Archive for August, 2010

Exploring bankruptcy

Thursday, August 12th, 2010

Loss of a job, legal problems, medical issues, business problems, family issues can all have a serious impact on a person’s financial situation. The recent hard financial times have caused many people to feel as though they are in over their heads in debt.   The feeling of drowning in debt can affect people in many ways.  For example, financial problems may lead to family difficulties including divorce.  It is unfortunate that money problems can spill over and be so destructive to a person’s life.  Fortunately there are potential ways to alleviate the pain of money difficulties.  Finding the right method of debt resolution is not always an easy process, but it can be done more expeditiously by meeting with an experienced debt relief attorney who understands the various options that may be available to help consumers in financial distress.  There can be many different causes for feeling as though you are drowning in debt including being the victim of a financial trap, predatory lending practices, being in serious arrears on large bills, spending habits that exceed available income or having incurred huge medical expenses.  A meeting with a Minnesota debt resolution attorney can allow a consumer to get an evaluation of his or situation as well as information related to debt relief options including bankruptcy.  Each consumer has his or her own situation that may warrant differing potential options.  For example, a debtor in Wisconsin may have available to him or her relief either under the Wisconsin state law or Federal bankruptcy law.  It is important for consumers to get accurate information to assess their situation.  Timeliness is of the essence in not only avoiding repossession, but other problems as well.  Serious delinquency of payment can lead to judgments which in turn may lead to garnishment of wages.  A huge problem for many people in recent times is long overdue home loan payments that lead to foreclosure.  At a meeting with a bankruptcy lawyer the consumer can explore his or her potential eligibility for debt relief help.  Sometimes that debt relief may take the form of going after a creditor who has used predatory business practices.  At other times, people living in “Wisconsin may avail themselves of debt relief provided by Wisconsin (WI) state law.  Many people who are experiencing financial difficulties due to large unpaid bills, mortgage payment difficulties, and/or credit card debt.  Many of these types of debt can be helped through bankruptcy including unmanageable medical bills.  Consumers may find legal assistance through either a chapter 7 or chapter 13 bankruptcy.  The first step in finding that legal assistance is meeting with an experienced bankruptcy lawyer.

Consumer bankruptcy laws

Wednesday, August 11th, 2010

Debtors often ask about the laws covering a consumer bankruptcy. The reality is that the term “consumer bankruptcy” can refer to either chapter 7 bankruptcy or chapter 13 bankruptcy under the federal law. These two types of personal bankruptcy are the common options available to people who have a great many unpaid bills that cannot be paid. There is a great deal of law covering these types of bankruptcies. A consumer who is interested in possibly declaring bankruptcy should make sure to understand all relevant bankruptcy laws before making the important decision to try to file for bankruptcy.

Some of the significant legal requirements are that a consumer seeking bankruptcy qualify under prevailing bankruptcy law standards, be able to show adequate identification, provide full disclosure, give all information asked for in bankruptcy paperwork, fully cooperate with the bankruptcy trustee, attend all bankruptcy meetings, do all acts required by the bankruptcy court, fulfill debtor counseling and education.

Consumers often get the mistaken notion that filing bankruptcy involves simply filling out some forms and filing them with the bankruptcy court, but that is not the case. Declaring bankruptcy is a
very serious matter that requires a commitment by a debtor to providing a full explanation of his or her financial picture including income, monthly expenses, income, assets and other relevant financially related data. The legal paperwork must be complete and accurate in all respects. A consumer must be prepared to the meeting of creditors and be questioned on relevant concerns related to his or her desire to declare bankruptcy. Consumers who are qualified and properly fulfill all bankruptcy requirements have the potential for a fresh start.

We are a debt relief agency. We help people file for bankruptcy protection.

Feeling helpless to end creditor harassment?

Friday, August 6th, 2010

Often debtors express feelings of helplessness about what they consider to be harassment by creditors. Debtors should not automatically assume that they have no legal rights and that a creditor can do anything he or she wants to do. Creditor’s do have legal limits put on them that may be helpful in some circumstances to a debtor. A debtor who feels hounded by a harassing creditor can seek out legal help from an experienced Minnesota debt relief attorney. Each individual debtor situation must be evaluated on its own merits. A Minnesota lawyer may help evaluate a debtor’s situation to see if there are any state and/or federal laws that may apply to provide relief from acts by a creditor. Among the consumer rights laws that may apply under certain circumstances is a federal law called the “Fair Debt Collection Practices Act” that provides important protection to consumers. If a debtor is experiencing severe financial difficulties he or she may also consider debt relief through filing bankruptcy. Debtor’s who are interested in pursuing debt relief through bankruptcy should meet with an experienced bankruptcy lawyer who can provide legal assistance to them in evaluating their eligibility for declaring bankruptcy.

We are a debt relief agency. We help people file for relief under the bankruptcy code.