When a person declares bankruptcy in Minnesota, one of the first things that must happen is an evaluation of their assets. This is done to determine which assets are exempt from being liquidated and used to repay outstanding debts. Non-exempt property Non-exempt...
The college debt crisis isn't just confined to students. Even parents are drowning in debt, having taken out expensive loans to put their kids through college. One big difference is that students often trade those loans and that debt for the prospect of one day...
If you have been receiving reduced pay when you get your pay check, you may notice that certain fees have been taken out of your pay check by debt collection companies. You may be shocked by this and wonder whether it is even a legal practice. Unfortunately, wage...
Having any of your assets repossessed because of debts that you owe can be confusing, frustrating and heartbreaking. You worked hard to acquire all that you have, and it likely seems completely unfair that someone is now taking some of it away from you. If you are in...
A bank that loans you money to buy an automobile can repossess your car if you fail to make your loan payments. That said, the bank needs to carry out the repossession in a legally appropriate fashion. In general, the repossession of your vehicle will be governed by...
When a person is struggling or refusing to pay back certain debts that are owed, it may result in wage garnishment taking place. This is usually a last resort for debt collection efforts, and it typically requires the ruling of a judge in order for it to be possible....
When any of your property or assets are taken by authorities, it can feel like nothing short of an illegal act. You may feel as though the police or law enforcement officers have committed an illegal offense against you. Unfortunately, this is the reality for many...
Being subject to civil asset forfeiture can be a very stressful position to be in. Civil asset forfeiture means that a member of a law enforcement team has the legal right to cease and confiscate property that he or she has a reason to believe has been a part of some...
When you're leasing a car, it's not a great idea to miss a payment. Of course, sometimes life gets in the way and you forget, or financial difficulties make it impossible. But it is likely that you depend on your car to get you to work, or take your kids to school....
Have you ever received your paycheck and been confused by the low amount, wondering why there have already been deductions by debt collectors before you got to receive the money? This type of wage deduction is known as wage garnishment, and it means that debt...