Bills and expenses can become a burden if you have no resources to pay for them. People often end up going to a bankruptcy service because of a backlog of bills that cannot be paid due to loss of a job, disability, or medical impairment. Sometimes credit card debts can pile up and equal more than the monthly income. A Bankruptcy lawyer in Woodbury MN can provide you with answers.
People are often worried about their credit rating and how a bankruptcy may affect their score. After the process is complete and the debts have been discharged your credit score may actually rise as it provides you with a fresh start. You will no longer have lingering debts and negative remarks on your credit report. Your attorney can inform you of how long the process should take.
You will need to be able to pay for your bankruptcy lawyer in Woodbury, MN fees. Most will accept a check or cash, but not credit card payments. This is essential to get the process started. You can get a free consultation to find out the exact cost of the service as well as what items you will need to bring for your case. If you have filed for bankruptcy recently, you may not be given the approval to file again right away.
There is more than one type of bankruptcy. Individuals and even businesses can apply for bankruptcy. Any bills or debts that you want discharged should be provided to your lawyer. Individuals are expected to take a financial counseling courses prior to your discharge. You will also need documentation and proof of income to indicate your inability to pay your bills. If you own any property, or own financial assets these may be used to help pay off your debts. For those that have a steady income you might be allowed to pay a small amount each month to pay off your bills. Once you have picked a particular bankruptcy type, you cannot change in the middle of the process.
You will need to appear in court to state your reasons for filing. You will also deal with a trustee assigned to your case. He or she will ask you questions under oath and record your testimony. They will either grant or deny your request. If approved you will get a formal letter indicating the discharge has been complete.