Minneapolis Attorneys Handling Chapters 7 And 13 Bankruptcy
We are all living in a troubling economy. Financial hardships have struck many individuals and businesses for many different reasons. Maybe you have gone through a divorce, recently lost a job, become ill or suffered a medical emergency. Perhaps your business has suffered a downturn or loss of markets or customers, or has had a major customer go out of business or default on a debt. No matter what your situation, it is important to know that you do have options for debt relief and solutions to your business problems. A lawyer at our firm can help you explore those options.
Richard W. Huffman and Bruce N. Crawford of our firm have extensive experience assisting individuals and business owners in Chapter 7 and Chapter 13 bankruptcy throughout the Minneapolis, Minnesota, and Twin Cities area. Mr. Crawford and Mr. Huffman each has more than 40 years’ experience working to help clients in financial trouble. They offer straightforward and honest solutions that cater to your specific debt relief needs. They also have the experience to offer practical advice on the problems your business may be facing.
Chapter 7 And Chapter 13 Bankruptcy
Chapter 7 is known as a “straight” bankruptcy or liquidation bankruptcy. In a Chapter 7, no repayments are made to creditors and your unsecured debts are discharged. Chapter 13 is a workout with your creditors in which a portion of your debt is paid back over a three- to five-year period (determined by the bankruptcy court).
Although the majority of our bankruptcy practice is devoted to consumer bankruptcy, we have an extensive background in assisting small businesses whose operations have been affected by these difficult economic times. In business and commercial law matters, we offer consultations regarding the effects of a business bankruptcy and Chapter 11 petitions on business owners.
Signs That Bankruptcy May Be Right For You
If you or your business is continually receiving harassing phone calls from creditors, experiencing wage garnishments or repossessions approaching foreclosure or facing a judgment, bankruptcy may be the right choice. In some situations, bankruptcy can be a solution for tax liabilities. If bankruptcy is not an option for you, we may be able to negotiate with creditors and find alternate resolutions.
Bankruptcy can give you the breathing room you need to get back on your feet and continue your day-to-day activities. Mr. Huffman and Mr. Crawford provide nonjudgmental and honest evaluations. They are here to advocate for you and will work aggressively to make certain you achieve the debt relief and financial peace of mind you deserve.