Lakeville Bankruptcy Lawyer for Personal & Business Debt Relief
If you’re overburdened by personal or business debts, Ron Lundquist, Attorney at Law, can help you file for bankruptcy and get a fresh start. As a Minnesota State licensed bankruptcy attorney and debt relief agency, our office has provided Lakeville, MN residents with highly experienced Chapter 13, Chapter 7, and business bankruptcy representation for more than 20 years.
We understand filing for bankruptcy is a last resort. Our compassionate team will help you understand all of your debt relief options and walk through the filing process every step of the way.
If you’d like to learn more about whether bankruptcy is right for your needs, feel free to contact our office today to schedule a complimentary consultation.
Chapter 7 Bankruptcy Lawyer in Lakeville, MN
If you lack the financial means to pay your creditors and your debt is getting out of control, filing for Chapter 7 bankruptcy may be in your best interest. But you must qualify for this type of personal bankruptcy, and to be eligible, you must pass a means test, which analyzes your income, assets, and expenses.
When successful, Chapter 7 bankruptcy will relieve you of your obligation to pay off your dischargeable debts. These include bank loans, credit card debt, utility bills, medical bills, and several other types of debt.
Chapter 13 Bankruptcy Attorney in Lakeville, MN
If you earn enough money to pay down some or all of your dischargeable debts, filing for Chapter 13 bankruptcy may be the right option for your financial situation.
Chapter 13, also called reorganization or wage earner’s bankruptcy, will allow you to make payments toward your debt over a three- to five-year span. When your court-ordered payment plan concludes, you will no longer be obligated to pay back any remaining dischargeable debts.
Business Bankruptcy Lawyer in Lakeville, MN
If your business is struggling under the weight of serious debt, the type of bankruptcy you’ll want to file for depends on how your business is organized. Chapter 11 bankruptcy is designed to provide debt relief for large organizations, while Chapter 7 or Chapter 13 bankruptcy may more appropriate for small businesses, including sole proprietorships.
If you own a small business, some of your personal finances may be intertwined with your business finances. If that’s your situation, your personal finances may be at risk if you file for business bankruptcy.
Working with an experienced Lakeville bankruptcy attorney is in your best interest in this case, as only a lawyer can help you fully understand your financial risk and mitigate any potential losses.
Request a Free Personal or Business Bankruptcy Consultation
If you believe filing for bankruptcy may be the right decision for your financial situation, working with an experienced bankruptcy lawyer is in your best interest. At the Law Office of Ron Lundquist, our goal is to help you achieve a fresh start, so you can take back control of your finances.
To learn more about your bankruptcy options, please call our office today at 651-454-0007 or request a free bankruptcy consultation, and we’ll be in touch with you promptly.