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From the category archives: Ron Lundquist Bankruptcy Blog

Chapter 13 Bankruptcy

How Does Chapter 13 Bankruptcy Work?

There are different types of bankruptcy, and two in particular that I specialize in: Chapter 7 and Chapter 13. These two kinds are available so that filers are able to determine the best course of action suited to their financial circumstances. While I’ll be focusing here on Chapter 13 bankruptcy, you can read more about Chapter 7 here. To put it plainly, the biggest difference with Chapter 13 is that with this type of bankruptcy, you agree to pay back some debts, as opposed to discharging them all within the filing.

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Is Bankruptcy For Me?

If you are struggling to stay afloat financially, it can be hard to believe there might be any kind of relief. You might be living paycheck to paycheck, picking and choosing which bills to pay and which ones to let go past due. Then the late fees start piling up and it feels like you can’t make any headway! I’m here to tell you there is relief from this stress.

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Chapter 7 vs. Chapter 13 - What’s Right For You?

If you’ve found yourself here, you’re probably seriously considering bankruptcy. While it may seem like an intimidating process, it’s actually a helpful tool meant to put you in good financial standing.

 

You might also be asking yourself which type of bankruptcy is right for you and your financial situation. I have worked as a bankruptcy attorney for nearly two decades, and I specialize in both Chapter 7 and Chapter 13 filings. Both types can serve you well depending on what kinds of debt you have as well as your income level. Let’s have a look at these types of bankruptcy.

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Four Bankruptcy Myths

Although it is a tool to help alleviate heavy financial burdens, bankruptcy is often treated as a dirty word. It’s also quite misunderstood. There are many things people believe about bankruptcy that simply aren’t true. I’ll debunk a few of the myths surrounding the process and hopefully help put your mind at ease if you’re considering this path to financial freedom.

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Thinking about Bankruptcy? Don't worry, Help is Here

Are you facing financial troubles? Don’t worry. No really: don’t worry. I’ve been helping people climb out from under their financial situations for decades. I understand the difficulties a person faces when bills mount and income doesn’t. There are many, many different reasons that a person can arrive in a situation like that. I know this. But regardless of how you got here, I can help you with your next step.

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Types of Debt Cleared by Bankruptcy

If you’re beginning to consider bankruptcy, you may have a lot of questions such as whether all your debts can even be included. The law can be confusing when you’re unfamiliar with it, and bankruptcy is often misunderstood. When clients meet with me for the first time to discuss their debts and options, I help them navigate the decision process. A part of what determines if bankruptcy is the right decision as well as which type is assessing the debts carried. While most debts can be discharged, there are some exceptions.

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Mistakes To Avoid: How To Recognize When And Where You Are Exposed Financially

Recovering from bankruptcy means more than re-establishing credit. True recovery means that you need to change the way you think about credit and money.

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Five Common Questions about Bankruptcy in Minnesota Answered

It can be easy to approach bankruptcy with many misconceptions and a lot of uncertainty, but a little knowledge can help put you at ease. Here are five of the most common questions clients have when we begin discussing bankruptcy.

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Starting to Consider Bankruptcy

It happens to many people: the debt slowly builds until you can’t keep up with it anymore. According to the American Bankruptcy Institute, in January there were nearly 55,000 filings in the U.S. So filing for bankruptcy is not only common, but it can be the best solution to your financial situation. Whether you’re facing foreclosure, struggling with wage garnishment, or battling medical bills, bankruptcy could be the fresh start you need!

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How to Navigate Bankruptcy Without Being Intimidated

You’re here because you’re contemplating bankruptcy. Acknowledging that your finances are in jeopardy is a difficult thing to do. We all want to feel in control of our lives and secure in taking care of a family. But sometimes bankruptcy is necessary due to factors beyond our control. You can find stability again.

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