Chapter 12 Bankruptcy Near Olmsted County, MN
Relieve Yourself of Overwhelming Debt With Chapter 12 Bankruptcy
Chapter 12 bankruptcy is very similar to the more common Chapter 13 option, however, it is reserved for family farmers and fishermen. It allows debtors to restructure their debt and avoid liquidation or foreclosure. Just like in a Chapter 13 case, this is done via a 3-5 year repayment plan in which all or most of the debtor’s disposable income goes toward a monthly payment that the bankruptcy trustee distributes to creditors. At the end of the 3 or 5-year plan, the remaining debt that was included in the plan is discharged. The bankruptcy process can be complicated and time-consuming, so you should partner with a lawyer who has experience in this area of law. Attorney Joyce can help you determine whether or not you are eligible for Chapter 12 bankruptcy and if it is the right option for you. We assist clients in Olmsted County, MN and the surrounding areas.
How Can a Bankruptcy Lawyer Assist You?
- Advise you on your options
- Help you collect the information needed to file and handle all involved paperwork
- Help you develop a repayment plan and present it to your creditors
- Represent you in all communications and negotiations with creditors and the bankruptcy court
Consult With a Chapter 12 Bankruptcy Attorney in Olmsted County, MN and the Surrounding Areas
If you are a family farmer or fisherman with a reliable annual income, Chapter 12 bankruptcy may be an effective solution to deal with your debt problems so that you don’t have to liquidate assets or face foreclosure. Contact us for a free 30-minute consultation today.