Have you ever wondered what life without debt would be like? Believe it or not, it’s entirely possible. Whether you’re under water on your vehicle, fallen behind on your mortgage, or have overwhelming credit card debt, bankruptcy can help you break free from the shackles and live a debt free life. In a matter of a few short months, you could have your financial life back! Here’s how…
First Steps
You’re off to a great start by reading our blogs. This is an invaluable resource which covers a wide range of topics relating to bankruptcy. Best of all, these blogs are written by our attorneys, so you know the information you’re getting is well-qualified. Aside from our blogs, check out the rest of our website. Heck, check out websites of other bankruptcy firms too. After all, this is about you getting the information you need. Just remember, unlike other firms, we make this process about YOU. We will help guide you through bankruptcy and provide you with the best customer service of any bankruptcy law firm around.
Initial Consultation
After you’ve had a chance to review our website, feel free to contact us. We can schedule a free, no obligation, consultation to discuss your various bankruptcy options. Most importantly, we’ll invest time into answering all of your questions. There are a few options for conducting the initial consultation: in person, by phone, via Skype, or Facetime. Whatever option makes you most comfortable, we’re happy to accommodate. Some people prefer our first meeting takes place in the comfort of their own home. If this is you, that is perfectly fine. We live in a time we can “meet” however you’d like. If Facetime or Skype is preferable to you than meeting in person, we will make that happen.
During the initial consultation, we will get to know one another. We will spend between 30-60 minutes, or longer if needed, asking/answering questions. The meeting is informal and is designed to help you become educated on your options. And when it comes to consumer bankruptcy, you have two options: Chapter 7 and Chapter 13.
Chapter 7
Chapter 7 bankruptcy is the breath of fresh air most of our clients are searching for. Chapter 7 bankruptcy is a legal option where most of your debts are forgiven, forever! The process takes about four to six months from start to finish. As soon as your case is filed, you are no longer expected to make payments towards your creditors. In fact, once your case is filed, your creditors cannot contact you to collect on the debt. At the end of the Chapter 7 process, you have the ability to be 100% debt free! Any debts that are discharged through the bankruptcy are gone, interest/penalty free, forever!
Chapter 13
Chapter 13 bankruptcy is an option to achieve a debt-free life for people who either make a lot of money or have a lot of assets we’re concerned about protecting. So, if you own a lot of toys (boats, motorcycles, snowmobiles), we may look at filing a Chapter 13 bankruptcy for you in order to protect all of your toys. Also, if you make more than the median household income for your family size, we will look into filing a Chapter 13. The main difference between a Chapter 7 and a Chapter 13 is that you will make monthly payments in a Chapter 13 to pay off some of your debts. The payment plan we put together for you will always be something you can afford. Chapter 13 is essentially a government-sponsored debt consolidation plan. This consolidation plan, however, is interest-free! Once you have satisfied the terms of your repayment plan, any amounts of money you still owe to certain creditors will be forgiven.
If after meeting with us for your initial consultation you would like to move forward with the bankruptcy process, we will schedule you for a second meeting called the Review and Sign appointment.
Review and Sign Appointment
The Review and Sign appointment is where we really dive into the case. This appointment is designed to be two hours. We can conduct this appointment in person or via Skype/Facetime. During this time we discuss your financial posture – your income, your assets, and your liabilities. We identify the creditors you owe money to so we can protect you from collection once your case is filed. There are, of course, a few things we will need in order for this meeting to take place, but we’re not going to ask for a whole lot. More to follow when the time is right.
341 Meeting
After we file your case, there is one final meeting. This meeting is referred to as the “341 Meeting”. The 341 Meeting is conducted by another attorney. During this hearing, you are asked a few questions about your case. This meeting usually takes place 1 ½ to 2 months after your case is filed. Most of the time, these meetings only take five minutes. It will likely take you longer to drive to the meeting than it will to actually conduct the hearing. Despite the brevity, this is a required meeting that we must attend. Don’t worry, we will be by your side the entire time.
Achieving a Debt Free Life
Not often in life do we have the chance to be debt free. We live in a consumer-driven society and most of us don’t have the cash flow to purchase what we need without using credit. As much as we try not to, most of us live outside of our means. Using credit can be a slippery slope and, before we know it, we’re in over our heads. When this happens, stress can get the best of us. If you’ve reached the point of no return, in terms of paying off your debt, feel free to give us a call.
Our experienced MN Bankruptcy Attorneys are very knowledgeable and will answer any questions you have. Whether you know bankruptcy is the direction you want to go or not, we can help eliminate the stress of your situation.
Thank you for taking the time to read this. If you’re ready to get some more answers, please feel free to reach out. We don’t judge you, we HELP you get your life back!
