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.

If Detroit Can Do It, So Can You | Mankato, MN Bankruptcy

Behm Law Group, Ltd. provides bankruptcy attorneys in Mankato, MN and surrounding areas

Late in May, the City of Detroit made the case for its bankruptcy restructuring plan via a court filing, an event made all the more surreal since Detroit is the only United States city to ever file for bankruptcy protection. As bankruptcy law goes, it doesn’t get much bigger, or unusual, than this.

Just consider that the city argued it has the legal justification to transfer ownership of the Detroit Institute of Arts to a third-party non-profit organization. That’s right; a city is in jeopardy of losing a museum due to bankruptcy. Most individuals have to worry about losing a vehicle through bankruptcy, but the City of Detroit is trying to figure out a way to keep its museum intact. Talk about pressure.

Or, consider that the City of Detroit has been arguing that its pension annuity payments are “excessive” and those excessive pension distributions are tantamount to a Ponzi scheme. It takes a certain astonishing level of systemic financial mismanagement to refer to your city’s own pension system as a Ponzi scheme.

Not surprisingly, the City of Detroit is facing considerable pushback as it makes its legal case for the justifications surrounding its bankruptcy filing, but it should prove fascinating to watch as it unfolds.

Thankfully, individual bankruptcy filings don’t entail nearly the same seemingly impossible legal hurdles the City of Detroit faces, although individual bankruptcies can be incredibly daunting in their own right.

While chances are you won’t be trying to save your own personal museum from being liquidated to appease creditors, you will want to protect some of the most personally meaningful items and property, and that’s incredibly important to you.

Behm Law Group  understands how stressful individual bankruptcy can be, and we’ll work to ensure your bankruptcy journey is as smooth and efficient as the law allows. Our professional and knowledgeable bankruptcy attorneys have helped countless clients just like you to navigate the incredibly confusing bankruptcy landscape.

You don’t have to, and shouldn’t, go through a bankruptcy ordeal on your own. If you reside in Mankato, MN or anywhere in Southern Minnesota, and you require bankruptcy guidance, contact Behm Law Group today. We’ll be alongside you every step of the way to successfully guide you through this complicated process.

And, if you do happen to have a museum you’d like to hold on to, we’ll see what we can do about that, too.

Let Behm Law Group Help You with Bankruptcy Problems in Mankato, MN

Behm Law Group | Bankruptcy Attorneys in Mankato, MN

You never know when you will be faced with navigating the maze of bankruptcy laws.  All it takes is for one very expensive medical bill to give you a financial headache.  We recommend you contact the best bankruptcy attorneys in Mankato, Minnesota, Behm Law Group Ltd., to ease the pressure.

Have you ever wondered how the term bankruptcy originated?  The exact origin is a bit unclear.  Perhaps it was derived from banco rotto, or “broken bank” in Italian.  In Medieval Italy, bankers transacted their business on benches.  When one could no longer lend or fulfill commitments, the bench was broken to display the banker’s inability to continue negotiating.

The bankruptcy attorneys at Behm Law Group want to help you from sliding into a morass of financial ruin, and we won’t use scare tactics.  We are honest, yet concerned and friendly, and are glad to answer any questions you may have. Behm Law Group specializes in bankruptcy law, whether it’s Chapter 7 or Chapter 13.  We are willing to meet with you when it’s convenient for you:  evenings, weekends, or at your home.

Instead of endlessly worrying, contact Behm Law Group.  The issues surrounding bankruptcy law can be complex.  We can simplify it for you, so you can better understand what your options are.

Whether you are accumulating massive medical debt, credit card debt, or other unforeseen expenses, call the bankruptcy attorneys at Behm Law Group in Mankato, Minnesota, to see how you can best resolve your dilemma.

 

How Natural Disasters Influence Bankruptcy Claims in Mankato, MN

Filing for Bankruptcy in Minnesota | Tips from Behm Law Group, Ltd.

Since Hurricane Katrina, there have been changes and adjustments to bankruptcy laws. This is especially important for people that have been the victim of a natural disaster and lost all of their possessions and potentially their income. With the recent tornadoes and weather events in the South, Behm Law Group, Ltd. wanted to revisit the nuances of bankruptcy for disaster victims.

When an enormous weather event, such as Hurricane Katrina, strikes, the government may relax some of the laws associated with bankruptcy. In the instance of Katrina, the strict rules of Chapter 7 bankruptcy were relaxed to take into account the increased expenses and loss of property and income that disaster victims and their families experienced. Chapter 7 bankruptcy allows for debts to be completely erased. If the looser rules were not put into place after such large events, some families with higher income than the state’s median may have to repay their debt over a five year period.

Of course, these exceptions are due to extreme cases, like natural disasters and other events that impact an entire geographic area. It is still applicable to residents of Minnesota that sometimes experience tornadoes and flooding statewide.

To help you navigate the intricacies of bankruptcy law, call Behm Law Group, Ltd, your local bankruptcy attorneys based in Mankato, Minnesota. Filing for bankruptcy, whether Chapter 7 or Chapter 13 is never an easy decision, and it certainly isn’t a simple process. We are here to help you through the hardest times in your life, whether they are naturally occurring or caused by a natural disaster.

