When the bills begin to pile up, and the collectors are ringing your phone off the hook, and you are barely able to stay on top of your necessities (like food, gas, and housing expenses) because your creditors are hounding you for money, it may be a good idea to look into a St. Louis bankruptcy. Such a filing will eliminate all of your unsecured debts (like credit cards, medical bills, and payday loans; but other items as well, such as deficiencies from a car repossession, home foreclosure, bank overdraft, and old utility bills) in a St. Louis Chapter 7 bankruptcy. And it will take all of your secured obligations (like tax debt, back child support, car loans, and the amount you have fallen behind on your mortgage) and consolidate them into one, easy monthly payment in a St. Louis Chapter 13 bankruptcy.
Only $300 in Upfront Attorney Fees for a Chapter 13Either way, the goal of a St. Louis bankruptcy is to provide you with a “fresh start / clean slate”. It is a chance to move forward with life, and achieve all the financial goals you may have (like for instance rebuilding your credit score and/or rating). Achieving this goal is a lot easier than you may think. For instance, most people are in a very good position to purchase real estate within one to two years after filing a Missouri Chapter 7 bankruptcy.
There are many other benefits of filing a St. Louis bankruptcy as well. When you file a Missouri Chapter 13 bankruptcy, you have an opportunity to get rid of a second mortgage; there is an opportunity to push the amount that you owe on your car loan down to the actual value of the automobile; there the opportunity to adjust the interest rate of your secured debts down to a more manageable percentage; and you can still (in some circumstances) get your unsecured debts discharged. And because the Chapter 13 is a repayment plan (with monthly, methodical payments being distributed to the creditors listed on your plan), your credit score will improve dramatically over the next three (3) to five (5) years, which will give you a significant jump on rebuilding your credit rating.
In addition, a St. Louis bankruptcy will put an end to things like wage garnishments, bank levies, home foreclosures, car repossessions, judicial liens, and any lawsuits that may be filed against you. The affordable St. Louis bankruptcy attorneys at The Bankruptcy Company have been helping people get back on their financial feet for over ten (10) years. Our goal is to make sure you are put in the best position possible moving forward. That begins with a free consultation to discuss your options, and answer all of your questions. Contact us today to learn more!