#1 – You’ve Got Someone in Your Corner
Working with a MN bankruptcy lawyer is like adding a coach to your corner of the ring. Your lawyer will teach and guide you through finishing each round of the bankruptcy process – filing your petition, completing required courses, creditors meeting and final court date – and be your legal voice when creditors and court officials come knocking.
#2 – You Don’t Have to Learn Bankruptcy Law & Understand Legal Jargon
Did you know that, in order to claim any homestead greater than $155,675 you must live in Minnesota for at least 40 months? Also, according to MN Statute 550.37 subd. 5, farm machines, implements, livestock, produce and crops up to $13,000 are exempt? These detailed rules and exemptions are what a MN bankruptcy attorney spends years in law school to master.
When filing bankruptcy in Minnesota, you may elect to use federal bankruptcy exemptions or Minnesota exemptions. A MN bankruptcy lawyer can assess your situation and help you determine which set of exemptions will suit you better. After choosing which exemptions to use, you need to be able to report them accurately in order for your case to be approved. In order to report on this information, you will need to complete Schedule C – Property Claimed as Exempt which requires the following information:
- Description of Property
- Specify the Law Providing Each Exemption
- Value of the Claimed Exemption
- Current Value of Property without Deducting Exemption
Exemptions are just the beginning. The bankruptcy process is packed with forms that require accurate completion, proceedings that require attendance and participation and courses that must be attended. If you miss any of these steps or inaccurately complete a phase, you are at risk of extending the timeline of your case or, worst case, having your discharge denied. This point leads us right into benefit number three.
#3 – Your Case Filing Process will Be Expedited
Working with a MN bankruptcy lawyer will greatly increase your chance of completing your filing correctly and having your debts discharged in the end. The knowledge and experience bankruptcy lawyers have allow them to guide you through accurately and efficiently filing your case. They can provide you with the forms you need to complete and help you gather all necessary information.
#4 – You No Longer Have to Deal with Harassing Creditors
As soon as your bankruptcy petition is complete, your MN bankruptcy lawyer will submit your case to the court. Completing this phase initiates the “automatic stay,” which requires your creditors to stop all current and future attempts to collect on your debts.
The second part of this benefit occurs with the addition of a court trustee. A bankruptcy court representative will be assigned to your case and will be the point of contact for your creditors. Your court trustee will notify your creditors of your petition to file bankruptcy and the start of the automatic stay. Any future communication, such as inviting them to the creditors meeting and notifying them of your discharge, will be done by your court trustee. If your creditors need to contact anyone regarding your debts, it should be done through your court trustee or your MN bankruptcy attorney.
#5 – Your Stress Will Be Reduced
Having an experienced legal professional to educate and support you through this process should lift a huge weight off your shoulders, because you are no longer fighting alone. A MN bankruptcy lawyer will be there at every turn to answer your questions, guide your actions and most importantly, get your debts discharged.
Going the bankruptcy road alone will be overwhelming and add to your already stressful situation because you alone will be responsible for completing the entire process fully and accurately. Make your road to debt freedom easier by choosing to work with a reputable MN bankruptcy attorney. To get started, request a free, no-obligation consultation with an experienced professional with one goal in mind –getting your life back in your control with as little stress and frustration as possible.