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FAQ Foreclosure2019-06-14T21:47:49+00:00

You need answers, and you need them now. Our FAQ section will help you better understand the challenges you face with common legal questions.

However, if you are ready for a legal consultation, free of charge and free from judgment, contact the lawyers in Minnesota at Rosenzweig Law Office. Together we can wipe the slate clean and help you start your new, debt free life. You do not have to go this alone. Call today (MN) 952.920.1001 (AZ) 480.207.2203.

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ANSWER: Individuals may file for personal bankruptcy without their respective spouses filing. However, the spouse of a bankruptcy petitioner must provide certain information for use in the debtor’s bankruptcy paperwork. In addition, a debtor’s spouse may be affected by the petitioner’s bankruptcy even if the spouse is not actively participating in the proceedings. In Chapter 13 cases, much of the debtor’s income will be ordered to go toward monthly payments. In Chapter 7 cases, jointly owned property may not be completely exempt and therefore not completely protected. Also the non-filing spouse will still be liable for the jointly owed debts, even if the debt is discharged for the debtor.

ANSWER: Yes. Since 2005, bankruptcy petitioners are required by the Bankruptcy Code to attend a Credit Counseling course prior to filing and a Financial Management class within sixty days of their Section 341 Meeting of Creditors. The Section 341 Meeting of Creditors, or “341 hearing” for short, is a very brief (usually five to ten minutes) informational meeting that is scheduled for approximately thirty days from the date of filing. At this meeting that you attend with your attorney, the bankruptcy trustee will question the debtor about the bankruptcy petition that was filed to verify the accuracy of the information contained in it.

ANSWER: Chapter 7 bankruptcy in the most common form of bankruptcy use by individuals and allows for the wiping out of most unsecured debt. Unlike a Chapter 13 bankruptcy which involves a payment plan established by the bankruptcy court and you and allows for the ordering payoff of your debt. Chapter 7 bankruptcy allows you to keep certain property. The property that you are allows to keep is referred to as exemptions. This allows for what is commonly known as a “fresh start”.

ANSWER: Contact our office to schedule an appointment to speak with us. You can reach us by using our online form. We can also be reached by phone at MN (952) 920-1001 or AZ (480) 207-2203. Our attorneys can help you to decide whether bankruptcy is right for you and, if so, which type makes the most sense for your particular circumstances. Different types of bankruptcy have different eligibility requirements, and so it is very important that you consult with an attorney prior to planning any bankruptcy-related action.

ANSWER: Contact our office to schedule an appointment to speak with us. You can reach us by using our online form. We can also be reached by phone at MN (952) 920-1001 or AZ (480) 207-2203. Our attorneys can help you to decide whether bankruptcy is right for you and, if so, which type makes the most sense for your particular circumstances. Different types of bankruptcy have different eligibility requirements, and so it is very important that you consult with an attorney prior to planning any bankruptcy-related action.

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