Exploring Alternatives to Filing for Bankruptcy in Edina
Debt Relief — You Do Have Options
At MLG Legal, we have a team of experienced debt relief and bankruptcy attorneys that are dedicated to helping our clients find the debt relief solutions that are right for them. Whether you are struggling with credit card debt, medical bills, or another type of debt, we are here to help. We utilize a combination of debt relief strategies such as mortgage modification, lease negotiation, debt settlement, and more to help you get your finances back on track so that you can enjoy a healthier financial future.
If you are facing financial hardship, or you feel like you just can’t get caught up no matter what you try, debt relief may be the right solution for you. Contact the team of Edina lawyers at MLG Legal today to schedule a consultation to get started.
Debt Relief Can Help if You Are Struggling to Pay the Following Debts:
- Medical Bills
- Credit Cards
- Personal Loans
- Utility Bills
- Payday Loans
- Store Credit Cards
- Auto Loans
There are debt relief options for most types of unsecured and secured debt. The experienced debt relief attorneys at MLG Legal can help you determine the best course of action for you based on the amount and type of your debts.
We’ll Provide You With the Guidance You Need Through the Debt Relief Process
You Can Expect the Highest Level of Professionalism and Integrity
Our Debt Relief Attorneys Are Here to Work Hard for the Best Results Possible
With MLG Legal, Your Goals and Needs Always Come First
Types of Debt Relief
When you work with MLG Legal, you’ll find that there are multiple options when it comes to debt relief. From debt settlement and debt consolidation to lease negotiations and even filing for bankruptcy when necessary, we will work with you to find the best debt relief option, or combination of solutions, that are best for your particular situation.
Debt settlement is a type of debt relief that works with unsecured debt such as credit card bills. These creditors understand that if you choose to file for bankruptcy, they could receive much less, or possibly none, of the money they are owed, so they are typically willing to accept a portion of what you owe. Our debt relief attorneys negotiate with your creditors to reduce your debt.
Debt consolidation occurs when we take several of your credit accounts and combine them into one line of credit. Oftentimes, this will also result in a lower interest rate. After a debt consolidation, you’ll only be responsible for one monthly payment rather than the two, three, four, or more accounts that have been combined during the process.
Interest Rate Negotiation
Interest rate negotiation is a debt relief option for credit card debt. Simply put, we negotiate with your credit card company for a lower interest rate. The result would be lower monthly payments and more of your monthly payment being put toward the principle that you owe so that you can pay down the debt quicker.
Refinancing occurs when you take out a new loan that offers a lower interest rate than one you currently have. You then use that loan to pay off the one with the higher interest rate. This results in you owning the same principle, but with a lower interest rate, so it may decrease your monthly payments.
Loan and Mortgage Modification
A loan or mortgage modification occurs when you negotiate the terms of a loan or mortgage. For instance, if you have a variable interest rate, you may want to change that to a fixed interest rate so that you have a more predictable monthly payment. Or you may want to change the length of your loan to allow for more time to pay back the amount owed which will result in lower monthly payments. When you work with an experienced debt relief attorney like those at MLG Legal, we can negotiate on your behalf to accomplish these modifications so that your loans are more manageable.
The idea of a lease negotiation is similar to that of a loan or mortgage modification in that you are negotiating to change the terms of the lease. Ideally, you’ll want these changes to offer you a more affordable monthly payment so that you can continue meeting your monthly payments. Oftentimes, leaseholders are willing to negotiate because it helps to ensure that they continue to receive a regular form of income.
Chapter 7 Bankruptcy
When the debt relief options above won’t accomplish the desired result, a Chapter 7 bankruptcy may need to be considered. Chapter 7 bankruptcy is also known as liquidation bankruptcy. It requires that the individual filing meets certain income requirements in order to be eligible. If you’ve considered other debt relief options, but need a more aggressive plan, Chapter 7 bankruptcy might be right for you.
