Before a person will be allowed to file Chapter 7 or Chapter 13 bankruptcy, they are required to undergo a credit counseling session to learn what to expect in bankruptcy. It also will explain other options that may exist and help a person determine if bankruptcy is the right option for them. While this may sound like a long, difficult process, it is actually quite simple. It typically takes between 60-90 minutes and costs around $50 (it may be free, however, depending on your earnings) and can be done online. A St. Louis Bankruptcy Attorney can help you through this process.
St. Louis Bankruptcy Attorney on Bankruptcy Reform
This credit counseling became mandatory in the 2005 bankruptcy reforms. These reforms, ostensibly enacted to prevent bankruptcy abuse, were an attempt to make it more difficult for a person to file bankruptcy and help creditors recover more money. Among the reforms were:
- A means test to determine Chapter 7 eligibility
- Longer waiting periods between Chapter 7 filings
- Changes to which exemptions a bankruptcy filer can use
While these changes made it somewhat more difficult for people to file bankruptcy, an experienced St. Louis Bankruptcy Attorney can still help you get the fresh start that bankruptcy brings. While there are stricter requirements than before this reform, options still exist to help people deal with unmanageable debt.
If you have questions about bankruptcy, contact a St. Louis Bankruptcy Attorney at The Westbrook Law Group. During your free initial consultation, this office will work to learn your particular debt problems and work to find solutions. Whether it is Chapter 7 or Chapter 13, we will work to give you a fresh start free of debt while helping you keep as many assets as possible. If you are tired of being harassed by creditors, contact us today to learn your options under the law.