Filing for bankruptcy seems like a big, scary decision, mainly due to its reputation and image painted by our media. High ranking officials and celebrities, such as George McGovern and Larry King, receive a lot of negative attention when they file bankruptcy. As of late our media is focused on Detroit, an entire city, going bankrupt. Unfortunately, the fact that individuals, businesses and even cities, are filing bankruptcy is the only part of the story that is “newsworthy,” and we don’t get to see their return to normalcy – to debt freedom. 

Becoming debt free can be done in 120 days or less if you file a Chapter 7 bankruptcy in Minnesota. To ensure the process is completed in three-four months, work with a bankruptcy attorney. A bankruptcy attorney will be your guide through the legal jargon, court meetings and mountains of paperwork, ensuring you complete all steps accurately and in a timely manner.

When filing for bankruptcy, having an attorney on your side can make all of the difference. Chances are you are already frustrated with your financial situation and stressed out because of all the problems that result from a lack of funds. Entering into a bankruptcy case without help will only multiply that frustration and stress, especially if you have no experience dealing with legal processes and language.

Credit card debt is one of the most common reasons people seek debt help. It is easy to overspend when you aren’t paying cash and you aren’t held responsible for paying immediately. The interest built into this type of credit can add up quickly, especially if the balance isn’t paid in full or on time every month. And because accounts are being managed online it is much easier to overlook or disregard the added interest.

Credit card companies are in business to make money and we make it very easy for them to be profitable. Credit cards fulfill our need for instant gratification. It is very easy to spend money on a credit card because there is no physical exchange of cash and you are not expected to pay at the time of transaction. This process plays upon humans’ need for instant gratification.