Real Help with Debt Relief in Minnesota
In the face of overwhelming debt, collections calls, threats of foreclosure, or garnishment of wages, bankruptcy can offer relief and ease the burden. Filing bankruptcy can discharge – erase – most debts, including medical and credit card debt. Filing bankruptcy can allow you to keep your home and your car. In most cases, you are able to retain your personal property as part of your bankruptcy filing. We offer an initial consultation for perspective bankruptcy clients to assess your eligibility to file bankruptcy and discuss your options in filing a chapter 7 or chapter 13 bankruptcy.
Chapter 7 Bankruptcy
Filing a Chapter 7 bankruptcy can discharge most unsecured debts, like medical and credit cards and provide a fresh start to your financial future. From the date of filing, a Chapter 7 bankruptcy case last about three months. Most clients will attend one hearing called the Meeting of Creditor before a trustee. These hearings are typically held via zoom or conference call, which your attorney will also attend.
Chapter 13 Bankruptcy
Clients with higher incomes, higher asset values, or prior chapter 7 filings may not qualify to file a Chapter 7 bankruptcy but can still find relief by filing a Chapter 13 Bankruptcy. This type of bankruptcy requires repayment of a portion of your debts over a three to five year period, after which the remaining balance is discharged. Filing a Chapter 13 bankruptcy can help you keep your car and home, while consolidating debt into one monthly payment
Bankruptcy In Minnesota: Common Questions
What do I need to have available for my initial consultation with a bankruptcy attorney?
We offer an initial consultation for perspective bankruptcy clients. Filing bankruptcy requires a complete disclosure of your income, assets, and debts. Having at least a generally idea of the types of debts you face, the assets you own, and your income is all you need for us to give you an assessment of the best path forward for your unique circumstances. Once we decide how to proceed, you will be provided with a list of documents necessary to complete your case.
Will filing a bankruptcy stop harassment from creditors?
Receiving phone calls and letters from creditors is stressful. When your bankruptcy case is filed, the automatic stay begins and all collections efforts from creditor must immediately stop. Once your debts are discharged, creditors are not allowed to take any further steps to collect these debts.
Can I file a bankruptcy case if I have filed before?
If your prior filing occurred at least eight years ago, you are eligible to file a Chapter 7 bankruptcy. If it has been less than eight years, you may still be able to file a Chapter 13 bankruptcy. You will be able to discuss you situation with our attorneys to determine how best to assist you with
How will filing a bankruptcy impact my credit score?
Filing a bankruptcy will be a negative entry on your credit report. However, for most people considering bankruptcy, non-payment of one or more credit cards is already a negative entry each month. A discharge of debts will allow you to rebuild your credit. Because you will have a more favorable debt to income ratio following discharge, you will likely receive offers of credit and even qualify for a mortgage after receiving your discharge.
Talk To A Skilled Bankruptcy Attorney Today
Messick Law, PLLC represents clients across Minnesota in Chapter 7 and Chapter 13 bankruptcy cases. To schedule a consultation with one of our bankruptcy attorneys to start down your path to financial freedom, call us at 651-505-2655