On behalf of Ed Shaw Law | Oct 4, 2019 | Bankruptcy
The Bankruptcy Abuse Prevention and Consumer Protection Act, which was signed into law in 2005, makes student loan debt exempt from discharge in most situations, and individuals who seek relief from educational loan obligations are generally required to establish...
On behalf of Ed Shaw Law | Jun 26, 2019 | Bankruptcy
Debt is a topic of considerable discussion among many Minnesota residents. Nationally, especially as the presidential cycle is again rolling around, it’s debated in terms of the type of programs the government should and should not fund. On the personal level,...
On behalf of Ed Shaw Law | Mar 21, 2019 | Bankruptcy
To be eligible to file for Chapter 13 bankruptcy, a Minnesota consumer must have less than $1,184,200 in secured debt and less than $394,725 in unsecured debt. A debtor must also establish that he or she has filed his or her state and federal tax returns for the past...
On behalf of Ed Shaw Law | Mar 6, 2019 | Bankruptcy
Americans under the age of 30 owe about $1.05 trillion in overall debt, and they owe a variety of lenders such as credit card and mortgage companies. However, the biggest concern is the amount of student loan balances that young Americans carry. There are roughly 44...
On behalf of Ed Shaw Law | Feb 8, 2019 | Bankruptcy
Minnesota residents have likely inquired about discharging student loans. They may have found that student loans are not usually able to be discharged in a bankruptcy. However, as with all things, there are some exceptions.It’s estimated that in the United...
On behalf of Ed Shaw Law | Nov 13, 2018 | Bankruptcy
It appears that consumers in Minnesota and around the country are taking on more debt as the economy continues to grow. Total consumer debt in the United States has grown for 16 consecutive quarters and is now approaching $14 trillion according to the New York Federal...
On behalf of Ed Shaw Law | Sep 4, 2018 | Bankruptcy
Minnesotans who are struggling under the weight of their debt may benefit by filing for personal bankruptcy protection. However, it is important for people to understand several things about personal bankruptcy before they file so that they might avoid making...
On behalf of Ed Shaw Law | Jun 15, 2018 | Bankruptcy
Minnesota fans of rapper Lil’ Kim may have heard that she is having financial problems. Lil’ Kim filed for Chapter 13 bankruptcy just days before foreclosure on her mansion in New Jersey.She reportedly owes over $1.47 million in taxes and over $4 million...
On behalf of Ed Shaw Law | Apr 20, 2018 | Bankruptcy
Couples and individuals in Minnesota who are struggling with debt may decide to look into bankruptcy as a form of debt relief. While bankruptcy can be a good option for those who need to better manage their financial obligations, the process is not capable of...
On behalf of Ed Shaw Law | Feb 23, 2018 | Bankruptcy
If a debtor in Minnesota files for Chapter 13 bankruptcy, it may allow for a cram down of a vacation or investment property. What this means is that the market value of the home becomes a secured debt. The difference between the market value and what is left on a...
