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Bankruptcy 101 Minnesota

Need a fresh start?

Providing a bankruptcy consultation with a Minnesota bankruptcy attorney.

Serving people in Minneapolis, St. Paul, Bloomington, Edina, Roseville and elsewhere in Minnesota.

Minnesota Debtors often desire basic bankruptcy information. Historians do not all agree on the origins of the actual word bankruptcy, but the concept of having a release from debt such as bankruptcy goes back many years. Bankruptcy was founded centuries ago as a way of forgiving debt at timely intervals. In the book of Deuteronomy there is a reference to the concept of the release of debt. Centuries ago in Rome, there was also a concept of bankruptcy.

Basic Bankruptcy Information

The Bankruptcy concept of releasing debt has been present for many years and been memorialized through law passed by the United States Congress. This law has been periodically changed to meet societal needs. The law was recently changed by the Bankruptcy Reform Act of 2005 , which is commonly referred to as the new bankruptcy law.

Information on Chapter 7 and Chapter 13 Bankruptcy

Chapter 7 and Chapter 13 of the United States Bankruptcy Laws can provide valuable debt relief to qualified debtors. Chapter 7 is sometimes referred to as a straight bankruptcy. It allows for the discharge of many types of common unsecured debt. A Chapter 13 Bankruptcy is sometimes referred to as a wage earners plan since it works out a plan for the payment of debt over a period of time.

Chapter 7 Bankruptcy Minnesota

A Chapter 7 Bankruptcy is only available to qualified debtors. There must be a full evaluation of a debtor's situation including the means test before there can be a determination of a debtor's eligibility for Chapter 7 relief. A qualified debtor may be able to get relief through Chapter 7 from foreclosure, repossession, garnishment and/or other debt relief problems. There are certain debts that cannot be discharged including spousal maintenance, support obligations, taxes, student loans, and other types of debt as well. There can be an individual filing or a joint filing by spouses. Many Minnesota bankruptcies are filed in the Minneapolis or St. Paul offices of the United States Bankruptcy Court (a unit of the Federal District Court). At the conclusion of a bankruptcy a debtor may find that his or her debts are greatly reduced if not completely cleared allowing for a fresh start.

Chapter 13 Bankruptcy Minnesota

Chapter 13 allow for the establishment by a qualified debtor of a debt repayment plan. This plan allows a debtor to enter into an agreement with his or her creditors to repay a portion of his or her debt over a set period of time (36 to 60 months). When the repayment period is concluded, any remaining debt covered under the Chapter 13 plan may be discharged (forgiven). Some debts, however, cannot be discharged, such as spousal and child support obligations, taxes, student loans, and other types of debt as well. Chapter 13 applies to debt relief for individuals (and businesses that are not incorporated). A qualified debtor should have a regular source of income and his or her debt must fall within the limits set by law. Many Chapter 13 bankruptcies in Minnesota are filed in the Minneapolis or St. Paul offices of the United States Bankruptcy Court (a unit of the Federal District Court).

Meeting with a Minnesota Bankruptcy Attorney

A consumer can meet with a Minnesota bankruptcy attorney and get valuable debtor information. Neff Law Firm, P.A., has Minnesota bankruptcy attorneys with over 61 years of combined legal experience providing bankruptcy information to consumers.

Minnesota Consumer Bankruptcy Law Firm

Neff Law Firm, P.A., is a Minnesota bankruptcy law firm that has over 24 years of experience helping debtors file consumer bankruptcy. The firm's Minnesota bankruptcy attorneys can provide basic bankruptcy information including explaining the bankruptcy process. The firm represents people in Hennepin County, Ramsey County, Washington County, Scott County, Anoka County and elsewhere in Minnesota.

Appointment with a Minnesota Bankruptcy Lawyer

Contact a Minneapolis bankruptcy lawyer at our Edina office or a St. Paul bankruptcy lawyer at the Roseville office of the Neff Law Firm, P.A., to discuss your specific situation and your options for debt relief by filing for Chapter 7 bankruptcy protection. Make a confidential appointment to meet in person with an experienced Minnesota bankruptcy attorney for a bankruptcy consultation at either our Roseville (St. Paul) or Edina (Minneapolis) law office by calling our central scheduling telephone number of (952) 831-6555. We offer flexible appointment times for your convenience.

We are a debt relief agency. We help people file for relief under the Bankruptcy Code.
This page does not constitute the giving of legal advice. It does not purport to include all information available on bankruptcy. The reader should not rely on this information. This information does not substitute for seeking advice and/or legal assistance.
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