Posts Tagged ‘debt relief’

Factors Leading To Consideration Of Bankruptcy

Sunday, February 20th, 2011

There are many factors to be considered in regard to a debtor’s situation before deciding to pursue a bankruptcy. Some of the salient factors regarding the debtor are all available income, ownership of a homestead, all non-homestead significant assets, dollar valuation for all the assets including the homestead, the secured debts, the unsecured debts, the total number of debts, the total in dollars of all debts, how far behind the debtor is on payments due on debts, the ability of debtor to meet monthly payment on debt, any co-debtors, major assets of the debtor, whether an asset is security for a debt, the desire of a debtor to discharge or pay back debt, whether the debtor faces any immediate threat such as foreclosure, repossession, garnishment or other legal action. All of the facts and documents reviewed must be considered in light of applicable bankruptcy law to determine whether a debtor qualifies for bankruptcy protection.  A debtor interested in gathering information on pursuing bankruptcy can consult with a Minnesota bankruptcy attorney who can do a bankruptcy evaluation with the means test.

This blog does not intend to give legal advice and does not do so.  The reading of this blog does not establish an attorney-client relationship or substitue for consulting with a licensed lawyer.

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

Real Estate Debt Problems

Friday, February 18th, 2011

Real estate debt related problems are not uncommon.  They can take many different forms from simply being behind on mortgage payments to complicated multiple real estate holdings that have huge amounts of money owed on them.  It is not unusual for people to complain that they are upside down on their land holdings or in other words they owe more on the real estate that it is worth if sold on the market.  The problem with being upside down on a home is especially distressful to many people since  their home is the largest investment they will ever make.   They sometimes cannot afford to make payments on it yet cannot sell it and get enough money to pay off existing debt on it.  The problem is further compounded by fearing that if they lose their house they will not only have credit problems but no where to live.   Sometimes people experiencing real estate problems fail to seek out legal advice in a timely manner.  Bankruptcy relief that will help real estate debt problems may be available for eligible debtors.  Similarly some people fail to get legal help before buying real estate only to later learn that there are problems with owning it.  Since real estate for many people is  their largest investment it is important not to put it in jeopardy or run the risk of future problems by failing to take the necessary steps to protect that asset.  Whether a person is  selling real estate, buying real estate, leasing real estate or has problems related to real estate it is a sound idea to get legal advice from a licensed lawyer.  Homeowners or commercial real estate owners often procrastinate in attending to growing debt on real estate until faced with  losing it in foreclosure.   A more useful approach is to get legal assistance to stop the loss of a home or real estate before foreclosure.  Prompt attention to dealing with real estate problems may lessen the chance that it will be lost in foreclosure and in some instances provide a person a chance for a new beginning.

This blog is not intended to give legal advice and does not do so.  Reading this blog does not crete an attorney-client relationship or substitute for consulting with a licensed lawyer.
We are a debt relief agency.  We help people file for relief under the bankruptcy code.

Home Business Creating Financial Difficulties

Sunday, February 6th, 2011

Consumers may be driven into declaring bankruptcy by many different types of financial difficulties.  One of these difficulties may be stuck with a home business that does not earn sufficient income to warrant the time and expense to run it.  A home business can be a drain on a person’s resource.  Before starting a home business it is important to do a thorough cost benefit analysis of it.  It is also important to keep in mind that there are unscrupulous entities that take advantage of potential home business owners by offering financial traps under the false guise of a business opportunity.  This type of deceptive home business program often promises for the home business owner to make huge profits working just part-time.   Carefully investigate before buying a business program the seller’s credibility, the success rate in the past of people buying the business plan, complaints that have been filed against the seller, how much money it will cost to get started, what the potential exposure to claims against the home business owner if the program is not as represented, how much time will need to be invested weekly to do business, how much time it will take monthly to run the business, what the monthly cost will be to do the program, what are your expected monthly earnings from the business, what insurance costs there may be to run the business, what licenses may be required, what bookkeeping is required, what legal requirements must be met, legal expenses and what paperwork will be required to sign to start this business.  If a consumer is already stuck with a home business program that is a huge drain he or she should contact a Minnesota attorney to evaluate the situation to see what can be done to address the problem.  An experienced Minnesota attorney may be of assistance in a number of ways including the potential for civil litigation or debt relief.   If the consumer has been a victim of fraud or breach of contract and has moved within applicable time limits he or she may be able to pursue a claim against the seller.  There may also be another type of legal help available for a home business program that is a financial drain through bankruptcy if the debtor is eligible under prevailing law.  It is a sound idea to consult with a Minnesota lawyer to find out what legal assistance may be available to help when faced with business and/or debt related problems.

