Did 2017 wreak havoc on your finances? 2018 is almost here; while you’re stocking up on champagne, decorations, and party hats to ring in the new year, you probably can’t believe that 2017 has come and gone so quickly. As you sit down to write out your resolutions for 2018, have you thought about what you can do in the New Year to finally get rid of your debt for good?
Like any New Year’s resolution, being determined to erase your debt takes some homework and planning. You may know that filing for bankruptcy is the best way to eliminate your debt, but are probably at a loss as to which type of bankruptcy is right for you and what bankruptcy law firm is going to give you the best results.
At Kain & Scott, we realize the importance of eliminating your debt and understand that picking the right bankruptcy law firm is a big decision. To make your selection easier, we’ve outlined some basic information about Minnesota bankruptcy and highlighted some of the reasons that we are Minnesota’s leading bankruptcy law firm.
Minnesota bankruptcy explained
You may have heard that bankruptcy eliminates your debt, but did you know that only some types of debt are eligible for bankruptcy discharge?
Most unsecured debt can be eliminated with bankruptcy: unsecured debt means that the debt is not tied to collateral, unlike the mortgage on your house or loan on your car. While unsecured debt comes in many forms, some of the most common are major credit card accounts, medical and hospital bills, and revolving retail accounts. Some unsecured debt, like child support and some tax obligations cannot be discharged in a bankruptcy.
Did you know that filing for bankruptcy can stop creditors in their tracks?
If you have large amounts of debt, you know only too well how aggressive creditors can be. Between constant phone calls and letters and the fear of repossession and foreclosure, harassment by creditors can significantly increase the anxiety you feel over your finances. But once you file for bankruptcy, creditors must stop contacting you immediately and collection actions, like foreclosure, are temporarily paused.
Did you know that there are different types of bankruptcy to choose from?
Our firm specializes in both Chapter 7 and Chapter 13 bankruptcy in Minnesota. While the appropriateness of one type over the other is dependent upon your unique financial situation, in general Chapter 7 is for clients who don’t own a lot of expensive assets they want to keep and are unable to meet the conditions of a repayment period. Chapter 13, on the other hand, involves an affordable 3-5 year repayment period that allows you to catch up on your balances while keeping pricey assets like your home and car. Each type of bankruptcy has its own requirements and conditions that are best discussed during your free initial consultation.
Let the pros at Kain & Scott handle your 2018 bankruptcy
At Kain & Scott, we don’t use gimmicks and we don’t play games: we offer fast, easy, and affordable bankruptcy representation that is backed by our 50 years of experience representing Minnesota families and our 100% Money Back Guarantee. We won’t surprise you with hidden fees or demand “extra” payments for our services: Kain & Scott offers top-notch bankruptcy representation for an affordable flat-rate fee.
Your relationship with Kain & Scott starts with your free initial consultation. Knowing that our clients have busy schedules, we offer bankruptcy consultations from the comfort of your home via telephone, Skype, or Facetime. Once you go over your basic financial information with one of our bankruptcy specialists, we’ll get to work gathering your information and completing your paperwork for your review and signature. Once the bankruptcy petition is reviewed and signed, we file it with the courts within days.
Your bankruptcy attorney will also accompany you to your meeting with the bankruptcy trustee (also known as a 341 hearing) to help explain the process and answer any questions you may have. The meeting of creditors is a chance for the bankruptcy trustee and your creditors (if they choose to attend) to ask you questions about your petition and verify the information it contains. The meeting is short and non-adversarial.
Once your debts are discharged, you have the option of taking advantage of our exclusive Free 90 Day Credit Repair Program. Our program will help you improve your credit score and obtain financing from our list of trusted Minnesota lenders.
From start to finish, Kain & Scott offers experienced, professional, and compassionate bankruptcy representation to Minnesota families: we look forward to giving you and your family a debt-free 2018!
Schedule your free initial consultation today
Start the year off right by scheduling your free initial consultation at www.kainscott.com today!