Articles Posted in St Louis Bankruptcy

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ONLY $675 ATTORNEY FEES FOR A ST LOUIS CHAPTER 7

It depends on which kind of creditor is calling you. Is it the original creditor (like the hospital, credit card company, or payday loan giver), or is it a collection agency? Because the two types of creditors are treated differently by the law.

If you are getting rude calls from the original creditor, then the best you can do is to simply hold them off (or try and work something out). However, their job is not to settle the debt owed; it is to get as much money out of you as possible. So the farther you fall behind on your payments, the nastier they will get with their calls (and the number of calls will increase dramatically). And unfortunately, there isn’t a whole lot regulating their conduct. Legally, they can call you all day and all night long if they wish (it may be rude to do so, but it certainly wouldn’t be illegal). They can come to your house, pound on the door, stand outside your house for hours on end. There is very little that prevents them from collecting.

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ONLY $675 ATTORNEY FEES FOR A ST LOUIS CHAPTER 7

Yes, it makes all the difference in the world. The level of experience of your attorney, and his or her knowledge of how the Bankruptcy Code works, can sometimes make the difference between whether or not you get to keep your assets (and that’s a very big deal indeed!!)

When our firm files a St Louis bankruptcy (regardless of whether it is a Chapter 7 or Chapter13), we have two main goals in mind: 1) we want to get all of your debt taken care of (either discharged in a Ch7, or consolidated in a Ch13); and 2) we want to make sure all of your assets are protected.

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ONLY $675 ATTORNEY FEES FOR A ST LOUIS CHAPTER 7

There really isn’t a “perfect” time to file a St Louis bankruptcy. The timing of your filing is going to be greatly dependent on a number of factors (some of which may apply, some may not). Below is a description of some of the things that play a significant role in an individual’s decision-making process:

A lot of people will ask me if their debt levels need to reach a certain point before they file for bankruptcy (there isn’t), or if they have to first fall behind on their debts for a certain period of time before filing (you do not), or even if they have to wait until the debts get turned over to a collection agency (which is not necessary at all). In fact, there is no date or point in time that you have to file; indeed, every situation is a little bit different.

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ONLY $675 ATTORNEY FEES FOR A ST LOUIS CHAPTER 7

Yes, you can. In fact, I have many clients who come in to see me for a consultation because they have recently been sued by a creditor, and they want to get it taken care of through their bankruptcy. This is one of the nice benefits of filing for bankruptcy in St Louis.

If you fall behind on your debts, the creditor will end up calling you non-stop and harass you about making on time payments. But if you are unable to make any more payments, then eventually the creditor (or the collection agency that they pass the debt off to) will sue you under a breach of contract theory.

Once the lawsuit is filed, they must serve you with a summons. A summons is basically a large document that gives you all the information you need about the case filed against you (the date of the initial hearing, the address of the court, what type of case it is, etc.).

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ONLY $675 ATTORNEY FEES FOR A ST LOUIS CHAPTER 7

There are many benefits to filing for bankruptcy in St Louis. Some of which are fairly obvious, but there are a number of benefits that are a bit subtle. Below is a list of some of those benefits:

  1. When you file a St Louis Chapter 7, all of your unsecured debt is knocked out (things like credit cards, medical bills, and payday loans are all discharged)
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ONLY $675 ATTORNEY FEES FOR A ST LOUIS CHAPTER 7

If you file a St Louis Chapter 13, but you end up in a position where you can no longer make your regular monthly payments to the Bankruptcy Trustee, then there are a couple of different options. But those options may or may not apply to the facts of your case. Below is a brief description:

To begin with, a Chapter 13 is described as a repayment plan over the course of three (3) to five (5) years during which you pay back certain debts (most notably, mortgage arrearage, car notes, back taxes, back child support, and sometimes a portion of your unsecured debt). There is a monthly payment that must be made, and if you fall behind by two or more payments, the Trustee will file a Motion to Dismiss your case. And if you do not get caught up, the court will grant the motion, and your case will be dismissed.

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ONLY $675 ATTORNEY FEES FOR A ST LOUIS CHAPTER 7

There is a possibility that a portion of your tax refund could go to the Bankruptcy Trustee so that he/she can use it pay towards your unsecured creditors. But the goal of a good St Louis bankruptcy lawyer would be to try and protect those funds. Below is a description of how it works:

Whether or not you have to turn over your tax refunds depends on a couple of things: 1) what chapter of bankruptcy you file; and 2) whether or not you have available exemptions to cover the funds.

When you file a St Louis Chapter 7, the Trustee will treat a tax refund just like any other asset. So if you are due a large refund after you file your tax returns, the Trustee might demand that you turn it over. But there are definitely ways that this outcome can be avoided. For instance, if you take care of your taxes first, get your refund, spend it, and then file for bankruptcy, there’s obviously nothing for the Trustee to take. On the other hand if you can’t wait that long (because you need to file bankruptcy right away), then your attorney can use certain exemptions to protect the funds.

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ONLY $675 ATTORNEY FEES FOR A ST LOUIS CHAPTER 7

No, they cannot. That would be described as “overshadowing”. When a collector takes over a debt, they have to provide you with thirty (30) days in which to dispute the validity of the debt. This means that no demand for funds or payment can be made during that time.

If the collection agency is playing by the rules, then they will follow the provisions set out by the Fair Debt Collection Practices Act (FDCPA). This is a federal law that tightly regulates what third-party collectors can and cannot do. If you’ve never heard of the FDCPA, then you are like most Americans. But then the collection agencies are banking on the hope that you’ve never heard of it either (because many collectors do not take the time to follow the rules at all).

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ONLY $675 ATTORNEY FEES FOR A ST LOUIS CHAPTER 7

Yes, you can. And so long as there is no real equity issue involved with the rental properties, then you can keep them too. But it will come down to what the Fair Market Value (FMV) of the properties are. This will in turn determine if the properties can be protected (depending on which chapter of bankruptcy you file).

When you file a St Louis bankruptcy, you have a duty to disclose to the court everything you own (in other words, it is necessary to tell the court about all of your property). This would include both personal property (clothes, bank accounts, jewelry, etc.), and real property (houses, rental properties, time shares, land, etc.). And if you do not disclose to the court all of the items you have an ownership interest in, the court regards this as an act of fraud.

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ONLY $675 ATTORNEY FEES FOR A ST LOUIS CHAPTER 7

When a creditor receives a judgement against you for an old debt that you owe, it may pursue a few different remedies. One such remedy is to place a lien upon your banking accounts (checking or savings). This lien will remain until the full debt is paid, or if you file a St Louis bankruptcy.

A creditor judgement entitles the creditor to retrieve delinquent funds owed to it in one of three main ways: 1) a wage garnishment (which is the most common method); 2) by placing a lien upon a major asset (such as a piece of real estate); or 3) by placing a lien upon your bank account.

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