If the Trustee almost falls asleep during the hearing, I did it right. By the time I get to the courthouse, it is likely that I will have spent as many as 15 hours on a case, sometimes much more than that.
I will have had at least four face to face meetings — often many more than that — with my client, probably a couple hours each time. Recently I checked my calendar and found that I had met with one client 11 times before the case was ready to file.
A bankruptcy petition has somewhere in the range of questions, and tends to run between 50 and 65 pages in length.
These questions are answered under penalty of perjury. An incorrect answer can be a crime for my client. You also only need to look at your actual equity in any property. This means that you count your exemptions against the full value minus any money that you owe on mortgages or liens. While your exemptions allow you to keep property even in a chapter 7 case, your exemptions do not make any difference to the right of a mortgage holder or car loan creditor to take the property to cover the debt if you are behind on payments.
In a chapter 13 case, you can keep all of your property if your plan meets the requirements of the bankruptcy law. In most cases you will not lose your home or car during your bankruptcy case as long as your equity in the property is fully exempt. This means that you gave that creditor a mortgage on the home or put your other property up as collateral for the debt. Bankruptcy does not make these security interests go away.
There are several ways that you can keep collateral or mortgaged property after you file bankruptcy. You can agree to keep making your payments on the debt until it is paid in full. Or you can pay the creditor the amount that the property you want to keep is worth. In some cases involving fraud or other improper conduct by the creditor, you may be able to challenge the debt. If you put up your household goods as collateral for a loan other than a loan to purchase the goods , you can usually keep your property without making any more payments on that debt.
Many people believe they cannot own anything for a period of time after filing for bankruptcy. This is not true. You can keep your exempt property and anything you obtain after the bankruptcy is filed. However, if you receive an inheritance, a property settlement, or life insurance benefits within days after your bankruptcy, that money or property may have to be paid to your creditors if the property or money is not exempt.
You can also keep any property covered by Minnesota bankruptcy exemptions through the bankruptcy. Most of the time, this meeting will be a short and simple procedure where you are asked a few questions about your bankruptcy forms and your financial situation. Occasionally, if complications arise, or if you choose to dispute a debt, you may have to appear before a judge at a hearing. To find the location of the court that serves your area visit the Minnesota Federal Bankruptcy Court Directory page.
Again, we file the bankruptcy in St Paul first and get paid later. If you live in St Paul, Minnesota, this is an excellent way to get your life back first and make payments later. Y ou will be glad you did!
Topics: St Paul Bankruptcy. What is the Chapter 7 4 step process? Who can file a Chapter 7 Bankruptcy? What is the Chapter 13 5 step process?
Box , Cass Lake, MN Central Minnesota Legal Services, Inc. Box , Moorhead, MN Warren E. Paul, MN Gerald W. Attorney Andrea Wimmer. Andrea practiced exclusively as a bankruptcy attorney in consumer Chapter 7 and Chapter 13 cases for more than 10 years before joining Upsolve, first as a contributing writer and editor and ultimately joining the team as Managing Editor. While in private practice, Andrea handled Take our screener to see if Upsolve is right for you. Upsolve is a c 3 nonprofit that started in Our mission is to help low-income families who cannot afford lawyers file bankruptcy for free, using an online web app.
Spun out of Harvard Law School, our team includes lawyers, engineers, and judges. We have world-class funders that include the U. To learn more, read why we started Upsolve in , our reviews from past users, and our press coverage from places like the New York Times and Wall Street Journal. Free Articles. Bankruptcy Tool. Filing Guide. In a Nutshell If you are filing Chapter 7 in Minnesota, you may not have the extra funds to pay a lawyer or the court filing fee.
Collect Your Minnesota Bankruptcy Documents One of the most important steps of learning how to file bankruptcy in Minnesota is learning what documents you should collect when you first start the process.
Take Credit Counseling One of the requirements everyone filing bankruptcy in Minnesota has to complete before their case can even be filed with the court is a credit counseling course. Complete the Bankruptcy Forms Completing the bankruptcy forms needed for a Chapter 7 bankruptcy in Minnesota is the first step in this process that someone can help you with.
Print Your Bankruptcy Forms Once you are ready to head to the court to file your Minnesota bankruptcy case it's time to print and sign all of your bankruptcy forms. Go to Court to File Your Forms People filing bankruptcy in Minnesota without a lawyer "pro se" have to submit all the documents to the court in paper.
Take Bankruptcy Course 2 Before filing bankruptcy in Minnesota, you have to take a credit counseling class, or you are not eligible to be a debtor in bankruptcy. Attend Your Meeting Your meeting will take place approximately 20 - 40 days after filing Chapter 7 in Minnesota.
Dealing with Your Car A lot of people don't realize how many different options filing Chapter 7 in Minnesota gives them when it comes to dealing with their car.
No one has posted about this topic yet. Be the first to ask our Community and receive a professional response! Written By:. Attorney Andrea Wimmer Twitter LinkedIn Andrea practiced exclusively as a bankruptcy attorney in consumer Chapter 7 and Chapter 13 cases for more than 10 years before joining Upsolve, first as a contributing writer and editor and ultimately joining the team as Managing Editor.
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