This blog is not intended to give legal advice and does not do so.  Reading this blog does not establish an attorney-client relationship nor is it a substitute for consulting with a licensed lawyer.

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

Losing Property For Failure To Make Required Payment

Saturday, February 5th, 2011

Losing property for failure to make require payments is a common concern of debtors.  People who have bought property on installment payments face serious consequences such as repossession if they do not make all required payments.  Debtor who do not make payments on time often face multiple legal problems at the same time including civil litigation, repossession, replevin, garnishment and foreclosure. Some debtors ignore the fact that they are behind in payments while others day dream that they will hit a jack pot and pay off all their debts.  Neither approach may be helpful in keeping a creditor from taking property by repossession.  A sound idea when there is a concern about losing property for failure to make payments is to see a Minnesota lawyer who can provide debt relief information.  At that time the debtor can explore bankruptcy alternatives.  If he or she is qualified for bankruptcy there can be a discussion of suitability of proceeding for debt relief under Chapter 7 or Chapter 13 of the bankruptcy code.

The information you obtain in this article is not, nor is it intended to be, legal advice. The reading of this article does not establish an attorney-client relationship.  This article is not a substitute for consulting with a licensed attorney.  You should consult an attorney for advice regarding your individual situation.

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

Facing The Loss of Property Through Repossession

Saturday, February 5th, 2011

People who are deeply in debt often miss installment payments on property that they have acquired.  When a debtor fails to pay all required payments on property they have purchased there is the potential for the creditor to pursue repossession as a recourse for non-payment. Repossession is commonly explained as an occurrence that happens when a creditor takes back property because the buyer has not made all required payment.  This taking back of property can be a tremendous financial jolt to a debtor.  It often happens because a debtor has missed required payment on an installment agreement to purchase property.  This failure to pay may be based on a number of reasons including just not having enough money to pay all necessary bills, unfair practices of a lender and/or investments turning bad.  Money related problems can have a negative effect on a person’s life in many different ways.  Rather than despair over the threat of repossession a person should move assertively forward to address the problem by seeking a resolution.  Discussing financial issues with an experienced licensed debt relief lawyer may help relieve anxiety and provide a start to possibly resolving  not only the threat of losing property to repossession but overall debt difficulties..

The information you obtain in this article is not, nor is it intended to be, legal advice. The reading of this article does not establish an attorney-client relationship.  This article is not a substitute for consulting with a licensed attorney.  You should consult an attorney for advice regarding your individual situation.

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

Getting Reliable Bankruptcy Information

Thursday, January 13th, 2011


People experiencing debt pressures sometimes rely on faulty information in assessing what can be done to make the problematic situation better.  There are a lot of bankruptcy myths if believed can destroy the initiative to make positive changes in the financial situation.  Rather than rely on unreliable gossip, misinformation or myth a debtor should turn to a Minnesota lawyer who is experienced at providing legal assistance to consumers who have financial difficulties.   A consumer who needs bankruptcy information can contact a Twin Cities law firm that handles bankruptcy.  A Minnesota bankruptcy attorney can provide legal help to a consumer who feels severe financial pressures and wants to explore potential debt relief by giving accurate debtor information and if the person is eligible providing legal help in filing for bankruptcy.  A Twin Cities bankruptcy attorney can help a person who is overwhelmed with debt related pressures including harassing creditors, judgments, repossession, garnishment and foreclosure.  A knowledgeable Minneapolis bankruptcy attorney or St. Paul bankruptcy attorney can do a bankruptcy evaluation that includes the means test for a person that will help them better determine eligibility for debt relief.  Rather than let worry over financial matters cause continued anxiety and pressure a debtor can get straight answers and explore debt relief avenues with an experienced  bankruptcy attorney that will allow for a new beginning.

