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Speak With a Minnesota Bankruptcy Attorney, Before You File

Whether you're tired of being hounded by creditors or are afraid of having your car or home repossessed, speaking to a Minnesota bankruptcy attorney could help you get a fresh start.  For some people, filing for bankruptcy is the best option.  A Minnesota bankruptcy attorney can help you understand whether filing for bankruptcy is right for you.

 

Changes to the bankruptcy laws have made the options and consequences of filing for bankruptcy more confusing than ever.  You can file under Chapter 7 to get a ‘fresh start' or under Chapter 13 in order to keep some of your possessions while you pay off your debts.  In some cases, you may be required to file Chapter 13 or your Chapter 7 filing could be converted into a Chapter 13 bankruptcy by the bankruptcy trustee.  If you're confused, or even if you're just afraid to answer the phone for fear that it's another creditor on the line, talk to a Minnesota bankruptcy attorney now.

Chapter 7 Bankruptcy and Chapter 13 Bankruptcy Provide Very Different Protections

For most people, the term "bankruptcy" brings to mind Chapter 7.  Chapter 7 bankruptcy allows you to erase most of your unsecured debts such as credit card debts, medical bills, and other unsecured personal debts.  Some debts are not dischargeable, such as alimony, child support, some back taxes, and student loans.  Under Chapter 7, the bankruptcy trustee has the option to liquidate (sell) your non-exempt assets to pay off your unsecured debts and then discharge your remaining debts.  Most Chapter 7 filers possess few non-exempt assets, however.  Exempt assets include, to a limited value, furniture, clothing, vehicles, appliances, etc. 

 

Chapter 13 bankruptcy allows you keep some assets by creating a plan.  Your Chapter 13 plan balances your income against your living expenses and debts and creates a plan for you to make regular payments on your debts while allowing you to keep your home or car.  If you've had some financial upheaval, such as sudden medical bills or unexpected losses, but have regular income, filing under Chapter 13 may be right for you.  Whatever your situation, you need to understand the differences and consequences of each bankruptcy chapter before you act.

Talk to a Minnesota Bankruptcy Attorney Now

You can speak with a Minnesota bankruptcy attorney without obligation.  Don't wait until you're out of choices.  At Total Bankruptcy, we understand that you're under pressure and need complete information before you make decisions that could affect your financial future.  That's why the Minnesota bankruptcy attorneys who sponsor Total Bankruptcy offer a free, no obligation consultation.  Don't wait.  Take this opportunity to educate yourself about the bankruptcy process before your creditors push into making bad decisions about your finances.

 

Just call us toll free at 1 (877) 349-1309 or fill in our online case evaluation to schedule a free consultation with a Minnesota bankruptcy attorney today.

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