No, not necessarily. Although sometimes it can get held up because of a disagreement between you and the Trustee. When you file a St. Louis Chapter 13 bankruptcy, one of the key forms that need to be submitted to the court is a Chapter 13 plan. This plan describes in…
Yes, it will. The deficiency that results from the sale of a repossessed car or truck (or motorcycle, or boat, or any other form of transportation that was repossessed) is considered to be “unsecured” debt. Unsecured debts (or that portion of the debt that is described as unsecured) are subject…
Yes, it is possible to keep a motorcycle (or boat, or some other non-traditional form of transportation). But there are a couple of different things you should keep in mind before your case is filed. The easiest way to help you understand how your motorcycle will be affected is if…
No, that is not necessary at all. Some people are completely current on all their debts right before they file a St. Louis bankruptcy. And sometimes, individuals are several years behind on their bills before filing a petition. The exact time you file a Missouri bankruptcy is dependent upon several…
In most cases, immediately. There are occasions, however, in which your payroll department may still deduct the garnishment from your next paycheck after filing a St. Louis bankruptcy. This almost always occurs when your next payday follows very closely in time to the actual date of filing the bankruptcy petition.…
No, not necessarily. The goal is to be in a situation in which you only have to pay back a certain portion of your unsecured debt (such as credit cards, medical bills, payday loans, etc). A St. Louis Chapter 13 bankruptcy is described as a repayment plan over the course…
No, it is not difficult or hard at all. The process can seem a little daunting at first, but that is mainly due to people’s (understandable) anxiety about filing in the first place. So long as you hire an experienced, knowledgeable firm to handle your case, you should be just…
No, it may not. And if the debt collector does in fact ask you to make this kind of a payment, then it has violated federal law and your consumer rights. There is, however, a remedy for this behavior on the part of the collector. The Fair Debt Collection Practices…
Yes, there are a few debts that cannot be discharged in either a St. Louis Chapter 7 bankruptcy or a St. Louis Chapter 13 bankruptcy. These specific debts are described as non-dischargeable, and will therefore remain as debts that you will be obligated on. But understanding which exact debts these…
Yes, of course. When you file a Missouri or Illinois bankruptcy, having a large type of monthly expense is perfectly acceptable. However, if the expense is quite a bit larger than what would normally be spent by a household of comparable size, the United States Trustee may ask for documentation…