Call Me Today 651-454-0007

Minnesota Bankruptcy Attorney for Low Income Households

Ron Lundquist

The Twin Cities’ Most Trusted Low Income Bankruptcy Attorney

If you’re struggling under the weight of overwhelming debt, filing for Chapter 7 or Chapter 13 bankruptcy may be your best option for getting a fresh financial start.

At the Law Office of Ron Lundquist, we specialize in helping low-income Twin Cities residents file for personal and business bankruptcy in the State of Minnesota. Throughout the last 20+ years, we’ve assisted thousands of locals in their financial recovery journey, and we’re ready to help you, too.

We understand filing for bankruptcy is likely your last resort, and our entire team is dedicated to supporting and empowering each client we serve. If you’re curious whether filing for bankruptcy is in your best interest, please contact our office today to learn more about your debt relief options.

Chapter 7 Bankruptcy Attorney for Low-Income Individuals

If your household is financially disadvantaged and you find yourself struggling to repay your debts, you may qualify to file for Chapter 7 bankruptcy.

This type of bankruptcy is often referred to as liquidation bankruptcy; however, most people qualify for exemptions that allow them to retain the majority or all of their property/assets even as their debts are discharged.

To be eligible for Chapter 7, you must first pass a means test, which is designed to assess your income and weigh it against the median income in the State of Minnesota. If, over the last six months, your income was lower than the state’s median gross income, you’ll pass the means test and will qualify to file.

When you file for Chapter 7 and your case is successful, all of your dischargeable debts will be completely wiped out, giving you a fresh start financially. You’ll be required to complete a credit counseling course, and from there, you’ll have the opportunity to build your financial future anew.

Chapter 13 Bankruptcy Lawyer for Low Income Households

Chapter 13 bankruptcy is designed to allow you to pay back either a portion or all of your dischargeable debt according to what you can reasonably afford to pay.

This type of bankruptcy is designed for individuals who have sufficient income to continue paying on their debts but need assistance formulating an affordable schedule of payment.

If you do not qualify to file for Chapter 7 bankruptcy — most low income individuals will qualify, however — Chapter 13 is your next best option for getting a fresh financial start.

When you file, your bankruptcy trustee will work with you and your attorney to formulate a three- to five-year debt repayment plan. That plan will require monthly payments toward your debt, and when it reaches its term, you will no longer be responsible for repaying the remainder of your dischargeable debts.

Schedule a Free Consultation With a Twin Cities Bankruptcy Attorney

If you believe filing for bankruptcy may be in your best interest, please don’t hesitate to contact Ron Lundquist, Attorney at Law for assistance. Our office can help you determine which type of bankruptcy is best suited to your needs, and our knowledgeable legal experts will walk you through every step in the filing process.

To learn more about your debt-relief options, please call our Eagan, Minnesota, office today at 651-454-0007 or request a free consultation, and we’ll be in touch.

Call Us Today 651-454-0007