Legal Question in Bankruptcy in Minnesota

If under chapter 13, would the discharge come after 5 years of payments? Secondly, after a forclosure of a home, will filling for chapter 13 get rid of the difference of amount that is owed?


Asked on 3/21/11, 9:38 am

1 Answer from Attorneys
David Kelly-952-544-6356 Kelly Law Office

Yes and yes. The payment period could be three years if your income is below median; but then you would probably qualify for a Chapter 7.

Usually in Minnesota you only have to worry about a second or third mortgage after foreclosure. Typically the first mortgage accepts the house in full satisfaction of the debt and bothers you no more; but you can expect the second mortgage to be after you.

This is for general information purposes only, is not legal advice, and does not create an attorney-client relationship.

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Answered on 3/21/11, 11:24 am


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