Posts Tagged ‘chapter’
June 7th, 2010 | 
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Minneapolis area bankruptcy attorney David Kelly discusses income and other requirements for filing personal Chapter 7 bankruptcy in Minnesota, from Attorney David Kelly, Minnetonka, near Minneapolis, St. Louis Park, Hopkins, Golden Valley and Plymouth.
This is the kind of bankruptcy which is the usually first choice of individuals who are in serious financial difficulty. It is very well suited to consumer debts, but often works well for self-employed individuals and small businesses too. It is commonly called a “straight” bankruptcy, and is also often referred to as a “liquidation.” The bankruptcy court appoints a trustee who reviews what assets the debtor has available for distribution to creditors. Those would be only the assets that the debtor is unable to claim as exempt. If some assets are available, the creditors are notified. Those who submit claim forms will be given their proportionate share of the available assets, but that is ordinarily all they are going to receive.
Since this video was made the median income requirements which the video refers to have gone up twice, so those numbers in the video are out of date. Up to date numbers for median income in Minnesota can be found on Dave Kelly’s web site at http://www.mn-bankruptcy.com/chapter7.html
Kelly Law Office
1013 Ford Rd.
Minnetonka, MN 55305
952-544-6356
http://www.mn-bankruptcy.com
Kelly Law Office represents bankruptcy clients throughout the Twin Cities – Minneapolis, Minnesota area including Bloomington, Edina, Minnetonka, Eden Prairie, St. Louis Park, Wayzata, Plymouth, Maple Grove, Brooklyn Park, St. Paul, Anoka, Shakopee, Hastings, Eagan, Burnsville, Buffalo, Hennepin County, Anoka County, Carver County, Scott County, Ramsey County, Dakota County, and Wright County.
The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation. The use of the Internet for communications with the firm will not establish an attorney-client relationship and messages containing confidential or time-sensitive information should not be sent.
Duration : 0:4:58
Posted in bankruptcy law | 
Tags: bankruptcy, Business, chapter, debt, filing, foreclosure, garnishment, harassment, Personal | 
1 Comment »
158-Year-Old Investment Bank Goes Belly-Up After Failed Rescue Bid; Bank Of America Takes Over Merrill Lynch
Say hello to a recession very soon!
Duration : 0:2:45
Posted in bankruptcy law |
Tags: 11, america, American, bank, bankruptcy, bros, brothers, chapter, collapse, Crisis, economy, file, international, Investment, lehman, lynch, Market, merrill, recession, stock, street, wall |
21 Comments »
I’m Dave Kelly. I’m a lawyer practicing in the Minneapolis, Minnesota area. It seems I am spending an increasing percentage of my time preparing and filing bankruptcies. The biggest part of the project is usually preparing the petition.
Plan on at least three sessions in my office of about an hour and a half duration. There should be a more efficient way of doing it, but I haven’t found it. It seems to me that if you don’t take the proper time, there’s a lot more risk.
The petition is a document that runs about 45 pages and contains about a thousand questions, all of which must be answered carefully and truthfully. The rule here is to make full disclosure. When you sign this document, it is under penalty of perjury. I have never been comfortable doing it any other way than going through the whole thing line by line. I have top-of-the-line software for preparing the petition. This is necessary because some of the forms contain complicated calculations based on U.S. Census data or IRS data. What I do with my clients is sit down with the computer monitor turned where they can see it and start going through the questions one at at time.
The list of what I may ask you to bring to me can vary quite a bit from case to case. Typically, however, I will be asking you to bring me at least the following:
Pay check stubs for all employment income during the past seven months.
Your state, federal and property tax returns for the past two calendar years.
Statements for all of your bank accounts for the past seven months.
Recent statements for your mortgages, home equity loans and automobile loans.
A list of all your debts along with a stack of your most recently received bills for each one.
A copy of the deed to your home and copies of deeds to any other real estate you may own.
