Yes, it is possible to keep all of your rental properties when you file a St. Louis bankruptcy. But there are several things you need to know about this before you do anything. When you file a Missouri bankruptcy, you have duty to disclose to the court all of your…
The simple and easy answer is that you file a St. Louis Chapter 13 bankruptcy. This is the safest legal mechanism that you have at your disposal. So long as your case is filed before the foreclosure sale goes through, then you can save your home. The economy that we…
No, not necessarily. Although sometimes it can get held up because of a disagreement between you and the Trustee. When you file a St. Louis Chapter 13 bankruptcy, one of the key forms that need to be submitted to the court is a Chapter 13 plan. This plan describes in…
Yes, it is possible to keep a motorcycle (or boat, or some other non-traditional form of transportation). But there are a couple of different things you should keep in mind before your case is filed. The easiest way to help you understand how your motorcycle will be affected is if…
No, that is not necessary at all. Some people are completely current on all their debts right before they file a St. Louis bankruptcy. And sometimes, individuals are several years behind on their bills before filing a petition. The exact time you file a Missouri bankruptcy is dependent upon several…
No, not necessarily. The goal is to be in a situation in which you only have to pay back a certain portion of your unsecured debt (such as credit cards, medical bills, payday loans, etc). A St. Louis Chapter 13 bankruptcy is described as a repayment plan over the course…
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.…
Yes, you can. But there are certain details that you must first be sure of before you file so that you know for sure if those assets will be safe. This is why it is so very important to hire an experienced attorney who knows the ins and outs of…
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…
That is an excellent question. But the answer may surprise you. To begin with, the area of law that regulates what a debt collector can and cannot do when they attempt to collect on a debt is the Fair Debt Collection Practices Act (FDCPA). This is a federal statute that…