Posts Tagged ‘Chapter 7’

Fear Of New Bankruptcy Law

Saturday, January 1st, 2011

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.

Harrassing creditors

Monday, December 27th, 2010

Harassing contacts by creditors is a common problem for debtors experiencing severe financial problems. Despite common misconceptions there are laws that apply to how creditors treat debtors including  the FTC, Fair Debt Collections Practice Act.  Debtors often complain because  of receiving calls based on being behind on payments.  A collector may, if a debtor is  behind in payment on a debt, call that person.   Built into the Fair Debt Collections Practice Act are, however, some limitations. The Fair Debt Collection Practices Act requires that the debt collectors treat the debtor reasonably and not use unfair debt collection methods.   A debt collector should not be communicating with a consumer at times that are inconvenient times or locations. For example, a debt collector should not be contacting you very early in the morning or very late at night. Nor should a debt collector be contacting  a consumer at work when it is understood by the collector that his or her employer does not approve of the consumer receiving contacts from debt collectors.  Unfair treatment by a bill collector does not, however, automatically cancel a debtor’s duty to pay a bill.    Consumers often fear that the collector will be discussing them with that person’s neighbors, co-workers and friends.  A debt collector should not be discussing a consumer’s debt situation with that person’s neighbors, co-workers or friends. If the debtor has  retained an attorney, however, the debt collector should be dealing with that lawyer.  Consumer’s who are experiencing problems with harassing creditors should contact a Twin Cities law firm that offers debt relief help.  That Minnesota law office may provide a bankruptcy service for people who are desirous of pursuing a consumer bankruptcy.   The debtor can set up a meeting with a Minnesota lawyer who can go over debtor information that may be helpful in addressing the problem with harassing communications from creditors.  If the consumer is considering bankruptcy at a meeting with a bankruptcy lawyer there can be a dissuasion of debt resolution under a Chapter 7 or Chapter 13 bankruptcy.  Debtors who are interested in exploring bankruptcy can have a bankruptcy evaluation with the bankruptcy means test at a conference with a Minnesota bankruptcy attorneyLegal help can  provide relief from harassing creditors.

He who rides the tiger finds it difficult to dismount

Sunday, November 28th, 2010

People who are deep in debt often find that they feel like what is expressed in the Chinese proverb, he who rides the tiger finds it difficult to dismount.  Ever increasing debt makes a person sometimes feel like he or she has to borrow more money just to make payments on existing debt.  The person keeps riding  the debt cycle deeper  into financial trouble.  There does not seem to be any way to get off the this cycle of debt without getting into big trouble.  If the debtor gets off the tiger then he or she will be destroyed by it.  This fear of financial destruction can make things seem far worse than they may be under the circumstances.  Rather than continue to ride the debt cycle a consumer should explore potential debt relief.  A sound approach to doing so is to contact a Minnesota law firm that offers bankruptcy service.  This type of legal service may provide information to a consumer on bankruptcy alternatives.  If a debtor is considering bankruptcy then getting debtor information that is accurate is very important.  Personal bankruptcy is a complex legal process, and can be undertaken more easily with the legal help of an experienced Minnesota bankruptcy attorney.  There is more to declaring bankruptcy then just filling in some forms.  It must be done properly or a debtor may end up with a  failure to discharge qualifying debts — and potentially  legal action if  he or she knowingly presented false financial information.   A Twin Cities law firm can arrange for a meeting with a Minnesota lawyer who can help a consumer explore avenues of  debt relief  including bankruptcy.  The consumer can have a meeting with a bankruptcy lawyer and go over his or her financial situation.  At the meeting the consumer can learn about debtor’s rights, get basic bankruptcy information, have relevant bankruptcy questions answered, learn about the meeting of creditors in bankruptcy, status of property in bankruptcy, exemptions, bankruptcy rights and responsibilities.  By working with an experienced Minneapolis bankruptcy attorney or St. Paul bankruptcy attorney it can help a debtor to better understand the bankruptcy process.  If the consumer after a bankruptcy evaluation including the means test is found to be eligible for bankruptcy and wants to do so then legal help from an experienced Minnesota attorney can be very helpful.  The bankruptcy lawyer can  prepare accurate legal paperwork, make sure all eligibility requirements have been met, assist in choosing  the right type bankruptcy and that the consumer meets all legal requirements through the bankruptcy.  A qualified debtor for bankruptcy will want to explore potential debt relief offered through Chapter 7 or Chapter 13 bankruptcy.  An experienced bankruptcy lawyer can aid in making sure that the consumer chooses the right type of bankruptcy under the circumstances.   Affirmatively moving forward to get legal assistance with debt problems can lead to a fresh start.

