A reaffirmation is an official way to “reobligate” yourself on the loan. This involves the lender sending us a reaffirmation contract to be signed by you.
What Services Do You Offer Clients that Are Considering Bankruptcy?
We represent people and businesses in both Chapter 7 and 13 bankruptcy cases. We meet with people and businesses to counsel them on their debt resolution options so that they can make an informed choice on whether bankruptcy can help them meet their goals. We advise our clients on how best to prepare for a successful bankruptcy filing and how the laws could affect them in particular circumstances. We represent our clients at Section 341 hearings and any other necessary hearings to ensure their bankruptcy case is successful. We advocate for our clients when legal issues arise in bankruptcy court or when our clients prefer to hire us to handle a debt settlement outside of bankruptcy. We also represent our clients under consumer protection laws, primarily the fair debt collection practices act (“FDCPA”). The FDCPA places limitations on what debt collectors can do and say, and how they can collect their debts from people.
Can You Tell Me A Bit About Debt Settlement?
When we pursue debt settlement for clients, we focus on two different options. First, proposing a lump sum payment to the creditors in order to settle the debts for something less than the full amount owed. Alternatively, setting up payment plans for clients that work within their budgets. This is so they can avoid more stringent collection processes (such as garnishment), and pay off the debts over time. We negotiate those for our clients. We have primarily more success with a lump sum payment program if our clients are able to pursue that avenue. That is usually the desired method our clients prefer. If that does not work for a particular client, we are able to work out monthly payment plans.
What Can Someone Expect At An Initial Consultation With You?
The free consultation is the first step in the process of working on a resolution for your debts. The free consultation starts with an attorney in our office, and that attorney is going to go over the client’s situation in a good amount of detail. We will go over assets, income, expenses, any potential transfers that may have happened, and review those situations through the lens of how this situation would be handled through bankruptcy, and how the bankruptcy law would affect the situation. That way we can layout all of the options of bankruptcy laws for our clients. We offer our clients an idea of the lay of the land, what the pros, cons of each of those options are going to be, and that way, they can make an informed choice on how they want to move forward.
At the free consultation, we ask our clients to bring two recent pay stubs. If the person is unemployed, or self-employed, they really do not have to bring any documents at all. We just ask that they have kind of a working knowledge of the debt, and a working knowledge of their monthly expenses. We do not need any documentation at the free consultation for debts and expenses: estimates are fine.
Do People Generally Have An Idea Of What To Do After The Initial Consultation?
Yes, typically most folks will walk away with a general knowledge of where to go from this consult. People may want to give it some time to think it over, but typically, one of the options jumps out and they are able to say, “Okay, this is the option that best meets my goals and what I want to do or what I need to do.” So typically, by the end of that free consultation, we have outlined a game plan for them, and given them a checklist of the things we need in order to move forward, and to exercise these options to work on a solution.
Can People Contact Your Office With Follow Up Questions?
Yes, certainly, any of our clients may call us with questions, during normal business hours. Especially in bankruptcy, all of our bankruptcy services are flat fee based, so there are no extra charges or anything for any follow-up calls. We are readily available by phone and email to resolve any confusion or answer any questions that might come up after an initial free consultation.
How Important Is The Cost Factor In Choosing A Bankruptcy attorney?
Cost is extremely important, because you do not want to have to overpay for something. Secondly, if you are struggling with debts right now, obviously you probably do not have money burning a hole in your pocket. You want to make sure that you are getting value for what you are paying for. Cost is definitely something we always keep in mind, in order to be competitive with other bankruptcy law firms. That is why we have published all of our prices on our website. People can go to our website, and see all the charges. Our flat fees start at $899, and go up depending upon the complexity of the person’s situation.
The more issues in a case, the more time, and effort it is going to be on our end. So we charge for our time. We layout the different categories of our flat fees, and give you the criteria that help us determine which category you fall into. That way you are able to figure what we would charge even before you call our office. You are not going to find many bankruptcy attorneys in Minnesota that charge less than we do, and certainly, we are not going to offer the same level of expert services for those fees.
For more information on Services Offered To Bankruptcy Clients, a free initial consultation is your next best step. Get the information and legal answers you are seeking by calling today.
Chapter 13 is essentially a payment plan that you organize through the court system. Think of it as a consolidation loan with teeth.
There are 2 things you must do after your case is filed: (1) attend the meeting of creditors (aka the 341 hearing); and (2) complete a debtor’s education course via phone within 75 days from the date your case was filed. The 341 hearing is sometimes referred to as the meeting of creditors because your creditors can attend the meeting and ask you questions about the information contained in your petition.