Author: mlt

Has anyone made you feel that by filing for bankruptcy you are taking the easy way out? That judgmental attitude is not only incorrect, it can be harmful if it keeps you from getting the help you need. Bankruptcy is not a trivial thing. It can be a complex process that requires the skill of an experienced bankruptcy attorney. On top of that, bankruptcy can have serious consequences if it is not done right. For many people, however, it is the only choice they have.

Repercussions
Bankruptcy can have serious effects on your credit score. If you file for either Chapter 7 or Chapter 13, the bankruptcy may stay on your credit report for 5 to 7 years. You may need to disclose that you filed for bankruptcy when you apply for credit. Not only that, but can it turn up if you rent a house or apartment, get a cell phone, or apply for car insurance. With these possibilities, it is inaccurate to characterize bankruptcy as being an easy way out.

The Only Way Out
Through no fault of their own, people find themselves in bad financial situations. A job loss or sickness – they find themselves choosing between food and debt payments. They realize they will never pay off all their debts. For these people, bankruptcy is the only way out.

Get the Help You Need
At Behm Law Group, we understand that no one wants to file for bankruptcy. We’ll never make you feel like you’re taking the easy way out. We’ll treat you with the respect you deserve. Stephen Behm has the extensive experience, knowledge, and skill to guide you through the bankruptcy process with as little disruption to your life as possible. Contact us today to obtain the best results when you need to file a chapter 7, 12, or 13 bankruptcy.

When you hire a bankruptcy attorney, you are putting your financial future into that person’s hands. Not only that, but you will be required to show that person all of your finances. If you’re like many people, your finances are deeply personal and sometimes embarrassing. For those reasons, you want to make sure that you pick an attorney with both the experience and sensitivity to help and treat you with understanding.

Experience
If your attorney does not manage your case properly, you can lose your rights and property. Because bankruptcy can be a nuanced, detail-oriented and complex proceeding, you need to hire an attorney with the experience to handle your case the right way. At Behm Law Group, we limit our practice to bankruptcy law. That means that we can handle your bankruptcy case, no matter how complex.

Sensitivity
Have you heard the old adage, never lie to your lawyer? When you file for bankruptcy, you will have to show your attorney all of your finances: every debt, savings and checking accounts, stock accounts, and more. You will have to show your bankruptcy lawyer a list of all your assets. Every part of your financial record will be laid bare. The kind of trust to give to a lawyer is difficult, but necessary. That is why you need to find an attorney who is understanding and will treat you with respect.

Attorneys You Can Trust
At Behm Law Group, you will find the combination of experience and sensitivity that you need. Not only are we leaders in our field, we will treat you with the compassion and understanding you deserve!

When they hunt, predators don’t look for strong or healthy prey — they seek out easy, unsuspecting victims. This is true both in the animal world and in the financial world. When times get tough, unscrupulous lenders promise easy money in the form of payday loans to people who are in trouble. A payday loan might seem like an easy short-term solution. However, it will give a financial predator an opportunity to sink its teeth into you, and you will be in worse trouble than before.

A payday loan is easy to get. All you usually have to do is show the lender your pay stubs to prove you have an income. Payday loans, though, often come with extremely high fees, sometimes up to 30% of the loan. For example, say your paycheck is $1,500, and you borrow $300. When you get paid again, the lender takes back the $300 plus a fee of up to $90 so that only $1,110 remains. Most likely, that $390 shortfall will leave you with not enough money to pay for all of your expenses. Therefore, you are forced to go back to the payday lender and get another loan, and your debts can quickly spiral out of control.

If you are in financial trouble, don’t go to a predator. Find someone who wants to help you, such as a financial counselor. Sometimes, though, not even a financial counselor can help, and you need the services of an experienced Minnesota bankruptcy attorney. Unlike the payday loan predators, a bankruptcy lawyer can help put an end to the cycle of borrowing and debt. At Behm Law Group, we specialize in assisting people through their financial troubles. Bankruptcy is our specialty, customer service is our passion. Give us a call and see how we can help.

When faced with crushing debt and no light at the end of the financial crisis tunnel, many folks turn to bankruptcy in order to protect themselves from over-zealous creditors, collection agencies, and the possibility of being sued. While many types of debt can be discharged during a bankruptcy, the slate may not be totally wiped clean when it comes to debt.

There are certain types of tax debt that cannot be discharged during a bankruptcy. In spite of the fact a tax debt may feel beyond your means to repay, bankruptcy may not erase that debt. Another required payment that cannot be discharged is child or spousal support. When you have been determined as legally obliged to make these payments, a bankruptcy cannot remove that obligation. Student loan debt can add a serious amount of stress to a financial predicament, but in many cases that debt cannot be discharged through a bankruptcy.

Another area which can provide severe difficulty during a personal financial crisis is any type of debt that a person has sustained as the result of damages they have been ordered to pay, resulting from an injury they were judged to have caused. If a judgment was reached against you, and damages were awarded to another party as a direct result of your actions, that debt cannot be discharged through a bankruptcy proceeding.

While many of the previous reasons why a debt may not be discharged sound solid, there can be other factors which require consideration before a determination can be rightfully reached regarding a particular type of debt. These types of debt can be quite complicated and require the skills of a highly experienced bankruptcy attorney. If you are contemplating bankruptcy and wondering if you have a debt that you may not be able to have discharged, give us a call at Behm Law Group and we can help you sort through you options and provide the best results obtainable regarding your case.

