August 2014 Archives

Getting proof of a debt and stopping calls from debt collectors

Minnesota residents who are suffering from overwhelming debt may be interested in ways to fight against creditor harassment. Making the proper requests on time can help to avoid harassing phone calls, particularly when a debt is not legitimate.

Bankruptcy exemptions granted to MN residents

Minnesota residents who file for bankruptcy protection are able to keep certain assets because they are exempt. Those assets are protected by law from being sold to pay creditors. The exemptions fall into categories, such as motor vehicles and clothing, with a maximum dollar amount allowed for each category. Filers are free to use the Minnesota exemptions or they can elect to use federal exemptions.

Discharge of debt under Chapter 7 v. Chapter 13 bankruptcy

Many Minnesota residents have experienced financial difficulties at some point in their lives, and for some, filing for bankruptcy may be a good option for dealing with debt that has become insurmountable. For those who file for bankruptcy, not all of their unsecured debts will be eligible for discharge. In a Chapter 13 bankruptcy proceeding, a person will have to wait at least three to five years before eligible unsecured debts are discharged. In a Chapter 7 bankruptcy proceeding, any unsecured financial debts will be discharged about four months after the court proceedings are complete.

Fighting back against debt collectors

Minnesota residents may wonder what rights they have when debt collectors start to call. Some debt collectors make their livings by seeking payments from consumers who do not know the law. People who understand the protections of the federal Fair Debt Collection Practices Act may better be able to assert themselves and help avoid creditor harassment.

Prescott Pearson & Tande, PA
443 Old Highway 8 Northwest, Suite 208
New Brighton, MN 55112

Toll Free: 888-366-0827
Phone: 651-968-8096
Fax: 651-633-7562
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