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What is a Chapter 7 bankruptcy in Eden Prairie, Minnesota? It is the same thing it is all throughout the state of Minnesota. Bankruptcy law is based on federal bankruptcy statutes, not state law. So, what Chapter 7 bankruptcy is in Eden Prairie, Minnesota is the same thing it is all across Minnesota. Chapter 7 bankruptcy is like hitting a reset button on your financial life.
Chapter 7 bankruptcy is like hitting a reset button on your financial life. If you fall on hard times and you are struggling to get your life back, all you have to do is hit the financial reset button and you get your life back!
Chapter 7 bankruptcy is a 4 month process from start to finish where at the end of 4 months your credit card debt and other unsecured debt is wiped out, tax free! Say you have 50k in credit card debt- at the end of 4 months- poof- GONE!
The focus in a Chapter 7 bankruptcy is on your assets. The vast majority of Minnesotans lose no assets when they file Chapter 7 bankruptcy. Most are able to keep their homes, vehicles, clothing, furnishings, pensions, and everything else.
One regret everyone has after filing Chapter 7 bankruptcy- but it’s not what you think
I have high anxiety. Big deal. Well, it is a big deal when you face your fears- like filing bankruptcy. Do you know what the single biggest regret everyone has after filing bankruptcy? That they should not have waited so long to file Chapter 7 bankruptcy and get their lives back. You see, you think you will regret filing- but what we know- is that you will regret you waited so long to file.
CONCLUSION
When the time is right, or when you are ready, reach out to Minnesota’s highest google reviewed bankruptcy law firm at www.kainscott.com.
