Is Bankruptcy Right for You?
People have always had a lot of fear, anxiety and questions about bankruptcy. Likewise, there has always been a great deal of confusion regarding bankruptcy's rules and process.
The bankruptcy reform enacted by Congress in 2005 created more fear, more questions and more confusion than ever. With time, however, it has become clear that most debtors who qualified for bankruptcy before the laws changed still qualify. Bankruptcy is still a viable debt relief solution for thousands of Minnesotans every year. If you are in over your head in debt, facing creditor harassment and need answers about bankruptcy in Minnesota, you have come to the right place. Prescott & Pearson, P.A., can help clear up your misconceptions about bankruptcy and life after bankruptcy.
What to Expect at Your Free Initial Consultation
When you visit us at Prescott & Pearson, P.A., the bankruptcy picture becomes much clearer. At the free initial consultation, together we will take a look at the debts you owe, the assets you have, your monthly budget and other factors. We can help you determine through the required means test whether you qualify for Chapter 7 or Chapter 13 bankruptcy, the two most common types of bankruptcy.
Minneapolis Bankruptcy Attorney · St Paul Debt Relief Lawyer
Offering Accessible and Responsive Client Service
If you decide that bankruptcy is right for you and would like our firm to help you file a petition, you will have one attorney serving as your main point of contact from the beginning of the process through its conclusion. If your attorney is in court, is attending a creditor meeting or is with another client, our support staff will be happy to help you in any way they can and your lawyer will get back to you as soon as they can. We are committed to providing the same level of service for each of our clients throughout the Twin Cities and statewide in Minnesota.
What Are Your Options?
After the initial screening, we'll be able to explain the available options. Once you have a good grasp of what bankruptcy really is, we will offer you our opinion as to whether or not bankruptcy is right for you and let you decide what course of action to take. We would also be happy to answer any questions you have about what to do and what not to do as you prepare for bankruptcy, and if it is right for you or your small business.
Let's Be Honest: Bankruptcy May or May Not Be Right for You
No one will try to force you into anything at our Minnesota bankruptcy law firm. In fact, if we don't think bankruptcy is right for you we will certainly be honest with you and advise you of your other options. Would debt settlement or true credit counseling be a better option for you? A detailed review of your financial big picture will help us give you our best advice.
Follow the links below to learn more about our bankruptcy law practice and how we can help you find true debt relief if bankruptcy is right for you.
What Are Exemptions?
- How can you protect your assets as you consider and approach bankruptcy?
- Can you keep your house and personal property such as furniture, china, jewelry, a boat and so on?
- Can you keep your car? What if you are threatened with car repossession?
- Is it true that bankruptcy can strip off second mortgages and stop foreclosures?
- Eligibility, taking into account your income, assets and debts
- How Chapter 7 works, including the debt discharge and the definition of debt discharge
- Advantages of Chapter 13, eligibility and how Chapter 13 works
- Key aspects and events in Chapter 13 bankruptcy: the plan and confirmation hearing and the discharge
Special Questions and Concerns About Bankruptcy and Debt Collection
- Credit card debts: Will you ever qualify for a credit card again if you file bankruptcy?
- Medical bills, perhaps stemming from a prolonged medical crisis in the family
- Student loans: Are they forgivable?
- Divorce: When is the right time to file bankruptcy when a divorce is also in the picture?
- The Fair Debt Collection Act: Can you sue your creditors for harassing you?
- What if your creditors file a lawsuit against you or garnish your wages?
- How will bankruptcy impact your credit?
- What if there are crediting reporting issues after your bankruptcy?
Stop Foreclosure · Stop Wage Garnishment · Call for a Free Consultation Today
- Minneapolis-St. Paul Area: 651-968-8096
- Minnesota Toll-Free: 888-366-0827
To learn more about consumer or small business debt relief options, the Chapter 7 discharge or Chapter 13 repayment plans, call or e-mail us today to schedule a free consultation.