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

Ways Of Handling Money That Can Lead To Bankruptcy

Sunday, January 9th, 2011

There are ways of handling money that can lead to a need for debt relief.  These financial approaches by consumers are common causes of personal bankruptcy.  The following ways of handling money can lead to serious financial problems including the need to declare bankruptcy:
•    Making purchases based on what you want rather than what you need.
•    Making large purchases that are beyond your current ability to pay for them.
•    Purchasing things under payment arrangements that call for high interest rates.
•    Purchasing items with a credit card that you cannot afford to pay for with cash.
•    Utilizing a credit card to pay on a bill and/or bills due on other credit cards
•    Inattention to the interest rate that a credit card carries with it.
•    Spending beyond the credit limit set by an account and incurring charges for being over the limit.
•    Being late on paying your credit card causing late fees to be charged.
•    Paying only the minimum payment due on a credit card.
•    Failing to keep have savings funds to cover a financial emergency
•    Not making mortgage payments on time
•    Failure to make timely motor vehicle payments
•    Not following a monthly budget for regular expected expenses.
•    Spending more money yearly than income that is received.
•    Procrastinating on try to improve and/or eliminate debt problems

Some people put off attending to money problems with the idea that things will get better over time.  This approach may lead to even more serious financial problems as time goes on.  Money problems should be promptly attended to by a consumer.  Procrastination on attending to money problems can lead to judgments against a consumer, garnishment, repossession and foreclosure. If a consumer finds that his or her resources are insufficient to deal with the problem then professional legal assistance should be sought to deal with the situation.  Consumers who are considering bankruptcy can contact a Twin Cities law firm that has a bankruptcy service.  The law office can set up a meeting for the consumer to discuss bankruptcy with a Minneapolis bankruptcy attorney or St. Paul bankruptcy.   A meeting with a Twin Cities bankruptcy attorney can be useful in determining potential avenues of relief.  At a meeting with a bankruptcy lawyer there can be a discussion of bankruptcy alternatives.  A consumer can at a meeting with a Minnesota bankruptcy attorney to  explore potential legal help including relief under Chapter 7 or Chapter 13 of the federal bankruptcy law or, if a consumer is a Wisconsin resident under Wisconsin Chapter 128. People who face serious debt problems should not procrastinate, but rather move promptly to find a way to improve the situation.

This blog is not intended to give legal advice and does not do so.  The reading of the blog does not establish an attorney-client relationship.

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

Limits on Creditor Collection Efforts

Wednesday, December 29th, 2010

Consumers often complain about the alleged lack of  protection against creditor collection efforts.  In reality creditors do not have unlimited rights in pursuing collection.  A debtor does have legal rights.  It is important for debtors to understand that there are legal limits on creditors.  A creditor must still act within the confines of the law in dealing with a debtor.  A consumer has  legal rights such as the right to defend against spurious claims, pursue a breach of promise by a creditor, challenge accounting errors, pursue fraud claims and defend against legally unacceptable behavior by collection agencies.   Consumers who have been legally wronged by a creditor may have a basis to pursue civil litigation.   Debtors may also be eligible for debt relief that could lead to a new beginning for them.  Consumers who feel the sting of harassing collection efforts can contact a Twin Cities law firm that has a bankruptcy service to set up a meeting with a Minneapolis bankruptcy attorney or St. Paul bankruptcy attorney who can provide debtor information.  A  Minnesota bankruptcy attorney can go over with a debtor the legal limits on creditors and can assist a consumer evaluate legal options that may be available to receive debt relief.  An experienced Twin Cities bankruptcy attorney can discuss bankruptcy alternatives with a consumer.   A qualified consumer can pursue bankruptcy if desired as a form of 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.

Bankruptcy Assessment In Minnesota

Sunday, December 26th, 2010


A person or couple who want to do a bankruptcy must be eligible to do so under prevailing bankruptcy law.  In looking at declaring a bankruptcy there should be a bankruptcy assessment which is a review of a person or couple’s financial situation.  The bankruptcy assessment is an evaluation of a person’s financial situation to determine if he or she are qualified to file bankruptcy. At the time of conducting the bankruptcy evaluation the twin cities bankruptcy attorney can also conduct a bankruptcy means test.   Debtor’s troubled by growing financial pressures can seek out potential debt relief through the legal help of a Minnesota bankruptcy attorney who can conduct a bankruptcy assessment.  A person or couple can set up a time to meet with a Minneapolis bankruptcy attorney or St. Paul bankruptcy attorney who will go over the relevant financial situation to help a person considering doing a bankruptcy. At that meeting with a bankruptcy lawyer some of the considerations will be debt a consumer  may owe on both secured and unsecured assets, what assets are  owned and what is owed on the asset, ability to meet current obligations, threat of repossession, garnishment and/or foreclosure.   A Twin Cities law firm who offers a bankruptcy service is a good place to start to look for a Minnesota lawyer who can do a bankruptcy evaluation and provide legal assistance with doing the bankruptcy  if the debtor is qualified to do so.

This blog is not intended to provide legal assistance and does not do so.

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