Need an Experienced Minnesota Bankruptcy Attorney?
Neff Law Firm, P.A., Minnesota Bankruptcy attorneys serving Minneapolis, St. Paul, Bloomington, St. Louis Park, Edina, Roseville and all of Minnesota
What are Indications that a Bankruptcy May be Needed?
The skilled Minnesota Bankruptcy attorneys at Neff Law Firm, P.A., have many years of experience helping consumers interested in potential debt relief through the filing of a bankruptcy. These experienced bankruptcy lawyers have evaluated many consumers’ financial situations. This process involves reviewing indications in a debtors situation that bankruptcy may be an appropriate type of relief. These indications include an inability of a consumer to pay for regular expenses, failure to pay debt obligations as they become due, threats of foreclosure, facing repossession, judgments by creditors, garnishment, not current on bank loans, behind on utility payments, large unpaid medical bills, serious problems with credit card obligations, overdrawn checking accounts, not current on automobile loan payments and facing harassing creditors.
Factors to Keep in Mind when Considering Bankruptcy
What Information Should be Evaluated in Considering Bankruptcy?
Experienced Minnesota bankruptcy attorneys at Neff Law Firm, P.A.'s, Twin Cities law offices understand that in contemplating doing a bankruptcy there are many factors to be considered. Among them may be how much income is regularly available to meet expenses, assets, debt that has been incurred, ability to make payments as they become due, ability to meet monthly expenses, and legal requirements that must be met to qualify for bankruptcy relief.
In reviewing a person’s situation to see whether they should consider pursuing the bankruptcy option, it may be useful to consider how the current financial situation has developed to see whether changes in handling finances may help avoid pursuing bankruptcy and if not what is needed in the future to keep from again getting into problematic credit situations.
Common Causes of Financial Problems
What Causes Debt that Leads to Bankruptcy?
While each individual situation may be different and needs to be individually assessed to determine whether bankruptcy is appropriate for the situation there are some common types of situations that lead to financial instability resulting in a need for bankruptcy. What follows are some common types of situations that may lead to financial problems:
- Making purchases based on what you want rather than what you need.
- Making large purchases that are beyond your current ability to pay for them.
- Purchasing things under payment arrangements that call for high interest rates.
- Purchasing items with a credit card that you cannot afford to pay for with cash.
- Utilizing a credit card to pay on bills and/or bills due on other credit cards
- Inattention to the interest rate that a credit card carries with it.
- Spending beyond the credit limit set by an account and incurring charges for being over the limit.
- Being late on paying your credit card causing late fees to be charged.
- Paying only the minimum payment due on a credit card.
Exploring the Bankruptcy Option
Need a Bankruptcy Attorney?
If after a review of the forgoing considerations that lead to financial problems appear to be present in your situation it may be useful to further review your situation with an experienced debt relief lawyer. A consumer can explore potential legal help including relief under Chapter 7 or Chapter 13 of the federal bankruptcy law or, if a consumer is a Wisconsin resident under Wisconsin Chapter 128. People who face serious debt problems may find legal help from a qualified bankruptcy attorney. To set up an office appointment to meet with an experienced bankruptcy attorney in Minnesota consumers can call the Neff Law Firm, P.A., central scheduling telephone number of (952) 831-6555.
Minnesota Bankruptcy Lawyers
Neff Law Firm, P.A., has highly experienced Minnesota bankruptcy attorneys that can help debtors evaluate their situation to determine available debt relief. A St. Paul bankruptcy attorney from the Roseville office of Neff Law Firm, P.A., in Ramsey County, Minnesota or Minneapolis bankruptcy attorneys from the Edina office in Hennepin County can meet in person with a debtor and review all relevant financial concerns to help evaluate his or her potential to receive debt relief. These Ramsey and Hennepin County bankruptcy attorneys have decades of experience helping consumers to receive debt relief.
Minnesota Consumer Bankruptcy Lawyers
Neff Law Firm, P.A.'s, consumer bankruptcy lawyers are available to debtors throughout Minnesota including people living in Minneapolis, St. Paul, Edina, Roseville, Bloomington, Golden Valley, St. Louis Park, Robbinsdale, Brooklyn Center, Anoka, Columbia Heights, Oakdale, Egan, Mendota Heights, Eden Prairie, Deep Haven, Minnetonka, Wayzata, Mound, Hopkins, Chaska, New Brighton, Chanhassen, Excelsior, Orono, Shakopee, Richfield, Brooklyn Park, Plymouth, St. Anthony and Maple Grove.
For an appointment to meet a Minnesota consumer bankruptcy attorney in the greater Minneapolis office in Edina, Minnesota or in the greater St. Paul office in Roseville, Minnesota please call Neff Law Firm, P.A.'s, central scheduling telephone number of (952) 831-6555.