Paperwork on any legal action which is currently pending or which ended in the past two years.
A credit counseling certificate from a qualified agency. Here is a link to the court’s list of qualified providers.
A recent credit report for yourself. The best place to get such a report is http://www.annualcreditreport.com.
This video is for general information purposes only and is not intended to be legal advice. Use of these materials does not create an attorney-client relationship. I recommend that you consult the attorney of your choice concerning the details of your cae.
David J. Kelly, Attorney
Kelly Law Office
A Debt Relief Agency under the Federal Bankruptcy Code
10709 Wayzata Blvd. #205
Minnetonka, MN 55305
952-544-6356
dave@kelly-law.com
http://www.mn-bankruptcy.com
Kelly Law Office represents bankruptcy clients throughout the Twin Cities – Minneapolis, Minnesota area including Bloomington, Edina, Minnetonka, Eden Prairie, St. Louis Park, Wayzata, Plymouth, Maple Grove, Brooklyn Park, St. Paul, Anoka, Shakopee, Hastings, Eagan, Burnsville, Buffalo, Hennepin County, Anoka County, Carver County, Scott County, Ramsey County, Dakota County, and Wright County.
Duration : 0:4:32
Posted in bankruptcy law |
Tags: 13, agency, and, bankruptcy, chapter, Collection, foreclosure, garnishment, judgment, Minneapolis, minnesota, Minnetonka |
1 Comment »
Minneapolis bankruptcy attorney David Kelly lists questions he receives which he thinks tell him that this person is not ready to file a bankruptcy. This is a total process. You can’t be a little bankrupt. Either you are or you aren’t.
This video and these comments are for general information purposes only and are not intended to be legal advice. Viewing these materials does not create an attorney-client relationship. I recommend that you consult the attorney of your choice concerning the details of your case.
Kelly Law Office
A Debt Relief Agency under the Federal Bankruptcy Statute
10709 Wayzata Blvd. #205
Minnetonka, MN 55305
952-544-6356
dave@kelly-law.com
http://www.mn-bankruptcy.com
Kelly Law Office represents bankruptcy clients throughout the Twin Cities – Minneapolis, Minnesota area including Champlin, Crystal Bay, Dayton, Eden Prairie, Edina, Excelsior, Hamel, Hopkins, Howard Lake, Long Lake, Loretto, Maple Plain, Minneapolis, Minnetonka Beach, Minnetonka, Monticello, Mound, Navarre, Osseo, Otsego, Rogers, Saint Bonifacius, Saint Paul, Spring Park, Wayzata, Young America, Bloomington, Edina, St. Louis Park, Wayzata, Plymouth, Maple Grove, Brooklyn Park, Anoka, Shakopee, Hastings, Eagan, Burnsville, Buffalo, Waverly, Montrose, Hennepin County, Anoka County, Carver County, Scott County, Ramsey County, Dakota County, and Wright County.
The information you obtain at this site is for general information purposes on and is not legal advice. You should consult the attorney of your choice for individual advice regarding your own situation. The use of the Internet for communications with the firm will not establish an attorney-client relationship and messages containing confidential or time-sensitive information should not be sent.
Duration : 0:4:27
Posted in bankruptcy law |
Tags: 13, attorney, bankruptcy, chapter, disclosure, felony, filing, fraud, lawyer, Minneapolis, Personal, privacy |
No Comments »
Visit http://www.VideoVocab.TV to view and download more videos on Business English vocabulary for ESL.
In this Video Vocab TV lesson on financial English vocabulary related to bankruptcy, were going to look at General Motors impending Chapter 11 filing.
Duration : 0:9:18
Posted in bankruptcy law |
Tags: 11, Accounting, bankrupt, bankruptcy, chapter, EFL, English, ESL, finance, financial, General, GM, Learning, motors, Podcast, TEFL, Terms, TESOL, TOFEL, TOIEC, video, Vocab, Vocabulary |
1 Comment »
