Thursday, January 14, 2016

Can I Include My Homeowner's Association Fees in Bankruptcy?

In Minnesota, your homeowner's association fees are a lien against your property.  If you don't pay the fees, your homeowner's association can foreclose its lien against your property and you could lose your home.  If you are behind in your homeowner's association fees, you can use a Chapter 13 debt consolidation plan to force your homeowner's association to allow you to bring your payments current over an extended period of time. What if you want to surrender the property to the homeowner's association or your mortgage company?  As long as you are the owner of the home and the property has not been sold at foreclosure sale, you are personally liable for your homeowner's association dues. 

If you file bankruptcy, you can only include the homeowner's association fees that are due as of the date of the filing of your bankruptcy petition.  Therefore, if you don't pay homeowner's association fees that come due after your bankruptcy case is filed, the homeowner's association has the option of suing you for the fees that come due after the bankruptcy petition is filed with the court.  Even if you are no longer living in the property, you could be responsible for paying homeowner's association fees that come due after you file your bankruptcy case.   One way around this problem in a Chapter 13 case, is to file a debt consolidation plan that provides that the homeowner's association must accept a deed to the property or start foreclosure proceedings.  This approach was accepted by the court in the case of in re: Sharon D.M. Stewart, BKY: 14-40709-MER.

For more information regarding your specific situation, contact Minnesota Bankruptcy Attorney Gregory J. Wald at 952-921-5802 or at www.BankruptcyMinn.com for a consultation.   

Thursday, December 10, 2015

Can You Go To Jail For Debt?

Until the mid-19th century, many people were imprisoned for delinquent debts.  Similar to today's workhouses, you could lose your freedom until the debt was paid off.   Debtors prisons were abolished long ago, but there are still are ways that you can go to jail for unpaid debt.

If you are held in contempt of court, you can go to jail.  It’s not as hard for this to happen as you might think.  If a creditor sues you and obtains a court determination that you owe money (called a "judgment""), and you can't or won't pay, then the creditor may send you a demand for disclosure of your income, your bank accounts, and property.  Or the creditor may subpoena you for a deposition to give sworn testimony regarding these matters.  The creditor wants this information so that it knows how to garnish your wages, levy your bank accounts, and seize your property.  If you don't respond with the information, then you may receive an "order to show cause" at a court hearing as to why you should not be held in contempt of court for failing to cooperate.  If you don't then show up at the hearing with the information, the judge may enter a bench warrant for your arrest.  The purpose of the arrest warrant is not to punish you, it is to force you to give the creditor and the court the information regarding your income and assets.  It wouldn't be uncommon to be arrested on a Friday and spend the weekend in jail until you are brought before a judge on Monday to testify as to your income and property. 

If you need to file bankruptcy, save yourself a lot of misery and do it before matters reach this point. When you file a bankruptcy petition, you are protected by the automatic bankruptcy stay against collection efforts and you don't need to worry about being held in contempt of court.

For more information regarding your specific situation, contact Minnesota Bankruptcy Attorney Gregory J. Wald at 952-921-5802 or at www.BankruptcyMinn.com for a consultation.  

Wednesday, December 9, 2015

HOLIDAZZLE - Holiday Fun!

HOLIDAZZLE

It's FREE Holiday FUN!
Loring Park - Nov. 27th - Dec. 20th
Thursdays and Fridays - 5pm - 9pm
Saturdays and Sundays - 11am - 9pm




Monday, November 9, 2015

Bentleyville "Tour of Lights"

BENTLEYVILLE "TOUR OF LIGHTS"
Nov 21, 2015 - Dec 27, 2015 - FREE ADMISSION
HOURS: SUN - THURS 5:00 - 9:00 PM; FRI & SAT 5:00 - 10:00 PM
Come see Bayfront Festival Park on the shores of Lake Superior as it has been transformed into America's largest free walk through light show!



Tuesday, November 3, 2015

720creditscore.com.

Poor credit is very costly, because it means high interest rates for car loans, credit cards, and mortgages.  There is no reason for you to live with poor credit.  Bankruptcy and www.720creditscore.com can help.

While it is possible to have a credit score of over 800, a credit score of at least 720 is considered great credit.  A score of 720 or above is all you need to get the best interest rates on car loans, boat loans, mortgages, and credit cards.  If you would like to learn everything you need to know to get a credit score of 720 or above, visit this web site:  www.720creditscore.com

Bankruptcy Attorney Gregory J. Wald of www.bankruptcyminn.com is happy to announce that we have entered into a business relationship that allows us to provide our clients with a subscription to www.720CreditScore.com FREE of charge.  720 Credit Score gives you the tools to rebuild your credit score after bankruptcy.  This program will give you the tools to get great credit.  Although 720 Credit Score charges $1,000.00 for its program, I am able to offer the program for FREE to my clients.  Contact me today for more information!

Wednesday, September 30, 2015

BooFest 2015 - St Paul on Grand Ave.

BooFest 2015
Mark your calenders for Saturday, October 10, 2015
There's something for everyone - bring the entire family!   - See more at: https://www.grandave.com/events/boofest#sthash.7NCU6M8z.dpuf
Mark your calenders for Saturday, October 10, 2015
There's something for everyone - bring the entire family!   - See more at: https://www.grandave.com/events/boofest#sthash.7NCU6M8z.dpuf
Mark your calenders for Saturday, October 10, 2015
There's something for everyone - bring the entire family!   - See more at: https://www.grandave.com/events/boofest#sthash.7NCU6M8z.dpuf
Grand Avenue's Annual Fall Celebration
October 10, 2015 - See more at: https://www.grandave.com/events/boofest#sthash.7NCU6M8z.dpuf
Mark you calendars for Saturday, Oct. 10th!
There's something for the whole family!


Wednesday, September 16, 2015

ValleySCARE - Halloween 2015!

Valleyfair transforms into ValleySCARE
"During the fall, the fun takes a terrifying turn as Valleyfair transforms into ValleySCARE, the upper Midwest’s largest Halloween attraction. With more than 75 rides, attractions and entertainment acts, there is something to satisfy everyone’s devilish desire."