Bankruptcy

Bankruptcy

When you have a financial emergency, your future hangs in the balance. Efficient legal expertise is key.

Turn to St. Louis Law, P.A. for timely, knowledgeable guidance during this stressful time. Our team will listen and work to fully understand your situation. In most Chapter 7 cases, the debtor has large credit card debt and other unsecured bills and very few assets. In the vast majority of cases a Chapter 7 bankruptcy is able to completely eliminate all of these debts. Certain debts cannot be discharged in a Chapter 7 bankruptcy, such as alimony, child support, fraudulent debts, certain taxes, student loans, etc.

You may keep certain secured debts such as your car or your furniture or house by reaffirming those debts. To do so, you must sign a voluntary “Reaffirmation Agreement”. If you decide that you want to keep your house or your car, and you reaffirm the debt, you cannot bankrupt (or wipe-out) that debt again for eight years. You will still owe that debt and you must continue to pay it just as you were obligated to continue to pay it before you filed bankruptcy. In order to reaffirm the debt, you must also bring it current. In other words, if you are three or four months behind, then you must pay the back payments which are due in order to reaffirm it. Thanks to our experience and know-how, we can help you with your Chapter 7 filing.

Your bankruptcy filing doesn’t stand alone – it’s just one part of your financial roadmap. We can also advise you on issues that often accompany bankruptcy. These include:

  • Wage garnishment
  • Foreclosure
  • Repossession

Your actions today can impact your family for decades to come. Make sure you’re making informed decisions. Contact St. Louis Law, P.A. for your free consultation.