Can I Keep My House If I File a Chapter 7 Bankruptcy?
Student loans and credit cards have fueled a spike in filing personal bankruptcy in Minnesota last year, with a 54 % increase from the previous year. For personal bankruptcy, most people file a Chapter 7 or Chapter 13. This article will focus on Chapter 7 and the exemptions Minnesota offers in terms of protecting your house. You can qualify for a Chapter 7 bankruptcy by passing the “means test.” The means test is a two-prong analysis of your household income. If you fall below it, you can file a Chapter 7 bankruptcy, meaning almost all of your debt would be wiped away with a... Read More