Bankruptcy Lawyer in Pagedale MO
Are there certain advantages to filing for bankruptcy?
- Yes, and the most beneficial advantage is the “fresh start / cleans slate” that someone receives from the court upon the filing of the case. This is the mechanism by which you will then greatly improve your credit score (in the not-too-distant future).
- And if you are dealing with a bunch of creditors and collection agencies who are constantly calling you, harassing you for payments, or threatening you with lawsuits, all of this will come to a hard stop as soon as the case is filed.
- But if the creditor has already secured a judgment against you, all of the activity attached to this outcome will end as well (no more wage garnishments, no more bank levies)
Can you list a few debts that would be included in my bankruptcy?
- Most of the stuff that you would normally think of, like credit cards and medical bills
- But also pesky items like payday loans (that attach themselves to bank accounts), signature loans (that normally come from less than trustworthy websites), and personal loans (especially those that come from family members and friends)
- And then there are all the little annoying debts that can add up quickly (like old utility bills, old gym memberships, and overdrawn bank accounts)
- And really anything that would take on an unsecured nature
- The largest difference would be how the Bankruptcy Trustee handles each chapter: in a Ch7, the Trustee is looking for any assets that have a great deal of equity (that your lawyer can’t protect); the Ch13 Trustee is looking for any way to make your monthly plan payment higher (which means you don’t have to worry about losing any assets in this chapter of bankruptcy)
- A Ch7 is going to last about five months from start to finish; a Ch13 will run between three and five years in length
- A Ch7 is a simple discharge of unsecured debt; a Ch13 is a repayment plan during which certain debts are paid back
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!