Chapter 7, Chapter 13 Bankruptcy Lawyer in Austin, MN
Are you considering filing bankruptcy? Lenway Law Office
in Austin, MN
can help you learn more about bankruptcy and to decide if filing for bankruptcy is in your best interest or not. There are several bankruptcy myths out there. One common myth is that your credit will be ruined for 10 years if you file for bankruptcy. A Chapter 7 bankruptcy will remain on your credit report for 10 years, but you can still acquire new credit.
Many people think that they will lose everything they own by filing for bankruptcy, but this is not true either. The majority of debtors are able to keep everything they own except for non-exempt assets. There is no minimum or maximum amount of debt required to file for bankruptcy under Chapter 7. However, you must qualify for the bankruptcy relief you are seeking in order to be able to file.
Many people think that they will lose everything they own by filing for bankruptcy, but this is not true either. The majority of debtors are able to keep everything they own except for non-exempt assets. There is no minimum or maximum amount of debt required to file for bankruptcy under Chapter 7. However, you must qualify for the bankruptcy relief you are seeking in order to be able to file.
Despite popular opinion, bankruptcy is not only for those unemployed. Chapter 7 can benefit both the employed and unemployed. Chapter 13 can also benefit those earning income, depending on the amount and other factors.
Despite popular opinion, bankruptcy is not only for those unemployed. Chapter 7 can benefit both the employed and unemployed. Chapter 13 can also benefit those earning income, depending on the amount and other factors.
Many believe married couples are required to file bankruptcy together, but this is untrue. There are various reasons, such as debt and asset ownership that may make it worthwhile for only one spouse to file. This could possibly allow the non-filing spouse to preserve both his credit and assets.
Many believe married couples are required to file bankruptcy together, but this is untrue. There are various reasons, such as debt and asset ownership that may make it worthwhile for only one spouse to file. This could possibly allow the non-filing spouse to preserve both his credit and assets.
Allow Lenway Law Office to determine if filing Chapter 7 or Chapter 13 is beneficial to you. We will review your individual financial situation to determine your best course of action.
If you live in Southern Minnesota and want to know more about your legal options, call
Lenway Law Office today.
507-437-0967
