Should I Open a New Bank Account Prior to Filing Bankruptcy? Prior to filing bankruptcy, a common concern is whether you can keep your bank account open during the process. The answer in most cases is yes. However, if you owe your current bank money, it is generally a good idea to switch to another […]
Retailers face financial uncertainty as many file for bankruptcy. State economies are beginning to re-open, including the return of in-store shopping. The re-opening of stores is a hopeful landmark, but it isn’t an immediate fix to decreased revenue. Some retailers who were on a financial downturn before the pandemic have found themselves facing bankruptcy decisions […]
How have bankruptcy procedures changed due to the COVID-19 pandemic? To protect all parties involved, Minnesota bankruptcy procedures have changed to respect social distancing and safer at home guidelines. These changes include deadline extensions, office closures, payment methods, and document requests, among others. The United States Bankruptcy Court, District of Minnesota has enacted the following […]
Bankruptcy and Divorce. If you have been involved in a divorce, you may be wondering what happens to the debt that was divided in your divorce agreement. You may also wonder what happens if your ex files for bankruptcy. These answer depend on a few factors surrounding you and your ex.