Bankruptcy
Ryan & Grinde, Ltd.
Rochester, Minnesota, Bankruptcy Attorneys
Even though bankruptcy laws have changed, many people overburdened by debt are still eligible to file for debt relief. At Ryan & Grinde, our bankruptcy lawyers evaluate your financial situation, explain your options, and help you take steps to re-establish your credit. As your bankruptcy attorneys, we also put an end to persistent calls and stern warning 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 filing or debt consolidation assistance today. Located in Rochester, we represent clients throughout Red Wing, Winona, Wabasha, Preston, Austin, Lake City, St. Charles, Stewartville, and Owatonna.
Filing for Bankruptcy
Ryan & Grinde represents clients in filing for the following kinds of bankruptcy:
Ryan & Grinde also handles Chapter 12 bankruptcy filings for farmers in need of debt relief. We have represented a number of farm families over the years and can help you do what is necessary to avoid losing your farm.
The income requirements for filing Chapter 7 changed in October 2005. Now, in order to file for Chapter 7, certain income requirements must first be met. However, even if you don’t qualify for Chapter 7, you may still be eligible to file under Chapter 13. If you are eligible to file for Chapter 7 bankruptcy, the court will essentially liquidate your property in order to pay creditors a percentage of what your owe them. If you’re eligible to file for Chapter 7, the court will order liquidations of your non-exempt property.
While Chapter 7 allows you to discharge unsecured debt, it does not apply to debt owed on certain kinds of taxes, student loans, and domestic property and support obligations. Your home, pension plans, 401ks, and other retirement funds may be exempt in settling your debt in Chapter 7 filings. Contact Minnesota bankruptcy attorneys Ryan & Grinde today.
In general, people who do not qualify for Chapter 7 may restructure their debt under Chapter 13. Debt will not be discharged in the same way as Chapter 7. Chapter 13 requires people to pay back a portion of what they owe creditors according to the requirements of 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 on a monthly basis will depend on your income and assets as determined by the court.
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—contact Minnesota bankruptcy attorneys Ryan & Grinde today.
Federal law mandates that we say: We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
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.
