Getting a Second Chance with Individual Chapter 7 Bankruptcy in Missouri
Experienced bankruptcy help in St. Charles, St. Peters & O’ Fallon and surrounding areas
If you are overwhelmed by credit card bills, medical expenses, tax debt or other debts, Chapter 7 bankruptcy offers you a chance to wipe the slate clean by discharging your debts. This is a liquidating bankruptcy, formerly called straight bankruptcy. Its principal advantage is that you come out without any future personal obligations for your discharged debts.
A skilled bankruptcy lawyer can make a tremendous difference in navigating each step of filing for bankruptcy in Missouri. Chapter 7 bankruptcy guidance from the law firm of Serall Chezem is backed by more than 23 years of experience.
How to determine if you are eligible for Chapter 7 bankruptcy
Your income level determines your eligibility to file for Chapter 7 bankruptcy. If your current monthly income is less than the state median, you are eligible. If it is more, you need to take the bankruptcy means test to determine whether you can file for Chapter 7 bankruptcy or should consider Chapter 11 or Chapter 13 bankruptcy. If your debts are primarily business obligations, then you may be exempt from the means test.
Chapter 7 bankruptcy may be right for you if you:
- Have overextended credit or are burdened by bills and other unsecured debt
- Do not own significant equity in assets such as a house or a car
- Are suffering from creditor harassment
- Are facing wage garnishment and other harsh creditor actions
- Have IRS debt
What happens after filing for bankruptcy?
Once your case is filed all creditor harassment, garnishments and actions must stop. Chapter 7 bankruptcy allows you to protect most, if not all of your personal property, including household items, Social Security benefits and possibly even your house and your car. Filing for bankruptcy does not lead to the permanent ruin of your credit, as many people fear.
To fully understand what you can expect when filing Chapter 7 bankruptcy in Missouri, turn to Serall Chezem for her in-depth knowledge of bankruptcy laws and proceedings. Serall Chezem will help you determine whether bankruptcy may be right for your financial situation.
For a free information sheet regarding Chapter 7 Bankruptcy please contact me (or Alex should we put it online here)
Schedule a free consultation with knowledgeable Missouri Chapter 7 bankruptcy attorney today to take the first step to financial freedom
If you are considering filing for Chapter 7 bankruptcy, we can help. Let us guide you through the practical steps to get a fresh financial start. Call us at (314) 374-6715 or contact Serall Chezem Online today to schedule a free, private and confidential consultation. Evening and weekend appointments are available.