Due to job loss, illness or injury, someone’s income can be dramatically decreased. Unfortunately, the bills that were due before the problem occurred can rapidly start mounting. Chapter 7 St. Louis MO bankruptcy can eliminate this debt so the individual can obtain a fresh start. Being is debt is one of the most stressful things that can occur in someone’s life. When the bill collector’s begin calling repeatedly throughout the day and night, all an individual may want to do is change their phone number. The only problem with attempting this is they won’t have the proper credit to establish a new telephone number.
Chapter 7 St. Louis MO bankruptcy is determined by an individual’s income. Whether the debt is large or small will not matter with this type of bankruptcy. Many of the unsecured debts will be eliminated when the bankruptcy is discharged. There are certain debts that will not be eliminated such as child support, alimony, student loans and certain taxes. Criminal restitution and DUI payments are non-dischargeable as well. A bankruptcy attorney can review the financial situation of a financial situation with the individual and make a determination of the situation.
A bankruptcy attorney offers a free consultation to discuss Chapter 7 in St. Louis MO bankruptcy. This will give someone a better understanding of their eligibility without using any resources to obtain the legal advice they need. Bankruptcy can stop wage garnishments, creditor harassment, home foreclosures and repossession of someone’s property. It will also give them a clean start with their debt problems. During an initial consultation, an attorney will review any other options that are available to someone that is unable to pay the debt that’s accumulated.
If an individual has a job but their debt is beyond their payment ability, an attorney may recommend Chapter 13 bankruptcy. This type of bankruptcy permits an individual to keep the items they own and restructure their debt. There is a re-payment plan established that will last from 3-5 years. When the debt has gotten beyond unobtainable payment levels, seek the assistance of a bankruptcy attorney. Van Dillen & Flood P.C. have years of experience representing clients in bankruptcy cases.
