Chapter 7 Bankruptcy

Your Top Rated Local® Edina Bankruptcy Law Firm

Understanding Liquidation Bankruptcy

Chapter 7 bankruptcy, also called liquidation bankruptcy, is a type of consumer bankruptcy that is designed to help those who are in financial hardship. Chapter 7 bankruptcy is the quickest of all the types of bankruptcy. However, you must meet certain income and asset requirements to qualify. An experienced bankruptcy attorney, like those from MLG Legal can help determine if you are eligible for a Chapter 7 bankruptcy, or if Chapter 13 bankruptcy or another type of debt relief option might be a better path for you. If you are considering filing for Chapter 7 bankruptcy, contact our team of Edina lawyers today and schedule a consultation to learn more.

Why You May Want to Choose a Chapter 7 Bankruptcy:

  • Your debt can be discharged in as little as 90 days.
  • A Chapter 7 bankruptcy may allow you to keep your home and car.
  • Most unsecured debt will be discharged including utility bills, medical bills, and credit cards.
  • Filing for Chapter 7 bankruptcy will stop collection activity including garnishments, levies, foreclosures, and repossessions.
  • The experienced team of bankruptcy lawyers from MLG Legal can help you determine if a Chapter 7 bankruptcy is the right choice for you.

Chapter 7 Bankruptcy May Erase the Following Types of Debt:

Credit Card Debt
Car Loans
Medical Bills & Utility Bills
Personal Loans & Payday Loans

How to Know if Chapter 7 Bankruptcy Is Right for You

Filing for bankruptcy is a decision that should be made only after you have consulted with a professional bankruptcy attorney. For some people there are other debt relief solutions available. However, depending on your financial situation, bankruptcy may be the right decision for you. While there are certain income and asset requirements that you must meet in order to file for Chapter 7 bankruptcy, it can be a fairly quick way to put this frustrating time behind you and start working toward a brighter financial future. If you feel like you are running out of options, it may be time to consider filing for Chapter 7 bankruptcy. Contact the team at MLG Legal today and schedule a consultation to discuss personal bankruptcy and debt relief solutions.

A Chance for a Fresh Start

While the idea of filing for bankruptcy can seem discomforting, it is a legal decision that can help put you on the right track financially moving forward. Many people have filed for bankruptcy and it is not a sign that you have given up. In fact, filing for bankruptcy is a way for you to take control of your situation and can help you get your life back on track so you can start building a healthy financial future. 

Ready to talk bankruptcy? Contact MLG Legal in Edina today.

Get Legal Assistance From Our Edina Bankruptcy Attorneys

If you are considering filing for Chapter 7 bankruptcy, it’s time to speak to an experienced bankruptcy attorney. At MLG Legal, we will discuss your situation and help you determine what your best path forward is. Whether you choose Chapter 7 bankruptcy, Chapter 13 bankruptcy, or another debt relief solution, we want to help you build a brighter future. Contact our Edina law team today to schedule a consultation.