In the U.S., filing for bankruptcy is a process for individuals and businesses alike. Of the six different chapters in the bankruptcy code, the most commonly filed individual consumer cases are Chapter 7 and Chapter 13. Chapter 7 bankruptcy works to sell the filer’s non-exempt assets in exchange for the discharge of their debts. Chapter
At Behm Law Group, Ltd., we work with individuals filing for Chapter 7 liquidation and Chapter 13 reorganization bankruptcy. We also help local businesses file Chapter 7 cases and offer legal guidance and protection to family farmers and fishers working through Chapter 12 reorganization bankruptcy. In the past year, COVID-19 has hit everyone, but it
Bankruptcy is a process available to individuals and businesses alike. If you’re struggling to meet monthly payments on time and debts are piling up, you can choose to use bankruptcy for long-term debt relief. The majority of individual consumer and business bankruptcies are filed voluntarily. If the filer is ready to pay the required bankruptcy
If you are struggling to make debt payments on time or if trying to pay off debts has significantly damaged your quality of life, finding debt relief through bankruptcy might be the right choice. The most commonly filed type of bankruptcy is Chapter 7, which discharges debts in exchange for the liquidation of non-exempt assets.
When you file for bankruptcy, information about all your debts, income, and properties must be disclosed in your bankruptcy paperwork. Documentation about your financial history as far back as six months to two years must be reviewed for any bankruptcy chapter. Any material inaccuracies or omissions of debts, income, and properties can be considered fraudulent
The most common feelings of those who are in a difficult financial situation are a sense of being stranded, trapped, and alone. If you’re struggling to make debt payments on time, the truth is that you are not alone. Each year, thousands of U.S. citizens file for bankruptcy because of debts they will never be
The U.S. economy fluctuates in response to various political, social, financial, and environmental effects. After World War II, for example, the economy thrived largely due to the Allies’ victory over the Axis powers and because the continental United States was never invaded or occupied. Today, we’re seeing the effects of the 2020 coronavirus pandemic on
Anyone who has had trouble making payments on time for bills or debts knows the severe stress and anxiety this type of situation can cause. While the saying “money can’t buy happiness” may be true, those who have experienced financial difficulties know that having a reliable income will free up a lot of emotional, mental,
In the southern Minnesota, Behm Law Group, Ltd. is a law firm that devotes its practice exclusively to bankruptcy cases. Stephen J. Behm is also a certified consumer bankruptcy specialist certified by the American Board of Certification. We provide representation and guidance for Chapter 7, 13, and 12 cases. If you’re struggling with debt, bankruptcy
Bankruptcy has long been an option to individuals and businesses that cannot repay their debts. In the United States, bankruptcy is designed to be the fairest possible process to filers, creditors, and other parties involved. However, since 2005, the consumer bankruptcy process changed significantly with the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) and
