Bankruptcy Attorneys Representing Fairmont, MN
Facing financial struggles can be overwhelming, but filing for bankruptcy can be a crucial step toward regaining control. At Behm Law Group, Ltd., our experienced attorneys, Stephen and Isabelle Lewis-Behm, specialize in Chapter 7, Chapter 13, and Chapter 12 bankruptcy filings, guiding you through the process with expertise and care. We understand the challenges of financial hardship and are here to help you make informed decisions about your future.
With over 20 years of experience, we are dedicated to protecting your interests and ensuring you are not taken advantage of during the bankruptcy process. Our team will handle the paperwork, court hearings, and other complexities, allowing you to focus on rebuilding your financial future. We provide personalized attention to each case, ensuring you get the support you need every step of the way.
Proud to serve the Fairmont community, Stephen and Isabelle, longtime residents of southern Minnesota, are passionate about supporting local residents and helping them achieve financial freedom. Contact us today to schedule a consultation and take the first step toward a fresh start.
Common Reasons Fairmont Residents File Bankruptcy
Medical Debt
Unexpected medical emergencies and ongoing healthcare costs can quickly overwhelm even financially stable families. Medical bills are one of the leading causes of bankruptcy filings in Minnesota and can be discharged in both Chapter 7 and Chapter 13 bankruptcy.
Job Loss or Income Reduction
Losing employment or experiencing a significant reduction in income can make it impossible to keep up with existing debt obligations. Bankruptcy provides a fresh start when circumstances beyond your control have affected your ability to pay.
Divorce
Divorce often leads to financial strain as households split assets while maintaining similar debt levels. The division of property, legal fees, and transition to single-income living can make bankruptcy necessary for a fresh financial start.
Foreclosure Prevention
If you’re facing foreclosure on your Fairmont home, Chapter 13 bankruptcy can stop the foreclosure process and allow you to catch up on missed mortgage payments over time while keeping your home.
Credit Card Debt
High-interest credit card debt can spiral out of control, especially when minimum payments barely cover interest charges. Bankruptcy can eliminate these unsecured debts and provide relief from overwhelming balances.
Business Debt
Small business owners in Fairmont who have personally guaranteed business debts may find themselves personally liable when a business struggles. Bankruptcy can provide relief from both business and personal obligations.
The Bankruptcy Process: What to Expect
1
Initial Consultation
During your free consultation with Behm Law Group, we’ll review your financial situation, discuss your goals, and help determine which bankruptcy chapter is right for you. We’ll answer your questions and provide honest guidance on your options.
2
Credit Counseling Requirement
Before filing for bankruptcy, you must complete a credit counseling course from an approved provider. This can typically be done online in just a few hours. We’ll provide information on where to take this course.
3
Preparing Your Bankruptcy Petition
We’ll assist you in gathering all required financial documentation, including income records, tax returns, property valuations, and debt information. Our team ensures all paperwork is filed properly with the U.S. Bankruptcy Court.
4
Filing Your Case
Once your petition is prepared, we file it electronically with the bankruptcy court. This triggers an automatic stay, halting most collections, lawsuits, repossessions, and wage garnishments immediately.
5
The 341 Meeting of Creditors
About 4-6 weeks after filing, you’ll attend the 341 Meeting of Creditors, where the bankruptcy trustee will ask questions about your financial situation. We’ll prepare you fully and attend the meeting with you.
6
Debtor Education Course
Before receiving your discharge, you must complete a debtor education course, similar to credit counseling. This can be done online through an approved provider and helps you understand how to avoid future debt problems.
7
Receiving Your Discharge
In Chapter 7, your discharge typically happens 60-90 days after the 341 meeting. In Chapter 13, it occurs after completing your 3-5 year repayment plan, eliminating your legal obligation to pay discharged debts.
8
Life After Bankruptcy
After your discharge, it’s crucial to focus on rebuilding your financial health. This includes budgeting, monitoring credit, and using credit responsibly. We can guide you on how to maintain long-term financial stability and avoid future debt.
