Articles Posted in St. Louis Chapter 13 Bankruptcy

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ONLY $300 UPFRONT ATTORNEY FEES FOR A ST LOUIS CHAPTER 13

There are many reasons why someone (or a married couple) would want to file a St Louis Chapter 13 bankruptcy. Most people, however, are unaware of the benefits that come with this chapter of bankruptcy (because there are certain bonuses that do not come with a Chapter 7). Below is fuller discussion of this topic:

A Ch13 is described as a repayment plan over the course of three (3) to five (5) years during which certain debts are paid back. One common reason for a Ch13 filing is when you own real estate, but you have fallen behind on the mortgage payments (and now you are facing a foreclosure). If you want to keep the property, then the best option would be to file a Ch13, which would stop the foreclosure proceeding, and get you into a repayment plan to you caught up (but spread out over a period of years).

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ONLY $300 UPFRONT ATTORNEY FEES FOR A ST LOUIS CHAPTER 13

There are many reasons why someone (or a married couple) would want to file a St Louis Chapter 13 bankruptcy. Most people, however, are unaware of the benefits that come with this chapter of bankruptcy (because there are certain bonuses that do not come with a Chapter 7). Below is fuller discussion of this topic:

A Ch13 is described as a repayment plan over the course of three (3) to five (5) years during which certain debts are paid back. One common reason for a Ch13 filing is when you own real estate, but you have fallen behind on the mortgage payments (and now you are facing a foreclosure). If you want to keep the property, then the best option would be to file a Ch13, which would stop the foreclosure proceeding, and get you into a repayment plan to you caught up (but spread out over a period of years).

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ONLY $300 UPFRONT ATTORNEY FEES FOR A ST LOUIS CHAPTER 13

A lot of people mistakenly believe that a St Louis Chapter 13 bankruptcy is the wrong route to take. This is because most people are familiar with the Chapter 7 option (in which unsecured debt is knocked out, and you are done about four months after your start), but also because the benefits of a Chapter 13 are not well known. Below is a brief description of some of those lesser known benefits:

To begin with, a Ch13 is described as a repayment plan over the course of three to five years during which certain debts are paid back. It is a chance to get caught up on assets you would like to keep, and it gives you an opportunity to take a deep breath. But what are some specific benefits?

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ONLY $675 ATTORNEY FEES FOR A ST LOUIS CHAPTER 7 BANKRUPTCY

Depending on the circumstances of your case, there are a few options available. However, it should be pointed out right away that if you are currently in a St Louis Chapter 13, there is probably a very good reason for it (like you were trying to save your house from foreclosure). And if you have fallen behind on your monthly payments, the very first thing to investigate is why exactly you’ve gotten behind.

A Chapter 13 is described as a repayment plan over the course of three (3) to five (5) years during which certain debts are paid back. Typically this would include mortgage arrearage (i.e. the delinquent amount owed on your home loan), any outstanding car loans (at an interest rate of 4.75%), most tax debt, back child support, and sometimes a portion of your unsecured debt (such as credit cards, medical bills, and payday loans).

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ONLY $300 UPFRONT ATTORNEY FEES FOR A ST LOUIS CHAPTER 13

If you fall too far behind on your St Louis Chapter 13 plan payments, then your case will get dismissed by the court. But there are ways in which to keep that from happening. The bankruptcy court recognizes that there are circumstances that might cause you to fall behind on your payments. And as long as you are able to show a willingness (and the ability) to make an effort to get caught up, then the chances are good that your Ch13 would not get dismissed.

Most of the time when someone falls behind on their monthly Ch13 payments it is because of a job loss (or a cut in pay, or even a switch from one job to another (with a period of time in between when your income was reduced). If you are able to get caught back up fairly quickly after you fall behind, then there is a chance that the Bankruptcy Trustee would not file a Motion to Dismiss for Failure to Make Plan Payments.

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ONLY $300 UPFRONT ATTORNEY FEES FOR A ST LOUIS CHAPTER 13

Yes, they can be paid back with a St Louis Chapter 13 repayment plan. Tax debts are considered to have priority status with the Bankruptcy Court, so those kinds of debts are paid to the taxing authority ahead of many other creditors. But in addition to this, there are occasions when some of your tax debts can actually be discharged. A brief description is given below:

A Chapter 13 is described as a repayment plan over the course of three (3) to five (5) years during which certain debts are paid back (such as mortgage arrearage, car notes, back child support, tax debts, and sometimes a portion of your unsecured debts). As mentioned above, tax debts are given priority status (and therefore carry a presumption of non-dischargeability). But sometimes tax debts can be knocked out.

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ONLY $300 UPFRONT ATTORNEY FEES FOR A ST LOUIS CHAPTER 13

Most people believe that a St Louis Chapter 13 bankruptcy is undesirable (or that it will not extend to them any benefits). But there are many situations in which a Ch13 makes more sense than a Chapter 7. Below is a brief description of what those situations are (and how a St Louis bankruptcy lawyer can help you:

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ONLY $300 UPFRONT ATTORNEY FEES FOR A ST LOUIS CHAPTER 13

The best way to get a repo’ed car back is by filing a St Louis Chapter 13 bankruptcy. When this sort of bankruptcy is filed, then the car creditor has to give the car back, and you are put into a repayment plan to take care of the balance of the loan (along with other secured and priority debts that you owe). A more thorough explanation of the process is described below:

A Ch13 is described as a repayment plan over the course of three to five years. During this repayment plan, certain debts are paid back. These things would include outstanding balances on a car note, tax debt, back child support (if applicable), back mortgage payments, and sometimes a portion of your unsecured debts (like credit cards, medical bills, and payday loans).

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ONLY $300 UPFRONT ATTORNEY FEES FOR A ST LOUIS CHAPTER 13

If you fall behind on two months of your St. Louis Chapter 13 plan payments, then the Bankruptcy Trustee will file a Motion to Dismiss your case (for failure to make payments). Just because the Trustee files such a motion does not automatically mean that your case will be finished. Indeed, there are several options at that point to get caught up.

A Chapter 13 is described as a repayment plan over the course of three (3) to five (5) years during which certain debts are paid back. These debts would include mortgage arrearage (i.e. the amount that you have fallen behind on your house payments), car loans (but using the court’s interest rate of 4.75%), tax debt (including income, personal property, sales, and real estate taxes), back child support, and possibly a portion of your unsecured debt (such as credit cards, medical bills, and payday loans).

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ONLY $675 ATTORNEY FEES FOR A ST LOUIS CHAPTER 7

Your household income is the single biggest factor in determining which chapter of bankruptcy you may file. In a nutshell, if you are below the median income for your particular household size, then you can probably file a St Louis Chapter 7. But if you are above the median income (or at least above this level after all deductions may be taken), then the court will require that you file a St Louis Chapter 13. Below is a description of how it all works:

The Federal Bankruptcy Code clearly sets out who may file a Chapter 7. If you are below the median income level for your particular household size, and you have not filed a Ch7 within the last eight (8) years, then you may file a Ch7. What is the “median income level” for your household size? That is the main question when it comes to bankruptcy law.

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