Bankruptcy Lawyer in Ellendale MO
Are there certain benefits that i can expect when i file for bankruptcy?
- Yes, first and foremost, it gives you the ability to greatly improve your credit score!! For instance, you can expect your score to go up by about 100 points within the first year after filing.
- And then of course all that awful noise you are currently receiving from all the creditors will come to an end! No more phone calls, no more letters, no more threats of lawsuits
- On top of that, all activity that resulted from a judgment rendered against you will come to an end as well: no more wage garnishments, no more bank levies, and no more petitions for breach of contract
Is there a list of debts that will be taken care of when i file bankruptcy?
- Credit cards, medical bills, payday loans
- Old utility bills (such as: gas, electric, water, trash, and sewer)
- Balances that are owed on assets you no longer have (that resulted from a car repossession, home foreclosure, or rental contract)
- And just about anything that is of an unsecured nature
- The most significant difference would that a Ch13 is a repayment plan (which allows you to get caught up on certain debts, spread out over a period of time); a Ch7 is nothing more than a discharge of unsecured debt
- A Ch7 lasts for about four to five months; a Ch13 will run for three (3) to five (5) years in length
- In a Ch7, there is a chance you could lose an asset with a great deal of equity (especially if there are no governmental exemptions applied to it); in a Ch13, you do not run the risk of losing an asset (but it could have an effect on how big your monthly payment will end up being)
At The Law Office of Jennifer Alter-Rieken, we want to make sure that you receive the very best bankruptcy services in all of the St Louis area. Our team will get you back on your feet, help to dramatically improve your financial standing, and put you in the best position possible for the future. The attorney fees for a standard St Louis Chapter 7 are $675, and the upfront fees for a St Louis Chapter 13 are $300. But the initial consultation is free of charge!!
We have two main locations: in the Central West End of St. Louis, at 1 North Taylor (on the corner of Taylor and Laclede), 63108; and in the Twin Cities of Festus / Crystal City, at 1000 Truman Blvd (Highway 61/67), 63019. The initial consultation is free of charge. So contact ustoday to learn more!!