Bankruptcy Attorney for Burnsville Residents and Businesses
Are you living with an overwhelming amount of personal or business debt? It may be time to consider filing for Chapter 7, Chapter 13, or business bankruptcy with the help of Ron Lunquist, Attorney at Law.
As one of the leading bankruptcy law firms in the Twin Cities metro, we’ve proudly helped thousands of Minnesotans reclaim control over their personal and business finances since 1999. If you need help figuring out your best debt relief options, we’re here for you, too.
Filing for bankruptcy can be a stressful and confusing endeavor, which is why it’s imperative that you have experienced and knowledgeable bankruptcy representation on your side. When you work with our team, we’ll help you understand your bankruptcy filing options, your financial risk, what you must do to ensure your case is successful, and how to repair your credit after filing.
To learn more about your bankruptcy options, please contact our office today to schedule a free consultation.
Chapter 7 Bankruptcy Attorney in Burnsville, MN
Chapter 7 bankruptcy is designed for individuals who do not have the means to pay back their unsecured debts. To qualify for this type of bankruptcy, you must pass a means test, which proves that you do not have adequate income or assets to pay for your normal living expenses in addition to paying back your debt.
If you need to file for Chapter 7, it’s important that you understand you will not lose everything you own. Many of your assets are exempt from creditors’ claims, and working with a knowledgeable bankruptcy attorney will ensure you’re able to protect as many of them as possible.
Chapter 13 Bankruptcy Attorney in Burnsville, MN
If you have adequate income to repay your unsecured debt, Chapter 13 bankruptcy may be the right option for your situation. Also known as a wage earner’s plan, this type of bankruptcy allows you to agree to a three- to five-year debt repayment tailored to your budget.
If you can’t afford to repay everything you owe within that time frame, the remainder of your dischargeable debt will be eliminated.
Chapter 11 Bankruptcy Attorney in Burnsville, MN
If your business debts are getting out of control and revenue is insufficient to pay them back, filing for business bankruptcy may be in your best interest. But not every business owner qualifies to file for Chapter 11 bankruptcy, also known as reorganization bankruptcy. Many small business owners will need to file for Chapter 7 or Chapter 13 business bankruptcy instead.
Depending on the structure of your business, filing may put your personal assets at risk. If you’re unsure whether filing for any type of business bankruptcy may pose a risk to your personal finances, it’s imperative that you work with a Burnsville, MN business bankruptcy attorney.
When you work with our team, we’ll help you understand your filing risk and what type of exemptions you qualify for. We’ll walk you through every step of the bankruptcy process to ensure you’re able to protect as many of your assets as possible while achieving prompt business debt relief.
Schedule a Consultation With a Burnsville, MN Bankruptcy Attorney
At the Law Offices of Ron Lunquist, we understand that if you’re considering bankruptcy, it’s your last resort. Our goal is to help you work toward a brighter financial future, so if you’d like to learn more about your bankruptcy options, we’re more than happy to help. Feel free to request a free bankruptcy consultation online or call our office today at 651-454-0007 to learn more about how we can help you.