Category : Missouri

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 […]

How Creditors Repossess Property

Bankruptcy, debt collection, Missouri, St. Charles, St. Louis

Creditors have many ways to collect on debts. People are most familiar with debt collectors calling or sending collection letters to try to collect on loans or debts. Even though this is the most common way to collect debt, debt collectors have other ways to get repaid. One common method is to repossess property used […]

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 […]

When An Automatic Stay Is Lifted

Bankruptcy, debt collection, Missouri

An automatic stay stops most collection efforts on your debts during bankruptcy. It is often a welcome relief for people who have been dealing with creditors for a time. The injunction prohibits creditors from repossessing any properties, initiating or continuing any foreclosures, collection phone calls, collection letters, disconnection of utilities, bank levies, liens and wage […]

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 […]

Reaffirmation Of A Debt

Bankruptcy, debt collection, Missouri

An agreement between a creditor and a debtor agreeing to be liable and continue to pay money owed even after a bankruptcy proceeding has concluded is known as reaffirmation. Usually, you do not want to reaffirm an old debt, especially in bankruptcy. Despite this, creditors encourage reaffirmation before and during a bankruptcy because they know […]

Handling Debt Collector Calls

debt collection, Missouri

As a consumer, it is important to stay calm if a debt collector calls. You have many ways to handle the calls, including asking them to stop contacting you. The Fair Debt Collection Practices Act (FDCPA) makes it illegal for collectors harass, oppress or abuse you or anyone else they call about a debt. When […]

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 […]

State Statute of Limitations for Old Debts

debt collection, Missouri

Once a debt surpasses the statute of limitations in Missouri, a debt collector loses the right to sue you for payment. Any debt collector threatening to sue you beyond that statute of limitation has violated the Fair Debt Collection Practices Act. Although you may still have a moral obligation to pay off the debt, you […]

Where Customer Data Goes In Bankruptcy

Bankruptcy, Missouri

Over the years some companies thrive, while others that may have once thrived, fail. Some failing companies declare bankruptcy as a means to close up their company. Don’t be too quick to think this doesn’t affect you, as their customer. It is important to be an informed consumer and understand what happens to your customer data in such […]