Call Me Today 651-454-0007

Minnesota Bankruptcy Attorney for Single Mothers

Ron Lundquist

Best Twin Cities Bankruptcy Attorney for Single Parents

Repaying substantial debt can be remarkably difficult as a single parent. If you’re living with more debt than you can reasonably afford to pay back, the Law Office of Ron Lundquist can help you achieve the debt relief you need.

For more than 20 years, our office has proudly assisted single parents with their bankruptcy filing needs. We specialize in Chapter 7, Chapter 13, and business bankruptcy cases and offer a free consultation to help you determine whether filing for bankruptcy is in your best interest.

Ready to learn more about your Minnesota debt relief options? Feel free to contact our Eagan office today to schedule a consultation.

Twin Cities Chapter 7 Bankruptcy Lawyer for Single Mothers

Chapter 7 bankruptcy, also known as liquidation bankruptcy, is designed to eliminate all of your dischargeable debts so you can get a fresh start financially. However, this type of bankruptcy does have a few filing stipulations because it’s intended to help individuals who do not have sufficient income to repay their debts.

To be eligible to file for Chapter 7, you must pass a means test, which compares your income to the median income in the State of Minnesota.

If your income is lower than the state median, you’ll qualify to file and if your case is successful, you will no longer be liable for repaying any of your dischargeable debts.

Most individuals who must file for Chapter 7 will qualify for various exemptions that allow them to retain their personal property after filing for bankruptcy.

Chapter 13 Bankruptcy Attorney for Single Mothers in the Twin Cities

Also known as wage earner’s bankruptcy, Chapter 13 is designed to allow you to repay your dischargeable debts according to what you can afford.

If you do not qualify to file for Chapter 7 bankruptcy because your income is too high, filing for Chapter 13 is likely in your best interest.

When you file for this type of bankruptcy, you’ll be issued a three- to five-year debt repayment plan, which will require you to make monthly payments according to your ability to repay. If you cannot reasonably afford to pay back all of what you owe, that’s fine. When your repayment plan reaches its term, the remainder of your dischargeable debts will be eliminated.

Business Bankruptcy Attorney in the Twin Cities

Business bankruptcy isn’t just for large corporations. While Chapter 11 bankruptcy is designed for sizable organizations, smaller businesses often file for Chapter 7 or Chapter 13 bankruptcy when they cannot afford to repay their debts.

If you own a small business that’s struggling financially and are considering filing for bankruptcy, it’s imperative that you understand whether your personal finances may be at risk. And if they are, you should know to what degree.

Out of necessity, many small business owners intermingle their personal finances with their business finances or use personal property as business collateral without fully understanding the financial risk involved. If that’s your situation, retaining a business bankruptcy attorney is crucial for protecting as many of your personal assets as possible.

Contact the Law Office of Ron Lundquist for a Free Bankruptcy Consultation

Are you a single parent who’s struggling financially? If you believe filing for personal or business bankruptcy may be in your best interest, please don’t hesitate to reach out to the Law Office of Ron Lundquist for legal assistance.

To learn more about your debt relief options and whether bankruptcy is right for you, give us a call today at 651-454-0007 or request a free consultation online, and we’ll reach out with additional information.

Call Us Today 651-454-0007