Is bankruptcy right for me?
Minnesota Bankruptcy Attorney
Although an experienced Minnesota bankruptcy lawyer works hard to provide you with many viable alternatives to bankruptcy, Heimerl & Lammers firmly believes that the financial decisions which greatly affect your future should ultimately be made by you. If you do not have, however, complete and factual information on which to base your decisions, they can prove to be faulty.
Filing for bankruptcy is solely a financial resolution, based on an accurate assessment of the amount of debt you owe, your income and what you are actually able to pay. It should not be made based on an emotional response to a pressure filled or worrisome situation. There are many bankruptcy myths which can prevent a person from using this form of debt resolution but bankruptcy is simply a method by which you can be relieved of all or a portion of your debts in order to achieve a new financial start.
The Advantages of Bankruptcy
In order to make an informed decision, it is important to know some of the benefits of bankruptcy and how they can work to your advantage as follows:
- Bankruptcy makes it so that you are no longer legally obligated to pay all or a certain amount of the debts that you owe
- It stops the home foreclosure process, providing you with the time needed to catch up on mortgage payments
- Bankruptcy prevents or halts wage garnishment
- It stops your utilities from being shut off or gets service restored if it has been cut off
- In some cases, allows you to prepare and execute a realistic plan to pay your debts off within a certain timeframe
- It stops creditor harassment or any attempts by creditors to collect on your debts
- Provides an opportunity for you to stop creditors who are trying to collect more than you owe or who are making false claims regarding your debts
- It prevents your property from being repossessed or can make creditors return property that was previously taken
We strive to help you with the bankruptcy process, from beginning to successful conclusion. It starts with giving you the information needed to make a wise decision and once that is done, work can proceed towards a better financial future.
To find out if bankruptcy is right for you, contact a Minnesota bankruptcy attorney to obtain complete and factual information.