St. Louis Bankruptcy Lawyers Blog

ONLY $675 ATTORNEY FEES FOR A ST LOUIS CHAPTER 7

Then you should really consider the option of a St Louis bankruptcy. This is a quick, easy, and clean way of getting your financial life back in order. It is a fresh start / clean slate. A chance to get back up on your feet, and start life fresh.

When you are dealing with high levels of debt (especially unsecured debt, like credit cards, medical bills, and payday loans), then life can get hectic!! Your stress level goes through the roof, your relationships suffer, and you can end up feeling like the world is collapsing in around you.

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ONLY $675 ATTORNEY FEES FOR A ST LOUIS CHAPTER 7

If you file a St Louis bankruptcy, all creditor activity comes to a complete and total halt (it’s as if they hit an immediate brick wall in their attempts to collect on the debts that you owe). So if a creditor has already filed suit against you, then the bankruptcy petition will stop the creditor from doing anything with it. Or if the creditor is only threatening a lawsuit against you, the filing of the bankruptcy will prevent it from moving forward.

When you take out a debt (like a credit card), but you stop making payments towards the balance, then eventually the creditor will sue you in state court for breach of contract (or the collection agency that takes over the debt will on the original creditor’s behalf). If the creditor receives a judgment in its favor (and it almost always does), then it may execute upon that judgment in one of three main ways:

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ONLY $675 ATTORNEY FEES FOR A ST LOUIS CHAPTER 7

Yes, I do. All the time. And I think that the apprehension or fear that people feel about a St Louis bankruptcy is something that most attorneys overlook. This is because most attorneys are almost totally focused on figuring out how much money you make, or what kind of assets you own, or whether or not you qualify for a Chapter 7. But the fact of the matter is, bankruptcy can be a scary endeavor (especially if you do not have a good supporting cast)!!

If you are thinking about bankruptcy, then chances are that you are dealing with a great deal of debt. And more specifically, you are likely trying to manage an enormous amount of unsecured debt (such as credit cards, medical bills, payday loans, creditor judgments, etc.). You might even dealing with a garnishment of your wages (or a bank levy on your checking account). And chances are also high that you are navigating through the world of collection agencies (who can be rude and demanding like nobody else).

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ONLY $675 ATTORNEY FEES FOR A ST LOUIS CHAPTER 7

No, they cannot. As soon as a St Louis bankruptcy is filed, the court institutes the “Automatic Stay,” which is like a wall of protection against all creditor activity (including a creditor contacting you demanding money on the account). Do some creditors violate this stay? Yes, they do. A brief description of what happens is given below:

When a Missouri bankruptcy is filed, every listed creditor will receive notification. This notification from the court will provide the creditor of its rights, and more importantly, of your rights as the Bankruptcy Debtor. Once the stay is in effect, all creditor activity must cease immediately. This would obviously include demands for payment, but also all forms of communication (phone calls, emails, and letters), all legal activity (wage garnishments, bank levies, and lawsuits), or any other sort of activity that includes trying get money out of you.

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ONLY $675 ATTORNEY FEES FOR A ST LOUIS CHAPTER 7

There are some debts that are described as “non-dischargeable”. Delinquent child support is example of a non-dischargeable debt. In other words, a St Louis bankruptcy will not get rid of the amounts you owe towards back child support. Other examples of non-dischargeable debts would be most tax debts (although there is a loop hole in that rule that can be taken advantage of, assuming you qualify) and student loans (however, there is a possibility of getting student loans knocked out in certain circumstances).

However, there is a chance to file a St Louis Chapter 13. This type of bankruptcy 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 back child support).

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ONLY $675 ATTORNEY FEES FOR A ST LOUIS CHAPTER 7

Yes, it will. For instance, a St Louis Chapter 7 will discharge the debt associated with a creditor that had sued you. A description of how the process works is provided below (along with examples in which such a debt cannot be discharged):

Let’s say you have a credit card that goes delinquent after a period of time. The credit card holder will call you day and night, but eventually they will sue you for breach of contract (or hand it over to a debt collector who will also eventually sue you). Once the creditor receives a judgment against you, it can then turn around and garnish your wages, levy your bank accounts, and put liens against your property.

But if you were to file a St Louis bankruptcy, that debt will be taken care of completely (either by way of a complete discharge in a Ch7, or a consolidation plan in a St Louis Chapter 13). The filing of bankruptcy will stop the creditor’s efforts to move against you (which means that a potential wage garnishment would have to come a halt).

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ONLY $675 ATTORNEY FEES FOR A ST LOUIS CHAPTER 7

When you file a St Louis bankruptcy, your assets are kept safe and protected by way of “exemptions” that the state of Missouri provides. These exemptions do just what the name implies: they exempt your possessions (i.e. keep them out of the bankruptcy estate). This in turn ensures that those assets will be safe (and stay in your possession).

Let’s look at a specific example: say you own a lot of costume jewelry. This jewelry is in the form of earrings, necklaces, bracelets, and other formal wear. Your St Louis bankruptcy lawyer will ask you to provide garage sale value for these items. In other words, not the value that you personally hold for them (like sentimental value), or what you originally paid for them.

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