Because not disclosing to the Bankruptcy Court a list of everything that you have an ownership interest in can possibly result in the court ruling that you have committed bankruptcy fraud. So it’s really not worth withholding information, especially when the item in question is just a simple piece of…
Yes, but only after they go through the normal procedural hoops the court requires. This is assuming they have permission from the original creditor to do so in the first place. But let me back up and explain a few things first. When a debt is passed on to a…
The most a creditor can garnish from your wages is 25% of your net earnings (after all deductions like taxes and health insurance are taken out) from each paycheck. Or if you are classified as head-of-household status on your taxes, then you can get that amount down to 10% of…
It depends on which chapter of a St. Louis bankruptcy that you file. The two main chapter are a 7 and 13, both of which I will discuss in some detail below. The most common form of bankruptcy is the St. Louis Chapter 7. This is usually described as a…
Yes, there are several. Many of these restrictions are codified into federal law, specifically the Fair Debt Collection Practices Act (FDCPA). And when a debt collector violates this act, it must be held accountable for having trampled upon your consumer rights. The FDCPA is a federal law which lays out…
No, not at all. In fact, if your attorney knows what he/she is doing, then it is quite possible that all of your belongings will remain with you (and therefore out of the Trustee’s hands). When you file a St. Louis bankruptcy, it is necessary for you to disclose to…
Yes, it will. I could just end the conversation there, but you are probably wanting a fuller explanation as to why!! Most people operate under the misperception that filing a St. Louis bankruptcy will ruin their credit rating forever. They believe that they will never be able to purchase a…
It depends on a number of factors, but the main consideration to keep in mind is that if the transfer was significant or large, then it is possible that the Bankruptcy Trustee would want to investigate the matter. But let me back up just a little bit. When you file…
In a surprisingly shorter period of time than you may think. The filing of a Missouri bankruptcy allows for what is called a “fresh start / clean slate“. This means that once a discharge of your unsecured debts (like credit cards, medical bills, payday loans, etc.) occurs, you are in…
If your creditors sue you, they will surely be awarded a judgment in their favor. Once they have a judgment in hand, they can move towards things like a wage garnishment, bank levy, or even the placement of a lien against your home. When you fall behind on your debts,…