Are creditors calling your home and work every day, demanding payment? Have you been threatened with wage garnishment or with being taken to court? Unfortunately, millions of Americans are dealing with this same type of situation and are finding it difficult to overcome their debt. There are many reasons people get in over their heads with debt. Whether you made poor financial decisions, experienced the loss of a job or had an illness or injury strike, there is help to be found. Through a Bankruptcy Lawyer in St. Charles MO, you can learn about your options for filing for bankruptcy, so you can finally be free of your debt once and for all.
There are two types of bankruptcies you are allowed to file as an individual. The first type is chapter 13. In this type of bankruptcy, you are allowed to keep all of your assets, but you must make a payment to the court each month. The payment amount you are required to make will depend on the amount of debt you owe and the amount of income you have coming in each month. The amount you pay is dispersed among the creditors you owe, so your debts can be paid off within a period of two to five years, depending on how long your bankruptcy is decreed.
A Best Bankruptcy Lawyer in St. Charles MO can also offer you the option of chapter 7 bankruptcy. In this type, any assets outside of your essentials, are auctioned and sold for payment to your creditors. You are allowed to keep your residential home, car, furniture and clothing. A trustee is placed in charge over your bankruptcy and this person will work with your creditors and the liquidation of your assets, to ensure your debts are cleared. This is the fastest bankruptcy option, only taking around six months to be completed.
If you are in need of help from a Bankruptcy Lawyer in St. Charles MO, contact the Law Offices of Steven K. Brown St. Charles MO. He can take a look at the debts you owe and your financial situation, to help you determine which bankruptcy option will best help your situation. Browse website for more information.
