Filing for Chapter 7 Bankruptcy in Duluth

Facing the prospect of growing debt can be extremely stressful. It can feel impossible to provide for yourself and your family while struggling under the weight of mounting bills and pressure from creditors. Fortunately, there is a solution. Filing for bankruptcy in Duluth, MN can eliminate your debts and give you a clean slate. With the help of a local bankruptcy attorney, you could be debt-free in a matter of months. The knowledgeable lawyers of Solvent PLLC in Duluth have decades of experience in bankruptcy law. We know every financial situation is unique, and we work with you to find the best solution for your individual case.

What is Chapter 7 Bankruptcy?

Chapter 7 bankruptcy is commonly referred to as liquidation. Filing in this chapter is generally beneficial if you have few assets or unreliable income. Filing in Chapter 7 will first enact an automatic stay, and then wipe out your debts, with the exception of student loans, alimony, and child support. With your debts cleared, you will have a clean slate to start rebuilding your credit. One of the many benefits of filing for bankruptcy in Chapter 7 is that the process is usually quick. Most cases are completed with debts discharged within 3 months. Your Solvent PLLC attorney can walk you through every step of your bankruptcy.

When your debt has been wiped out, your credit score will take a hit. It is possible to start rebuilding credit right away with the help of your bankruptcy attorney. At Solvent PLLC, our aim is to help you get back on your feet, including rebuilding your life after bankruptcy. Helping you get your finances back on track is our top priority.

What is Automatic Stay?

An automatic stay is enacted immediately upon filing for bankruptcy in Chapter 7 that legally halts all creditors and actions against you. This means that the moment your bankruptcy petition is filed, any garnishments, foreclosures, lawsuits, or other collection activity against you will be stopped. You and your lawyer will have time to organize your case without the added stress of legal actions from debt collectors.

Contact Solvent PLLC in Duluth to File Chapter 7 Bankruptcy

If you are struggling under the weight of mounting debt and are unable to keep up with monthly payments, Chapter 7 bankruptcy might be the solution for you. The knowledgeable bankruptcy lawyers at Solvent PLLC in Duluth can help you get your life back on track. Clear your debts and start fresh. Call a Solvent lawyer in Duluth today.