For most people, bankruptcy is not something they want to have to do. However, it is an action that people take when they are so buried in debt that they cannot see a way out. Perhaps the bank is threatening to repossess the car, the house is in the middle of the foreclosure process, or a creditor is threatening to sue and garnish wages.
When you find yourself in this situation, it is ideal to speak with a Minneapolis bankruptcy lawyer because you can receive the guidance that you need to make the right decisions regarding your financial situation.
The Benefits Of Bankruptcy
While it can be difficult to decide whether or not bankruptcy is the right decision, there are some benefits. They include:
- No longer having to deal with the harassing telephone calls from creditors. Once your bankruptcy petition is filed, debt collectors can no longer call you. Neil Thompson will stand between you and the creditors during your bankruptcy proceedings. Instead of talking to you, they can talk to your Minnesota bankruptcy lawyer. They also cannot repossess any assets during this period.
- Foreclosure on your home, car repossession, and wage garnishment stops. An automatic stay is placed on all of these proceedings, allowing you to stay in your home, keep your car, and hang onto your wages.
- Rather than paying bills with balances that never seem to go down, money can be used to take care of your family.
- You can permanently eliminate your debt and start with a clean slate so that you can rebuild your financial future the right way. When you know what went wrong the first time, you can make sure it is done right the second time.
Yes, bankruptcy does remain on your credit report for 10 years, but that does not prevent you from acquiring credit not long after filing so that you can rebuild yourself financially.
Helping You Every Step Of The Way
Neil Thompson will be with you every step of the way. Questions will be answered and you will have the emotional support that you need when filing bankruptcy. While it is a process that can relieve you of debt, it is an emotional one. It is difficult to admit that you can’t pay all of your expenses, but know that you are definitely not alone in this. Millions of people have had to file bankruptcy due to job loss, cut hours, or the debt just grows out of control. Your Minneapolis bankruptcy lawyer will work to make the process as free of stress as possible for you.
Contact A Minnesota Bankruptcy Lawyer
To decision to file bankruptcy is a difficult one to make and one that you should not have to make on your own. If you are confused as to what you need to do to better your financial situation, contact Neil Thompson and receive the guidance that you deserve to have. You can make the call at 612-246-4788 or fill out the online contact form to schedule your free consultation. When finances make you feel trapped, know that there is a way out.
Twin Cities Bankruptcy Lawyer
Attorney Neil Thompson is proud to serve clients throughout the metro including, but not limited to: Minneapolis, Minnetonka, Apple Valley, Golden Valley, Edina, Richfield, New Hope, Crystal, Shoreview, St. Paul, St Louis Park, Roseville, Columbia Heights, Fridley, Brooklyn Center, Anoka County, Hennepin County, Washington County, Ramsey County, and Dakota County.