Bankruptcy Lawyer in Hazelwood MO
Can i you identify the benefits that come from filing for bankruptcy?
- All of the ridiculous creditor activity you have been putting up with will come to a complete stop! That includes phone calls, letters, threats of legal action, and collection agencies.
- If the creditors have taken the aggressive step of a lawsuit, the filing of the bankruptcy will also stop things like wage garnishments, bank levies, and any future legal action
- And by far, the most significant factor is the fact that your credit score will rise quite a bit (in a much shorter period of time than you might think)
Are there specific debts that would be handled in a bankruptcy?
- The usual suspects, like credit cards and medical bills
- But also payday loans, personal loans, and signature loans (especially those loans that originate online)
- Any deficiencies that result from car repossessions, home foreclosures, and apartment rental contracts
- A Chapter 7 is a straight discharge of unsecured debt (like credit cards and medical bills); a Ch13 is described as a repayment plan (during which certain debts are paid back, like overdue mortgage payments and back child support)
- A Ch7 will last about five months (from start to finish); a Ch13 will run between three and five years
- The only time you would need to worry about losing an asset would be in a Chapter 7, in which you have assets that have a great deal of equity; there is no worry about losing an asset in a Ch13 (but if you have assets with a lot of value, that can have an impact on how high your monthly plan payment will be)
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 us today to learn more!!