Drowning in debt? Talk to a Lakeville bankruptcy attorney — without the cold calls.

Lakeville is one of the fastest-growing cities in the Twin Cities metro, with new neighborhoods continuing to spread across southern Dakota County. Its economy combines a large industrial base, anchored by the roughly 1,800-acre Airlake Industrial Park with its manufacturing and distribution companies, with employers such as Post Consumer Brands, which has its headquarters in the city. Rapid growth also means many Lakeville households carry newer, larger mortgages, and families who bought at the top of their budget can find themselves stretched thin when interest rates, property taxes, or daily living costs rise faster than income, or when a job loss or medical bill hits.

Lakeville residents file bankruptcy cases in the U.S. Bankruptcy Court for the District of Minnesota. Because Lakeville is in Dakota County, cases are assigned to the court's St. Paul division at the Warren E. Burger Federal Building and U.S. Courthouse, 316 N. Robert Street in St. Paul. Most consumer filings are submitted electronically by an attorney. Minnesota filers can elect either Minnesota's state exemptions or the federal bankruptcy exemptions to protect assets such as home equity, vehicles, and retirement funds; the choice is made once per case, and for homeowners with significant equity the difference between the two lists can be substantial.

A bankruptcy attorney experienced with Dakota County cases will know the Chapter 7 and Chapter 13 trustees, the St. Paul division's procedures, and how local creditor meetings are run. For Lakeville families, an attorney can walk through whether Chapter 7 or a Chapter 13 repayment plan makes more sense, how the means test treats household income, and which exemption set better protects a home and other property, all before anything is filed.