Many of my clients are married and have credit cards that at least look like they are joint cards. It can be confusing to figure out which of the two of them is obligated on a credit card.
Many of my clients are married and have credit cards that at least look like they are joint cards
What is the means test?
There are two types of bankruptcy usually used by individuals -- Chapter 7 and Chapter 13. Either can help you deal with your finances. Chapter 13 is a payment plan type bankruptcy, that lets you pay your bills, or a portion of your bills, over three to five years. Chapter 7, on the other hand, wipes out your dischargeable debt without a payment plan, and usually takes about four months.
Why Filing Your Own Bankruptcy Is A Bad Idea
Debt can be a handy tool for purchasing property or assets that you cannot finance in a lump sum. At the same time, it can become a burden if your income is reduced, you lose your job, or take on more debt than you can handle. In the event of excessive debt and absolutely no way out, your last resort is to apply for bankruptcy.
401(k) contributions in a chapter 13 may continue
Minnesota is in the Eighth Circuit, which includes the Dakotas, Nebraska, Iowa, Missouri and Arkansas. Nevertheless, cases from other circuits may be helpful in understanding the law.
More wages will be protected from garnishment
The Minnesota Legislature recently passed a small but helpful change in the garnishment law.