Published on:

By

No, it will not. In fact, most people are surprised to learn that your credit score will actually climb (on average) of about one hundred (100) points within the first year of filing for bankruptcy. And that within a year and a half to two years after filing, your credit rating is usually back up to where you want it to be.

ST LOUIS CHAPTER 7 BANKRUPTCY FEES:  $675

Probably the most common misperception that I hear from people when I do a bankruptcy consultation is the idea that they will somehow be in a worse position credit-wise after filing. But the exact opposite is true. The court system describes a St. Louis bankruptcy as a “fresh start / clean slate”. It’s a chance to wipe the slate clean, pick yourself up, and start fresh. It’s a chance to move forward in life with a much better financial standing.

Continue reading →

Published on:

By

There are definitely a few documents that will be needed in order to file a successful St. Louis bankruptcy!! But you are with an attorney who makes clear what all is needed (and keeps things organized for you), then you should be in good shape.

There are really three sets of documents that are necessary for a bankruptcy petition in Missouri: 1) information about your household income (for instance, the last six months of paystubs, profit/loss statements, and the most recently filed tax returns); 2) information about your personal and real property (houses, time shares, land, automobiles, motorcycles; bank accounts, furniture, appliances, clothes, etc.); and 3) information about your debts (credit cards, medical bills, payday loans, old utility bills, overdrawn bank accounts, etc.)

Continue reading →

Published on:

By

$675 FEES FOR A ST LOUIS CHAPTER 7

You won’t lose your assets if you make proper use of your available governmental exemptions within the federal bankruptcy code. Now if most of the preceding sentence didn’t make much sense to you, that is probably because you are not a St. Louis bankruptcy attorney!! But then that is why it’s so important to hire an experienced law firm to help you through the process (and ensure that you do not lose any assets in along the way.

$300 UPFRONT FEES FOR A ST LOUIS CHAPTER 13

When you file for bankruptcy, you have an obligation to make the court aware of all your possessions and property. In other words, you have to list out everything that you own. And no, the act of listing out everything that you own does not in turn mean that you have to give it all up to the court of bankruptcy trustee. It just means that the court will want to have an inventory of your belongings.

Continue reading →

Published on:

By

When this question is asked, most people are talking about a St. Louis Chapter 7 bankruptcy. This type of bankruptcy petition results in a discharge of your unsecured debts (such as credit cards, medical bills, payday loans, old utility bills, etc.). But in order to get into a Chapter 7, you first have to pass the “Means Test”.

ATTORNEY FEES FOR A ST LOUIS CHAPTER 7 START AT $675

What is the Means Test? It is calculation that was devised by the US Congress in 2005 to determine whether or not you are above or below the median income level for your particular sized household. More specifically, the calculation/test looks at your total household income over the previous six (6) months before filing a bankruptcy. If, based on the total household income over the previous six months, you are below the median, then you qualify for a Missouri Chapter 7.

That’s the short answer. But as you have probably already guessed, the Means Test is actually a very complex and involved set of calculations that can easily result in mistakes (unless of course you are a trained attorney with several years of experience completing the test!!)

Continue reading →

Published on:

By

ST LOUIS CHAPTER 7:  $675    ST LOUIS CHAPTER 13:  $300 upfront

The Bankruptcy Trustee is one of the main players in the bankruptcy process. He or she is charged with the duty of determining whether or not you have any assets that can be liquidated. A few common examples of an asset that can be liquidated are a bank account that has a lot of money in it on the date of filing (usually in the neighborhood of several thousands of dollars), or if you have a vehicle that is paid in full (with no loan against it) that your attorney cannot fully exempt, or if you have recently been awarded a judgement in which you receiving a large amount in damages (like a personal injury suit).

Continue reading →

Published on:

By

Unfortunately, no. The current rules in the bankruptcy courts state that student loans (although unsecured debt) cannot be discharged. However, there are a few options that are available through the courts system to give you some relief.

