Ryan & Grinde, Ltd.
Rochester, Minnesota, Bankruptcy Attorneys
Bankruptcy laws changed in 2005. Many people overburdened by debt are still eligible to file for relief. At Ryan & Grinde, our bankruptcy lawyers evaluate your financial situation, explain your options, and help you take steps to reduce or eliminate debt. As your attorneys, we also put an end to persistent calls and letters from debt collectors demanding payment. Once hired by you, communications or inquiries from creditors should be channeled through our office.
Contact Minnesota bankruptcy attorneys at Ryan & Grinde for bankruptcy or debt counseling assistance today. Located in Rochester, we represent clients throughout the Red Wing, Winona, Wabasha, Preston, Austin, Lake City, St. Charles, Stewartville, and Owatonna areas.
Filing for Bankruptcy
Ryan & Grinde represents clients in the following types of bankruptcy filings:
Ryan & Grinde also handles Chapter 12 bankruptcy filings for farmers in need of debt relief. We have represented many farm families over the years and can help you do what is necessary to restructure your obligations and avoid losing your farm.
In October 2005, Congress amended the Bankruptcy Code. One significant and sometimes controversial change established a "Means Test" which is used to determine who may file for Chapter 7 protection from creditors. The "Means Test" may not be very straightforward in some cases, and disputed legal issues do exist.
In the event that means testing signals that you may not file a Chapter 7, you may still be able to obtain relief with a Chapter 13 filing.
If you are eligible to file Chapter 7 bankruptcy, the court will appoint a Trustee who will collect and liquidate your non-exempt property in order to pay creditors a percentage of what you owe them.
Thus, analysis of your property and determining whether or not it is exempt under state or federal law is an important part of your attorney's representation.
While Chapter 7 allows you to discharge secured and unsecured debt, certain kinds of taxes, student loans, and domestic property and support obligations are not able to be discharged. Your home, pension plans, 401ks, and other retirement funds may be exempt. Contact Minnesota bankruptcy attorneys Ryan & Grinde today.
Credit Counseling Agencies and Personal Financial Management Courses
As part of your bankruptcy filing you will need to complete a pre-filing credit briefing and a post-filing credit briefing. These credit briefings may be completed via phone, internet or in person. Click here for a list of approved credit counseling agencies that can assist with this process. Once you complete the pre-filing credit briefing you will be given a Certificate of Counseling. Once you complete the post-filing credit briefing you will be given a Certificate of Debtor Education.
In general, people who do not qualify for Chapter 7 may be able to restructure their debt under Chapter 13. Debt is not discharged in the same way as Chapter 7. Chapter 13 requires people to pay back a portion of what they owe creditors pursuant to a payment plan. So, while foreclosures on your home can be halted, you will be required to make regular, continuous payments on your debt for up to 3 to 5 years. The amount you will be expected to pay on a monthly basis will depend on your income and assets and the legal requirements for confirmation of your plan.
Taking the First Step—Contact Ryan & Grinde Today
Don’t spend another sleepless night trying to figure out how to make it through the month with crushing debt or how to save your home from foreclosure—contact Minnesota bankruptcy attorneys Ryan & Grinde today.
For more information on the Fair Debt Collection Practices Act (FDCPA) see the following link http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre18.shtm
Ryan & Grinde, located in Rochester, Minnesota, represents clients throughout Dodge County, Fillmore County, Goodhue County, Houston County, Mower County, Olmsted County, Wabasha County, and Winona County.