Low Cost Bankruptcy, Credit Repair, Financial Difficulty
and Debt Relief in Minneapolis
Are you in serious financial difficulty? With the sluggish U.S. economy pushing more businesses and individuals into the red, many Americans are searching for debt settlement and credit repair.
An Affordable
Bankruptcy Program
Until recently, the cost of filing bankruptcy and retaining an attorney has been extremely prohibitive for those already feeling the crunch of their financial difficulties.
The typical cost of our bankruptcy program is only $793.00! Court fees and counseling fees are additional. We accept payments! Affordable Court Resources Minneapolis is dedicated to providing the lowest fees available to the consumer.
Thankfully, Affordable Court Resources Minneapolis now provides a range of services from bankruptcy and credit repair to
debt relief programs at a reasonable cost to those seeking help.
Five Bankruptcy Myths
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You'll Be Denied the Right to File
for Personal BankruptcyChanges in bankruptcy law in 2005 now provide you with the opportunity to file for personal bankruptcy. Chapter 7 now presents filers with a means test to determine whether your income is too low to pay back debt to creditors under the Chapter 13 plan.
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You Can Only File Once
You can file for bankruptcy more than once under certain conditions. If you haven't filed for Chapter 7 bankruptcy in the last eight years you can seek relief. Debtors wanting to file for Chapter 13 must not have been discharged from Chapter 13 in the last two years or a Chapter 7 in the past four years. While it is possible to start Chapter 13 proceedings under these conditions, you will not be granted a discharge until the time limitations have passed.
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You will lose your Car
and Your HomeTypically, bankruptcy falls under it's two most common filings, Chapter 7 and Chapter 13. While in a Chapter 7 bankruptcy, also known as a "liquidation" bankruptcy, any non-exempt assets you posses are sold with the proceeds given over to the creditors, Chapter 13 bankruptcy offers a way to keep your assets. Chapter 13 Bankruptcies operate on payment plan that allows you to pay back your debts over time. With creditors often ending up with a higher recovery rate and debtors holding on to their assets, it's a win-win situation for everybody.
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You will lose your Retirement Assets
or Your 401(k)Not true. Only funds taken out of an IRA or a 401(k) prior to bankruptcy are included in filing. Otherwise, IRAs and 401(k) plans are exempt from liquidation. Consider this this carefully if you've planned to use funds from one of these plans to avoid bankruptcy. If you end up having to file later funds taken from IRAs or 401(k) plans will not be exempt.
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Your Credit Will Be Damaged
Beyond RepairWhile it's true that bankruptcy will appear on your credit report, it's not the end of the world. A successfully discharged bankruptcy will show on your current credit report and you may find credit card companies willing to extend credit based on that basis. In the interim you may still be able to find credit when your bankruptcy has been finalized. This is especially true if you're currently bringing in an income that's no longer impacted by debts cleared away as a result of the bankruptcy process.
What Is Bankruptcy?
Bankruptcy is a court proceeding in which you request the court to excuse you from your responsibility to repay your creditors. Bankruptcy allows you to discharge most of your debt, and to keep some of your property.
A special court, called the United States Bankruptcy Court, hears all bankruptcy cases. Two types of bankruptcy apply to individuals and married couples who are not in business, and they are Chapter 7 and Chapter 13.
Debt Settlement and Credit Repair
At Affordable Court Resources, our specialists are quite successful at reducing the amount of debt you owe, and eliminating all interest and other charges being assessed against your account.
Take the first steps on the road to financial solvency and security via our bankruptcy and credit repair programs. Give us a call at 1-218-828-4483
or contact us today and get started!
Credit Counseling Resources
The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 states that people who plan to file for bankruptcy protection must get credit counseling from a government-approved organization before they file. Affordable Court Resources recommends a variety of organizations you can contact for pre-bankruptcy counseling.
Notice: Affordable Court Resources staff cannot provide legal advice. No information on this site should be used or interpreted as legal advice. Legal counsel is provided by legal plan attorneys as assigned.
