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3101 West 41st Street
Suite 214
Sioux Falls, SD 57105
(605)335-1545
brian@btalaw.com
Suite 214
Sioux Falls, SD 57105
(605)335-1545
brian@btalaw.com
Consumer Bankruptcy*
The following information should not be interpreted as legal advice. Every case is different. For
information about your specific situation, please contact me to set up an appointment.
The two primary options for the average consumer are Chapter 7, also referred to as
Consumer Liquidation, and Chapter 13, or Consumer Reorganization. In a Chapter 7, the
debtor is allowed to declare a certain amount of their property as absolutely exempt, and,
if the debtor has property over and above their exemption amounts, this non-exempt
property is liquidated by the case trustee to pay some or all of the debtors unsecured
creditors. The specific exemptions allowed in South Dakota are set by South Dakota law.
In a Chapter 13, the debtor creates a 3 to 5 year payment plan (contingent upon court
approval) wherein they pay off at least a portion of their debts. At the end of the payment
plan, most, if not all of the remaining debt, is discharged. To determine your eligibility for
either type of bankruptcy, please call to set up an appointment.
Before anyone is allowed to file for bankruptcy (with certain very narrow exceptions) they
must attend an "approved" credit counseling session. For a list of approved agencies
click here. Those who would like to attend a counseling session "in person" should
contact, in Sioux Falls, Lutheran Social Services, Consumer Credit Counseling.
After filing, but before a debtor is allowed to get a discharge, said debtor must take an
approved financial management course. For a list of approved providers for the Financial
Management Course required after filing, but before the discharge, click here.
For more information about Bankruptcy, click here to watch some video from the
Bankruptcy Courts.
I need the following information for your initial consultation. Please
download and fill out the short questionaire and bring to the initial consultation. By filling
out these forms and meeting with me it must be understood that no attorney/client
relationship will be formed as a result thereof. After I have the chance to analyze your
financial situation I will then make the decision whether I can represent you in any
possible bankruptcy case. The information you provide will be for informational purposes
only until that time.
Non-Bankrutpcy Options
Besides the bankruptcy option, a number of other options exist to the average debtor.
Some of these include various versions of "work out" options wherein the debtor, or in
some cases an outside agency of some sort, tries to work out a deal with creditors to
allow such options as debt settlements and/or lowering payments or interest rates.
Although some of these outside agencies are legitimate, it is important to remember that
the recent financial crisis has lead to a number of less than credible groups as well. If
you choose to explore one of these options, I encourage you to do some research before
agreeing to send your hard earned money to an person or company who promises to help
you make such deals with your creditors. A good place to start is the website of the
Federal Trade Commission and the Better Business Bureau.
If you are having trouble making your mortgage payment, it is worthwhile to look at the
official "Making Homes Affordable" website set up by the government.
The following information should not be interpreted as legal advice. Every case is different. For
information about your specific situation, please contact me to set up an appointment.
The two primary options for the average consumer are Chapter 7, also referred to as
Consumer Liquidation, and Chapter 13, or Consumer Reorganization. In a Chapter 7, the
debtor is allowed to declare a certain amount of their property as absolutely exempt, and,
if the debtor has property over and above their exemption amounts, this non-exempt
property is liquidated by the case trustee to pay some or all of the debtors unsecured
creditors. The specific exemptions allowed in South Dakota are set by South Dakota law.
In a Chapter 13, the debtor creates a 3 to 5 year payment plan (contingent upon court
approval) wherein they pay off at least a portion of their debts. At the end of the payment
plan, most, if not all of the remaining debt, is discharged. To determine your eligibility for
either type of bankruptcy, please call to set up an appointment.
Before anyone is allowed to file for bankruptcy (with certain very narrow exceptions) they
must attend an "approved" credit counseling session. For a list of approved agencies
click here. Those who would like to attend a counseling session "in person" should
contact, in Sioux Falls, Lutheran Social Services, Consumer Credit Counseling.
After filing, but before a debtor is allowed to get a discharge, said debtor must take an
approved financial management course. For a list of approved providers for the Financial
Management Course required after filing, but before the discharge, click here.
For more information about Bankruptcy, click here to watch some video from the
Bankruptcy Courts.
I need the following information for your initial consultation. Please
download and fill out the short questionaire and bring to the initial consultation. By filling
out these forms and meeting with me it must be understood that no attorney/client
relationship will be formed as a result thereof. After I have the chance to analyze your
financial situation I will then make the decision whether I can represent you in any
possible bankruptcy case. The information you provide will be for informational purposes
only until that time.
Non-Bankrutpcy Options
Besides the bankruptcy option, a number of other options exist to the average debtor.
Some of these include various versions of "work out" options wherein the debtor, or in
some cases an outside agency of some sort, tries to work out a deal with creditors to
allow such options as debt settlements and/or lowering payments or interest rates.
Although some of these outside agencies are legitimate, it is important to remember that
the recent financial crisis has lead to a number of less than credible groups as well. If
you choose to explore one of these options, I encourage you to do some research before
agreeing to send your hard earned money to an person or company who promises to help
you make such deals with your creditors. A good place to start is the website of the
Federal Trade Commission and the Better Business Bureau.
If you are having trouble making your mortgage payment, it is worthwhile to look at the
official "Making Homes Affordable" website set up by the government.
*I am a Debt Relief Agency. I help people file for bankruptcy relief under the Bankruptcy
Code.
Code.
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