Bankruptcy Lawyer in Moline Acres MO
Are there advantages to filing for bankruptcy?
- Right off the bat, you will notice that all the obnoxious activity from your creditors (like phone calls, emails, and letters) will stop once the bankruptcy petition is filed
- Or if any of your creditors have received judgments against you, then will not be able to execute on it (no more wage garnishments, no more bank levies, no more future lawsuits)
- And without a doubt, the single greatest advantage to filing for bankruptcy is that it will give you a chance to rebuild your credit score (within a relatively short period of time)
What kind of debts are typically handled in a bankruptcy?
- Credit cards and medical bills
- Payday loans (especially those that are attached to your bank account), signature loans (especially those that originate online), and personal loans (especially between family and friends)
- Whatever deficiencies might arise from a car repossession, home foreclosure, or broken rental contract
- Old utility bills (like water, cable, gas, electric, etc.); old cell phone bills; old gym memberships; overdrawn bank accounts
- And any type of debt that is of an unsecured nature (this usually means that there would not be any collateral attached to it)
- In a Ch7, the Bankruptcy Trustee is trying to find any asset that has a great deal of value (like a paid-in-full car, or a bank account with a high balance, or a large tax refund); in a Ch13, the Trustee is mainly trying to figure out a way to make your monthly plan payment as high as possible (so that your unsecured creditors receive funds)
- A Ch7 will last about five (5) months in length; a Ch13 will run between three (3) and five (5) years
- A Ch7 is best described as a straight discharge of unsecured debt; a Ch13 is a repayment plan during which certain debts are paid back over a period of years
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!!