Sep 26, 2014

Posted by Shanell Calloway in Uncategorized | Comments Off on Bankruptcy Attorneys in St. Paul MN: Is it too Late for Bankruptcy?

Bankruptcy Attorneys in St. Paul MN: Is it too Late for Bankruptcy?

Not many people realize the gravity of their debt situation until time starts running out. May people realize that they are facing a crisis when they have been served with a lawsuit, a judgment made against them, and a garnishment served to their employers. In case you are in such a situation, and you are wondering whether it is already too late, contacting Bankruptcy attorneys St. Paul MN could help you figure out your next course of action. Here are some guidelines into when you should file for bankruptcy. Visit website for more information.

After being served with a lawsuit
If one or more of your creditors have decided to go to court in a bid to recover their money, you should contact a bankruptcy attorney immediately. Filing for a bankruptcy at this point will help stop the lawsuit on its tracks. The automatic stay that comes with a bankruptcy filing forbids your creditors from taking any further action in an attempt to recover their debt. If the debt you have does not involve a dishonest act or issues to do with child support, all liability will be discharged by the end of the bankruptcy case.

After losing a lawsuit
Most people feel that attempting to file bankruptcy after they have lost a case to a creditor is futile. However, the fact the court has determined that you owe money and that you should pay doesn’t mean that bankruptcy can’t help discharge the debt. What you need to do is try and file for a bankruptcy before the judgment is made. Note that once a judgment has been made, the debt is fixed and the process of filing, especially for chapter 13 debt reliefs may become very complicated.

When a creditor has a judgment lien
There are circumstances in which bankruptcy can still help, even after the creditor has won a case and perfected a lien against your assets. Note that bankruptcy will only help you when the lien interferes with any exemptions you can claim to an asset.

Those are some scenarios in which contacting Bankruptcy attorneys St. Paul MN and filing for bankruptcy could still help. Lamey Law Firm offers guidance and litigation for bankruptcy cases. Visit to learn more about their services.

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