnesota. We understand the nuances of bankruptcy law, and we work exceptionally hard for you toward a satisfactory resolution.

At least in most cases where there is a plaintiff and you are the defendant, you know what the specific accusation is. In the case of a Mankato bankruptcy, financial matters may have snowballed outside of your control. Perhaps economic conditions sideswiped you. It happens. The bankruptcy attorneys at Behm Law Group, Ltd. do not focus on you as the cause. Instead, we focus on a best resolution for you with your circumstances in mind.

The reason the highly trained and experienced attorneys at Behm Law Group, Ltd. have had so much practice in bankruptcy law is that you are not alone. Hundreds of people have filed for bankruptcy. We have helped them, and we can help you, too. We practice bankruptcy law, but we focus on people.

Mankato residents and those living in all of Southern Minnesota can expect nothing less than professional and confidential service. We at Behm Law Group, Ltd. take our servant role very seriously. You will come to us with anxiety; you will leave with relief. Call us right now!

The Wedding Blues: Bankruptcy and Divorce in Mankato, MN

Behm Law Group discusses the complicated relationship between divorce and bankruptcy filings

It’s estimated that 50 percent of marriages in America end in divorce. While that may seem staggering, it’s almost as staggering to realize 50 percent of marriages persevere.

Not surprisingly, some marriages carry on simply because the financial burdens associated with divorce are more unimaginable than the divorce itself. Considering financial problems are one of the biggest contributing factors to marital stress, it’s understandable why the additional stress of a divorce isn’t worth it to some people.

During a divorce, substantial, if not insurmountable, legal fees can be incurred on both sides. A once one household marriage becomes a two household divorce. Shouldering the burden of paying for a residence by oneself is difficult when you’ve been sharing costs. An additional residence can be an incredible additional expense.

If children are involved, the issue of providing child support can prove almost impossible to pay, depending on how many children there are and how much is expected in payment each month. If a parent simply can’t afford to pay child support, the other parent may not be able to make ends meet. It can be a financially precarious situation for both parents involved.

All of these costs associated with divorce may necessitate bankruptcy filing by one or both parties. It can be a very emotional, stressful, and seemingly impossible situation for everyone involved.

We at Behm Law Group, Ltd. are intimately aware of the emotions and despair that can go into a difficult divorce. We understand there are often no easy answers and that a bankruptcy filing can be a depressing reality during a divorce that’s already painful enough. We’ll work with you to get you through the bankruptcy experience with as little disruption to life and with as little stress as possible.

If you’re a resident of Mankato, MN or the surrounding communities, or anywhere in Southern MN and you’re seeking bankruptcy advice due to a divorce or other reason, call on Behm Law Group, Ltd. for assistance.

The Affordable Care Act and Bankruptcy

Behm Law Group explains the connections between Mankato, MN bankruptcy filings and the Affordable Care Act

As controversial as the Affordable Care Act (ACA) has been over the last, well, forever, it does try to address the growing need in this country for access to affordable healthcare.

Regrettably, the focus ended up being on health insurance rather than the skyrocketing costs of healthcare itself. So now here we are, arguing about whether people should be forced to pay a tax for something they may not want or need to use for years.

However, there’s still an underlying truth about healthcare in America, and it’s something that seems strangely neglected in all the reporting and opining about the ACA.

Namely, medical costs account for one of the most, if not THE most common reasons for bankruptcy filings in America today. Even under the best of circumstances or the most mundane of medical costs, the price tag can be staggering. In instances of serious emergency care, those costs can be absolutely ruinous.

Regrettably, these ruinous costs can be racked up even if somebody has some form of insurance, because not all insurance is alike. More affordable insurance plans, for example, can carry with them deductibles that are just plain impossible for some lower and even middle class families to meet. Even though they technically carry insurance, it’s insurance in name only.

This is one of the cited flaws of the ACA: while it mandates that all Americans must be insured—and even though there are many subsidies available—medical costs are still high enough that even those with insurance (which is to say EVERYONE), may not be able to meet the responsibilities of both their monthly premiums AND an eventual deductible in the event of a catastrophic injury or illness.

Time will tell if the kinks in the ACA will eventually be ironed out or the law is simply allowed to limp along in its current imperfect form. One thing seems certain though: bankruptcy filings due to medical costs is almost guaranteed to be a reality for thousands of Americans annually.

Behm Law Group, Ltd. has expertise in all aspects of personal bankruptcy law, including bankruptcy arising due to medical costs. We understand that bankruptcy is unavoidable in certain instances and we’ll help you navigate the law so you can focus on what’s important: you and your loved ones.

Our bankruptcy law professionals dutifully serve the residents of Mankato, MN and the surrounding communities, and all of Southern MN and we stand ready to assist you to navigate your unique bankruptcy situation. Give Behm Law Group, Ltd. a call today.

Mankato, MN Bankruptcy: The Basics

Behm Law Group, Ltd. provides assistance with Bankruptcy in Mankato, MN and surrounding communities

Under 11 U.S.C. §101(41), Bankruptcy can apply to debtors who are:

An individual, a partnership, or a corporation or other business entity

In plain English: ANYBODY. Yes, ANYBODY who has debt they can’t possibly repay can file for bankruptcy. BUT:

Under 11 U.S.C. § 109(g), an individual cannot file under chapter 7 or any other chapter, however, if during the preceding 180 days a prior bankruptcy petition was dismissed due to the debtor’s willful failure to appear before the court or comply with orders of the court, or the debtor voluntarily dismissed the previous case after creditors sought relief from the bankruptcy court to recover property upon which they hold liens.

TRANSLATED: If you filed for bankruptcy and didn’t show up for your bankruptcy hearing or didn’t follow court orders or if a creditor asked for relief from your bankruptcy case to repossess an asset and you, thereafter, asked that your bankruptcy case be dismissed, you can’t file for bankruptcy again for at least six months.

And:

Under 11 U.S.C. § 109(h), no individual may be a debtor under chapter 7 or any chapter of the Bankruptcy Code unless he or she has, within 180 days before the filing of the bankruptcy case, received credit counseling from an approved credit counseling agency either in an individual or group briefing.

TRANSLATED:

If you’re going to file for Chapter 7 bankruptcy or any other form of bankruptcy, plan ahead. If bankruptcy is in your future within the next six months, make a gesture of good will and attend credit counseling. You may find the counseling can’t help you remedy your current circumstances, but make the effort; it will help you in the future.

Filing for bankruptcy is a hard and difficult decision and bankruptcy is a highly nuanced and specialized area of the law.  To help you avoid any potential pitfalls and to get you through the process with peace of mind and with as little disruption to your life as possible, you should ask for help from someone who is educated, trained, and experienced in bankruptcy law. You shouldn’t try untangling bankruptcy law language on your own. Simple mistakes caused by a lack of knowledge can cost you a lot of money and time. Let professionals who understand the bankruptcy system make your case for you.

Behm Law Group, Ltd. has attorneys on hand who can help you make sense of bankruptcy. We have extensive experience serving the communities in and around the Mankato, MN, area and all of Southern Minnesota when it comes to bankruptcy. Call Behm Law Group, Ltd. today and let us help you regain your foothold on firm financial ground.