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When a person files Chapter 13 bankruptcy, the trustee will examine their debts for what is known as “priority debt.” These are debts which, by law, cannot be reduced in bankruptcy. They include:
Under Chapter 13 bankruptcy, you and your St. Louis Chapter 13 Bankruptcy Attorney will set up a repayment plan that lasts between 3-5 years. During that time, you will make payments to the bankruptcy trustee who will disperse that amount in pro rata shares to your creditors. But many people wonder: what happens when this […]
Young people have been hit with a double whammy: increased student loans and a rough job market. This has made it extremely difficult, if not impossible, for these young people to begin paying down their student loans. Many of these young adults are beginning to examine whether bankruptcy can give them a fresh start form […]