Bankruptcy Lawyer in Maplewood MO
Are there certain advantages to filing for bankruptcy?
- Yes, and the most obvious benefit of filing for bankruptcy is the opportunity it will give you to rebuild your financial standing. And the best way of doing that is by strengthening your credit score. Most folks can expect to see their score rise by about 100 points within the first year after filing (which puts you well on your way!!)
- But the most immediate effect you will notice is that all creditor activity will come to a complete stop: no more of the endless phone calls, no more nasty letters, no more threats of legal action
- And if a creditor has in fact received a judgment against you, the filing of the bankruptcy will also stop things like wage garnishments, bank levies, and any future lawsuits
What sort of debts will be taken care of when i file?
- Whatever deficiencies may result from a car repossession, home foreclosure, or broken rental contract
- Old utility bills (like gas, electric, cable, and water), overdrawn bank accounts (that may be preventing you from getting a new account), old cell phone bills, etc.
- Credit cards and medical bills
- Payday loans, signature loans, personal loans
- A Chapter 13 is best described as a repayment plan during which certain debts are paid back (like past due mortgage payments, recent tax debt, and back child support); a Chapter 7 is a simple discharge of your unsecured debt
- A Ch13 will run between three (3) to five (5) years; a Ch7 is only about five (5) months in length
- A Ch7 would be the chapter of bankruptcy that could result in your losing an asset (especially if it has substantial equity); in a Ch13, you don’t have to worry about this type of outcome (but if your assets have a lot of value, it could increase your monthly plan payment)
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!!