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Minnesota Bankruptcy Questions & Answers
1 Answer | Asked in Bankruptcy for Minnesota on
Q: Will I lose my wedding ring if we file bankruptcy?

We are considering bankruptcy because of high credit card balances we can't get out from under, but I am worried about my wedding ring. It cost about $2,000 when we got married 7 years ago, and I don't want to lose it.

Kevin W. Chern
Kevin W. Chern
answered on Jun 11, 2015

It's the value of the ring today that counts, not how much it originally cost.

The Minnesota bankruptcy exemption for a wedding ring is up to $2,817.50 in value. In simplest terms, that means that a person filing for Chapter 7 bankruptcy may keep a wedding ring valued at up to...
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1 Answer | Asked in Bankruptcy for Minnesota on
Q: An inc. business owes me $8,000.00 in earned back wages. How do I find out if it has filed bankruptcy? Have court date.
Kristen Bullock
Kristen Bullock
answered on Sep 18, 2014

Since you are a creditor, you should receive written notice that the business is filing bankruptcy.

1 Answer | Asked in Bankruptcy for Minnesota on
Q: If a person files bankruptcy on a loan that has a co-signer, is the co-signer held responsible for payment of the loan?
Kristen Bullock
Kristen Bullock
answered on Sep 18, 2014

Yes, the creditor can hold the co-signer responsible for the debt.

1 Answer | Asked in Bankruptcy for Minnesota on
Q: If a judgment has been filed against a debtor prior to them filing bankruptcy - is the debtor required to pay that debt
Andrew Bresalier
Andrew Bresalier
answered on Feb 3, 2014

A: A Bankruptcy discharges prepetition debts. This means you no longer have a legal obligation to repay them. However, certain debts are not dischargeable, such as student loans, Child/Spousal Support, Taxes and Debts relating from a DUI. Unless there is unexempt property, usually a Creditor... View More

1 Answer | Asked in Bankruptcy for Minnesota on
Q: What are the laws about signing title over with no lein holder can they sue me for what is owed if there is no legal
Andrew Bresalier
Andrew Bresalier
answered on Feb 3, 2014

A: This can be viewed as a “Fraudulent Conveyance with the Intent to Defraud your Creditors”, unless you receive market value consideration and can show what you did with the funds. In a Bky a Trustee can consider the transfer void and proceed against the property and/or the new owner.

1 Answer | Asked in Bankruptcy for Minnesota on
Q: How much of my 401K is exempt, filing chapter 7 ?
Andrew Bresalier
Andrew Bresalier
answered on Feb 3, 2014

A: As long as you have merely placed funds in your 401K through the normal course of employment, it should be exempt 100%

1 Answer | Asked in Bankruptcy for Minnesota on
Q: How can I find out how many times an individual has file for bankruptcy?
Andrew Bresalier
Andrew Bresalier
answered on Feb 3, 2014

A: Sign up for PACER, it is a free governmental service, as long as you use less than $15 a calendar quarter. Then sign on at the District Court's Bky Site for the specific district and perform a search.

1 Answer | Asked in Bankruptcy for Minnesota on
Q: How do I find out if a customer (another business) has filed bankruptcy? They owe me $10,000.

I run a subcontracting company, one of my contractors isn't paying me and has closed his office. I've been told he's filing bankruptcy, unsure if he's reported the money owed to me.

Andrew Bresalier
Andrew Bresalier
answered on Feb 3, 2014

A: Sign up for PACER, it is a free governmental service, as long as you use less than $15 a calendar quarter. Then sign on at the District Court's Bky Site for the specific district and perform a search.

1 Answer | Asked in Bankruptcy for Minnesota on
Q: If I file for bankruptcy in Minnesota, does it effect a property judgment action in Florida?
Andrew Bresalier
Andrew Bresalier
answered on Feb 3, 2014

A: When you file Bky everything is included. Everything you own and owe. Does not matter where it is owned; however, if your debt is outside the USA, you must include it, but it may still be collectable outside the USA. You can keep things, such as a mortgaged property via a Reaffirmation... View More

1 Answer | Asked in Bankruptcy for Minnesota on
Q: Can I still collect my money from a friend who filed bankcruptcy recently. She has papers that she signed from me?
Robert Jason De Groot
Robert Jason De Groot
answered on Jul 25, 2013

Once someone files bankruptcy you are prohibited from trying to collect the amount they owed to you, you basically cannot even call them, because there is a federal law which goes into effect on the moment the bankruptcy is filed, called the automatic stay.