Why Choose Behm Law Group for Your Fairmont, MN Bankruptcy?
Exclusively Focused on Bankruptcy Law
Unlike general practice attorneys, we focus exclusively on bankruptcy law. This specialization means we have deep expertise in all aspects of Chapter 7, Chapter 13, and Chapter 12 bankruptcy cases.
Local Knowledge and Relationships
As longtime southern Minnesota residents, we have extensive experience working with local bankruptcy trustees, creditors, and the U.S. Bankruptcy Court. This local knowledge benefits our clients throughout the bankruptcy process.
Personalized Attention
We treat every client as an individual with unique circumstances. You’ll work directly with experienced attorneys, not paralegals or support staff, throughout your case.
Transparent, Affordable Fees
We offer clear, upfront pricing with no hidden fees. We also provide flexible payment plans to make quality bankruptcy representation accessible to those who need it.
Comprehensive Service Area
While our office is conveniently located in downtown Mankato, we serve clients throughout southern Minnesota including Waseca, Austin, Albert Lea, Blue Earth, St. Peter, Madison, Marshall, Redwood Falls, Worthington, Luverne, Granite Falls, Ivanhoe, Windom, Jackson, Pipestone, and communities along the South Dakota border.
Life After Bankruptcy
After receiving your discharge, it’s important to focus on rebuilding your financial health. This includes creating a realistic budget, monitoring your credit reports, and gradually reestablishing credit through responsible use of credit cards or loans. Our team can provide guidance on strategies to improve your financial standing and avoid future debt problems. Bankruptcy offers a fresh start, but proactive planning ensures long-term stability.
Frequently Asked Questions About Bankruptcy in Fairmont, MN
Will I Lose Everything If I File Bankruptcy?
No. Minnesota has generous bankruptcy exemptions that protect most property. The vast majority of our clients keep their homes, vehicles, household goods, retirement accounts, and other essential property.
Can Bankruptcy Stop Wage Garnishment?
Yes. Filing bankruptcy immediately stops wage garnishments through the automatic stay. Any wages garnished within 90 days before filing may potentially be recovered.
Will My Employer Find Out About My Bankruptcy?
Your employer will only be notified if they’re a creditor or if wages are being garnished. Otherwise, bankruptcy filings are public record but not typically monitored by employers.
Will My Employer Find Out About My Bankruptcy?
Your employer will only be notified if they’re a creditor or if wages are being garnished. Otherwise, bankruptcy filings are public record but not typically monitored by employers.
Can I Keep My Car If I File Bankruptcy?
In most cases, yes. If you’re currently on your car loan and the vehicle’s equity is protected by exemptions, you can keep your car by continuing to make payments. In Chapter 13, you may even be able to reduce your car loan balance or interest rate.
How Long Does Bankruptcy Stay on My Credit Report?
Chapter 7 bankruptcy remains on your credit report for 10 years from the filing date. Chapter 13 bankruptcy remains for 7 years from the filing date.
Can I File Bankruptcy on Some Debts But Not Others?
You must list all debts when filing bankruptcy, but you can choose to voluntarily repay certain debts after receiving your discharge. You can also reaffirm secured debts like car loans or mortgages to keep the property.
What Debts Cannot Be Discharged in Bankruptcy?
Certain debts are non-dischargeable, including most student loans, recent income taxes, child support, alimony, debts incurred through fraud, criminal restitution, and debts not listed in your bankruptcy petition.
Contact Our Bankruptcy Attorneys in Fairmont, MN Today
As an added convenience for residents of the Fairmont, MN area, Behm Law Group, Ltd. has arranged for free bankruptcy consultations at the Martin County Courthouse. If you are considering chapter 7, chapter 13, or chapter 12 bankruptcy, we invite you to meet with us to learn more about your options and how to start the filing process. At Behm Law Group, Ltd., we understand that filing for bankruptcy can be intimidating, but you don’t have to go into the process alone. We will work hard to help you get the relief from overwhelming debt and abusive creditor collection practices you need quickly and efficiently. Contact us today to speak with an experienced, compassionate bankruptcy attorney.