Chapter 13 Bankruptcy
Chapter 13 bankruptcy, like Chapter 7, is a debt relief option for those who have considered other solutions but they simply won’t fix your financial situation. Chapter 13 bankruptcy is typically filed by those who do not meet the income requirement to file a Chapter 7 or have assets they wish to protect. This type of bankruptcy requires the individual to make monthly payments on a repayment plan for three to five years following the bankruptcy to repay some of their debt. After this period, the rest of their unsecured debt is discharged.
Reasons Why You May Want to Consider Debt Relief
If your finances are beginning to feel like too much and you are struggling to pay your monthly bills, it may be time to consider your debt relief options. Many times, people try to push forward for as long as possible, juggling different bills, but the sooner that you get help from an experienced debt relief attorney, the better. If you are already receiving collection calls, have received a repossession or foreclosure notice, or find that you do not have enough income to pay for your expenses, you should contact a debt relief attorney. The sooner that you contact a professional, the better that we can help you get out of your financial plight. The longer you wait, the more likely that bankruptcy will be the only option available.
To learn more about your debt relief options, contact the Edina lawyers at MLG Legal today.
Contact our Edina attorneys today to schedule your consultation.
An Experienced Debt Relief Lawyer Matters
If you are considering pursuing any of the debt relief options that we discussed above, having an experienced attorney on your side matters. While you can attempt these negotiations on your own, you should keep in mind that debt relief attorneys have the expertise, knowledge, and experience to be more successful at debt relief negotiations. Not only does a lawyer know the lay of the land but hiring an attorney shows your creditors that you are serious, and this makes them more likely to take negotiations seriously.
Seek Financial Help As Early As Possible
At MLG Legal, we will help you no matter where you are in the debt relief process, whether that means negotiating with creditors or filing for bankruptcy.
But, the sooner you contact us, the sooner we can help. If you are looking to avoid bankruptcy, it’s best to seek the assistance of a debt relief attorney when your financial struggles first begin. However, we understand that this is not always possible, and we have clients that contact us in all different stages of the debt relief and bankruptcy process. We are always happy to help and provide you with the quality legal representation that you deserve.
If debt settlement sounds like it may be the financial solution that you’ve been looking for, contact our team of Edina attorneys today at MLG Legal.
We Begin Each Relationship With a Debt Relief Consultation
At MLG Legal, we want to guide you through the debt relief process the best we can. We are dedicated to providing each of our clients with the legal assistance and representation that they need. That’s why we begin each relationship by getting to know you, your goals, your needs, and your financial situation. We take the time to analyze your income, debt, and budget so that we can help you find the debt relief solution that will work best for you.
Learn more today about how loan modification may be able to help you avoid bankruptcy.
At MLG Legal, We Create a Personalized Debt Relief Plan for You
After the initial consultation, our law team will create a personalized debt relief plan tailored to your needs. This may involve debt relief solutions such as a mortgage modification, lease negotiation, or refinancing. Your plan may include one of these options or a combination of these solutions. At MLG Legal, we understand that everyone’s situation is different and that’s why we work with you one-on-one to find the solution that will work best for your specific situation. Once we create your personalized debt relief plan, we can move forward to help you find your way to financial freedom.
If a lease negotiation sounds like it may help you avoid bankruptcy, the team at MLG Legal can help. Contact our Edina attorneys today.
Our Debt Relief Attorneys Negotiate On Your Behalf
If debt negotiation is part of your debt relief plan, we will begin negotiations to make your debt more manageable on a month-to-month basis. Our debt relief attorneys will contact your creditors and negotiate on your behalf. When you work with MLG Legal, you can rest assured that we have the experience and knowledge necessary to get you the best results.
Learn more today about how loan modification may be able to help you avoid bankruptcy.
Schedule Your Debt Relief Consultation
Are you ready to take control of your finances? Our team of Edina lawyers at MLG Legal will provide you with unparalleled legal assistance and representation through the debt relief or bankruptcy process. No matter where you are in your debt relief journey, our attorneys are here to help. Contact us today to schedule a consultation and to start working your way to a healthier financial future.