Who Files for Bankruptcy in Mankato, MN?

Behm Law Group explains that anyone could find themselves in need of a bankruptcy attorney.

Let’s explore what type of Mankato, MN resident is most likely to file for bankruptcy. What if we told you the person could be short or tall, male or female, rich or poor, or even hard-working? Maybe this person has a lot of debt. Maybe not. The bankruptcy attorneys at Behm Law Group, Ltd. want you to realize that at a given point in time, that person could be you.

Certainly, poor financial habits can play a part in this scenario. Maybe people spend money they don’t have. Maybe Mankato residents could avoid bankruptcy simply by saving more. But, that’s a simplistic answer. Costs are rising faster than wages in most cases. People are living longer. In this uncertain economy, it can be difficult to predict how much money you and your family will need for future medical expenses and for retirement. The point is, Behm Law Group, Ltd. knows unforeseen circumstances can play a much larger role in determining which Mankato resident has to file for bankruptcy.

Natural disasters, layoffs, unexpected family changes, and unforeseen governmental policy decisions all contribute to the likelihood of bankruptcy for Mankato, MN citizens. You can punt, jab, swerve, and maneuver around it for only so long. In the end, if the money does not come in to cover your expenses, serious decisions need to be made. Consult the attorneys at Behm Law Group, Ltd. to help you navigate this troubling terrain.

Bankruptcy can be emotionally devastating. Know that others have been there, and they have survived. Bankruptcy does not necessarily latch on to a certain type of person. Unforeseen circumstances do not guarantee you will be knocking on that door either. Behm Law Group, Ltd. knows it is a possibility – for anyone. If bankruptcy seems likely for you in Mankato, give us a call. We can help you with the services you need and the dignity you deserve.

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!

Beware Fraudulent Transfers | Bankruptcy Law Tips

Minnesota Bankruptcy Lawyers at Behm Law Group Ltd.

If you wish to keep your friends and family members in your good graces, don’t attempt to transfer property to them if you anticipate filing for bankruptcy within the next two years and they don’t pay you a reasonable market value for the property. Embarking on such a path may be considered fraudulent and could result in your friends or relatives being sued to give up that undervalued property. They’d be out whatever money they paid you plus the property they thought was theirs.

According to 11 U.S.C. Sec. 548, a bankruptcy trustee can sue individuals who purchased property, such as a vehicle, from the debtor who received substantially less than equivalent return value. Therefore, if a debtor sold a vehicle or similar property worth, say, $15,000, to a friend or family member, but only received $3,000 in compensation, and that transfer took place within two years before the debtor filed bankruptcy, the trustee could sue to reclaim that property in order to sell it for a more accurate market value. The trustee would then take that increased capital and distribute it evenly among the debtor’s affected creditors.

To avoid this potentially embarrassing fraudulent transfer situation, make sure you enter into financial agreements with friends or relatives by asking for a reasonable market value. This is especially important if you’re selling property when you’re under extreme financial duress that could lead to a bankruptcy filing in the near future.

The Bankruptcy Code can be extremely difficult to understand, especially when delving into the more arcane language and clauses that are best left to bankruptcy law professionals. Behm Law Group Ltd. serves Mankato, MN, and surrounding communities, and our bankruptcy expertise is at your disposal to help you successfully emerge from the stressful experience of filing for bankruptcy protection.

To better navigate this somewhat obscure bankruptcy side road, our professional team of bankruptcy attorneys at Behm Law Group Ltd. is available to assist and advise you. Contact Behm Law Group Ltd. today and begin your personal journey out of debt.

Minnesota Bankruptcy Advice- Are Student Loans Eligible for Discharge?

Tips from Minnesota Bankruptcy Attorneys- Behm Law Group

Student loans are generally understood to be “exempt” when it comes to bankruptcy protection. If you have student loans, you are required to pay them back in full, and the federal government has put rules into place to ensure that debt is collected. There are provisions that can help ease student loan debt, but the burden of proof is on you to prove you are in a position that makes it practically impossible for your to pay your loan. Filing for bankruptcy in Minnesota is a viable option. The Minnesota bankruptcy attorneys at Behm Law Group offer advice on how to navigate these tricky waters.

