Bloomington, Minnesota Bankruptcy Lawyers

logoAndresen Law Offices, 952-831-1995
Toll-Free: 1-888-744-4051

2001 Killebrew Drive, Suite 330, Bloomington, MN 55425 US
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Minnesota Bankruptcy

When filing bankruptcy in Minnesota debtors have the option of filing chapter 7 or chapter 13 bankruptcy. Depending on your debts and income one chapter or the other will be more beneficial for you and a Minnesota bankruptcy lawyer can help you analyze your debts and the bankruptcy laws to determine which chapter would be best for your situation.

Minnesota chapter 7 bankruptcy is sometimes referred to as a liquidation bankruptcy because debtors must turn over any of their assets that are not covered by the bankruptcy exemptions in Minnesota for liquidation. The MN bankruptcy exemptions list the property that a debtor may keep when filing bankruptcy.

Chapter 7 is the most common chapter of the Bankruptcy Code.

MN chapter 13 bankruptcy is a reorganization bankruptcy because debtors filing under this chapter of the Bankruptcy Code will present to their creditors a plan to reorganize their debts into a more manageable debt repayment plan. Chapter 13 will also provide you with bankruptcy court protection and protection from creditor harassment.

Learn more about your options for fighting your debts by filling out our free online case evaluation form to be connected with a local insolvency attorney. on Google+