Articles Posted in St Louis Bankruptcy

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ONLY $675 ATTORNEY FEES FOR A ST LOUIS CHAPTER 7

If you are sued by a creditor, and that creditor receives a judgement in its favor, it may execute on that judgement by garnishing up to 25% of your net earnings. But again, the only way that a garnishment may take place is if the creditor first receives a judgment. A fuller description is provided below:

When you stop paying on a debt (like a credit cards), then the eventually the creditor will sue you in state court for breach of contract (in other words, the creditor will be arguing that you entered into a contract to receive money by way of a line of creditor, but you failed to make timely payments on the debt). The first step in the process is getting you served. This can be a process server (a private individual or company that specializes in such things), or a deputy sheriff of the county in which you live.

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ONLY $675 ATTORNEY FEES FOR A ST LOUIS CHAPTER 7

Yes, you can. The reason why is because most business-related debts are personal guaranteed by an individual. If an individual personally guarantees a business debt, it is nothing more than an unsecured creditor / debtor relationship (and therefore subject to a full discharge by the Bankruptcy Court). A fuller description is provided below:

When you own a business, it is very often necessary that you take out lines of credit (either in the form of a loan or a credit card) so that you can operate at full capacity. Banks and lending institutions are usually willing to extend these lines, but for greater insurance, the lender will very frequently require that you personally guarantee the debt.

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ONLY $675 ATTORNEY FEES FOR A ST LOUIS CHAPTER 7

Not nearly as long as you might think. In most cases, your credit score will improve by about one hundred (100) points within the first year after filing a St Louis bankruptcy. And then you can expect your score to make its way back up to where you want it within about two years after filing.

When you file for bankruptcy in the state of Missouri, it is described as a “fresh start / clean slate”. In other words, the whole idea behind such a filing is so that you can get back up on your feet, dust yourself off, and move forward in life. Bankruptcy will give you a chance to rebuild not only your life, but also your chances at rebuilding your financial standing.

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ONLY $675 ATTORNEY FEES FOR A ST LOUIS CHAPTER 7

No, there are some debts that are described as “non-dischargeable”. These debts would include the following: back child support, back spousal support, most student loans, most tax debts, and any debts that you may have incurred fraudulently. But these are not hard and fast rules. Because the field of bankruptcy law, there are almost always loopholes. A brief description is provided below:

If you owe support payments (either in the form of child support of spousal support to your former husband or wife), then the general rule is that such debts cannot be knocked out by the Bankruptcy Court. This is a fundamental policy that the state of Missouri has determined. If you owe debts that take on the nature of support (as ordered by a state court), and you believe that you do not (or should not) have to make those payments, then the best option would be to discuss the matter with a family law specialist.

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ONLY $675 ATTORNEY FEES FOR A ST LOUIS CHAPTER 7

The chances of you having to appear in front of a judge after filing a St Louis bankruptcy are about zero. There is one (and only one) courthouse appearance that you’ll have to make. But it is not in front of a judge; it is in front of the Bankruptcy Trustee. Below is a more thorough explanation of how the entire process works:

The filing of a bankruptcy is done at the federal level. Broadly speaking, there are two levels of courts through which American citizens can seek relief and/or justice – state and federal. Most state court actions involve things of a more local nature (divorce, child support, child custody, contract disputes, etc.). But the federal courts are reserved for those matters that involve actions that take place across state lines (such as a credit card company in Delaware that offers services to you here in Missouri).

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ONLY $675 ATTORNEY FEES FOR A ST LOUIS CHAPTER 7

Then you should really consider the option of a St Louis bankruptcy. This is a quick, easy, and clean way of getting your financial life back in order. It is a fresh start / clean slate. A chance to get back up on your feet, and start life fresh.

When you are dealing with high levels of debt (especially unsecured debt, like credit cards, medical bills, and payday loans), then life can get hectic!! Your stress level goes through the roof, your relationships suffer, and you can end up feeling like the world is collapsing in around you.

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ONLY $675 ATTORNEY FEES FOR A ST LOUIS CHAPTER 7

No, it will not. In fact, the opposite is more likely to happen. The St Louis bankruptcy process is described as a “fresh start / clean slate”. It is a chance to wipe the slate clean, start fresh, and rebuild. More specifically, you will have a chance to rebuild your credit score (and get it back to where you want it).

Will it happen overnight? No. But it will occur a lot sooner than you think. For instance, most people can expect to see their credit score rise by as much as 75-100 points up within the first twelve months after filing your case. That’s if you did nothing more than sit around all year on the couch. But you can of course be as aggressive as you wish in rebuilding your score. And most folks see their score get back to where you want it be within a year and a half to two years after filing.

Why will your score rise after filing bankruptcy? Shouldn’t it do just the opposite, and fall like a rock?

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ONLY $675 ATTORNEY FEES FOR A ST LOUIS CHAPTER 7

If you file a St Louis bankruptcy, all creditor activity comes to a complete and total halt (it’s as if they hit an immediate brick wall in their attempts to collect on the debts that you owe). So if a creditor has already filed suit against you, then the bankruptcy petition will stop the creditor from doing anything with it. Or if the creditor is only threatening a lawsuit against you, the filing of the bankruptcy will prevent it from moving forward.

When you take out a debt (like a credit card), but you stop making payments towards the balance, then eventually the creditor will sue you in state court for breach of contract (or the collection agency that takes over the debt will on the original creditor’s behalf). If the creditor receives a judgment in its favor (and it almost always does), then it may execute upon that judgment in one of three main ways:

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ONLY $675 ATTORNEY FEES FOR A ST LOUIS CHAPTER 7

Yes, I do. All the time. And I think that the apprehension or fear that people feel about a St Louis bankruptcy is something that most attorneys overlook. This is because most attorneys are almost totally focused on figuring out how much money you make, or what kind of assets you own, or whether or not you qualify for a Chapter 7. But the fact of the matter is, bankruptcy can be a scary endeavor (especially if you do not have a good supporting cast)!!

If you are thinking about bankruptcy, then chances are that you are dealing with a great deal of debt. And more specifically, you are likely trying to manage an enormous amount of unsecured debt (such as credit cards, medical bills, payday loans, creditor judgments, etc.). You might even dealing with a garnishment of your wages (or a bank levy on your checking account). And chances are also high that you are navigating through the world of collection agencies (who can be rude and demanding like nobody else).

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ONLY $675 ATTORNEY FEES FOR A ST LOUIS CHAPTER 7

No, they cannot. As soon as a St Louis bankruptcy is filed, the court institutes the “Automatic Stay,” which is like a wall of protection against all creditor activity (including a creditor contacting you demanding money on the account). Do some creditors violate this stay? Yes, they do. A brief description of what happens is given below:

When a Missouri bankruptcy is filed, every listed creditor will receive notification. This notification from the court will provide the creditor of its rights, and more importantly, of your rights as the Bankruptcy Debtor. Once the stay is in effect, all creditor activity must cease immediately. This would obviously include demands for payment, but also all forms of communication (phone calls, emails, and letters), all legal activity (wage garnishments, bank levies, and lawsuits), or any other sort of activity that includes trying get money out of you.

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