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Student loan debt is a huge concern nationwide. As college tuition continues to skyrocket, hundreds of thousands of graduates and perhaps their parents are saddled with debilitating student loan debt that can equal or exceed the price of most starter home mortgages. Private and federal student loan debt exceeded credit card debt in 2010, hit the $1 trillion mark in 2011, and as of this year stands at $1.2 trillion dollars. Meanwhile the economy is struggling to regain past employment levels and starting wages are generally lower, leaving college graduates with burdensome debt and little opportunity to get back on track.

Up until 1976 all education loans could be discharged through bankruptcy. That year the bankruptcy code was changed which disallowed college or government loans to be discharged during the first five years of repayment. After five years of payment the loans could be discharged though bankruptcy or if “undue hardship” was being experienced by the borrower. In 2005 Congress passed the Bankruptcy Abuse Prevention and Consumer Protection Act which gave further protections to student loans, both federal and private, from bankruptcy protection.  The only “door” left open for bankruptcy protection was if the borrower could demonstrate to the court that repayment of the student loan would cause an “undue hardship.”

Undue hardship can be exceptionally difficult to prove. Just the simple fact that you don’t have the funds available to pay your loan generally does not qualify as undue hardship.

Navigating through this complicated legal landscape is something best left to a professional bankruptcy attorney. Though full bankruptcy protection is still far from an attainable goal regarding most student loan debt, legal avenues do exist for at least a partial discharge of the overall debilitating debt burden that’s all too common for today’s college graduates.

Behm Law Group, Ltd. employs a professional team of bankruptcy attorneys who can help you through the daunting legal world of bankruptcy protection. With our years of dedicated training in the field of bankruptcy we can advise you about your student loan debt options and whether or not you meet the demanding criteria for having your student loans discharged through bankruptcy.

Serving Mankato, MN, and surrounding areas, Behm Law Group, Ltd. is available to help clients maneuver their way through financial difficulty and avoid the stress and uncertainty of unnecessary, burdensome debt. Contact Behm Law Group, Ltd. to discuss your bankruptcy options.

They Are Not on Your Side- Credit Cards Can Lead to Bankruptcy

Considering bankruptcy in Minnesota? Behm Law can help.

Commercials for big credit card companies make it look and sound like their only intent is provide you with an easy alternative to cash or checks to help all your “wants and needs” come true. The commercials show happy people buying bag-loads of goods at high-end stores, retiring to a beach-front home, or treating friends to an expensive dinner at a pricey restaurant. But are they really on your side? Are they really there to help you make your dreams come true? A look at their net incomes give you a glimpse of what they’re really out to do, and who truly benefits from their services.
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One recognizable company, Capital One, which gets half of its income from credit cards, reported a $1.1 billion net income for third quarter, 2013. Think about that—$1.1 billion in one quarter. The biggest credit-card issuer, American Express, reported a $1.37 billion net income for third quarter, 2013. Wells Fargo, the largest U.S. home lender, reported a third quarter net income of $5.58 billion. One thing is certain; these companies can’t achieve net incomes in the billions of dollars each quarter by giving money away. They make their exorbitant profits by charging high interest rate
s, massive late fees, and ridiculous overdraft fees. In other words, they lure you with friendly promises of luxury and convenience, and then snag you with highly predatory interest rates and insurmountable fees and penalties.

Credit card companies love to advertise “easy, affordable” credit. But, when times get tough and you’re financially struggling, they can make resolving your financial hardships unbearable and hopelessly unaffordable. Have you been entrapped by the large credit card companies? Is your income being sapped by high-interest payments? Are you over your head in debt? If so, do everything you can to get out of their snare. Your financial future depends on it. But if you are in so much financial trouble you cannot escape on your own, bankruptcy might be your only option. To see if bankruptcy is the right solution for you, call the personal bankruptcy attorneys at Behm Law Group Ltd. Unlike the big credit card companies, we really are there for you.