Posts Tagged ‘qualified for bankruptcy’

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.

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.