Legal Question in Bankruptcy in Minnesota

Re: should i file bankruptcy and i will i have trouble getting a job in law enfo

You ask several questions.

I have never heard of a bankruptcy hurting someone's effort to become a police officer. If I recall correctly, there are provisions in the bankruptcy code which prohibit discrimination by employers based on the filing of a bankruptcy.

If any debt is joint, such as the card with your significant other, the joint debtor is stuck with being soley obligated to pay. Lots of folks would just continue paying that one under such circumstances. There is no law agaist paying a bill after a bankruptcy even if it has been discharged.

There is a problem, however, if you pay that creditor more than $600 in the 90 days before you file the bankruptcy. They call that a preference, and the trustee can actually take the money away from the creditor. The theory is that all creditors are to take the loss equally. This is one of the issues you will have to talk about with your lawyer.

These days $20,000 is not necessarily a lot of debt. It depends on what your income is. If you income is quite low, a bankruptcy would still be a good idea. You need to see an attorney to evaluate your situation.

For chapter 7 the question I ask usually goes like this: based on your income and your anticipated income, is there any way you could pay at least a third of this over a period of three years? If the answer is yes, you qualify for a Chapter 13; if no, you are a candidate for Chapter 7.

One more comment. Most folks I meet with are overly optimistic about their ability to pay. Sometimes I have to bring them down to earth.

I would be glad to consult with you. 952-544-6356.

Re: should i file bankruptcy and i will i have trouble getting a job in law enfo

I really believe you should file. You should not have a problem that I'm aware of in getting a job in law enforcement because you had to file bankruptcy. I think in many cases the credit card company will probably NOT go after your fianc�. However, even in they do, if you eliminate all your other debts you would probably be able to make large payments on this debt and get it under control. Many people have been in your situation. I think you're right in deciding to file. It will take you up to 25 years to pay back the credit cards if you are only able to make the minimum payments. PLEASE READ MY FIRM PHILOSOPHY! EVERYONE DESERVES A CHANCE TO START OVER FRESH. Please feel free to call me to discuss your situation in more detail. ph. (763) 788-1000