Many good people file for bankruptcy. While you may assume a bankruptcy filing indicates that you are irresponsible, our Minnesota bankruptcy attorneys do not believe that. The people we work with often had the best of intentions. They expected to be able to repay the debt they incurred, but for a variety of reasons, from an unexpected medical emergency to the U.S. economy, things did not work out as planned. When it becomes clear that debt is insurmountable, responsible people find out their legal options so they can do what is right for them, for their families, and for the creditors they borrowed money from.
Why is Filing Chapter 7 Bankruptcy the Responsible Choice?
When you file for Chapter 7 you provide certainty for your family and for your creditors. Federal and Minnesota Bankruptcy laws describe what is known as exempt and non-exempt property for purposes of Chapter 7. Exempt property is the property you may keep regardless of how much debt you owe. Non-exempt property is the property that will be given, or sold, to satisfy your debts. Once a Chapter 7 discharge is obtained, you and your creditors can move on with certainty and finality.
Contact a Minnesota Bankruptcy Lawyer to Find Out More!
You can learn more about the impact of filing for Chapter 7 bankruptcy in Minnesota by reading our FREE book, What You Need to Know About Filing Bankruptcy in Minnesota, and by calling our experienced Minnesota bankruptcy attorneys at MN (952) 920-1001 or AZ (480) 207-2203 .