It depends on what kind of debt it is. If we are talking about unsecured debt (such as credit cards, medical bills, payday loans, old utility bills, etc.), it is completely wiped out by the federal government in a St. Louis Chapter 7 (but some of it may get paid…
You should contact a St. Louis bankruptcy attorney right away, because such a lawyer can tell you if the debt collector has been violating your federal rights. St. Louis collection agencies are subject to the Fair Debt Collection Practices Act (FDCPA). This is a federal law that tightly regulates what…
As a general rule, student loans cannot be discharged in a St. Louis bankruptcy. This is true whether the filing is a Chapter 7 or Chapter 13. However, in a St. Louis Chapter 13, you are not expected to make any student loan payments while the repayment period is in…
The first thing you should do is contact an FDCPA (Fair Debt Collection Practices Act) lawyer who understands the laws that regulate St. Louis collection agencies. Because there is a decent chance that the debt collector is violating your rights, and if they are, the collector has to pay you…
No, there is not. People filing for bankruptcy have varying levels of debt, but there is no set amount that you must have before qualifying. However, I would say that on average, I file bankruptcies for people who have high levels of credit card debt (5-10K or more), lots of…
Yes, you certainly can. But timing is of the essence. So if your car was recently repo’ed, then you will need to move quickly. One of the main reasons why someone might contemplate a St. Louis Chapter 13 bankruptcy is a repossessed car that they wish to keep. So long…
Yes, you absolutely can. In fact, having high medical bills is one of the biggest reasons why someone chooses to file a St. Louis bankruptcy. The amount that hospitals charge for medical services is extremely high. A recent report done in Time Magazine shows just how ridiculously high. In one…
Yes, you do. The court does not allow you to pick and choose which debts will be included, and which will not. But there are a few wrinkles to that general rule. To begin with, there are three main types of debts: 1) secured debts (such as a mortgage or…
No, you do not. You given the option to retain your home (with certain qualifications) when you file a St. Louis bankruptcy. But such an asset has to be listed in your bankruptcy nonetheless. For most people, real estate is the most important and valuable asset they own (not to…
Yes, absolutely! Probably the biggest misperception that people have when they meet with me is the idea that their credit rating or score will never recover after filing for bankruptcy. Like they will never again be able to finance a car, or get a home loan, or even take out…