ST LOUIS CHAPTER 7 BANKRUPTCY FEES START AT $675

Let’s say you have tens of thousands in student loans. Let’s further assume that each one of those lenders is wanting you to pay several hundred per month in a repayment plan. And after you take a look at your finances and budget, you realize very quickly that you cannot afford these payments at all. You have already gone through all the deferments that the government will allow, and the student loan companies are not willing to grant you a hardship to reduce the total amount owed.

Continue reading →

Published on:

By

Filing a St. Louis bankruptcy does not automatically mean that you will lose your assets, like a car or house. In fact, it is the number goal at The Bankruptcy Company to make sure that you keep all of your belongings (whether it is personal or real property).

The state of Missouri allows a St. Louis bankruptcy attorney to use what are called “exemptions”. Exemptions are legal tools to keep your property safe. So for instance, let’s say you have a 2011 Honda Accord with a loan balance of $10,000. And let us assume that the value of this vehicle is $13,000. On paper, your car has equity of $3,000 (13,000 – 10,000 = 3,000). But the exemption for a car in Missouri is $3,000 for an individual (and $6,000 for a joint married couple). So in the example provided, the $3,000 of equity is eliminated by the exemption for $3,000. This in turn will keep your car safe and in your hands.

In terms of real estate, Missouri allows for a $15,000 exemption in your residence. So if your home has equity of up to $15,000, this exemption will protect your house. For household goods, the state exemption is $3,000 for an individual (and $6,000 for a joint married couple). There are also exemptions for things like jewelry, clothes, 401K, books and artwork, etc.

Continue reading →
Published on:

By

When you file a St. Louis bankruptcy, your unsecured debts (like credit cards, medical bills, payday loans, old utility bills, overdrawn bank accounts) are eliminated forever.

This means you will no longer have to put up with the following:

= no more angry phone calls from debt collectors

Continue reading →
By
Posted in: Uncategorized
Published on:
Updated:
Published on:

By

Filing a St. Louis bankruptcy can help in a number of different ways:

1) It will get rid of all your unsecured debts (like credit cards, medical bills, payday loans, old utility bills, overdrawn bank accounts, etc)

2) It will stop any St. Louis wage garnishments that might be attached to your paychecks 3) It will unfreeze any bank levies on your checking accounts 4) It will put an end to any lawsuits that have been filed against you by one of your creditors 5) It will prevent collection agencies from harassing you day and night with phone calls 6) It will wipe clean your record of debts so that you can concentrate on rebuilding your credit score 7) It will give you a fresh start / clean slate so that you can move forward with life

Continue reading →
By
Posted in: Uncategorized
Published on:
Updated:
Published on:

By

When you file a St. Louis bankruptcy, you assets are protected in two primary ways:

1) The filing of a St. Louis bankruptcy creates an “Automatic Stay” which puts an immediate stop to all creditor activity. This would include things like threatening phone calls and nasty letters. But it also includes putting an end to wage garnishments, bank levies, and lawsuits filed against you. In addition, the automatic stay halts a creditor’s efforts to foreclose on your house, or to repossess your car.

2) The state of Missouri allows certain legal exemptions that can be applied to your property and assets. This in turn adds another level of safety. An experienced St. Louis bankruptcy attorney can use these exemptions on specific assets so that neither the Bankruptcy Trustee nor your creditors can get their hands on them.

Continue reading →
By
Posted in: Uncategorized
Published on:
Updated:
Contact Information
St. Louis, MO
By Appointment Only
4625 Lindell Blvd
St. Louis, MO 63108
 Phone: (314) 932-1067
 Fax: (314) 596-4331
USE OF THE WEBSITE DOES NO CONSTITUTE LEGAL ADVICE OR FORM AN ATTORNEY/CLIENT RELATIONSHIP
We are a Debt Relief Agency under the United States Bankruptcy Code. We help people file for bankruptcy relief under the Bankruptcy Code.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Please do not include any confidential or sensitive information in a contact form, text message, or voicemail. The contact form sends information by non-encrypted email, which is not secure. Submitting a contact form, sending a text message, making a phone call, or leaving a voicemail does not create an attorney-client relationship.

Copyright © 2024, The Bankruptcy Company
JUSTIA Law Firm Blog Design