Posts Tagged ‘debt resolution’

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.

Exploring Debt Resolution Avenues

Tuesday, December 14th, 2010

Today’s tough economic times can be extremely hard on consumers.  Creditors often fail to recognize that a debtor may be trying hard to pay bills and will do so, but needs a little flexibility to do so.  Unfortunately, many creditors are not willing to recognize this need for flexibility and/or be reasonable in working toward making workable payment arrangements.  Consumers need not despair because there may be debt relief.  It is often a worthwhile pursuit to explore debt resolution avenues.  There are  Minnesota law offices that offer a bankruptcy service that can help debtors review bankruptcy alternatives.  A Minneapolis bankruptcy attorney or St. Paul bankruptcy attorney can go over a consumers financial situation and help determine what the potential is for debt resolution.  who understood the legal difficulties encountered by debtors. These twin cities bankruptcy attorneys have assisted many debtors with financial legal difficulties and helped them assess available bankruptcy alternatives. When people are having problems making ends meet, it is important that they are well informed about all legal remedies for debt relief, including bankruptcy alternatives.  No  two situations are alike so  that every consumer’s situation requires a careful analysis of the facts and appropriate laws that come into play.  A Minnesota  attorney can  provide sound counsel to help alleviate a debtor’s financial problems, including:

If a consumer can not get debt resolution by one of the forgoing legal approaches then he or she can  also explore whether filing a Chapter 7 or Chapter 13 bankruptcy would be helpful.  In order to do so a consumer must however, be qualified under the law to do so.  A Minnesota bankruptcy lawyer can do a bankruptcy evaluation with the means test to help a debtor find out his or her eligibility for filing bankruptcy. Timely attention to dealing with debt related  legal problems may result in satisfactory debt resolution.

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

Walking Away From Debt

Tuesday, November 23rd, 2010

There is a common misconception that a person can just walk away from debt without any legal authority to do so.  The reality is that this approach not only may not get a person out of debt, but aggravate the situation.  It is understandable that a consumer could need help dealing with various forms of debt that  either singly or in combination are causing problems for him or her, but simply walking away from may be delaying an inevitable aggressive collection efforts by a creditor and creating a damaging credit history .  There are many types of problematic debts 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.   These debts can arise from many different situations including the purchase of a  home, motor vehicle, credit card or agreed upon financial obligation such as medical bills.   Any of the forgoing types of debt claims can create serious financial pressures for a consumer.  The debtor must realize however, that putting off dealing with a debt in the present may make for more painful financial pressure in the future.  Walking away from debt can lead to further harassing communications from a creditor,  a loss of credit and credibility.  A consumer must keep in mind that a track record of handling financial obligations may follow them for years.  Walking away from debt may result in serious problems including an inability to get further credit or get a loan for an important purchase when it is very important to do so.

Consumers who are concerned with serious inability to pay financial obligations may be eligible for debt relief through bankruptcy. A Minnesota Bankruptcy attorney can be consulted about available avenues for debt resolution.  There can be a discussion of bankruptcy alternatives.   A multitude of financial pressures can be discussed with the Minnesota bankruptcy lawyer including home loans, credit cards, medical bills, delinquent car loans, contract disputes, lease claims, and damage claims related to the use or ownership of an automobile.  Twin Cities bankruptcy attorney will discuss with you relevant financial pressures, do a bankruptcy evaluation including a means test and go over the different types of bankruptcy proceedings, such as Chapter 7 and Chapter 13.  At that time, the Minneapolis bankruptcy attorney or St. Paul bankruptcy attorney can explain whether a consumer is  qualified for debt relief through bankruptcy.   The lawyer  can go over relevant law involved in dealing with a consumers outstanding debt an answer legal questions that are related to the legalities involved in the situation.   At a meeting with a bankruptcy lawyer there can be a discussion of many financial concerns such as financial pressures including, foreclosure, garnishment and/or repossession.  A consumer who faces more than one legal difficulty should contact a Twin Cities Law Firm that can provide legal services in all of the areas of the law that are of concern. . For example, a Minnesota law office may be able to provide legal assistance with legal problems involving home ownership, a business, employment, divorce, personal injury, probate, discrimination, sex harassment, civil litigation, DWI or Criminal charges.     A consumer facing more than one legal difficulty should inquire when setting up an appointment if he or she can meet with a lawyer who can handle all of the types of legal matters of concern.  Dealing  correctly with present financial problems with the legal help of a Minnesota lawyer may eliminate a great deal of aggravation in the future and allow for debt resolution.

The information you obtain at this blog is not, nor is it intended to be, legal advice.

This post does not constitute the giving of legal advice or establish any attorney-client relationship. You should consult an attorney for advice regarding your individual situation.

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