Filing For Bankruptcy in Overland MO


There are a couple of different ways you can address overwhelming debts levels:  1) you can try and pay off the debt over a period of years;  2) you can file a St Louis bankruptcy.

If you go with option #1, then you will end up paying your creditors way more than you currently owe.  Why?  Because the way in which creditors make money is by charging interest on top of the principal amount owed.  And more often than not, that rate of interest is incredibly high (usually double digit, and it is not unheard of to see interest rates come in at 35-55%).  This in turn means that not only will it take you a very long time to pay off the debt (especially if you pay nothing more than the monthly minimums), but you will end up paying triple to quadruple the amount you initially took out.


Option #2 is a bit more straightforward!  A St Louis bankruptcy will put an immediate stop to all creditor activity:  no more phone calls, no more letters, no more demand for payments, no more threats of lawsuits.  Everything comes to a complete halt.  This “automatic stay” also applies to wage garnishments, bank levies, and pending breach of contract actions. 

Whether it is a Chapter 7 (in which all of your unsecured debts are knocked out:  credit cards, medical bills, payday loans, etc.), or a Chapter 13 (which is described as a repayment plan during which certain debts are paid back:  back child support, overdue mortgage payments, recent tax debt, and car loans), you will be in a much position than the one you are right now!!

All you need to do is give us a call!  Or shoot us a text, send us an email, or fill out an online form.  We will answer all your questions, describe your full range of options, and get you the “fresh start / clean slate” you need in life!

The affordable St. Louis bankruptcy attorneys at The Law Office of Jennifer Alter-Rieken have been saving and protecting people’s assets for years.  Our goal is to make sure that you keep the assets and property you want, discharge the debts that you want to get rid of, and do it all at an affordable cost to you.  All phone conversations and office consultations are free of charge.

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