Category : Chapter 7

Understanding Reaffirmation Agreements

Bankruptcy, Chapter 7, Missouri, MO, St. Charles, St. Louis

A reaffirmation agreement in bankruptcy is a voluntary agreement between a chapter 7 debtor and a creditor that the debt between them will not be discharged. By reaffirming a debt, the debtor promises to repay the debt even though they would not be required to do so and the creditor agrees not to take actions […]

Understanding The Bankruptcy Means Test

Bankruptcy, Chapter 13, Chapter 7, means test

If you are just exploring bankruptcy options, you may be overwhelmed by information and not even be able to determine if you can or should file for Chapter 7 bankruptcy or Chapter 13. To file for Chapter 7 bankruptcy, you must pass a means test. Many think that a means test will automatically force them […]

Should I File For Bankruptcy Or Divorce First?

Bankruptcy, Chapter 13, Chapter 7, divorce

Many people may be lead to filing for bankruptcy because of a divorce or impending divorce. However, they may not consider if it is more beneficial to file for bankruptcy or divorce first. By taking some steps to plan your actions, you may be able to make your bankruptcy and possibly your divorce less complicated. […]

What To Expect For Bankruptcy Filing Fees

Bankruptcy, Chapter 13, Chapter 7

Many people worry that even if they want to file for bankruptcy, there is no way they can afford to. While there are bankruptcy filing fees and other fees associated with bankruptcy, but there are ways to work with the courts to make it possible should you choose that path. There is usually a filing fee […]

Rebuilding Your Credit After Bankruptcy

Bankruptcy, Chapter 13, Chapter 7, Missouri

After you’ve filed for bankruptcy and finished the process, you can start to look toward the future. You need to take steps to rebuilding your credit. Although it may be difficult, it is not impossible. It may be like getting your first job in some ways. Although you had no experience, you finally did get […]

Nondischargeable Debts

Bankruptcy, Chapter 13, Chapter 7, Missouri

Although many debts are dischargeable when a person files bankruptcy, the U.S. Bankruptcy Code lists many debts that remain nondischargeable debts. These debts either come from improper behavior of some type or are nondischargeable because of the nature of the debt. In very rare cases, these debts may be dischargeable. However in most cases, a […]

Understanding Discharge In Bankruptcy

Bankruptcy, Chapter 7, debt collection, Missouri

If you are considering bankruptcy, you should learn as much as you can before beginning the process in order to make an informed decision. A key reason many seek out bankruptcy, is to discharge any outstanding debts they may carry. When you file a chapter 7 petition, the goal is to discharge most of the […]

Should I Reaffirm Debt in Chapter 7?

Bankruptcy, Chapter 7

One question many people have regarding Chapter 7 bankruptcy is about reaffirming debt. When a person has an asset that they would otherwise lose, they may be tempted to reaffirm the debt in order to keep this particular asset. In general, this is a decision that should be very carefully considered. There is no single […]

Is my Bankruptcy a No Asset Bankruptcy?

Chapter 7, St. Charles, St. Louis

One concern people have when filing bankruptcy is that, after filing, they will have no money left to start a new life. In reality, most people who file Chapter 7 bankruptcy wind up filing what are known as “no asset” cases, meaning they pay back nothing. After applying the Missouri bankruptcy exemptions, it may be […]

How Long Will it Take to Repair My Credit After Bankruptcy?

Bankruptcy, Chapter 7, St. Louis

Most people are well aware that filing bankruptcy will cause them to take a hit on their credit score. They know that it may be difficult to get credit cards and other loans for a period, but they wonder how long it will take to get their credit score back to normal. The answer depends […]