Helping Minnesotans Build Solid Financial Futures

Since the economy took a turn for the worst in 2008, more and more Minnesota residents have found themselves facing overwhelming debt. For some, debt resulted from job losses, while others suffered unexpected injuries. For many, debt simply resulted from credit card spending that spiraled out of control. At Carter Legal Services, P.A., we are here to help you escape your debt, regardless of its source, by guiding you through the bankruptcy process.

Understanding Consumer Bankruptcy

Under federal law, debt relief is available in the form of consumer bankruptcy. Our founder, Mark A. Carter, is an experienced bankruptcy lawyer who offers clients living in Minnetonka and throughout Minneapolis’ western suburbs help with both Chapter 7 and Chapter 13 bankruptcies. Here are brief explanations of both types:

• Chapter 7 bankruptcy: This type of bankruptcy is also called a “liquidation” bankruptcy. In a Chapter 7 bankruptcy, the bankruptcy trustee gathers the petitioner’s assets and sells them. He or she then uses the profits from the sale to pay off debts. The court then discharges remaining debts.
• Chapter 13 bankruptcy: This type of bankruptcy is often referred to as a “reorganizational” bankruptcy. In a Chapter 13 bankruptcy, the petitioner creates a three-to-five year repayment plan, which the court must approve. If approved, the petitioner pays the trustee monthly based on the plan, and the trustee distributes the payments to the petitioner’s creditors. Generally, the court discharges any debts remaining at the end of the repayment period.

Contrary to popular belief, you do not choose which type of bankruptcy to file. Instead, the means test, instituted by recent changes to the U.S. Bankruptcy Code, determines the type for which you are eligible. During a financial evaluation, our attorney can examine your financial details and make a preliminary determination about which type is available to you.

Answering Your Bankruptcy-Related Questions

We know those who face financial struggles generally have a multitude of bankruptcy-related questions, including:

• Am I eligible for bankruptcy?
• Can I save my house from foreclosure?
• What is a 341 meeting of creditors?
• Which debts are eligible for discharge?

Before you sit down with attorney Carter, you will fill out a questionnaire he will use to help answer the above questions and any others you might have.

Schedule Your Consultation Today

If you would like to learn whether bankruptcy is right for you or whether our credit repair service better fits your needs, look no further than Carter Legal Services, P.A. To schedule your financial evaluation, call 952-955-6886 or email our office.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.