Hoglund Law – Andover, MN
Bankruptcy Attorneys in Andover Minnesota
Hoglund Law is home to qualified bankruptcy attorneys with nearly 3 decades of experience in helping Andover residents eliminate debt, repair their credit and filings under US Bankruptcy Code. Whether you are looking for assistance in bankruptcy filings, credit counseling, or debt settlement, our lawyers are equipped to help you achieve a fresh financial start. We offer zero down bankruptcy as well as low monthly payments. Start your journey to a debt free future with a complimentary 30 to 45-minute consultation with one of our skilled lawyers to discuss your options.
Should I file for Chapter 7 Bankruptcy?
If you’re looking to discharge most or all of your debt, Chapter 7 Bankruptcy may be right for you. Our bankruptcy attorneys can evaluate your situation with a free consultation to help you figure out what type of bankruptcy filing will be the right path.
What are Dischargeable Debts?
Credit card debt, medical debt, car loans, personal loans, payday loans (also known as cash advance loans), and utility bills are typically dischargeable through Chapter 7 bankruptcy. Unfortunately, not all debt can be erased, specifically alimony, child support, recent tax debts, and student loans are usually non-dischargeable.
What is an Automatic Stay?
Once you file for Chapter 7 bankruptcy a court ordered ‘automatic stay’ goes into effect, this stay temporarily stops collection agencies, by law, from collecting on your debts and contacting you.
What can I keep in Chapter 7 bankruptcy, and What is an Exemption Limit?
In a vast majority of Chapter 7 bankruptcy cases, debtors are able to keep all of their property, also known as assets. Assets are considered to be cash, clothes, furniture, cars, etc. You can keep assets up to a certain valued amount, referred to as the exemption limit. Chapter 7 can also be called liquidation bankruptcy, but it is very rare that assets are liquidated in a Chapter 7 consumer bankruptcy filing.
How much does it cost to file for Chapter 7 bankruptcy?
To file for Chapter 7 Bankruptcy there is a filing fee of $338, required to pay to the U.S. Bankruptcy Court. Case complexities will determine attorney fees.
Should I file for Chapter 13 bankruptcy?
Chapter 13, also called a wage earners plan, is the best option for Andover residents who have a regular income and want to safeguard their assets. Through Chapter 13, you will reorganize and repay some or all or your debt monthly through a 3–5-year payment plan. The total amount of debt paid to creditors may be significantly lowered. At the end the payment plan, any remaining debt will often times be discharged.
What can and can’t be discharged in Chapter 13 bankruptcy?
A Chapter 13 bankruptcy plan can alter your car loan by lowering the interest rate on your car as well as lower the overall loan balance. It also allows you to catch up on your mortgage or homeowners association fees. Unlike in Chapter 7, you are usually able to keep your property as well as protect your co-signer in Chapter 13 filings. Similar to Chapter 7, not all debts are dischargeable, these debts are usually priority debts, but in Chapter 13 priority debts can be paid off through your repayment plan. Priority debts can be child support, spousal support, or recent income tax debt.
What are other advantages to Chapter 13 bankruptcy?
There is a filing fee of $313 to file for Chapter 13 bankruptcy, the Chapter 13 trustee will also charge a fee. Attorney fees depend on the complexity of the case.
How much does filing for Chapter 13 Bankruptcy cost?
The U.S. Bankruptcy Court requires $313 to file for Chapter 13 Bankruptcy, in addition to attorney fees which are normally included in the debt consolidation plan.
What is a Bankruptcy Mill?
Bankruptcy Mills are large firms who conducts a high volume of client turnaround with little to no attention to detail. Since they lack experience and professionalism, they may mishandle client’s efforts to correct their debt issues.
How do I avoid retaining a bankruptcy mill?
Ask yourself these three questions before retaining a bankruptcy law firm:
- Was your consultation with an actual attorney?
- Was payment discussed before your financial situation?
- Have you heard good things about this firm?
Are there other options besides bankruptcy?
If filing for bankruptcy does not sound like the best option for you, do not worry as there is also debt settlement or debt consolidation.
How does debt settlement work?
Through Andover debt settlement, your debts will not be discharged but debt balances may be lowered. This is possible by negotiating with your creditors. They would prefer to receive some payment from you through settlement rather than having you file for bankruptcy which could potentially leave them with nothing.
How does debt consolidation work?
Another viable option for Andover residents seeking help with debt is debt consolidation. This consolidation rolls multiple debts into one single payment. Typically, this option lowers interest rates than what you have currently. Debt consolidation is beneficial because you would only have one monthly payment to worry about. Having debt can feel like a huge burden but that is why we are here. By working with a skilled bankruptcy lawyer this weight can be lifted off your shoulders. Andover residents, call Hoglund Law today to begin your fresh financial future. Call us today at (763) 392-4111 or get a free consultation by filling out the form.
