Because the main job of the Trustee is find any assets that you might have with equity, sell them, and use the proceeds of the sale to pay towards the unsecured creditors that are to be discharged in your case. But that doesn’t necessarily mean that there is anything in…
No, if won’t. And to be honest, once you receive a discharge at the end of your bankruptcy, you can expect the credit card companies to start sending you applications right away. In fact, you can probably expect your mailbox to be flooded with credit card applications the moment you…
Yes, it is possible to get rid of a second mortgage if you file a St. Louis Chapter 13 bankruptcy. Such a filing allows for the possibility of stripping off any junior liens on a piece of real estate. And so long as you complete the Chapter 13 plan, the…
There are many benefits to filing a St. Louis Chapter 13 bankruptcy. To begin with, the Missouri Chapter 13 is described as a repayment plan over the course of three to five years in length. It is an opportunity to consolidate your debts, keep the property that you wish to…
Yes, it will. When a creditor sues you after you default on a loan, the court will most likely rule in its favor. Once the creditor receives this judgment, it then has the option of doing one of three things: 1) garnishing your wages; 2) levy (freeze) your bank account;…
Yes, you can. But there are a few limitations that need to be observed. The idea behind the filing for bankruptcy is the ability to get a “fresh start / clean slate”. This is an extraordinary thing if you think about it: the government is giving you the chance to…
Yes, absolutely. What we have seen over the past several years in this country is not only an increase in job loss, home foreclosures, car repossessions, and bankruptcy filings. We have also witnessed a tremendous growth in the collection industry. This growth is due to the unprecedented levels of debt…
This is a very common question, because most people are concerned about whether the co-signer (who is usually a friend or a relative) will adversely affected. Simply put, if you file for bankruptcy and a co-signed debt is included to be discharged, then the creditor will still have the ability…
The whole idea behind filing for bankruptcy is so that you can move forward with life. This is what the court describes as a “fresh start / clean slate“. It’s a chance to wipe the slate clean, start fresh and new, and begin to rebuild your life. All the hassles…
There are many reasons that filing a St. Louis Chapter 13 bankruptcy may be beneficial to a prospective client. One such reason is the ability of the debtor to modify the rights of holders of secured claims. This is commonly referred to as a “cram down,” and is typically applied…