Bolinske Law represents consumers filing a Chapter 7 or Chapter 13 bankruptcy petition in Minnesota. A Chapter 7 bankruptcy involves liquidating all of a debtors non-exempt assets and using that money to pay secured and unsecured creditors. A Chapter 7 bankruptcy allows an individual to receive a discharge of their pre-petition bankruptcy debt. An individual filing a Chapter 7 bankruptcy petition is allowed to keep exempt property up to a certain value including the family home, car, and household possessions. Filing a Chapter 7 bankruptcy petition stops all creditors from calling or contacting the consumer.
Chapter 13 of the Bankruptcy Code allows a debtor to repay debts incurred before filing bankruptcy with funds earned after bankruptcy. This chapter allows an individual to set up payment plans on his or her debts and then make payments of those debts for three to five years. A discharge is typically not granted until all payments under the Chapter 13 plan have been made. A discharge will be granted if a debtor makes all the scheduled payments on the Chapter 13 repayment plan. A Chapter 13 plan is sometimes referred to as the “wage earners” petition, since it requires a steady source of income to make the required payments to creditors. Filing a Chapter 13 bankruptcy petition stops all phone calls and legal action from creditors.
Bolinske Law is designated a debt relief agency by the BAPCPA. Bolinske Law assists consumers seeking relief under the US Bankruptcy Code.