Helping People Like You For Over Twenty Five Years/Bankruptcy First Visit Is Free!
General Info
Bankruptcy, it's not the most pleasant word in the dictionary, and you certainly would like to avoid it. But bankruptcy serves a useful purpose for society and could, possibly, for you!
Bankruptcy allows people to get out from under a stifling, strangling financial burden, get back on their feet, and lead useful, productive lives.
We concentrate our work on helping people and small businesses who are deep in debt. Sometimes bankruptcy is the best tool so you can keep your home, your car, your means of livelihood, and restore your peace of mind. For more information about bankruptcy, please click on the button at the left labeled "bankruptcy."
Real Estate Law
Sam Calvert is a Real Property Law Specialist, Certified by the Real Property Section, Minnesota State Bar Association and has read literally thousands of abstracts of title to property in Central Minnesota---maybe yours! Put experience to work for you in your next real estate transaction, whether it is the purchase or sale of property, preparing a contract for deed, or some other land related issue.
* Basic Information About Small Businesses
* Subchapter S Corporations
* Limited Liability Companies
Bankruptcy is the legal process in which a judge and court trustee examine a person or business’ assets and liabilities who are insolvent and decide whether to discharge their debts, which makes them no longer legally required to pay them. There are certain debts that might not be discharged in bankruptcy, such as tax liens, student loans, back child support, and debts obtained through fraud.
Spousal Support
Priority debts, such as child support and alimony, must be paid in full; but as mentioned above unsecured, non-priority debts are often payable at a few cents on the dollar. Unsecured creditors only have to be paid what they would receive in a chapter 7 liquidation bankruptcy, although the farmer must commit “disposable income” (a defined term) to the plan.
It is important that you disclose all of your assets to your bankruptcy lawyer and in your bankruptcy petition. Failing to disclose assets can result in serious consequences, including a dismissal of your case, a refusal to discharge debt, liquidation of the asset and charges of bankruptcy fraud.
It is an honor and privilege to represent the Sartell community. Sam Calvert knows that the residents of Sartell prioritize education and sports for their youth, are involved in community outreach, and are hard-working and they deserve good legal representation when it comes to their bankruptcy and real estate needs. Sartell is a vibrant community that offers all the excitement of a city while maintaining a small-town charm. Whether it’s through developing innovative industry or celebrating hometown pride by cheering on the Sartell Sabres in blue and white, Sartell residents make the city shine. The Sartell community is strong and deserves equally strong legal representation in bankruptcy and real estate matters.
Real Estate Transactions
If you have a question about your Real Estate Transaction, please consult an attorney before you sign the papers. If a problem has come to light after the real estate transaction closed, we may be able to help, but it is much easier to work things out before the sale or purchase is final.
There is no particular limit on the amount of debt you must have, nor maximum amount of debt you can have, before you file a bankruptcy. However, you can file a chapter 7 only once every eight years. A "meeting of creditors" is held about 30 days after the paperwork is filed. Depending on the county in which you live, the meeting will be in St. Cloud, Fergus Falls, Mankato, Duluth, Minneapolis, or St. Paul. The debtor (or debtors) must attend the meeting. The trustee will swear you in and ask questions regarding your financial situation and the contents of the paperwork you filed with the court. Creditors may attend the meeting, but almost never do. Sixty days after the meeting with the trustee, you receive a “discharge”. This discharge releases you from most debt. Exceptions include child support, alimony, many taxes, debts incurred by fraud, personal injury stemming from a DUI, and student loans. Discharged creditors’ claims are wiped out, and they cannot collect them after your discharge. You may keep your house, by continuing to make the payments; to keep your vehicle, the lender will usually demand a “reaffirmation”, which is an agreement to pay even though you filed bankruptcy.
What do you get when you mix a lawyer, a financial advisor? - it's an estate planning attorney! These skilled professionals possess a magical ability to help individuals plan and protect their assets for the future, all while navigating the legal and financial complexities of the process.
Wills
Planning for the future is crucial, especially when making decisions about your healthcare. Have you ever heard of a "living will" or an "advance directive"? These legal documents can provide essential instructions for medical care, ensuring that your wishes are honored even if you cannot communicate them yourself. In this blog, we'll explore the significance of living wills and why they are integral to your estate planning journey. So, let's delve into the world of advance directives and discover how they can bring you peace of mind.
Trusts
In addition to having a will, there are “probate avoidance devices. Two common such devices are a revocable trust (often called a “living trust”) and a transfer on death deed to transfer real estate after your death without having to probate your estate.
Power of Attorney
A Durable Power of Attorney permits someone to handle your affairs if you can’t. Many people think that they don’t need a Power of Attorney because their spouse is named as co-owner of bank accounts and is on the deed to the house. But a spouse cannot sign contracts, deeds, tax returns and other documents for you just because they are named as a co-owner on an account. Most people name their spouse on the power of attorney, and name one of their children as an alternate. It is very important, however, to know that a Durable Power of Attorney is literally a blank check, so you need to have the utmost confidence in the person you name. Every year there is a news story about a child who stole a lot of money from their parent. You can name two persons who are required to act jointly.
Chapter 12 is for "family farmers". It is a reorganization bankruptcy, meaning that in a chapter 12 we set the farmer up on a payment plan that lasts between three and five years. Chapter 12 was created to eliminate many of the technical problems of a “regular” chapter 11 bankruptcy. It is similar to a chapter 13 in many ways, although the debt limits of a chapter 12 are much higher, because farming is often a capital intensive business.
Foreclosure
Most mortgages in Minnesota are foreclosed by advertisement. (There is an alternate method of foreclosure, not usually used). When the person who gives the mortgage (called a “mortgagor”) fails to pay on time, or otherwise defaults, the mortgage company will send a notice of default. The notice will give you a deadline to get current. If you do not do so, the mortgage company, through its attorneys, will publish a notice once a week for six weeks in a legal newspaper. The notice will be served on the occupant of the property. After the publication the property will be subject to a sheriff’s sale. At the sale the deputy will offer the property for sale at an auction; typically only the mortgage company will bid and will win the auction. That starts a six month “period of redemption”. During that six months “all” the mortgagor has to do is to pay the amount that the mortgage company bid at the sheriff’s sale, plus running interest and expenses paid, such as taxes and insurance. (In real life this usually means the mortgagor has to sell the property.) If the mortgagor does not pay during that six months, creditors with a lien on the property can pay the redemption amount. If no one pays the mortgage company, it becomes the owner of the property and then will list it for sale. The mortgagor loses the property, will likely be forced to move out, loses all their investment and monthly payments and any equity in the property.
Debt Collection
Harassing phone calls from debt collectors can substantially increase your stress level, ruin your sleep, strain your marriage, and generally make your life miserable. However, there are rules which third party debt collectors must follow. These rules are set out in the Fair Debt Collection Practices Act (FDCPA).