From ancient times forward, societies have had different ways of dealing with debtors. Usually they were quite punitive and based on the faulty presumption that people acquire debts from some sort of moral failing. Fortunately, modern bankruptcy law has done away with these cruelties and provided bankruptcy as a means to start over. Debt bondage
The three types of bankruptcy that people can file for are Chapter 7, Chapter 12, and Chapter 13. A Minnesota personal bankruptcy attorney can evaluate your financial situation and advise you which type of bankruptcy best fits your circumstances. Chapter 7 bankruptcy Chapter 7 bankruptcy is sometimes referred to as liquidation bankruptcy. However, it isn’t
After months or years of struggling with debt, you have decided that the only way to attain financial relief is to declare bankruptcy. By following these steps, you can ensure that the process goes smoothly from beginning to end. Gather your financial information Your attorney will give you a complete list of things you need
While each individual’s financial situation is unique, there are valid reasons that cause one to consider filing bankruptcy. In many of these cases, this is the wisest course of action to take. This is not to say that bankruptcy is a decision that should be made lightly. A person considering bankruptcy needs to understand there
Declaring bankruptcy can be a humiliating and distressing experience for people. People who have made the decision to file for bankruptcy do not need to suffer the added stress of creditor calls. Creditors can be relentless in calling individuals who have fallen behind on payments. You may receive multiple calls at your home and work
The Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) of 2005 made major changes to previous bankruptcy law. Among these changes, BAPCPA added the requirement that debtors receive pre-bankruptcy credit counseling from an approved credit counselor within 180 days of filing for bankruptcy. After attending the mandatory counseling, the counseling organization issues a certificate as
In 2005, congress passed the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA), which made major changes to existing bankruptcy law. One of these changes included the addition of a requirement that debtors receive post-bankruptcy financial education from an approved credit counselor or counseling organization. After meeting this education requirement the attendee is issued a
At Behm Law Group, LTD, we see people from all different walks of life, and generally they have one thing in common—they’re desperate. Declaring bankruptcy is the last thing most people want to do; however, many feel that they have no choice. Perhaps you’re feeling financially stressed, maybe even desperate. Do you need to file
Simply answered, yes you can. If an individual meets the eligibility requirements of filing bankruptcy in the state they reside in, one can file bankruptcy themselves. That being said, bankruptcy laws are complex and change frequently, and the process can be challenging to navigate without guidance from an experienced bankruptcy lawyer. If you attempt to
The process of filing for bankruptcy can and should be a very smooth and relatively quick one. What generally slows and complicates the process is if the individual does not have the required paperwork in order. Prior to filing bankruptcy, there are a number of supporting documents that must be submitted. Until these documents are