1 Answer | Asked in Bankruptcy for Minnesota on
Q: How can I get my property back from a woman who filed bankruptcy
Mr. Kenneth Lee LaBore
Mr. Kenneth Lee LaBore
answered on Jan 8, 2013

If it is personal property, you may not have the right to the property if she properly noted you in the bankruptcy for any debt attached to her. If it is a car, boat, home with title the answer may be different if you can establish a lien interest.

I would need more facts to give a legal...
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2 Answers | Asked in Bankruptcy for Minnesota on
Q: Can u tell me the last last time I filed for for bankruptcy was and can I again. I am disabled now and can't work anymor
Dave  Kelly
Dave Kelly pro label Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Sep 28, 2012

Assuming that your last bankruptcy was a Chapter 7 bankruptcy, you can't file another Chapter 7 until eight years after your earlier case was filed.

If you received a discharge in a Chapter 13 bankruptcy, you can't file a Chapter 7 again until six years after the Chapter 13 was...
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1 Answer | Asked in Bankruptcy for Minnesota on
Q: In a Chapter 7 bankruptcy, can a person's your social security or pension checks be taken?
Dave  Kelly
Dave Kelly pro label Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Sep 28, 2012

First of all I have to say that in Chapter 7 bankruptcy it is your assets that the trustee is looking at, not so much your income. When the case is filed the trustee in a theoretical sort of way has title to all your assets, or at lease most of them. Your lawyer will have claimed most or all of... View More

1 Answer | Asked in Bankruptcy for Minnesota on
Q: How do I get an old bankruptcy off my credit report?
Andrew Bresalier
Andrew Bresalier
answered on May 30, 2012

Bky stays on your credit reports for 10 yrs from your filing or discharge, whichever is later. Check your dates. If it has been more than 90 days since the 10 yrs advise the report provider.

1 Answer | Asked in Bankruptcy for Minnesota on
Q: If I don't include the mortgage on my home as part of my bankruptcy, what type of documents will be needed to protect me
Andrew Bresalier
Andrew Bresalier
answered on Jan 13, 2012

All debt, including secured (i.e. your mortgage) must be included. If you want to keep the property, you must keep the mortgage and you should request a Reaffirmation Agreement from the lender. Be sure to clear mark your intention to retain the property in the form "Statement of Intentions".

1 Answer | Asked in Bankruptcy for Minnesota on
Q: Do i need a bankruptcy lawyer?

Lost security business, lost all investment savings, lost ownership in building, and now a former client is taking me to arbitration. What do you do?

Andrew Bresalier
Andrew Bresalier
answered on Nov 28, 2011

A Natural Person (vs. a business entity) can represent themself in court; however, bankruptcy is a very complicated area of law, involving a combination of Federal Procedures and State Laws. So, an attorney is recommended.

1 Answer | Asked in Bankruptcy for Minnesota on
Q: My ex and I bought a house and then we split up. I kept the house and she is filing bankruptcy. Do I need to worry about

The house

Andrew Bresalier
Andrew Bresalier
answered on Nov 10, 2011

YES. If she is a Co-Owner or a Co-Debtor you should immediately speak with an Experenced Bankruptcy Attorney. Bring with you a copy of your Divorce Settlement and copies of the Deed/Mortgage.

Depending on the exemptions of your state and if there is equity, your house can be taken away from you.

1 Answer | Asked in Bankruptcy for Minnesota on
Q: Can I pay off student loans with credit card then file bankruptcy?
Andrew Bresalier
Andrew Bresalier
answered on Nov 10, 2011

This would be fraud. Depending on the amount of time between the charge and the filing of your case, you would be required to disclose this information. In some instances, it would not be dischargable. There are other strategies which an attorney would be able to discuss with you.

1 Answer | Asked in Bankruptcy for Minnesota on
Q: How can I find out on-line if someone has filed for bankruptcy
Robert Douglas Kane Jr
Robert Douglas Kane Jr
answered on Jan 20, 2011

You can go to the District of Minnesota-Bankruptcy Courts' web site (PACER). I think the search may be free, but there is definitately a cost for accessing documents.

1 Answer | Asked in Bankruptcy for Minnesota on
Q: How do I find out if a business competitor is filing bankruptcy. I would like to be present for the asset sale.
Robert Douglas Kane Jr
Robert Douglas Kane Jr
answered on Jan 12, 2011

PACER. Go to the District of Minnesota BK Court website. You can search for businesses that filed for BK. I am not sure, however, how notice is given for the asset sale. I would assume there should be public notice.

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