St. Louis Bankruptcy Lawyer

    • St. Charles & St. Louis Residents: Should You File Chapter 7 or Chapter 13?

      St. Charles & St. Louis Residents: Should You File Chapter 7 or Chapter 13? Once you have made the decision to file for bankruptcy sometimes the hardest decision is whether you should file Chapter 7 or Chapter 13. The goal of this article is to make this decision easier for you. We will outline the pros and cons of both Chapter 7 and Chapter 13 to help you make a well-inform ...

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  • Will I Lose Everything I Own in a Chapter 7 Bankruptcy?

    … loss of assets. Bankruptcy will, however, result in a negative mark on your credit report for a number of years, which can result in higher interest rates or an inability to obtain financing. That said, for many people who are struggling with debt, filing for bankruptcy is clearly the best option. Chapter 7 can eliminate many different types of debt…

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  • The Missouri Chapter 7 Means Test

    … If you are contemplating filing for bankruptcy, the Missouri Chapter 7 means test may come into play in order to determine your eligibility. Bankruptcy incorporates federal law and state law—both of which can be very complex. If you are contemplating filing a Chapter 7 bankruptcy, you need an attorney on your side who knows and understands…

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  • Declaring Bankruptcy in Wage Garnishment Cases

    … debts over a three- to five-year period. Contact a Missouri Bankruptcy Lawyer Today for an Initial Consultation An experienced lawyer can help you determine whether declaring bankruptcy is your best option in a wage garnishment case. To schedule a free consultation with a St. Charles or St. Louis bankruptcy lawyer, please call us or contact us online. The post Declaring Bankruptcy in Wage Garnishment Cases appeared first on The Law Offices of Kenneth P. Carp. …

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  • Chapter 7 Bankruptcy: Eligibility and Procedure

    … by a court-appointed bankruptcy trustee. The trustee ensures that the bankruptcy estate is properly managed and that creditors are paid. Consult a St. Louis and St. Charles Bankruptcy Attorney Today Do not allow the social stigma of filing for bankruptcy keep you from reasonably settling your debts. Here at the Law Offices of Kenneth P. Carp, we can help…

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  • What Happens to My Student Loans During Bankruptcy?

    … to be discharged during bankruptcy. In fact, federally funded student loans are almost always not dischargeable. Why cannot discharge my student loans in bankruptcy? A student borrowing federal funds is required to sign a promissory note prior to receiving his or her student loans. The promissory note, which often requires a cosigner, is an agreement to pay…

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  • What Will Happen to My House and Car If I File for Bankruptcy?

    …, to an extent. There are bankruptcy exemptions that can be used to protect the exempted amount from liquidation. In Missouri: The Homestead Exemption allows a debtor to protect up to $15,000 in equity in their home or land. (This is limited to $5,000 for mobile homes.) The motor vehicle exemption protects up to $3,000 in equity for vehicle equity…

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  • Will I Lose All of My Assets if I File for Chapter 7 Bankruptcy?

    …, it is certainly possible that some of your assets may be seized and sold by the bankruptcy trustee handling your case. The Missouri Bankruptcy Exemptions Are Generous There is an important word in material above – “nonexempt.” Bankruptcy law seeks to provide people who have gotten in over their heads financially a fresh start while being fair…

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  • 3 Things to Consider Before Filing for Bankruptcy

    …. Some examples of debts that can be eliminated in bankruptcy include the following: Medical expenses Credit card debt Utility payments Personal loans Business debts Most civil judgments Collection accounts Call a St. Louis Bankruptcy Attorney Today to Discuss Your Options If you are having trouble meeting your financial…

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  • FAQ Regarding Chapter 7 Bankruptcy in St. Louis

    … exemptions available under Missouri law, including those for your home, your vehicle, your bank accounts, and your personal belongings. Will I Be Able to Keep My Home? Whether or not you will be able to keep your home depends on the amount of equity you have in your home. Generally speaking, if your equity exceeds the amount of the exemption…

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