Many individuals consider filing for bankruptcy an unsavory last resort – preferring, rather, to battle endlessly in the face of mounting debt. Unfortunately, this becomes an endless spiral. However, the Bankruptcy Code was designed to give hardworking Americans a...
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Bankruptcy
Trucking company files Chapter 7 bankruptcy
Many Missouri business owners are currently struggling to overcome serious financial problems. It is an issue to which a small trucking company in another state can relate, as its owners have recently decided to take advantage of a Chapter 7 bankruptcy to help resolve...
Issues that often lead to bankruptcy in Missouri
If Missouri residents were to take a survey about finances, most would undoubtedly say they have experienced financial challenges at some point in their lives. Both chronic and acute situations can cause financial distress. Sometimes, minor banking adjustments or...
What should you expect from the Chapter 7 bankruptcy process?
Making the choice to file for Chapter 7 bankruptcy is not easy. If you are making this decision, it is likely because you are dealing with certain types of debt you can no longer manage on your own. While this step may not be your first choice, it is a way you can...
Will J.C. Penney retiree’s lose money due to bankruptcy?
In Missouri and across the country, many department store moguls are closing their doors due to economic crises. For many business owners, filing for bankruptcy is a valuable tool that can help eliminate debt while laying the groundwork for a stronger financial...
What property is exempt under Chapter 7 Bankruptcy?
Bankruptcy is one of the strongest tools the law gives individuals and companies to protect themselves. Many people find that they simply cannot meet their monthly payments, and bankruptcy can offer a path to financial freedom.For a long time, public opinion looked...
How does bankruptcy handle personal loans?
Money can cause a range of feelings in different people. Some may feel that the amount of money they have means that they are successful, and others may not feel that money is the most important thing in the world. Still, if Missouri residents are struggling with...
How much home equity can you protect in a Missouri bankruptcy?
Chapter 7 bankruptcy is the most aggressive and widely known form of individual bankruptcy. In Chapter 7 bankruptcy, an individual must meet certain income limitations and agree to allow the courts to liquidate some of their assets as part of the bankruptcy process....
The role of the bankruptcy trustee
Pursuing personal bankruptcy can provide a Missourian with the fresh financial start he or she needs and deserves by discharging many debts. However, in order to succeed on a bankruptcy petition, an individual has to closely follow the law. This requires a thorough...
How will bankruptcy impact your financial plans?
Chapter 13 Bankruptcy is one way for Missouri residents to get control over their finances. However, if people are not careful, the holiday season can overwhelm debtors once again. Understanding the limitations of a financial situation is very important to remain...