Being in debt is stressful. It interferes with the ability to keep a clear mind at work and offers little sleep at night. Fortunately, there is an answer when all other avenues have been exhausted, Chapter 7 bankruptcy.
There is a stigma with declaring bankruptcy these days, but sometimes it is the only alternative to losing everything. Chapter 7 St. Louis allows a debtor to walk away from almost all unsecured debt. Some examples are credit cards, personal loans, medical bills, payday loans and civil judgments. The debts which cannot be discharged through bankruptcy are government student loans, tax debt, alimony, and child support payments. In most cases, debtors will be able to keep their homes and cars, as well as most personal belongings.
Contacting the Law Offices of Steven K. Brown is a step in the right direction to once again have financial freedom. A bankruptcy attorney advises clients of their rights under the law as well as explaining possibilities of receiving a clean slate on allowable debts. Each client should fully understand the consequences of declaring a chapter 7 bankruptcy before proceeding. Since most clients already have a negative credit score, this can be looked upon as a chance to start over and increase it again.
A case number is assigned for each client. When harassing phone calls from creditors are received, the client simply gives the case number with instruction to contact the bankruptcy attorney from that point on. At this point, no more payments should be made to the creditors. The attorney will request financial statements, overdue bills, and past tax returns to determine qualification for a chapter 7 bankruptcy. Once it has been determined that bankruptcy is an option, the petition is filed with the courts. Each bankruptcy client attends a 341 meeting of the creditors. A trustee will be there to mediate, and the attorney is also present for the client’s legal protection. The meeting is a final opportunity for the creditors to appear and ask the debtor questions related to the debt they owe. Everyone who files a chapter 7 bankruptcy must attend the meeting. In most cases, very few creditors, if any, take a time to attend.
Within a few months, the bankruptcy will be discharged. Visit the website if you are ready to head on the path to financial recovery. Having the right attorney for Chapter 7 St. Louis will assure a smooth process.