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St Louis Bankruptcy: Top 5 Reasons Why Filing For Bankruptcy Can Benefit You


There are a number of benefits that one receives from the filing of a St Louis bankruptcy. Many of those benefits are fairly obvious, but some can be a pleasant surprise. Listed below is the top five:

  1. A Missouri bankruptcy will take care of all your unsecured creditors (credit cards, medical bills, payday loans, old utility bills, overdrawn bank account, personal loans, etc.). If you file a Chapter 7, all of the unsecured creditors are discharged. If it is a Chapter 13, then there is a possibility that some of the unsecured creditors will be paid back a portion of what they are owed.
  2. A bankruptcy will stop all creditor activity in its tracks. No more phone calls, no more harassment, no more letters. And it also will put an end to things like wage garnishments, bank levies, and liens.  In addition, a bankruptcy will prevent a home foreclosure from going through, and will also allow you to get your repossessed car back (assuming the creditor has not already resold it).
  3. A St Louis bankruptcy will allow you to rebuild your credit score in a relatively short period of time. Most people can expect to see their score rise by about 100 points or so within the first year of filing (unless you are more aggressive about getting it higher). And then within about a year and a half to two years after filing, you will see your score back up to where you want it. So it won’t happen overnight, but it will happen over a much shorter period than most people realize.
  4. The emotional burden you’ve been facing will be lifted in an instant. All the pressure, the worrying, the tears, all of it will vanish with the filing of a bankruptcy. You will literally get a new lease on life, a fresh start / clean slate.  A chance to more forward, and build your future (financially, and otherwise).
  5. If you have collection agencies harassing you, those entities can be handled by way of the FDCPA. The Fair Debt Collection Practices Act is the federal law that tightly regulates what a collector can and can’t do. And if the collector violates this statute, then the third-party collector has to pay you up to $1,000 (and they also have to pay all of your attorney fees).

This is short list of the benefits one can expect from filing a St Louis Bankruptcy. In order to find out what else you expect, you should set up an appointment to come see us!! The initial consultation is free.


The affordable St. Louis bankruptcy attorneys at The Bankruptcy Company have been saving and protecting people’s assets for years. Our goal is to make sure that you keep the assets and property you want, discharge the debts that you want to get rid of, and do it all at an affordable cost to you. All phone conversations and office consultations are free of charge.

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