Minnesota bankruptcy petitioners have a choice that is not available in every state. If you qualify to file for Chapter 7 bankruptcy in Minnesota, you may choose between federal bankruptcy exemptions and state bankruptcy exemptions for use in your case. While you may not pick and choose from both lists, the decision about which set of exemptions to use is yours alone (not your creditors’!) and may be made with the advice of a Minneapolis bankruptcy attorney.
How a St. Paul Bankruptcy Lawyer May Help You
An experienced Minneapolis bankruptcy lawyer can help you decide whether you should choose the federal bankruptcy exemptions or the Minnesota bankruptcy exemptions based on the assets you own, your future plans and your own priorities.
The provisions of both sets of exemptions are very specific and significantly different. A St. Paul bankruptcy attorney will not only explain the exemptions to you, but will also encourage you to think about the property that is most important to you and how best to protect it.
Contact a Minneapolis Bankruptcy Attorney Today to Learn More
If you are considering bankruptcy in Minnesota, please contact an experienced St. Paul bankruptcy attorney for a free consultation about your rights by calling 952.388.2942 or 800.619.8991.
We also invite you to learn more about your rights and what you can expect when you file for bankruptcy in Minnesota by reading our FREE book: What You Need to Know About Filing Bankruptcy in Minnesota.
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