File for Personal Bankruptcy in Chapter 7 in St. Paul, Minnesota
Chapter 7 is the most common form of bankruptcy. It can wipe out your debts quickly and give you a clean slate. Though your credit score will take a hit, you can begin to rebuild your credit immediately after clearing your debts. By choosing Solvent Law we provide access to a proven service, 7 Steps to a 720, to help you build back your credit score faster. Filing in Chapter 7 for personal bankruptcy is a great option if you qualify. The attorneys at Solvent PLLC in St. Paul can help you through the bankruptcy process to get you back on your feet and out from under the weight of debt.
Is Chapter 7 Right for You?
When a person files for personal bankruptcy, they will usually file either in Chapter 7 or in Chapter 13. Typically, Chapter 7 is for people who have overwhelming unsecured debts. A Chapter 7 is commonly referred to as a liquidation, wiping out your debts to give you a blank slate. Chapter 13, on the other hand, focuses on reorganizing debts into a manageable payment plan and is suitable for people who have consistent income and/or valuable assets they want to keep (e.g., keeping a home out of foreclosure).
In order to file for Chapter 7 personal bankruptcy, you must meet the following criteria:
- Pass the means test (this test evaluates your income, family size, and expenses to determine your eligibility for Chapter 7 bankruptcy)
- You cannot have recently received a bankruptcy discharge (within the past eight years for Chapter 7 or six years for Chapter 13)
Chapter 7 is one of the fastest ways to discharge debt – debts are usually discharged in three months.
How to File in Chapter 7
Consulting with an experienced bankruptcy attorney can make the filing process smooth and easy. After passing the means test, you will have to provide your attorney documents evidencing your finances and assets. You will have to take a credit counseling class. The petition prepared by your attorney will be filed with the bankruptcy court. The bankruptcy attorneys at Solvent PLLC can help walk you through every step of the process as well as advise on steps to take after your debts have been cleared. Our lawyers are dedicated to helping you get out of debt and stay out of debt.
Contact a Bankruptcy Lawyer in St. Paul, Minnesota
If you are overwhelmed by debt and looking for a way out, call a Solvent bankruptcy lawyer today to find out if Chapter 7 is right for you. The lawyers at Solvent PLLC in St. Paul have over 40 years of combined experience in bankruptcy to draw on and apply to your specific case. Don’t let the weight of bankruptcy drag you down. Call Solvent today and get out of debt for good.
