Eckberg Lammers Personal Bankruptcy Law Services
Bankruptcy is not for everyone, but it exists to allow people who simply cannot afford to pay their debts — in part or in whole — to eliminate or restructure their debts, making their financial lives manageable again.
Since 1949, the law firm of Eckberg, Lammers, Briggs, Wolff & Vierling P.L.L.P. has been providing legal solutions to clients in the greater Twin Cities, the St. Croix Valley and Western Wisconsin, including in Washington County and communities such as Woodbury, White Bear Lake and Forest Lake. One of our most important services is to help individuals through the process of Chapter 7 or Chapter 13 bankruptcy. Contact us today by email or call (651) 967-7344 to discuss whether bankruptcy is right for you.
Bankruptcy Overview
Bankruptcy can give debtors a fresh start, either by setting up a workable payment plan or by eliminating most types of debt. During an initial consultation, our experienced bankruptcy lawyers will carefully outline the costs and benefits of bankruptcy and help you evaluate all of your options.
While most debts are eligible for bankruptcy, there are some types of debt that are typically not dischargeable:
- Child support and alimony
- Most income tax debt
- Student loans
- Debts relating to criminal or fraudulent conduct
Loans that involve collateral, such as home mortgages and car loans, are called "secured debts." Although secured debts can be discharged in bankruptcy, secured creditors can reclaim their property. You must continue to pay these loans unless you wish to allow the collateral property to be foreclosed or repossessed. However, a Chapter 13 bankruptcy repayment plan can give you some time to catch up on payments.
Types of Bankruptcy
For most consumers, bankruptcy is sought either under Chapter 7 or Chapter 13 of the bankruptcy code.
Chapter 7 — Most debts are eliminated in a Chapter 7 bankruptcy. There are some types of debt that cannot be discharged through Chapter 7 bankruptcy, and your attorney can discuss those with you.
Chapter 13 — This is not a liquidation bankruptcy. Chapter 13 involves a court-ordered repayment plan that can last from three to five years, depending on how much money you make. Typically, you will end up paying a portion of your overall debt, but not all of it. The concept is to find a manageable payment and debt amount. It can be helpful in allowing time to catch up on mortgage or vehicle payments, as well as other debt payments.
Contact Us for Experienced Help
Contact our firm by email or call (651) 967-7344 for a consultation about bankruptcy. Our fees for consumer bankruptcy are flexible, reasonable, and we can make payment arrangements with you.
Consumers often have many questions and concerns when considering bankruptcy. To learn more, read through some of our most frequently asked questions.
