Yes, it will. I could just end the conversation there, but you are probably wanting a fuller explanation as to why!! Most people operate under the misperception that filing a St. Louis bankruptcy will ruin their credit rating forever. They believe that they will never be able to purchase a…
In a surprisingly shorter period of time than you may think. The filing of a Missouri bankruptcy allows for what is called a “fresh start / clean slate“. This means that once a discharge of your unsecured debts (like credit cards, medical bills, payday loans, etc.) occurs, you are in…
Because the Bankruptcy Code makes it clear that if you are an above-median household, and you are filing a Missouri or Illinois Chapter 13 bankruptcy, then you have to commit to a five (5) year plan. Other situations allow for varying lengths of time, but that is the general rule.…
No, that is not true at all. There is no debt total that you must reach in order to qualify for a Missouri or Illinois bankruptcy. All that is necessary is your decision, based on all the information that you have attained on the subject, to file the petition for…
Only certain kinds of debts are paid back in a St. Louis Chapter 13 bankruptcy. These would include mortgage arrearage (in other words, the amount of money you have fallen behind on your house payments), car loans, tax debt, back child support, and sometimes a portion of your unsecured debt…
Yes, it does. And depending on how quickly you get your Missouri or Illinois bankruptcy filed, you can actually prevent the creditor from taking any action at all (so as to avoid any money being garnished from your pay checks). The filing of a bankruptcy is accompanied by what is…
I hear this comment a lot from clients. The level of stress that a mountain of debt can produce can literally be overwhelming. Credit cards, medical bills, payday loans, old utility bills, cell phone carriers, overdrawn bank accounts, deficiencies from a repossession, past due loans, etc. All of these things…
My suggestion would be, yes, you should appear in court on the day of your hearing. Not doing so can have negative consequences (even if you end up filing a Missouri or Illinois bankruptcy later on). let me explain why. If you fall behind on your debts, one of the…
Yes, you can. But you will be limited to a Missouri or Illinois Chapter 13 bankruptcy. The federal bankruptcy code states that an individual may not file a St. Louis Chapter 7 bankruptcy more than once every eight (8) years. Once the eight year mark is passed (this is the…
If you make it clear to the debt collector that you dispute the debt that they say you owe, then they may not contact you anymore until the dispute is resolved. If in fact the collector does contact you about the debt after such a dispute is made (but before…