Top bankruptcy lawyers in Missouri
Why do I need a bankruptcy attorney in St. Charles, Missouri?
If you are struggling financially, you might need to file for bankruptcy. When all other avenues have failed, bankruptcy is the last resort for people to get a fresh start.
St. Charles bankruptcy attorneys can help you out of this situation. They will evaluate your situation, and then they will help you navigate the process of bankruptcy. You will need to start by determining if it is really the right move for you.
Then, the attorney will help you fill out the paperwork and go to court with you to represent your interests. While nobody wants to go through this process, you can feel confident that with a good lawyer on your side, you will land on your feet after this.
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When you’re in debt, it’s difficult to focus on anything else. But there are steps that you can take to get out of debt – even if your credit is damaged or your income has been cut off completely! Call our St. Charles bankruptcy attorneys at Westbrook Law Group to find out how to escape the shackles of debt and get relief in Missouri.
How many times can I file for bankruptcy?
You may file for bankruptcy protection as many times as necessary during your lifetime. There is no limit on the number of times you may file, however there are time limits between each filing.
In some instances, you may apply for bankruptcy but receive no debt discharge, so you must exercise caution.
Depending on the Chapter you file under, the U.S. Bankruptcy Code establishes the deadlines. The clock begins when you filed your prior bankruptcy petition (not the date of the bankruptcy discharge or bankruptcy stay). These time limits apply exclusively to bankruptcies in which a debt discharge was granted.
Options for Chapter to Chapter
Wait Time Between Bankruptcy Filings
- Chapter 7 bankruptcy to Chapter 7 bankruptcy 8 years
- Chapter 7 filing for Chapter 13 bankruptcy at present 4 years
- Chapter 13 filing Chapter 7 bankruptcy now 6 years
- Chapter 13 to a second Chapter 13 filing 2 years
The wait durations assist avoid credit card debt that cannot be repaid and system misuse. Between filings, you are supposed to make every attempt to pay off your bankruptcy.
Can a bankruptcy attorney expedite my bankruptcy filing?
A bankruptcy attorney cannot help you circumvent the time constraints. Still, they may be able to assist you in filing a different type of bankruptcy than the one you previously filed and confirm the earliest possible filing date for your second case. This is particularly true if you filed for Chapter 7 bankruptcy but were not discharged. Only a bankruptcy attorney can provide you with legal advice regarding the timing of your second bankruptcy filing. They can also assist you in obtaining a court order to prevent your automatic stay from expiring before your release is granted.
Categories of Missouri Bankruptcy
Missouri Bankruptcy Exemptions
Regardless of the form of bankruptcy you file, you will be required to learn about Missouri’s bankruptcy exemptions. An exemption allows you to shield a specific asset from creditors, such as your home or vehicle. In Chapter 7 bankruptcy, exempt assets will not be liquidated to repay creditors. In Chapter 13, exempt property will not be factored into your repayment plan.
Missouri has formed its own exemptions list, opting out of the federal list. We examine some of its most important bankruptcy exemptions below.
Your Residence,
Numerous individuals contemplating filing for bankruptcy in Missouri, hesitate out of fear of losing their home. The homestead exemption, however, permits you to exclude up to $15,000 in home equity or $5,000 in mobile home equity from taxation.
Your Automobile
Similarly, you can exempt a portion of your vehicle’s equity under Missouri’s bankruptcy regulations. In this situation, you may exclude up to $3,000 in expenses.
Your Uniqueness
This exemption is known as a “wildcard” since it can be used for almost anything. You can exclude up to $600 of the value of a collection of rare coins or a family heirloom. In addition, you can deduct around $350 per child, and if you are the head of your home, you can deduct an additional amount of about $1,250.
The Missouri Means Test for Bankruptcies
Call Our St. Charles Bankruptcy Attorneys now!
There is no reason to lay awake at night tossing and turning, wondering how you are going to carry on under burdensome debt obligations. Contact our Troy or St Charles bankruptcy lawyer’s offices today for a free confidential financial evaluation. To help our clients rebuild credit after bankruptcy, we offer 720 Credit Score‘s credit program to all our clients free of charge!
Still not convinced? Read through our client testimonials or our reviews on Google to see how our top-notch financial lawyers helped residents of Missouri get out of debt. You can also learn more by reading our blog, bankruptcy FAQs, and other resources. Learn how to maintain your financial freedom after getting out of debt by creating a budget in 6 easy steps. And we serve people throughout Missouri, including Lincoln County, Cole County, and Boone County.
