Fear Of New Bankruptcy Law

There is a mistaken notion among some consumers that the so called new bankruptcy law eliminates personal bankruptcy.  This is not the case.  Consumer’s should not fear  the new bankruptcy law.  While the bankruptcy reform act, which many refer to as the new bankruptcy law, made numerous changes to the bankruptcy code, the truth is that most people will still be able to qualify for either a chapter 7 bankruptcy or a chapter 13 bankruptcy.  In assessing whether an individual or a husband and wife can qualify for bankruptcy, it is important to understand the qualifications and requirements that apply to each type of bankruptcy and how those qualifications and requirements apply to each person’s financial situation.  Listening to the myths about the bankruptcy law changes instead of meeting with a knowledgeable and experienced bankruptcy lawyer to discuss debt problems can be harmful.  Another common misconception is that it is extremely difficult to file bankruptcy.   This is not accurate.  While it is true the bankruptcy code can be complicated and that it may be difficult to understand how the bankruptcy code applies to a particular individual’s situation, the reality is that it is not extremely difficult to file bankruptcy.  Filing bankruptcy, however, does require a commitment on the part of the consumer to provide complete and accurate information so that the documents necessary to file for bankruptcy can be properly and accurately prepared.  The  bankruptcy process can be made easier by the assistance of an experienced Minneapolis bankruptcy lawyer or St. Paul bankruptcy attorney who understands what  is needed for each type of bankruptcy.  It can be very useful for a consumer experiencing deep financial problems to contact a Twin Cities law firm who can arrange for him or her to meet with a Minnesota bankruptcy attorney.  A meeting with an experienced Minnesota lawyer may be the first step to debt resolution.

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

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