Serving the Twin Cities
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Free Consultation
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* Free consultations are for individuals who are interested in filing bankruptcy. I will analyze your financial situation & indicate whether you qualify for filing bankruptcy. Free legal advice is not available from this office.
Bankruptcy: Chapters 7 & 13
You can declare bankruptcy once you have ascertained that it has become impossible to pay off creditors.
It can give you a chance to start over, as most debts are relieved after bankruptcy has been filed.
Chapter 7: Get A Fresh Start
Chapter 7, or liquidation bankruptcy, means that your "estate" – i.e., your assets – is sold in order to pay off your creditors. A reorganization bankruptcy can also involve the selling of assets, but more often than not you can retain a majority of your assets while your creditors' needs are assessed.
In a Chapter 7 bankruptcy, the bankruptcy court appoints a trustee who reviews your assets so that they may be distributed to creditors. The benefit to filing a Chapter 7 bankruptcy petition is that it stops all creditors from calling or contacting you and provides you with a fresh start.
Chapter 13: Clear Your Debt
A Chapter 13 bankruptcy helps consumers who have a regular income to create a plan to repay all or part of their debts. Debtors create a repayment plan to pay installments to creditors over three to five years.
The greatest benefit to filing Bankruptcy under Chapter 13 is that it provides you with an opportunity to save your home from foreclosure.
We'll help you with all the particulars and paperwork involved in filing Chapter 13, including:
- Analyzing your debt
- Determine eligibility and gauge your income
- Establish your property end exemptions
- Complete and file all forms
- Represent you at hearings and help negotiate a payment plan with creditors
If you are dealing with mounting bills and feel overcome with stress due to your financial situation call now.
To request a FREE CONSULTATION
please call 612-377-5311 today.
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