We are a debt relief agency.
We help people file for relief under the Bankruptcy Code.

The information contained herein on debt relief and/or bankruptcy does not constitute the giving of legal advice. The reader should not rely on this information. This information does not substitute for the advice of a licensed lawyer related to debt relief, Chapter 7 and 13 bankruptcies or any other legal subject.

Dealing With Motor Vehicle Loan Difficulties

Sunday, November 21st, 2010

Car loans or other motor vehicle loans can become huge problems for consumers.  It is true that when a person goes to buy or lease a car they are often told how affordable a motor vehicle is by a business selling it.  Affordability is a relative things.  What is affordable for one person may not be  to someone else.  Each person needs to carefully look at his or her income and budget before seriously considering purchasing or leasing a vehicle.  Any such consideration also needs to take in mind how stable the source of income is that may be used to make payments.  Some people make the mistake of buying or leasing a motor vehicle with the idea that they will always be able to afford it.  If a person knows there is a likelihood that his or her income is going to go down or end in the near future buying a new car, truck or motorcycle does not make sense.  It makes even less sense to buy a hobby vehicle if income looks to be threatened in the future.  After purchasing or leasing a motor vehicle a consumer may experience problems paying on that debt.   Problematic motor vehicle debt  may take various forms either singly or in combination including past due installment payments, unpaid lease payments, disputes with lenders on the amount of debt owed or money claims for damages related to the ownership or use of a motor vehicle. Any of the forgoing types of debt claims can create serious financial pressures for a consumer. An experienced Minnesota bankruptcy attorney may be able to  provide to a consumers debt relief help. Consumers who are concerned with automobile or other motor vehicle related debt can look at bankruptcy alternatives.  Understanding the potential for debt resolution under the law can be difficult to understand so it is helpful to get legal assistance from a Minnesota lawyer who is familiar with different approaches to resolving debt difficulties.  If a person believes that declaring bankruptcy is a solution then they need to understand that there are many factor that need to be reviewed in considering bankruptcy.   A consumer needs to understand that just wanting to do a bankruptcy is not enough he or she must be eligible for debt relief under the United States Bankruptcy Laws.   There is a common bankruptcy myth that the new bankruptcy law has destroyed consumers rights, but that is not true.  A qualified debtor can still get debt relief under the new bankruptcy law.  Consumers desiring bankruptcy information should contact a Minnesota law firm to get a meeting with a Minnesota bankruptcy lawyer.   A Twin Cities law firm can set up an in person consultation for the consumer with a Minneapolis bankruptcy attorney or a St. Paul bankruptcy attorney.  At the meeting with the bankruptcy lawyer the consumer can go over his or her financial situation, do a bankruptcy evaluation and get answers to common bankruptcy questions. A multitude of financial pressures can be discussed with the Minnesota bankruptcy lawyer including delinquent car loans, contract disputes, lease claims, and damage claims related to the use or ownership of an automobile. The bankruptcy lawyer will discuss with you relevant financial pressures, conduct a means test and go over the different types of bankruptcy proceedings.  Consumers can discuss each of the financial difficulties that they face including credit card problems, mortgage payment difficulties and unpaid medical bills.  Any creditor collection activity can also be discussed including repossession, foreclosure, garnishment or harassing telephone calls.  Consumers who face problems paying motor vehicle loans also often have concerns with losing their home because of non-payment on debt.  In talking with a twin cities bankruptcy attorney it is a sound idea for the consumer to fully disclose all debts and money pressures so that there can be an accurate appraisal of the situation.  There can be a discussion with the lawyer of  Chapter 7 considerations and Chapter 13 considerations.   A bankruptcy evaluation which includes conducting the means test should give a consumer an understanding whether he or she qualified for bankruptcy.  At that time, the Minnesota bankruptcy lawyer can explain whether a consumer is qualified for debt relief through bankruptcy.  If so then the consumer can explore the potential for debt relief under Chapter 7 and Chapter 13 bankruptcy.   Consumers facing other legal problems as well such as family law matters, employment, attacks on occupational license, business set backs, civil litigation, DWI or criminal charges should make sure to get an appointment with a lawyer who also understands these other legal services as well.  Getting debtor information can be very helpful to a consumer in trying to address financial difficulties.

This blog is not intended to give legal advice and does not do so.

We are a debt relief agency. We help people file for relief under the Bankruptcy Code.