You’ve suffered a financial crisis and there’s much more worry and uncertainty than money. The collection agencies call every day, especially at the wrong times. The phone begins to ring soon after you wake up, or after you come home from work, or while you are eating your dinner, and often the calls don’t stop when it’s bedtime. They even call you at your place of employment. But not only are they calling you, they’re calling your friends and relatives as well. Your mailbox is stuffed daily with threatening letters. They make you feel like a freeloader or a dishonest loser. They harass you as much as they feel is legally possible. However, they may be actually breaking the law in doing so. Have you had enough?

When collections against you get this bad it’s time to act and protect your rights. When you file for bankruptcy relief, your creditors can no longer harass you. The annoying phone calls and threatening letters stop. This relief occurs when your bankruptcy attorney files a bankruptcy petition on your behalf. A bankruptcy petition is your official application to declare bankruptcy. After your attorney files the bankruptcy petition, your creditors are only allowed to communicate directly with your attorney. If they happen to call you before they receive official notice of your bankruptcy filing, you are entitled to inform them you have filed and you may direct them to contact your attorney. Any further direct communication with you from that point on is illegal and your creditors can be liable for damages and attorney’s fees.

How much harassment can you take? How much is enough? Have you done your best but feel you are out of options? You don’t have to take it any longer. Our trained and highly experienced bankruptcy lawyers at Behm Law Group have helped hundreds of people like you. We help stop the harassment and we can help you get a fresh start. Protect your rights, protect your future, and protect yourself. If you are tired of the harassment, give us a call.

If you are in financial distress and considering filing for bankruptcy, you are no doubt wondering what bankruptcy will do to your credit score. Will it permanently damage your credit score? How long will the bankruptcy stay on your credit report? Can you ever be free from the black mark of bankruptcy? If you are wondering how bankruptcy will affect you, there’s good news and bad news. Let’s start with the bad news first.

Bad News

Filing bankruptcy is not something you should take lightly. Bankruptcy will negatively affect your credit score. However, one who needs to file for bankruptcy relief may already have bad credit. Bankruptcy will not make a credit score worse, in such a case, than it already is. Bankruptcy can stay on your credit report anywhere from one to ten years. That mark may influence the decisions creditors make about you as long as the bankruptcy shows up on your credit report. If you are considering filing for bankruptcy, your Minnesota bankruptcy attorney will tell you how bankruptcy will affect your credit score.

Good News

Though it’s true that bankruptcy can hurt your credit score, it isn’t something you cannot recover from. After you file for bankruptcy, you will be in a better position to start rebuilding your credit. And even with a bankruptcy on your record, with good financial habits, you can re-establish yourself as a good credit risk. That means you can eventually be able to get a credit card, a car loan, or even purchase a home. Bankruptcy isn’t the end of your financial life. In fact, it can be a new beginning.

Starting Over

At Behm Law Group, we limit our practice to bankruptcy law, which means we specialize in helping people just like you. If you need a new start, don’t hesitate to give us a call.

After the mortgage crisis of a few years ago, it is more difficult for people to obtain a home loan. This is especially true for people with credit issues. So if you aren’t a home owner and are considering filing for bankruptcy, you might be concerned about your chances of buying your own home. Though having a bankruptcy on your credit report might be a set back, it is not something that can keep you from ever owning a home.

Unfortunately, many lenders will not give someone a loan for two or three years after they’ve filed for bankruptcy. However, think of this as an opportunity. After the financial relief that bankruptcy offers, you will be in a much better financial position. You can take advantage of the two-year waiting period to rebuild your credit. You can also use that time to save money for a down payment on your home loan. A good down payment can help increase your chances of getting approved for a home loan and may even get you a better loan rate. On top of that, having a down payment means you will start off with equity in your new home, which will make it easier to resell, if that is what you want to do.

Filing for bankruptcy, while serious, is not the end of the world. It does not mean the end of your dreams, even the dream of owning a home. If you need help, don’t hesitate to call us. At Behm Law Group, our attorneys specialize in helping people just like you get back on track to achieving their dreams.

There’s a reason that the minimum payment on a credit card is so low, and it isn’t because the big credit card companies care about you or your finances. The minimum payment on a credit card may be convenient for you, but it’s designed to keep you in debt and making additional payments to them for years. Not only that, as you continue to pay the minimum payment, the credit card companies reap obscene profits from you as you struggle to make ends meet. Long-term periods of minimum payments from you equal big interest income and profits for them. Here are some examples of what making the minimum payment will do to you:

• If you owe $1000 at 18% interest, it will take you 8 years to pay off your card. You will have paid $863 in interest.
• If you owe $1000 at 21% interest, it will take you 10 years to pay off your card. You will have paid $1,398 in interest.
• If you owe $3000 at 18% interest, it will take you 26 years to pay off your card. You will have paid $6,863 in interest.
• If you owe $3000 at 21% interest, it will take you 47 years to pay off your card. You will have paid $15,398 in interest.

If you find yourself in a position in which you can only make minimum payments, you will most likely never get out of debt. If you want to see how long it will take to pay off your credit cards, you can use the Credit Card Repayment Calculator at:

http://www.federalreserve.gov/

As you can see, the credit card companies have a powerful advantage over you. If you get stuck in their snare, you might never get out. However, bankruptcy laws were written to help people like you get out of the cycle of credit card debt. If you are in trouble, contact the Minnesota bankruptcy attorneys at Behm Law Group LTD. We will help you determine if bankruptcy is the best option for you.