Bankruptcy and Your Credit Score

How does bankruptcy affect your credit score? Behm Law Group Ltd. explains.

It should go without saying that filing for bankruptcy can carry with it certain consequences. While bankruptcy protections are in place to relieve many of the burdens of crushing, intolerable debt, filing for bankruptcy can impact your life in many ways over the next several years.

Perhaps most notably is the impact bankruptcy will have on your credit score. Following a bankruptcy, it’s still possible to obtain credit cards and loans. However, creditors will sometimes ask that you have a co-signer (someone with good credit who will assume responsibility for the debt with you). People who file bankruptcy will have the bankruptcy reflected on their credit histories anywhere from 1 to 7 years, irrespective of whether one files a chapter 13 bankruptcy or a chapter 7 bankruptcy. Both types of bankruptcy will reflect the same on credit histories. Sometimes people who have filed for bankruptcy relief or who have gone through a foreclosure will have to wait 3 years after the bankruptcy or foreclosure to qualify for a home mortgage through Freddie Mac or Fannie Mae.

While bankruptcy can negatively impact your credit history—which may not have been too great to begin with—you can start to repair your credit history almost as soon as you complete your bankruptcy process. Be sure to accurately and honestly reflect your bankruptcy situation. Potential creditors will want that information noted up-front so they can assess your credit risk. To most creditors, a bankruptcy filing simply represents a point in time. To them, the time predating the bankruptcy filing represents a time full of economic chaos and incredible financial uncertainty. The time after a bankruptcy filing represents financial order and economic balance. Most creditors will work with you following a bankruptcy because they know that they will not have to compete with pre-existing bankruptcy creditors for your payments because those creditors will have been discharged; they know that they will be first in line. Also, they will know that you will not be able to file for bankruptcy relief again for several years. They know that they could pursue collection action against you for several years if you do not pay them.

Unsecured credit after bankruptcy can be obtained. However, to improve your credit, you should look to secured credit, if possible, by placing money in the bank that’s equal to or more than the credit limit you’re looking to secure. Putting money away for a secured loan or credit can be challenging, particularly following bankruptcy, but the goal is to repair your credit history as much as possible and getting a secured line of credit is a good way to do it.

Any student loans you have will likely not be discharged through bankruptcy, so those debts will remain and they can be a ticking time bomb to your credit history if they go unpaid. Pay them on time, and pay over the minimum payment when possible, because that will likewise improve your damaged credit history.

There are companies that specialize in repairing credit history and credit scores, but they can be very expensive, and they’re not all reputable. In fact, some even engage other people who voluntarily allow the companies to “ghost” credit histories. The companies do not engage in identity theft. However, some people with good credit will, for a fee, allow credit repair companies to use their good credit standings and “ghost” those good credit standings for people with poor credit histories. Do your research before approaching a credit repair outfit but the best course may be to just stay away from them.

The bankruptcy attorneys at Behm Law Group Ltd. are experts at advising how best to rebuild your credit history following bankruptcy, and we’re happy to guide you accordingly. If you’re facing a bankruptcy situation of your own, Behm Law Group Ltd. can provide expertise in guiding you through the process and explaining what you can expect following filing for bankruptcy. We proudly serve Mankato, MN, and all of Southern Minnesota. We stand ready to help you through your stressful financial ordeal. Give Behm Law Group Ltd. a call today!

Coming to Terms with Personal Bankruptcy

Behm Law Bankruptcy Law Firm in Mankato, MN

Bankruptcy is a difficult decision to come to terms with. Bankruptcy carries a stigma that permeates our culture, and this is particularly true when it comes to personal bankruptcy.

Whereas business bankruptcy is almost considered an expected risk that could very well come to pass—although it’s still best to be avoided—personal bankruptcy is usually accompanied by a deep feeling of personal failure.

It shouldn’t be that way.

While bankruptcy isn’t something people should aspire to, it’s far more common than most people think. Just in 2013, for example, a combined total of 1.03 million businesses and individuals filed for bankruptcy.

In an economy that’s been charitably referred to as “recovering” since 2009, bankruptcy is a specter that continues to hang over the heads of people and businesses that manage to barely squeak by month to month. And bankruptcy is nothing to be ashamed of.

In fact, personal bankruptcy can be seen as a way to start over, even though starting over after bankruptcy can be, admittedly, difficult. There’s a reason it’s typically referred to as “bankruptcy protection.”

However, bankruptcy—for individuals or businesses—can be made far less difficult if the bankruptcy details are handled by an informed, knowledgeable and professional third party. Behm Law Group Ltd. possesses exactly the professional third party bankruptcy protection experts you can count on to navigate your unique bankruptcy situation, and each situation is almost always unique.

Bankruptcy filing can be stressful even in the best of circumstances, and the best bankruptcy circumstances aren’t all that great to begin with. Being able to rely on bankruptcy attorneys who have vast experience with bankruptcy protection can drastically reduce the stresses and heartache that all-too-often are associated with bankruptcy filing.

If you’re in Mankato, MN, or any of the surrounding communities or anywhere in Southern Minnesota, contact Behm Law Group Ltd. right away and start your journey through bankruptcy protection with a team of experienced and seasoned professionals at your side.