Deciding to file bankruptcy is a big decision that many people struggle with for months upon months. They often explore every option possible to avoid bankruptcy. For some people, however, Chapter 7 or Chapter 13 bankruptcy is the best decision for them and their family. If you are considering bankruptcy, contact an attorney to learn […]
How Do I Know It Is Time To Consider Bankruptcy? Read More »
For some debtors, Chapter 13 bankruptcy is a better option than Chapter 7. In Chapter 13, a debtor repays a portion of their debts over a period of time (typically 3-5 years) and in exchange they get to keep all their assets. For homeowners and other people with significant assets, this can be a major
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When a person has fallen behind on their bills, their credit score will ultimately take a major hit. This causes people to worry that they won’t be able to get a car, a mortgage, and other expenditures that require a decent credit score. In their haste, they turn a “credit repair company” that claims they
Many people deep in debt wonder what their life will be like after filing Chapter 7 bankruptcy. They may be afraid that they will be left penniless, unable to afford even the most basic things in life. They worry that they situation will be far worse after filing. The reality, however, is much different. For
When a person files Chapter 7 bankruptcy, one thing the court will look it is whether or not the debtor made a good faith effort to repay their debt. In other words, did they honestly intend to pay back the debt and make a real effort to do so. If the court finds that a
While everyone’s case is different, there are some common reasons that people tend to file bankruptcy. Far from simply being irresponsible or people who can’t manage money, they are actually good people who simply fell on bad times. The majority of bankruptcy filers simply hit a rough patch and fell behind on their bills. They
As we shop for our loved ones this holiday seasons, it is important for families not to go overboard. We all want to buy lavish gifts to show our loved ones just how much they mean to us, but it is important to keep a budget and stick to it. There is no reason to
Some people are worried that, when they file Chapter 7 bankruptcy, they will lose many of their most important assets. The truth is that most of the cases handled by a St. Charles Chapter 7 Lawyer are actually “no asset bankruptcies,” meaning that the trustee does not actually liquidate any assets at all. After the
No Asset Bankruptcy Explained by a St. Charles Chapter 7 Lawyer Read More »
For those deep in credit card debt, compound interest is the reason it takes so long to pay off that balance. Compound interest is essentially “interest on interest,” meaning that you will pay interest charges on accrued interest. This might not sound daunting, but it makes it much more difficult to pay off this balance.
One common myth that seems to prevent people from seeking help from a bankruptcy lawyer is that their employer will fire them for filing. There seems to be a belief that employers will learn of the bankruptcy and automatically fire the employee for being untrustworthy or poor with money. The reality is an employer cannot
People with credit card debt may have seen ads for credit repair companies, promising to help them rebuild their credit score. For someone whose credit score has been ravaged by miss payments, defaults, or a bankruptcy, this sounds very appealing. Consumers should be wary, however, about promises that sound too good to be true. As
Can a Credit Repair Company Help Rebuild my Credit? Read More »
It may sound strange, but bankruptcy may actually be the first step towards a lasting path for success. Some people view bankruptcy as a failure. They think it is a sign of failure that they will never recover from. But the reality is that many successful people have used bankruptcy to get their finances in
We are a debt relief agency. We help people file for bankruptcy relief under
the Bankruptcy Code.
