Bankruptcy Reform | Ron Lundquist Bankruptcy Lawyer - Eagan, MN
Like any law, bankruptcy law isn’t static. Don't worry, clients are not expected to maintain up-to-date knowledge. However, a good bankruptcy lawyer will. It’s my job to help you navigate the system smoothly and that means knowing the current state of bankruptcy, how best to file, and anything that could be a stumbling block.
In 2005, creditors claimed that bankruptcy fraud ran rampant. Creditors lobbied for reform based on the mistaken premise that all bankruptcy clients are trying to get away with something, rather than opting for bankruptcy as a last resort to unexpected or unavoidable bad circumstances.
I know the truth. I have met and represented hundreds of unique bankruptcy cases, and I don’t have a bad word to say about any of my clients. That’s why I am dedicated to helping anyone seeking bankruptcy assistance.
However, due to the amount of funding behind creditor lobbying, the law was changed in ways that favored creditors. And the language of the bankruptcy reform reflects the negative perspective toward bankruptcy clients.
But, in the end, the bankruptcy reform is good news! It isn’t any harder to file bankruptcy now than it was previously. In fact, the changes the creditors made to Minnesota and federal bankruptcy law in 2005 simply clarified when and why a client qualifies for bankruptcy. This bankruptcy reform makes my job easier and allows me to give you an answer faster about if you qualify.
I am recognized as a debt relief agency, and provide bankruptcy relief using the current laws of the State of Minnesota and the United States Bankruptcy Code. As all bankruptcy attorneys, I must provide every client with bankruptcy disclosures.
The bankruptcy disclosures essentially give you access to the same information we will discuss in your initial consultation. It explains credit counseling services, describes the four major types of bankruptcy you may consider, and informs you about bankruptcy crimes. By establishing these points in writing, it’s simply an acknowledgement that you understand the process. Don’t let the legal jargon intimidate you!
Among the bankruptcy disclosure forms, there is also an informational page which includes:
- How to value your assets.
- How to determine current monthly income.
- How to determine expenditures and disposable income.
- How to determine what property is exempt.
If any questions arise from the disclosures, I am just a phone call away.
The most common type of case I represent is Chapter 7 bankruptcy, but I also assist with Chapter 13 bankruptcy (which can stop a home foreclosure and better protect your assets). The process includes taking credit counseling courses, a court appearance, and paperwork - each of which I will help you through one step at a time.
I am recognized as a debt relief agency, and provide bankruptcy relief using the laws of the State or Minnesota and the United States Bankruptcy Code.
If you are going through a home foreclosure, dealing with wage garnishments, or looking for advice to build your credit, we can meet and discuss your options. To set up an appointment, call 651-454-0007.