The means test is a calculation that helps determine if you qualify for a Chapter 7 bankruptcy. Essentially, it aims to verify if your income is low enough to be eligible for debt discharge, which is the elimination of your legal obligations to repay your debts....
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Chapter 7 Bankruptcy
Can I file for bankruptcy more than once?
When financial troubles resurface after a previous bankruptcy, you might wonder if there is still hope for a fresh start. Can you file for bankruptcy for a second, third or even fourth time? Filing for bankruptcy multiple times is a topic that deserves careful...
Debunking common myths about Chapter 7 bankruptcy
There is much misinformation surrounding Chapter 7 bankruptcy. Below are two of them – and the truth behind these myths. Myth 1 – You will lose all your assets One of the biggest misconceptions is that you will lose everything you own. In reality, Chapter 7 bankruptcy...
What are automatic stays in Chapter 7 bankruptcy?
When you face overwhelming debt, filing for Chapter 7 bankruptcy can feel like a lifeline. The automatic stay is one of the most immediate and powerful benefits of this process. It is essential to understand what this means for you and how it can provide much-needed...
Looking to file for Chapter 7 bankruptcy? Make sure you’re eligible
Bankruptcy can be a challenging and confusing process for many people. If you're considering filing for Chapter 7 bankruptcy in Missouri, it is important to be aware of the requirements you may have to fulfill. Understanding the requirements can help you move forward...
Is a Chapter 7 bankruptcy the best option for your financial problems?
There are numerous big-ticket purchases you may have to make throughout your life. It may be a car, a house, a major vacation, jewelry, and real estate, among others. You may also need to pay for a wedding or invest in an income-generating venture. Ideally, you may...
Filing Chapter 7 bankruptcy, then buying a home
Many people in Missouri and elsewhere have been hit hard by financial crisis in recent years. Financial problems are not isolated among a specific age group or lifestyle. Thankfully, the Chapter 7 bankruptcy program exists to help those who qualify discharge their...
Using Chapter 7 bankruptcy as a financial tool
Feeling crushed under the weight of a financial crisis is a burden facing many Missouri residents, as well as thousands of others throughout the country. Some people have lost their jobs, while others have been hit with unexpected medical bills, car repairs and other...
A look at the Chapter 7 bankruptcy process
It has been a tough couple of years financially for many people in Missouri and across the country. In some cases, individuals have determined that the most viable option available to them to get things back on track is to wipe the slate clean and start fresh. Chapter...
What happens to personal property during Chapter 7 bankruptcy?
There are many reasons why you may feel hesitation regarding bankruptcy protection. Filing for Chapter 7 bankruptcy can be a daunting decision, even if you are struggling with overwhelming debt. One of the reasons you may be reluctant to move forward with this step is...