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Phone: (952) 388-2942

I have a lot of debt and a low income. Should I consider filing a Chapter 7 bankruptcy action in Minnesota or hiring a debt settlement company?

If you don’t have a high income and qualify for a Chapter 7 bankruptcy in Minnesota, then there may be advantages to filing for Chapter 7 instead of hiring a debt settlement company to help you get out of debt.


Specifically, a Chapter 7 bankruptcy may be:


  • Safer. The Chapter 7 bankruptcy process is regulated by federal law. The debt settlement process is not regulated by law. Accordingly, you know what you are getting into when you file a Chapter 7 bankruptcy, and an experienced lawyer can help you avoid any surprises.
  • Less Expensive. Generally, filing for Chapter 7 is less expensive than going through a debt settlement. A debt settlement company may charge high fees.
  • Faster. Typically, a Chapter 7 proceeding can be completed in just a few months as opposed to a debt settlement, which can take much longer.


If you are interested in learning more about the Chapter 7 bankruptcy process then it is important to contact an experienced Minneapolis Chapter 7 bankruptcy lawyer as soon as possible for a FREE consultation about your rights. Your lawyer will explain the Chapter 7 process to you and make sure that you understand your legal rights.


You can reach an experienced Minneapolis bankruptcy attorney today by calling 952.388.2942 or 1.800.619.8991 or contacting us via this website. We also encourage you to learn more about the benefits of bankruptcy and the bankruptcy process in our FREE book: What You Need to Know About Filing Bankruptcy in Minnesota.

Barry Rosenzweig
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Barry Rosenzweig, has 25 years experience as an attorney helping clients solve their legal problems.