If you’re unable to pass the Means Test, then it’s certainly time to hire a bankruptcy attorney (if you haven’t already). When you file a St. Louis Chapter 7 bankruptcy, a large amount of information is provided to the court. All your real estate, personal property, stocks, bonds, and other…
Yes, so long as it is a fund and/or account that is recognized by the IRS as being for the purpose of retirement. Typically, people have retirement or pension funds to which both the employer and employee contributes. These contributions are normally in the form of a simple deduction from…
That depends on your specific circumstances. It is possible that, because of your particular situation, hiring a debt consolidation company makes more sense than filing for bankruptcy. However, there are several precautions that you should be made aware of before going that route. To begin with, it is understandable why…
Yes, but there are a great many rules that the collector must follow when they do something like this. And more often than not, the collector breaks those rules, disobeys the law, and violates the rights of not only the person who owes the debt, but also the individual to…
They’re not supposed to. But of course they frequently do. Federal law prohibits this type of collection activity. This is usually a big surprise to people when they hear it, but it is an absolute violation of your consumer rights for a collection agency to call your cell phone when…
No, you can file individually. You certainly have the opportunity to file jointly if you are married. But it is not necessary (although, there may very well be circumstances in which a joint filing makes more sense, depending on the debts involved). Filing individually is fine, but you will still…
Not at all. Being gainfully employed and earning a regular salary is not a hindrance to filing a Missouri bankruptcy. Indeed, most people have a job when they file (and in some cases, depending on which chapter of bankruptcy you file, it is quite necessary that you have a job).…
No, it is not necessary that you have accrued a certain amount of debt before filing for bankruptcy. Some people have tens of thousands of dollars in credit card debt, several more thousand in medical bills, and a few hundred in payday loans. Of course, that doesn’t necessarily mean that…
No, you do not. In fact, you can be completely current on all bills before filing for bankruptcy. Nor is there any limitation as to how much debt you carrying before deciding to file. In other words, there is no set amount of debt that you must first accumulate before…
Yes, they can. But let’s back up for a moment and examine why this could be the case. When you purchase a car, you enter into a basic financing agreement (unless you buy the car outright, in which case the former owner simply transfers title to you). This agreement lays…