After bankruptcy is filed, people are often surprised and disappointed to see their timely monthly mortgage payments no longer reported to the credit bureaus.   Mortgagees (i.e., the lender that holds the mortgage note) and creditors typically reason that the automatic stay—which is invoked the moment a bankruptcy case is filed and affords debtors in bankruptcy proceedings expansive relief from creditor communications and collection activities—prevents them from credit report

Most if not all credit cards can be expected to be eventually canceled once bankruptcy is filed. Whether a corporate credit card will be cancelled depends on how that account is structured and potential employer policy.   Corporate cards can be legally structured in several ways, each resulting in different appearances on one’s credit report and impact on the card once a personal bankruptcy is filed.   When a corporate card is issued to the employee, but the employer company

Changes to Chapter 13 Plans due to COVD-19 in the CARES Act: You may be able to modify your existing chapter 13 plan to reduce your...

Yes, the Minnesota bankruptcy court is still accepting new consumer and business bankruptcy filings for all chapters of bankruptcy,...

*Applies to case filed in 2019, 2020, 2021 and through April 2022. Effective April 1, 2019, the debt limits for filing chapter 13...

Since 2007, bankruptcy filings have doubled for those aged 55 and over. Despite being at a time in life where their children are out of...