Attorneys For Bankruptcy

If you are looking for attorneys to handle your bankruptcy case you want to make sure you are hiring a good experienced attorney. This attorney should be able to give you advice regarding all of your debt settlement options including chapter 7, chapter 13 and other types of bankruptcy protection. This attorney should also have experience dealing with debt collectors and be able to offer advice on settling your debts, if that is the best option. If you have questions about bankruptcy law in Minnesota give our office a call at 952-294-0144.

Twin Cities Bankruptcy Lawyers

If you have been thinking about filing for bankruptcy protection, you need to hire an experienced MN bankruptcy lawyer. You want to make sure that your attorney has filed and seen your type of case before. It is important when the bankruptcy is filed to keep the things you want including your house, car, and other personal possessions. Our office can help you file for chapter 7 bankruptcy or chapter 13 bankruptcy.

How to go Bankrupt

If you have ever watched the tv show The Office you may recall a time when character Michael Scott played by Steve Carell shouted in front of his collages “I declare BANKRUPTCY” and though all his debts would go away. Oscar another character reminded Michael that he couldn’t just declare bankruptcy and have debts go away. Here is a link to the scene: http://www.youtube.com/watch?v=hiCilTzhXrA

Many clients do not know how to file bankruptcy, when to file or if they should file bankruptcy. My office is always happy to talk to individuals who are having trouble with debt. We recommend bankruptcy only in cases where it is necessary. I bankruptcy is the best option you will be given the cost and a time line on the bankruptcy process. We will also take the time to answer your questions and go over the do’s and don’ts of bankruptcy.

Bankruptcy Laws In Minnesota

If you are filing for bankruptcy the rules are governed by the Federal Bankruptcy Laws. State laws may affect your bankruptcy filing for several reasons, the main reason being if you need to use the Minnesota exemptions. The primary reason or using the Minnesota exemptions are if you have equity in your homestead. The Minnesota homestead exemption currently allows you to use up to $360,000 to protect your home. You can also exempt retirement accounts for up to 1 million, using the federal exemptions. For most of our clients they will file using the federal bankruptcy exemptions.
I get asked on occasion is bankruptcy the right choice for me? The best answer is I do not know until I sit down and meet with the potential client to discuss all of the potential options. It is important to meet with you bankruptcy attorney to make sure that he or she understands your situation and can give you good advice. Bankruptcy law has a lot of traps that can cost clients money, so it is important to talk to your bankruptcy lawyer before making any repayments to friends or relatives.

Jail for Debtors in Minnesota?

Although our founding fathers allowed redress of debt (bankruptcy) through Article 1, Section 8 of the Constitution, which effectively stopped debtors prison, debtors can still end up in jail.

A recent series in the Star Tribune: http://www.startribune.com/video/94499314.html#/94499314/video/1/sb has followed individuals who have been put in jail partly as a result of owing debts. The owing of money cannot cause the punishment of jail, but the failing to follow court orders can.

Many individual get lost in the legal morass and are unsure how to proceed. Instead of looking for help with an attorney they choose to ignore the problem. By ignoring the problem (not answering calls, not opening mail, not responding to court documents) these individuals have ended up in contempt of court.

Contempt can be purged if the debtor provides the disclosure of assets as required on the demand for disclosure, pays the bond (usually the amount of money owed to the creditor), pays the amount of the debt owed plus attorney fees and costs, or files for bankruptcy.

The key is to contact an attorney to discuss your situation. Never ignore documents from a court or creditor even if that creditor is harassing you.