Have your debts been turned over to a collect agency? If so, have they been calling your phone off the hook? Or sending you endless letters demanding money you don’t have? Perhaps you are being sued for breach of contract on a debt that you owe? Or has a judgment already been rendered in favor of the creditor, and now they are garnishing your wages (or levying your bank accounts)?
Only $300 Upfront Fees for a Rock Hill Mo Chapter 13If this is the type of situation you are currently dealing with, then it is a good time to start thinking about a St Louis bankruptcy!! There are two main chapters one may file: Chapter 7, and Chapter 13.
There are a lot of similarities between the two chapters, but as with everything in life, it is the differences that matter most.
For example, a St Louis Chapter 13 is a repayment plan (over the course of three to five years) during which certain debts are paid back. These debts would include: overdue mortgage payments (so as to prevent a foreclosure); car loans (but using a much lower rate of interest than most people are currently under); recent tax debt (because there is a chance we might be able to get older tax obligations discharged); and back child support (so that the local prosecutor does not bring charges against you for non-support).
This is to be contrasted with a Ch7, which is described as a discharge of your unsecured debts (such as credit cards, medical bills, payday loans, etc.). And if you have assets (such as motor vehicles and real estate), you may keep these items, so long as there is not a great deal of equity.
So how do you know which chapter is right for you?? By giving us a call and setting up a free consultation! We will answer all your questions, describe your range of options, and get you the “fresh start / clean slate” you deserve!!
The affordable St. Louis bankruptcy attorneys at The Bankruptcy Company have been saving and protecting people’s assets for years. Our goal is to make sure that you keep the assets and property you want, discharge the debts that you want to get rid of, and do it all at an affordable cost to you. All phone conversations and office consultations are free of charge.