Common Personal Bankruptcy Issues to Consider

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Even though most bankruptcies are straightforward, sometimes certain situations arise that require the expertise of a professional. If you find that an unusual circumstance arises during your bankruptcy, it is best to consult with an experienced lawyer in order to work through the complexity of the situation.

Complicated Bankruptcy Issues

The services of a Minneapolis bankruptcy lawyer are suggested if you are dealing with the following circumstances:

  • Homeowners Association Fees: If you in the middle of a foreclosure, be careful during the bankruptcy process because the HOA may still come after you for the monthly fees. Even though you are no longer living in the home, the HOA may continue to hold you responsible for the fees until the foreclosure is finalized.
  • Homeowner Mortgage Loopholes: Sometimes, trustees appointed by the court will comb through mortgage paperwork to look for mistakes in the processing. During bankruptcy, you may think that your home is safe since payments are on time each month, but the trustee will look for a reason to sell the home because of errors in the paperwork.
  • Divorce: If a spouse takes responsibility for a debt during divorce proceedings, the other spouse may think that they no longer have responsibility. But, both spouses may be held responsible for the payments if a bankruptcy occurs.

Managing Bankruptcy

In some situations, a person may be able to handle the bankruptcy paperwork on their own, because they don’t have any unusual circumstances to deal with. But, if one of these complicated bankruptcy issues arises, it is important to call a Minnesota bankruptcy lawyer as soon as possible in order to avoid more complications.

A bankruptcy attorney can analyze your personal situation in order to determine the best way to move forward. These professionals are experienced in working with various types of financial situations, and they can accommodate any type of client.

How to Avoid Getting Stuck With High Credit Card Fees

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Historically, credit card companies have been known for their high costs and hidden fees, and before the Credit CARD Act was passed many consumers were negatively impacted by the viciousness of some of these companies. The Credit CARD act was passed to help protect consumers, but there are still some unexpected fees that you need to avoid.

Credit Card Fees to Watch For

Even though certain types of fees are not allowed according to the Credit CARD Act, there are still sneaky ways that the credit card companies try to get your money. Some of these fees include: high activation fees, credit card insurance, and annual fees.

Even though the Credit CARD Act prohibits certain types of fees, some companies have renamed and/or restructured fees that they previously had. For example, even though initial credit card fees are limited, some companies have skirted around the rules by applying the fee before the credit card is activated. So, the activation fee needs to be paid out of pocket by the consumer, and it cannot be applied to the beginning balance of the card.

How to Avoid Credit Card Fees

The only way to avoid paying these fees is by cautiously researching any credit card offer that you are considering. You may even talk with a Minneapolis bankruptcy attorney to get advice on the legal implications of the credit card agreement. By reading the fine print, you can avoid unexpected high fees.

If you find yourself in a situation where high fees have been applied to your account, the best option is to work with a Minnesota bankruptcy attorney in order to explore the legal options that are available. They will be familiar with the law, and can look through the details of your credit card agreement to be sure that they are compliant with the Credit CARD Act.