Many people dream of having a second chance at something important, a fresh start. The good news for people who are struggling with their personal debt is that the process of filing bankruptcy can allow for just that kind of new beginning.
The weak economy and the devaluation of the real estate market meant that many hard working people were unable to depend on the equity that they had always held in their homes. This loss of home equity when the housing bubble burst left many homeowners with mortgages that were now much higher than the value of their homes.
The businesses that have been downsizing or closing have had ripple effects throughout all sectors of the working public. Job losses and property value deflation together have sent more people than ever before scrambling just to make ends meet each month.
A consultation with the Minneapolis Bankruptcy Lawyer can help you focus on the most important issues that are affecting your personal finances. Talking to the attorney in a free, no obligation consultation in one of their offices or in your home can help you see if bankruptcy could provide you with the fresh financial start that you are seeking.
The laws require that all of your creditors immediately stop harassing you with their phone calls and letters once you have opened a case for bankruptcy. Once you are represented by the bankruptcy specialist attorney, you can breathe more easily because you are on your way to a calmer and less complicated financial life.
The Minneapolis Bankruptcy Lawyer is extremely familiar with the entire process of getting your case prepared for the court and the US Trustee. Your bankruptcy can be handled with your lawyer’s advice and the process is something that will get your money situation organized and completely inventoried.
A list of your assets and one of your liabilities will help you see exactly which debts you will be able to discharge in the bankruptcy. Your lawyer will be able to explain to you about certain categories of debt which you may wish to reaffirm in order to show a good payment history. This will vary depending on your sources of income.
Trust your experienced and understanding lawyer to guide you through the process as efficiently as possible.