We understand that not being able to pay your bills every month is frightening. Being harassed by creditors and debt collectors only increases the level of fear and frustration.
Overwhelming debt is difficult to handle but there is a light at the end of the tunnel. Filing bankruptcy gives you a fresh start free from the fear of wage garnishments, foreclosure, repossession and lawsuits. Filing bankruptcy is like removing a great weight off your shoulders. The stress and anxiety of dealing with debt problems affects every aspect of your life. Once that weight is removed, you can concentrate on recovering and rebuilding following a financial crisis.
The attorneys of Kain & Scott strive to remove that weight from your shoulders. That goal is what made us decide to open five new offices in the Twin Cities area. We want to provide the same great customer service and debt relief services we offer to other Minnesotans to the residents in the Twin Cities area. The following are some Twin Cities bankruptcy stats that you should know.
Twin Cities Bankruptcy Stats
2014 Bankruptcy Case Filings In Minnesota: 12,040
The bankruptcy lawyers at Kain & Scott help residents of the Twin Cities and surrounding area get a fresh start by filing bankruptcy. We understand that some people may feel embarrassed about filing bankruptcy, but we want you to know that you are not alone. Many people have experienced problems with debt and found relief through bankruptcy.
In 2014 alone, over 12,000 people in Minnesota filed bankruptcy. You are definitely not alone in your struggle with debt. Our attorneys will help you get a fresh start just as thousands of other people have before you.
Bankruptcy Firms vs. Other Law Firms
Very few law firms located in the Twin Cities area focus solely on bankruptcy law. You can find hundreds of law firms that practice criminal defense law, family law, real estate, estate planning and corporate law. These law firms tend to practice several areas rather than focusing on one specific type. In our opinion, if you are going to provide your client with the best possible bankruptcy advice, you must focus solely on bankruptcy law. Bankruptcy law is complex. It takes years of practice to learn all of the specific laws and rules that govern bankruptcy filings.
Attorneys who cover several areas of law do not develop the same level of expertise and knowledge that attorneys who focus solely on bankruptcy law develop. That is why the attorneys of Kain & Scott chose to focus solely on bankruptcy law. We want to be the best bankruptcy attorneys in the Twin Cities area rather than attorneys who “dabble” in bankruptcy whenever someone happens to need a bankruptcy attorney. Filing bankruptcy is a serious decision that affects your future. Do not trust your financial future to an attorney who does not have the experience and knowledge required to make sure that your interests are protected inside and outside of the courtroom.
Common Reasons People File For Bankruptcy In The Twin Cities
Because we have handled thousands of bankruptcies in our years of practice as bankruptcy lawyers, we have heard many reasons why people need bankruptcy relief. Each person’s financial situation is different and each person’s life experiences are unique. However, there are several common reasons why people file for bankruptcy.
Credit card bills
Credit card debt is one of the most common reasons why people file for bankruptcy. While some people may abuse credit cards, get in over their heads and need help to resolve their debt problem, most of our clients use credit cards out of necessity to pay for food, housing, medical expenses and utilities.
Even if you have health insurance, a major medical emergency could result in thousands of dollars in medical bills that you cannot afford to pay. Bankruptcy discharges medical bills to allow you to recover both physically and financially from a medical emergency.
Loss of income
Many people live paycheck-to-paycheck. No matter how hard they try to get ahead, something always seems to happen to delay their plans. Losing your job or experiencing a decrease in household income can create a financial strain that is impossible to recover from without assistance.
The economy has taken a toll on businesses, especially small, family-owned businesses. Owners will often personally guarantee a business loan and when the business fails, the owner’s liability for the debt continues. A bankruptcy can discharge the owner’s personal liability for those business debts.
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