Posts Tagged ‘garnishment’

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.

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.

Words Pay NO Debts

Sunday, December 19th, 2010

Consumers may be mislead by promises  that if they pay an organization all of their debts can be eliminated without having to take any legal steps or that by paying a fee they can learn a few simple tips or rid themselves of unwanted debt.  The reality is that as Shakespeare pointed out “Words pay no debts.”  Eliminating debt is not simple and thinking so may lead to inattention to taking the necessary steps to improve an increasingly difficult financial situation.  Debtors often have complicated financial situations involving missed mortgage payments, credit card obligations, unpaid motor vehicle loans, crushing medical bills and other unpaid financial obligations.  These financial problems in turn have created situations where the debtor faces civil litigation, garnishment, repossession and foreclosure. A person who fears losing a home in foreclosure should not be lured into wishful thinking that a few simple tricks will stave off serious financial consequences.  Ignoring financial problems can not only lead to financial disaster, but complicated litigation.  Consumers should make up their mind to face the reality of the situation, which may include exploring bankruptcy as an avenue to follow to achieve debt resolution.  A consumer facing serious financial problems should seek out accurate information on debt relief.  This can be done by contacting a Twin Cities law firm that offers a bankruptcy service.  A Minnesota law office can arrange for a meeting with a bankruptcy lawyer who can do a bankruptcy evaluation with the means test.  This review of the situation will help a debtor to determine potential course to take to cut down or even eliminate debt.  It is important for consumers to act in a timely manner to see an experienced Minneapolis bankruptcy attorney or St. Paul bankruptcy attorney to find out the potential for  bankruptcy alternatives.  Whether a person lives in outstate Minnesota, greater Minneapolis, greater St. Paul or Wisconsin they may be able to find debt relief through legal assistance provided by an experienced lawyer.  Residents of Wisconsin have an additional option for consumer debt relief and debt elimination. Under  Wisconsin law a resident can have similar benefits to a personal bankruptcy discharge without declaring bankruptcy.  Instead of buying empty promises of an easy way out of debt it is far better for a consumer to take affirmative legal steps to stop the debt spiral by getting legal help from an experienced debt relief attorney.

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

The information contained herein on Chapter 7 and 13 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 Chapter 7 and 13 bankruptcies

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.