Legal Question in Bankruptcy in Minnesota

Re: banckruptcy

Whether chapter 13 is feasible depends on how much you can afford to pay into the plan as well as how much your interest in the property would be if you hadn't quit claimed it away. It might not be a problem since it was six years ago, but I think a chapter 13 should be feasible if you can afford the payments. You might want to see if there's another chapter 13 attorney you can talk to.

Re: banckruptcy

There are two statutes that allow the bankruptcy trustee to recover assets transferred to a relative: one looks back two years, the other looks back six years. So I would want to take a close look at exactly when it was that you made that transfer. If it is comfortably past the six year mark, it might not be a problem.

I would also want to look into why you want to do a 13 and not a 7. Chapter 7 is better most of the time.

From your zip code it looks as if you live near Zimmerman. Lots of people from that area have found it worth their while to drive over to my office.

You can find my contact info at http://www.mn-bankruptcy.com.

This is for general information purposes only, is not legal advice, and does not create an attorney-client relationship. You should consult a lawyer of your choice in person concerning the details of your case.