Are you receiving more bills than you have money to pay for? Are you getting collection calls and letters that are threatening to take you to court or garnish your wages? Unfortunately, many people are dealing with more debt than they can deal with. No matter what type of debts you have, there is help available. Through filing for Bankruptcy St. Charles MO, you can finally overcome all of your debt and get back on your feet financially.
When you see a lawyer about Bankruptcy St. Charles MO, you have the option of filing for two different types of bankruptcy. The type you decide on will depend on the type of debts you owe, how much money you make and your assets. Meeting with a bankruptcy lawyer will allow you to go over your options and find the one that will work for you.
Chapter 7 is typically the easiest bankruptcy type to file for. All you need to do is meet the qualification of the Mean’s Test. This test measures your income against the median income. As long as your income is not higher, you may be able to file. This will allow you to settle your debts through the help of a court-appointed trustee. The trustee will work to absolve your debts or sell off excess assets.
You also have the option of filing for Chapter 13. This option can help to save your home from foreclosure. It can also allow you to lower your monthly payments so you can afford to pay down your debts. You will typically be given two to five years to pay down your debts, depending on how much you owe and your monthly income. You are allowed to keep all of your assets.
It is important you meet with a lawyer as soon as you can so you can learn about your options and make a final decision on Bankruptcy St. Charles MO. Contact the Law Offices of Steven K. Brown so you can schedule a consultation appointment. They will help you learn about all of your options and will assist you in filing for the bankruptcy that will benefit your financial needs.
