{"id":971,"date":"2018-09-18T09:04:33","date_gmt":"2018-09-18T14:04:33","guid":{"rendered":"http:\/\/www.mankatobankruptcy.com\/blog\/?p=971"},"modified":"2018-09-18T09:04:33","modified_gmt":"2018-09-18T14:04:33","slug":"creditor-vs-debtor","status":"publish","type":"post","link":"https:\/\/www.mankatobankruptcy.com\/blog\/creditor-vs-debtor\/","title":{"rendered":"Creditor vs. Debtor: Getting More Out of Your Case with a Bankruptcy Attorney in Mankato, MN"},"content":{"rendered":"

Bankruptcy is designed to help individuals and businesses recover from debt and continue to participate in the global and national economy. While bankruptcy offers what\u2019s essentially a government-sanctioned financial backup plan, it\u2019s not a bailout to simply rid yourself of debts with no concern for your lenders. When you file for bankruptcy, the process will work to create a balanced outcome for you and your creditors. If you\u2019re considering filing for bankruptcy, do it with the help of a Behm Law Group, Ltd. bankruptcy attorney in Mankato, MN to get the most out of your case.<\/p>\n

Bankruptcy is a fair system, balanced in regards to your creditors and yourself, and it allows you benefit greatly from the process with the right approach and with the help of a skilled bankruptcy attorney.<\/p>\n

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Chapter 7<\/strong><\/p>\n

\u00a0<\/strong>If you qualify for Chapter 7 bankruptcy by passing the Means Test<\/a>, the vast majority of your debts will be discharged, except for student loans, child support and alimony and certain tax debts.\u00a0 However, even student loans, child support and alimony and certain tax debts can be discharged in certain circumstances.\u00a0 If the total value of your assets exceeds the amount you can protect\/keep with your applicable bankruptcy exemptions, the excess, non-exempt value will be distributed among your creditors.<\/p>\n