There are many times in life that someone could benefit from a do-over. Whether it’s because of a fender-bender, relationship gone sour, bad decision, or unavoidable circumstances, the desire to reset the clock happens to all of us at one time or another. Unfortunately, in most cases people rarely get a second chance to start over.
If you wish you could get a financial do-over, you’re not alone: millions of Americans are currently struggling with thousands of dollars in unpaid debt and Minnesotans have their fair share. Sadly, as more and more people are forced to live paycheck-to-paycheck, the average amount of debt per person will likely continue to rise steadily making the odds of second chances even less probable.
When it comes to getting a second chance on your finances, you may think that you are stuck with your debt and poor credit for the rest of your life. In addition, since the longer your debt goes unpaid the higher the penalties and fees, your debt will continue to grow over time and be increasingly difficult to pay off.
However, thanks to Chapter 7 bankruptcy, you can get a financial do-over! Also known as the “Fresh Start Bankruptcy,” Chapter 7 bankruptcy does just that; eliminates your debt forever, fast, so you can get a fresh start. The debt clock stops the minute you file for bankruptcy: the calls from creditors and other harassing collections actions stop immediately. And, after 90 to 120 days from the date you file your case, your unsecured debts—credit cards, medical bills, and other debt not secured by collateral—are erased for good!
The benefits of Chapter 7 are substantial: with fast debt elimination and no repayment plan, it is the quickest and simplest way to erase your debt forever.
To find out more about how Chapter 7 bankruptcy and how the bankruptcy specialists at Kain & Scott can help you erase your debt and repair your credit fast, read on!
There are many benefits to filing Chapter 7 bankruptcy in Minnesota. First and foremost, Chapter 7 bankruptcy can erase your unsecured debt – with just a few exceptions. All of your credit card debt—whether from a big-name credit card company, small credit union, or department store—as well as medical bills and other debt not backed by collateral, are eligible for bankruptcy. Once your bankruptcy petition is approved, all the unsecured debt on your petition is wiped out: done, gone, goodbye! The exceptions are for child support or maintenance payments you owe, and most tax debt that you owe.
Second, Chapter 7 is the fastest type of bankruptcy. From the date of the petition being approved, your unsecured debt will typically be discharged in 90 to 120 days. At Kain & Scott, we pride ourselves on filing your bankruptcy petition within days—not weeks or months, like other law firms—to get your debts erased even faster!
Third, Chapter 7 bankruptcy can save you money. With Chapter 7 bankruptcy, you can erase your debt fast without making payments on your outstanding debt. By choosing Kain & Scott, you can save even more money thanks to our free initial consultation, affordable rates, and 100% Money Back Guarantee.
Having debt can negatively affect your life in many ways; one way is that it destroys your credit score. A credit score can be thought of as a type of financial health grade: the higher the “grade,” the healthier your finances are. Lenders (and others like prospective landlords and employers) look at your credit score to determine how risky it is to loan you money; a low credit score can make it impossible for you to obtain the financing for the things your family needs, as well as impact your ability to renegotiate your rates, obtain employment, or snatch up the perfect new rental home.
At Kain & Scott, we understand that erasing your debt is only half the battle; to truly receive a fresh start from bankruptcy, you need to repair your credit. That’s why we proudly offer our bankruptcy clients a FREE 90 Day Credit Repair program that can help boost your credit score and obtain financing from our list of trusted Minnesota lenders.
Don’t wait another day for your fresh start: contact the bankruptcy specialists at Kain & Scott for your free initial consultation and become debt-free in as little as 90-120 days with Chapter 7 bankruptcy. Our affordable rates, friendly staff, and almost 50 years of specializing in bankruptcy make us Minnesota’s leading bankruptcy law firm.