Bankruptcy Attorneys in New Ulm, MN
If you want to file bankruptcy to reclaim your life from overwhelming debt and creditors but don’t know how to begin, Behm Law Group, Ltd. can help. We have been filing chapter 13, chapter 12, and chapter 7 bankruptcies in the New Ulm area for over 25 years. However, the bankruptcy attorneys at Behm Law Group, Ltd., have also had a personal connection to the New Ulm community as well as a professional one.
For instance, Stephen enjoys attending the Bavarian Blast in July, visiting Schell’s Brewery, and exploring the New Ulm Oktoberfest during the fall. While Stephen appreciates the town’s deeply German roots, Isabelle is involved in the scrapbooking community and has attended multiple clinics and seminars offered by New Ulm scrapbooking groups. These annual festivities and community events have allowed Stephen and Isabelle to get to know the residents of the New Ulm community and form a strong connection to the town.
Bolstered by this passion and knowledge of New Ulm, we at Behm Law Group, Ltd. participate in the local community by assisting in what we know best—Chapter 13, Chapter 12, and Chapter 7 bankruptcies. Not only do we go the extra mile to assist our clients through the filing process by meeting personally with them, but we also visit the Brown County Recorder’s Office to review whether all clients’ previous and present mortgages have been properly processed and recorded. This attention to detail has allowed us to remove judgment liens on mortgages, via the bankruptcy lien strip protocol under local bankruptcy rule 3012-1, from property owned by our clients. This is a tremendous aid toward their financial recovery.
Debt Relief and Financial Freedom
The bankruptcy process can be complicated and involves a number of steps that must be followed. The kind of bankruptcy filing you choose will depend on your individual circumstances. Chapter 7, chapter 12, and chapter 13 are all common types of filings. Hiring an experienced bankruptcy attorney can help determine what type of bankruptcy best fits your situation while also helping you avoid costly mistakes and missteps.
Chapter 7 bankruptcy filings account for a significant majority of personal filings. This type of filing discharges most, though not all, personal debts. Student loans, alimony, and tax debts are among the liabilities that may remain for petitioners. In some cases, some of your property may be subject to seizure and sale by a bankruptcy trustee in order to distribute the proceeds among your creditors. However, there are exemptions provided under the bankruptcy code itself or under Minnesota state law for various assets, such as retirement accounts, which are necessary for your effective financial reorganization. Your home and automobile and other items may also be protected. To qualify for Chapter 7, you must pass a means test indicating that your income is less than the median income in Minnesota for a household of similar size.
If you do not meet the means test, you may still file under Chapter 13 of the bankruptcy code. A successful chapter 13 bankruptcy creates a debt repayment plan, typically over a three- to five-year period, whereby your creditors are repaid a portion of the original debt. During this repayment period, creditors are not allowed to demand more than the monthly amount set forth in the plan, and no late fees or interest apply.
While bankruptcy proceedings can be challenging, they are often an avenue to a financial reset that can relieve the pain and pressure of overburdening debt.
Contact Our Bankruptcy Attorneys in New Ulm, MN Today
When filing for Chapter 7 or Chapter 13, don’t hesitate to contact Behm Law Group, Ltd. for help. This tough financial process can be overwhelming, but we’re dedicated to our clients like we are dedicated to the New Ulm area. Contact us today to learn more today.
Learn More about Bankruptcy Proceedings in the New Ulm, MN Area:
United States District Court – District of Minnesota
Brown County Courthouse
City of New Ulm, MN
