Although it may not seem like it, when you are struggling with overwhelming debt you do have choices. Some may not be the most desirable or the best choices, but it is a good idea to take a look at all of your available options.
So, if you’re struggling with debt in Minnesota, here are your options.
First is to do nothing. Not doing anything is an option for you. But that doesn’t mean there will not be consequences: garnishments, foreclosures, levies, lawsuits, and a tanking credit score to name a few. Many who do nothing regarding their debt don’t do so because they don’t want to. Debt tends to paralyze you, as it can quickly spiral out of control.
Usually the next phase of confronting one’s overwhelming debt is to seek relief through a debt consolidation program. To sum these up: big promises, little to no relief. These types of programs really tend to rely on the “good will” of creditors (surprise –there is none!). Creditors have no obligation to work with these programs or accept any payment plans that come out of these programs. They can pursue collection action against you at any point during the process. You are not protected during the duration of this program and at the end of the day, there is no guarantee that your debt problem will be solved.
If neither of these options sound appealing to you, there is another avenue that you can take: bankruptcy. Bankruptcy is a government sponsored debt relief program. Chapter 7 or Chapter 13 bankruptcies both offer you protection of your creditors and protection of many of your assets. You have an experienced bankruptcy attorney one your side that is fighting for your best interests and helping you get your life back.
It may feel like you are stuck in a never-ending cycle of overwhelming debt, but Kain & Scott is here to tell you that you aren’t! Learn about all of your options today by setting up a consultation with a MN bankruptcy EXPERT at Kain & Scott!
Conclusion
It’s time to GET YOUR LIFE BACK with Minnesota’s NICEST bankruptcy law firm –guaranteed! Visit www.kainscott.com to chat with a team member and schedule a consultation today!
