Can I Transfer Non-Exempt Property to Family and Friends?
Everyone filing for bankruptcy wants a way to protect what they have. One of the ways that people commonly think to do this is to transfer any non-exempt property to family or friends. If you no longer own the asset, it cannot be included in your bankruptcy filings. However, it may not be possible, or […]
Do I Qualify For Bankruptcy in MN?
While bankruptcy is a process that anyone can use to recover from crippling debt, not everyone can just file for bankruptcy. In Minnesota, there are specific requirements that you must meet to file for bankruptcy. Otherwise, it is an option that is unavailable to you until your situation changes. This is what you need to […]
Understanding Debt Reorganization with a Chapter 13 Bankruptcy Lawyer
Chapter 13 bankruptcy is designed for people or small businesses with too much debt but have a steady income. Rather than selling off assets to pay debts, you are allowed to continue to operate as usual. However, your debts are reorganized so that some can be discharged, and you can pay the rest. Understanding debt […]
What are the Chances of My Bankruptcy Being Approved? (video)
A bankruptcy proceedings are filed with the court, but not all bankruptcy proceedings are approved. Bankruptcy approval rates vary based on the type filed and the quality of the plans that your attorney comes up with. If your plans are well-made and take into account your situation and creditors’ needs, then you will likely be […]
Regain Financial Stability with an Individual Bankruptcy Attorney
It doesn’t take a large legal firm to manage a bankruptcy case. An individual bankruptcy attorney can help you regain financial stability by managing your case. As long as your attorney can develop your case with the right exemption and asset findings, as well as guide you through the legal process, you can do just […]
Chapter 7 Bankruptcy Attorneys for Maximum Asset Protection
When you hire an attorney to file for bankruptcy, your attorney will also file exemptions to reach the maximum asset protection allowable under the law. Bankruptcy provides certain protections for specific assets, like your home and your car, so that you won’t lose the most essential things that you need to function in society. However, […]
Chapter 13 Bankruptcy Lawyer: Managing Secured vs. Unsecured Debt
There are two types of debt in a bankruptcy: secured and unsecured debt. Your lawyer not only helps identify which debts fall into each category but also plays an important part in managing those debts throughout the bankruptcy process. Each type of debt is treated differently, and how your lawyer handles them can affect how […]
Will I Lose My House or Car in a Bankruptcy? (video)
When you file for bankruptcy, one of the first questions most of our clients ask is, “Will I lose my house or car in bankruptcy?” There is a risk that you will lose certain assets during the process. However, there are protections in place to help you keep the important assets. Your home and your […]
How a Chapter 13 Bankruptcy Attorney Structures a Payment Plan That Works for You
Chapter 13 bankruptcy lets people with a steady income restructure their debts so that they can pay them off over time. Unlike other forms of bankruptcy, you may not be at risk of losing your assets in the process. The key is having your Chapter 13 bankruptcy attorney create a payment plan that works for […]
The Role of a Chapter 7 Bankruptcy Attorney in Liquidating Debt Efficiently
The role of an attorney in any bankruptcy case is to make sure that all of your debts are being addressed and managed correctly. Any missteps can create problems that can derail your plans to get out of debt. Who you choose to be your bankruptcy attorney is the most important step in building your […]