Chapter 7 bankruptcy is often referred to as a "fresh start" bankruptcy. The reason is most (but not all) unsecured debts are discharged (ie eliminated) such as Credit Cards, Utility Bills, Medical Bills, and Loans.
The United States Bankruptcy Code sets the qualifications for who can file a Chapter 7 bankruptcy. They are:
Chapter 7 Costs: $375 - Includes filing fee, credit counseling courses and credit report. These costs must be paid prior to filing.
Chapter 13 bankruptcy is sometimes referred to as a "repayment" plan because debtors pay some or all of their unsecured debts (interest free) over a 3-5 year plan. Your payment is based on what you can afford to pay (income minus expenses).
There are a few specific eligibility requirements for filing in Minnesota. Generally, a debtor must have the ability to make a payment on a bankruptcy plan and your debt may not exceed:
Chapter 13 Attorney Fee: In chapter 13 bankruptcy the court sets our fees. If you are under the median income, the attorney fee for chapter 13 bankruptcy is $3,000. The attorney fee, if you are above the median income, is $3,500. Occasionally, we bill our time hourly. The attorney fee is paid when you make a payment on your chapter 13 plan.
I filed my first MN Bankruptcy case in February, 1983. In the time since then, I have filed thousands more. I have the knowledge and expertise to resolve any debt problems very quickly and easily.
I understand the financial pressures my clients face because I experienced these same pressures growing up. I will make sure your case gets filed within days, not weeks, allowing you to immediately get on the road to a debt-free life again!
I can relate to the stress debt can cause. I have the solution to relieve your stress and get you back on solid ground. The biggest regret most of my clients have is waiting too long.
Helping people is my passion! I love the smile I get to see on my clients faces when they're finally debt free! Let me know how I can help.
I like helping people. Through my bankruptcy practice, I have helped hundreds of clients - individuals, families, and business owners - take back financial control of their lives and get the fresh start that they need.
I love making people laugh, hearing their stories, and helping them get their second chance. That is why bankruptcy is extremely gratifying work for me.
Debt related stress impacts so many parts of our lives. I love that our clients can hand that burden off to us, and get back to living and enjoying life!