Hoglund Law Blog

According a study prepared for the AARP’s Public Policy Institute, “the rate of bankruptcy filings among Americans 55 and older has nearly tripled since 1991.” The results of this study are a cause for concern because the results “indicate that financial security is progressively eroding for many older Americans.” (As printed in Consumer Bankruptcy News, [...]

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Much attention has recently been given to the disastrous bankruptcy filing of Denny Hecker. Clearly, the Hecker case is not a run of the mill case; however average individuals contemplating bankruptcy should take note of the things which got Mr. Hecker in hot water. These things can happen to average individuals as well. The most [...]

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A recent Supreme Court decision should allow for debtors in future bankruptcy cases to have more affordable payments. The Supreme Court in Hamilton v. Lanning has made a decision which should allow debtors to propose Chapter 13 payment plans which take the debtors’ actual income and expenses into account. Prior to this decision, debtors’ Chapter [...]

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Debts owed to ex-spouses through a provision in a hold-harmless provision in a divorce decree are automatically non-dischargeable in a bankruptcy filing, according to a court ruling. A recent Court of Appeals decision (In re the Marriage of: Jason Paul East vs. Yvette Francis East, File No. 74-FX-05-000284) provides that the ex-spouse of an individual [...]

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A new set of rules regarding the impact of a bankruptcy on a mortgage modification has taken effect as of June 1. Under these rules, a bankruptcy will not disrupt a HAMP modification. Before this rule change, the filing of a bankruptcy would often disrupt the modification process. A modification typically will take several months [...]

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The simple answer to this is “no, there are no debtor’s prisons.” Unfortunately, despite the lack of debtor’s prisons, some people are ending up in jail because of bad debt. Minnesota law does not impose prison sentences because of bad debt, but Minnesota law which is rather pro-creditor provides a mechanism which allows a creditor [...]

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Since the radical changes in the Bankruptcy Code in 2005, many people incorrectly believe that credit cards can no longer be discharged in a bankruptcy. However, there is nothing in the specific nature of credit card debt that makes them nondischargeable in a bankruptcy. Section 523 (a) of the Bankruptcy Code sets out a variety [...]

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Over the past several years, more and more people are taking out ever-increasing amounts of student debt. With rising tuition rates and a greater push for advanced degrees beyond bachelors and technical degrees, it is not uncommon for graduates (as well as those who never even complete their programs) to come out of school with [...]

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Choosing to file bankruptcy to resolve financial difficulties is clearly a big decision. An equally big decision is determining which attorney should represent you. Bankruptcy is a complicated process. Bankruptcy laws arguably were designed to discourage individuals from filing bankruptcy. The Bankruptcy Code is riddled with pitfalls and snares consisting of deadlines, caveats and exceptions [...]

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When a debtor files for bankruptcy and is involved in a personal injury claim, either as the plaintiff or as the defendant, there are several factors to address and consider. In a bankruptcy, federal and state laws allow for certain types and amounts of property to be exempt from claims by the trustee and creditors. [...]

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