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Providing a bankruptcy consultation with a Minnesota bankruptcy attorney.
Serving people in Minneapolis, St. Paul, Bloomington, Edina, Roseville and elsewhere in Minnesota.
The Minnesota bankruptcy attorneys at Neff Law Firm, P.A., have helped many debtors who find themselves drowning in debt and unable to pay necessary expenses. These expenses and accumulated bills may be based on credit cards, hospital expenses, doctor bills, past due mortgage payments, being behind on rent, late car payments, and an inability to meet other financial obligations. Personal bankruptcy may be used by qualified debtors to get debt relief from burdensome legally related financial concerns such as foreclosure, repossession, judgments and garnishment. The federal bankruptcy law provides qualified people debt relief through the filing of a personal bankruptcy. An individual or married couple filing a bankruptcy to resolve personal debts that are not primarily based on business may be referred to as filing a “personal bankruptcy.” The Minnesota bankruptcy attorneys at Neff Law Firm, P.A., have helped people to file personal bankruptcies for over 23 years. The law firm, however, also handles business bankruptcies as well.
Personal Bankruptcy for a New Beginning
The law requires a person to meet specific criteria in order to qualify for the filing of a personal bankruptcy. A Minnesota personal bankruptcy lawyer from Neff Law Firm, P.A., can help a debtor understand the specific criteria that must be met to be eligible to file bankruptcy. Filing for personal bankruptcy may provide a debtor a new beginning when the debtor works conscientiously to meet the legal requirements and obligations connected with filing a personal bankruptcy and responsibly handles his or her financial obligations going forward. A debtor filing for personal bankruptcy may be allowed to keep certain of his or her assets and possessions, which are called exempt property, but may be obligated to give up or surrender other assets that do not meet that definition under the law. In filing a personal bankruptcy it is important to understand which set of exemptions may be used. In Minnesota, either state or federal exemptions are available. A debtor may not, however, mix state and federal exemptions, but instead must choose to use either all the federal bankruptcy exemptions or the Minnesota state exemptions. Because each debtor’s situation is unique, the choice of exemptions must be based on what is most appropriate for the particular debtor. The skilled Minnesota bankruptcy attorneys at Neff Law Firm, P.A., have long experience helping debtor’s choose the best set of exemptions to use in their situation when filing for personal bankruptcy relief.
Procedure when Filing a Personal Bankruptcy
Generally, a debtor starts by having a proper evaluation to assess whether he or she meets necessary criteria for filing a personal bankruptcy. This includes consideration of the legal standards for both a Chapter 13 and Chapter 7 bankruptcies. A debtor who may not qualify for a Chapter 7 personal bankruptcy, may still be able to obtain debt relief through the filing of a chapter 13 personal bankruptcy. If the debtor is qualified for bankruptcy and believes it to be a suitable method of relief under the circumstances, he or she must carefully fill out a voluntary petition for bankruptcy, including all of the required schedules and statements as well as satisfying other pre-filing requirements and then file the completed documentation with the correct location of the federal bankruptcy court. All information in the petition must be complete, accurate, verifiable and truthful; a debtor signing his or her bankruptcy documents is declaring under penalty of perjury that the information is true and correct. It is important for a debtor to understand that the filing of petition is an extremely important act and must be done in an honest, thorough, accurate and verifiable manner. Some key considerations that come into play while preparing a bankruptcy petition are the debtor’s real and personal property, expenses, outstanding financial obligations, earnings and other income and financial transactions in the months and years prior to filing for personal bankruptcy.
Debtor’s Obligations when Filing a Personal Bankruptcy
An individual or married couple seeking to file personal bankruptcy must provide complete, accurate and verifiable information regarding all assets, income, expenses and liabilities, as well as detailed information on his or her financial transactions in the years prior to filing a personal bankruptcy. Failure to provide such information may result in the bankruptcy being dismissed or even sanctions for violation of the bankruptcy laws. Additionally, the debtor must complete both pre-filing counseling and post-filing debtor education and file the certificates of completion with the bankruptcy court. A debtor must also attend any required hearings and provide to the trustee appointed to oversee his or her case, verification of identity as well income and account information as well as any other information the interim trustee might request. A knowledgeable Minnesota bankruptcy attorney may help a debtor make sure that all of his or her paperwork meets necessary legal standards and complies with applicable bankruptcy law.
Minnesota Chapter 7
Debtors in Minnesota need to meet the means test in bankruptcy as a part of evaluation for filing a Chapter 7 bankruptcy. A Minnesota bankruptcy attorney from Neff Law Firm, P.A., can help a debtor determine whether he or she is qualified to file a Chapter 7 bankruptcy in Minnesota and if so what steps need to be taken to properly handle the matter.
Minnesota Chapter 13
Consumers in Minnesota who find that they are drowning in debt may consider doing a wage earners plan under Chapter 13 that would allow them to better handle debt obligations. The Minnesota bankruptcy lawyers at Neff Law Firm, P.A., have many years of experience helping eligible debtors prepare wage earners plans for bankruptcy.
Minnesota Bankruptcy Information
The bankruptcy attorneys at Neff Law Firm, P.A., welcome an opportunity to meet with debtors and provide relevant Minnesota bankruptcy Information. These experienced Minnesota bankruptcy lawyers have helped many debtors file for bankruptcy relief.
Legal help from a Minnesota bankruptcy attorney
Consumers often find that it is great benefit to them to have legal help from an experienced Minnesota bankruptcy attorney. A skillful bankruptcy lawyer can help the debtor by knowledgeably reviewing a debtor’s financial data and related situation and assessing the debtor’s eligibility for debt relief under the United States Bankruptcy Code. If the consumer chooses to proceed with a personal bankruptcy, a Minnesota bankruptcy attorney who has been retained may then help the debtor by analyzing his or her financial situation, rendering advice and assistance as to whether the debtor qualifies for chapter 7 or chapter 13 bankruptcy, selection of the appropriate set of exemptions, meeting all legal requirements for the type of petition to be filed, preparing and filing the petition, exhibits, attachments, schedules, statements and lists and other documents required by the court and represent the debtor at the meeting of creditors.
For a bankruptcy consultation with an experienced Minnesota bankruptcy attorneys at Neff Law Firm, P.A.’s, Edina office covering Minneapolis and the west metro area or the Roseville office covering St. Paul and the east metro area call (952) 831-6555.
