When Should I File For Bankruptcy In Minnesota?

Most people know if their finances just do not feel right. If you wake up every day knowing that you have to shuffle bills around or take out cash advances on credit cards to cover your basic needs. At some point you will not be able to borrow any more money and the entire house of cards will collapse. It is common that people are not able to cover all of their credit card debt given the interest rates charged by most banks.
If you are in this situation you should talk to a Minnesota bankruptcy lawyer to see what your options are. If you are thinking about borrowing from your retirement account, you really need to consider other options. Retirement accounts are for retirement, and the government imposes heavy penalties on early withdrawals of those funds. You should speak with an attorney before you consult a debt consolidator, in most cases the cost of bankruptcy is lower, and is more effective.
The other cases where people know they should file for bankruptcy is once they begin to get collection calls, letters, judgements and garnishments. If you are having your wages or bank account garnished, most people realize they need to get their financial house in order. Most of our clients who are being garnished are unable to pay their regular bills including food and rent, at this point the bankruptcy can stop the garnishments, because of the automatic stay imposed by the bankruptcy court. Our offices represent clients in the State of Minnesota including Minneapolis and St Paul by helping to get their financial house in order. You can find more information and videos online at www.bolinskelaw.com.