Minneapolis Chapter 7 Bankruptcy Lawyer

Carrying too much debt is like drowning in quicksand. You work as hard as you can to get out, but you only sink deeper. If debt is preventing you from moving forward in life, speak with a Minneapolis Chapter 7 bankruptcy lawyer.

Walker & Walker is a family business that has experience helping people free themselves from crushing debt. Our talented bankruptcy attorneys can manage your bankruptcy filing, help you re-establish your credit, and assist you in resolving issues with creditors who have used improper collection tactics or reported inaccurate information that affected your credit.

How Does Chapter 7 Bankruptcy Help?

Chapter 7 bankruptcy is sometimes called fresh start bankruptcy because it allows you to eliminate most or all of your debt so you can reclaim control over your finances.

A Chapter 7 filing can rid you of unsecured debt, such as utility bills, credit cards, and even medical bills. You may also be able to discharge older tax debts if you meet certain requirements. Our Minneapolis attorneys can review your tax history with you to determine whether Chapter 7 bankruptcy might eliminate any of your past-due tax debt.

One of the enormous benefits of filing bankruptcy is that all of your creditors must stop efforts to collect their debts upon receiving notification of your filing. You should no longer experience harassing letters, threatening phone calls, or other aggressive tactics. The resulting peace can give you space to reorganize your financial life and regain economic stability.

Take Full Advantage of Exemptions

To qualify for Chapter 7 bankruptcy in Minnesota, you must pass a means test. You generally qualify if your gross income over the past six months is below the state’s median income. Even if your income is at or above the median, you may still qualify after accounting for allowable expenses.

Both the state and federal governments exempt certain property from a bankruptcy proceeding. Minnesota Revised Statute § 550.37 lists the property exempt from sale when you file bankruptcy, and the federal exemptions appear in 11 United States Code § 522. You can choose to claim the exemptions under either state or federal law. 

Minnesota Revised Statute § 550.37 lists the property exempt from sale when you file bankruptcy, and federal exemptions are outlined in 11 United States Code § 522. You can choose to claim exemptions under either state or federal law. Our Chapter 7 bankruptcy attorneys in Minneapolis will carefully review your situation and recommend the option that allows you to keep the property most important to you, guiding you through every step of the process.

Regain Your Financial Health

Chapter 7 personal bankruptcy proceedings are usually complete within three months, though cases involving non-exempt assets may take longer. While the process may discharge many unsecured debts, certain obligations remain, and rebuilding your credit rating will take additional time after the case closes.

We help ensure your credit report accurately reflects your financial history so you can begin rebuilding with confidence. Many clients start seeing improvements quickly. A car loan may be available within one month, new credit cards within two to three months, and mortgage eligibility often returns within two years. With consistent progress, many people reach a 720 credit score in about two years. If you’ve experienced unfair collection practices, we can take action to protect your rights and pursue financial remedies on your behalf.

At Walker & Walker, we do not just file your bankruptcy papers. Our Minneapolis lawyers will help you regain financial stability after Chapter 7 bankruptcy so you can move forward and meet your life goals.

Contact Our Chapter 7 Bankruptcy Attorneys in Minneapolis Today 

When paying your debts is overwhelming and you feel unable to move forward, it is time to consider eliminating your debt and starting fresh. Declaring bankruptcy can give you a second chance at financial stability. Contact a Minneapolis Chapter 7 bankruptcy lawyer at Walker & Walker to discuss your options.