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WebJan 12, 2024 · At this stage you could consider hiring a bankruptcy attorney to help ensure you’re doing everything right. There are good bankruptcy law firms in Minnesota. Step Three: Get the Right Paperwork for Filing Bankruptcy in Minnesota You’ll need a lot of paperwork showcasing your financial situation: All income sources for the past two years. WebSubd. 3. Individual petition. When a petition for bankruptcy is filed individually, and not jointly, for a husband or a wife, (a) one spouse shall not claim any exemption pursuant to … WebSep 24, 2024 · The homestead exemption is based on the value of the equity in the home. While the homestead exemption for the federal exemptions limits the homestead protection to $25,150 (doubled for joint filers). For a debtor with a large amount of equity in his home he would use Minnesota exemptions, which allows a debtor to exemption up to $450,000 in ... motorola wimax clear modem