Minnesota Bankruptcy Lawyers Walker & Walker Can Help Your Case
The COVID-19 coronavirus has disrupted economies and lives all over the world. Small businesses and individuals with non-stable jobs have been hit particularly hard. As a result, people and businesses who might never have considered bankruptcy before may find themselves – at very least – wondering if they need to consider it now. Wherever you may be, here is how current rule changes may affect your bankruptcy case.
Haven’t Filed Yet? You You Still Can! The Bankruptcy Courts Are Open!
First, if you have not yet filed for bankruptcy, understand the system may be moving slower than normal for hearings, but the bankruptcy still takes effect the minute that we file it. This means you get a case number, and no one can take any act to collect from you, and your credit reports show all credit card and collection debts as $0 balance. Walker & Walker is able to file your case 100% remotely.
Due to rapid changes in procedure at the Bankruptcy Court for Minnesota, all current cases are being given hearings by phone or video conference. Most of our clients find this is easier than going in person.
Second, what you need to do right now, is to get an attorney to start looking seriously at your options – to find out if bankruptcy is the best option for you, and if so what kind of bankruptcy: Chapter 7 or Chapter 13. Try to find a firm with a proven track record in this area of law. You will need a legal team that’s intimately aware of the legal AND the financial side of bankruptcy, in order to ensure that you keep all the assets to which you’re entitled while paying off remaining creditors on a timeline that’s fair to you with only what you can afford.
Already Filed? Good News and Bad News
Good News for Bankruptcy Filers
Due to the recent coronavirus challenge, the Bankruptcy Court has substantially changed its rules to make it possible for all parties to continue their cases while remaining safely at home. These changes include:
- A shift from courtroom hearings to hearings via conference call and video conference. While this will vary by judge and case, many hearings which would have formerly required you to appear physically at the courthouse can now be conducted safely and comfortably from the privacy of your home.
- Electronic signatures and copies of previous signatures now acceptable. As you can imagine, bankruptcy filings tend to involve a good deal of paperwork and a lot of signing your name to acknowledge that you have received it. In order to preserve social distancing guidelines, the Bankruptcy Court has made it easier for you to sign documents remotely. With your permission, your attorney can even attach a copy of your physical signature after making the documents available to you, further removing you from unnecessary stress in this trying time.
Delays and Changes to Bankruptcy Process
The wheels of justice move slow, as the saying goes, and that because something this important is worth doing well – if at times slowly. As these rule changes come into effect, the court continues to cancel meetings and reschedule them after due consideration, for example all necessary 341 meetings with creditors – ie. the people and businesses you may owe money.
These changes mean it may take longer for cases to move through the system, and it will take longer to complete the terms under which you will be expected to repay what the court feels you can. Then, and only then, you’ll be able to move forward with a sense of closure. At times, this process may seem to be moving far too slowly, but it will move – so long as you file.
Act Now By Contacting a Minnesota Bankruptcy Lawyer
If you are considering filing for bankruptcy, the best time to act is now. Give some serious thought to at least contacting an attorney. Consider filling out a Free Evaluation form in order to take a long, hard look at your financial reality now – and for the foreseeable future.
Check out our Free Book called The Truth About Bankruptcy and find out how bankruptcy in Minnesota actually works.
If you have filed for bankruptcy, or if you are considering doing so, then Walker & Walker can help. Contact us now for quick, confidential information you can trust.
