Benefits of a St. Louis Chapter 7 Bankruptcy
A Missouri Chapter 7 is commonly referred to as “straight bankruptcy” or a “discharge bankruptcy”. It differs from a St. Louis Chapter 13 in several ways, and has many advantages.
WE WILL WIPE OUT ALL YOUR UNSECURED DEBT!!
Perhaps the most significant feature of a St. Louis Chapter 7 is the discharge of unsecured debt. Things such as credit cards, medical bills, payday loans, deficiencies on loans and contracts, and overdrawn bank accounts are discharged (i.e. gotten rid of forever). Once these debts are knocked out, you are in a much better position to begin rebuilding your credit and the stress of having to deal with a multitude of debts is gone.
From start to finish, the length of a Chapter 7 is relatively short. Once the petition is filed with the court, you can generally expect to receive a discharge three to four months later. Thereafter, you can immediately enjoy the benefits of the fresh start / clean slate that comes with the filing a Missouri bankruptcy.
Of course, the filing of such a bankruptcy will also stop a garnishment of your wages, unfreeze the levy on your bank account, and end any lawsuits filed against you.
The benefits of St. Louis Chapter 7 are fairly succinct and straightforward, and the entire process is comparatively short in length. The St. Louis bankruptcy attorneys at The Law Office of Jennifer Alter-Rieken have filed hundreds of Chapter 7s over the years, and have the necessary experience and expertise to help guide you towards a better financial future.