Chapter 7 Bankruptcy Minneapolis, Minnesota
There are several different types of bankruptcy, but our firm only files Chapter 7s and Chapter 13s. A chapter 7 bankruptcy lasts 90 days, and the court will grant a discharge at the end. To file a chapter 7 case, you must qualify based on your income. The means test takes into account the median income of your state, your household size, and your income for the last six month to determine if your qualify for chapter 7. Your attorney will examine your total income for the last six months (excluding veteran’s and social security benefits). Each state has its own median income numbers based on household sizes. This is the hearing 341 Zoom will hold the hearing, which takes around 5 minutes. The trustee can gather information in order to verify your case. During the hearing, you will be asked a variety of questions that you will need to answer with a yes or no. While the attorney will not be able to answer your questions, they can assist you if they are able. In a chapter 7, you may have assets that are not exempt. You have assets for which there are no legal exceptions. You can either buy the property from the estate, or it could be liquidated. Your attorney will inform you if you do not have any exempt assets.
CALL NOW FOR A FREE STRATEGY SESSION FROM AN MN BANKRUPTCY LAWYER AT LIFEBACK LAW FIRM
If you have questions about bankruptcy and would like to do a free consultation to go over your options, visit
www.lifebacklaw.com
to speak with an attorney. You will be glad that you did!
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