Most clients feel the most difficult part of the process is making the first phone call to contact an attorney. Once the time and day for a consultation is set up, their next concern is what should I do to get ready? If you follow these three steps, you should be well-prepared and can get the most out of your meeting with an attorney.
Minnesota law allows debtors to choose which level of exemptions work best for them, state or federal—there is no opportunity to mix and match exemptions. Fortunately, Minnesota’s bankruptcy exemptions are very generous and typically allow for clients to keep their property rather than liquidate it.
Chapter 7 bankruptcy is the most common form of debt relief for individuals, families, and businesses. Before petitioning the court for relief under Chapter 7 of the Bankruptcy Code, it is important to understand the benefits and consequences, and whether filing for Chapter 7 bankruptcy in the Twin Cities is right for you.