A Minnesota Bankruptcy is Worth the Wait

Posted by Wesley Scott on November 6, 2019 at 11:50 AM
Wesley Scott

Some things you just want to be over and with and never have to think about again! A trip to the doctor’s for a benefits of a full-service bankruptcy law firmcolonoscopy, a Disney vacation with your in-laws and a toddler who just discovered they are terrified of mice, and filing for bankruptcy. All of these, I think we can agree, are situations that are better left in the rearview mirror. Maybe we have to do them, but let’s get them done and over with fast! Rip the bandage off!

If you are in a situation where you find yourself in a position to file bankruptcy, you most likely want to know when is the whole thing going to be finished? The answer varies and it all depends on which chapter of bankruptcy you file –Chapter 7 or Chapter 13.

Chapter 13 bankruptcies tend to not be debtor’s first choice. This is because Chapter 13 is a repayment plan. Debtors pay monthly, affordable payments (no-interest) to a trustee for a period of 36-60 months or 3-5 years. Do you mean that I could be in bankruptcy for years?!

That is a possibility but it pays to look at the bigger picture of a 13. More often than not, the amount of debt discharged at the end of the plan is exponentially more than the total amount of debtors total trustee payments. Additionally, Chapter 13 can save a home from being foreclosed upon and catch a homeowner up on mortgage arrears. 

On the other hand, filing a Chapter 7 bankruptcy will take between 3 and 6 months from filing to discharge. Most of this time is waiting for your court hearing date. Obviously, one chapter is a little speedier than the other. But each has its drawbacks and perks, as well as its own unique set of qualifications. 

Regardless of which chapter of bankruptcy one ends up filing and how long the process takes, filing with Kain & Scott will ensure professional, top-notch service throughout the entirety of your bankruptcy! 


Not sure where to begin with your overwhelming debt problem? How about www.kainscott.com where you can request a consultation with MN’s NICEST bankruptcy law firm today!


Topics: How To File Bankruptcy, bankruptcy in minnesota