Legal Help From Experienced Minnesota Consumer Bankruptcy Lawyers
Providing a bankruptcy consultation with a Minnesota bankruptcy lawyer
Serving Minneapolis • St. Paul • Edina • Bloomington • Roseville and all of Minnesota
Neff Law Firm, P.A., in a Minnesota consumer bankruptcy law firm that has experienced Minnesota consumer bankruptcy attorneys available to help assess your financial problems. An experienced Minnesota bankruptcy attorney from the law firm can help debtors assess available debt relief. These skilled Minnesota consumer lawyers can help with more than one legal case type facing consumers.
Chapter 7 and Chapter 13 Consumer Bankruptcy
Filing for consumer bankruptcy is never an easy decision. Most people have many consumer bankruptcy questions and concerns about the process and the outcome of a personal bankruptcy. Some people let fear of consumer bankruptcy prevent them from getting the financial help it can offer. This is unfortunate. A consumer bankruptcy is perfectly legal and may be the most responsible option available to help you get back on your feet financially. Neff Law Firm, P.A., is a Minnesota consumer bankruptcy law firm with over 24 years of experience helping consumers file a consumer bankruptcy.
Answers to Your Minnesota Personal Bankruptcy Questions
Get the facts about consumer bankruptcy before you spend another sleepless night worrying about how to handle mounting debt. You can talk with a lawyer about consumer bankruptcy at the Neff Law Firm, P.A. With offices in Edina (Minneapolis) and Roseville (St. Paul), we are Minnesota bankruptcy law firm convenient to people across the Twin Cities.
Which Type of Personal Bankruptcy Do You Qualify For? - The Means Test
In order to file for individual or joint consumer bankruptcy, you must first have your income and expenses evaluated. Qualifying for Chapter 7 consumer bankruptcy, which completely discharges many types of consumer debt, requires you to pass a means test. If you do not qualify for Chapter 7, you may still be able to file for Chapter 13 consumer bankruptcy, which establishes a repayment plan. The means test is intended to identify debtors who should have the ability to repay at least some of their debt. In a Chapter 13, the court sets up a bankruptcy plan, based on your ability to pay, that will allow you to pay off some or all of your debts in three- to five-years, then discharges any remainder.
When you meet with a Minnesota consumer bankruptcy attorney at our Minneapolis or St. Paul consumer bankruptcy law office, we will review your finances to determine whether you may qualify for debt relief under Chapter 7 or Chapter 13.
The New Credit / Financial Counseling Requirements
Anyone planning to file for a consumer bankruptcy under Chapter 7 or Chapter 13 must attend credit counseling from a court-approved credit counseling agency within 180 before filing for bankruptcy. This can be individual or group counseling. If your debt is primarily consumer debt, you may also be required to take an approved course on financial management.
At the conclusion of your credit counseling session, you will receive a certification of credit counseling and a copy of any debt repayment plan you may have developed. Your Neff Law Firm Minnesota attorney can direct you to the court-approved credit counseling agency closest to you.
Problems Personal Bankruptcy Will Solve
In addition to providing debt relief, personal bankruptcy should prevent creditors from taking any further collection efforts. If collectors do not stop calling you, trying to garnish your wages, or collecting on old debts that have been discharged, you can file a motion to have them ordered to stop, or even sanctioned by the bankruptcy court.
Discharge of your debts through consumer bankruptcy permanently prevents creditors from taking any further action to collect discharged debts covered by the consumer bankruptcy. Put simply, you no longer owe the debts discharged by consumer bankruptcy.
If you were receiving harassing cell phone calls at work that created conflict with your employer, it is important to know that your employer should not fire you because you have filed for or completed a bankruptcy.
Most people are able to pay their debts, or the portion of their debts, covered by the Chapter 13 consumer bankruptcy debt repayment plan. Once the bankruptcy plan is complete, your debts are legally considered discharged. In limited circumstances, a debtor who cannot fulfill their obligations under the bankruptcy plan may, under certain circumstances petition the bankruptcy court for a hardship discharge.
Financial Problems Personal Bankruptcy Cannot Solve
Some debts cannot be relieved through personal bankruptcy. These "non-dischargeable" debts include most back taxes and other tax debts, fees and fines owed to the government, back child support and alimony, student loans (in most cases), and any debts you did not disclose to the court in writing when you filed for consumer bankruptcy.
Chapter 7 consumer bankruptcy cannot discharge debts relating to lawsuits for "willful and malicious injuries to person or property (including injuries caused by driving while intoxicated)," debt for benefit overpayments, debts for condo or cooperative housing fees, and debts on certain tax-advantaged retirement plans.
Chapter 13 consumer bankruptcy CAN discharge debts for willful and malicious injury to property, some debts relating to the payment of tax obligations, and some debts relating to property settlements in divorce or separation.
Why You May Want to Pay Some Debts That Could Be Discharged
Some people choose to voluntarily repay some of their debts, even though it is was legally discharged it during bankruptcy. For example, someone may choose to pay their car loans or mortgage (if they wish to keep the real or personal property securing the loan), a family doctor whom they depend upon for medical care, or a family member who loaned them money. This must be coordinated through the bankruptcy court to avoid unfairness to other creditors.
Your Credit After Consumer Bankruptcy
A consumer bankruptcy may appear on your credit report for seven to ten years and will have a negative affect on your credit rating. It will take time to reestablish your credit. Remember, however, that most people who declare consumer bankruptcy have had trouble paying their bills and have already done tremendous damage to their credit. Plus, a Chapter 13 consumer bankruptcy can actually begin to repair your credit as, month by month, you make timely payments on your plan.
Contact a Minnesota Consumer Bankruptcy Lawyer
Contact a Minneapolis consumer bankruptcy lawyer at our Edina office or a St. Paul consumer 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. For a bankruptcy consultation with an experienced Minnesota consumer bankruptcy attorney 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.
The information contained herein on Chapter 13 does not constitute the giving of legal advice. It is not a full explanation of all available information on Chapter 13 bankruptcy. The reader should not rely on this information. This information does not substitute for the advice of a licensed lawyer related to Chapter 13 bankruptcy or any other legal subject.
