Yes, you do have to disclose all personal and real property. This would include things like cars, houses, and time shares. But also stocks, bonds, bank accounts, and intellectual property. Even things like pots, pans, clothes, jewelry and other personal property needs to be disclosed. Now to be clear, it’s…
There really isn’t a list of qualifications for someone wanting to file for bankruptcy. I think what most people are wondering when they ask this question is, Can I file a St. Louis Chapter 7 bankruptcy? And the answer to that question is a bit involved. To begin with, the…
Unfortunately, no. The bankruptcy code describes student loans as non-dischargeable. This means that if you file a St. Louis Chapter 7 bankruptcy, all of your other unsecured debts (like credit cards, medical bills, payday loans, etc.) will get knocked out. But the student loans will still be there at the…
As with most situations, this question depends largely on which chapter of bankruptcy you file for. There are different implications involved when you file a Missouri Chapter 7 or a Missouri Chapter 13. Ultimately, if the bankruptcy Trustee decides that he is interested in your tax refund, he/she will demand…
Because determining the fair market value of an asset will show whether or not the asset has any equity. If the asset has equity (i.e. value above what is still owed on the loan), then there is a potential that you may have to surrender it in a St. Louis…
This question is somewhat difficult to answer, because I can’t really speak for other law firms and why they might charge one fee as opposed to another. Some charge quite a bit, and some charge only a very small amount. The real question to ask is whether or not the…
A number of things go into making sure that an appropriate amount is paid monthly to the Chapter 13 Trustee. A list of all your secured creditors is necessary, as well as any debts owed to the government such as taxes and back child support, and a determination as to…
I get this question a lot. I think what people are really asking about is whether or not they can keep their car. When I answer that, yes, you can keep your car, they normally look confused and ask, “Then why in the world do we need to put that…
No, it will not. When you file for bankruptcy (whether it is a St. Louis Chapter 7 or a St. Louis Chapter 13), any student loans that you have cannot be discharged (other examples of non-dischargeable debts would include taxes and child support obligations). So even though you may get…
The short answer is of course yes, you can in fact save your house if you file for bankruptcy. In most cases, an individual has fallen behind on their monthly mortgage payments, and the bank has moved forward with foreclosure proceedings. Once the foreclosure action is filed (by a law…