What Bankruptcy Really Does to Your Credit Report
As bankruptcy attorneys in St. Louis, we often encounter potential clients who are very nervous about declaring bankruptcy. They’ve been told for years that they’ll “never be able to get credit ever again.” But nothing could be further from the truth. You’ll be surprised to learn what really happens to your credit report after your…Read More
8 Signs It’s Time to File Bankruptcy
Filing for bankruptcy is a big decision. How do you know it’s right for you? Found On This Page: Chances are, bankruptcy is right for you if you meet any of the following criteria.#1) Using credit cards to pay for necessities.#2) Using credit cards to pay other debts.#3) You’re relying on payday loans.#4) You’re making…Read More
Can You File Chapter 7 With No Money?
If you’re filing Chapter 7 money is no doubt a huge stress for you. Being told you’re going to have to pay an attorney and filing fees can be overwhelming when you’re already in a state of financial distress. And it’s not like you can take out even more credit to pay for the…Read More
Are Collection Agents Allowed to Text and Email?
The traditional image of a collection agent has them hounding you over the phone. Calling at home. Calling at work. What you may not know is they can text you and email you, too. Found On This Page: The FDCPA has not changed with the times.The Consumer Finance Protection Bureau is trying to…Read More
ABI Report May Bring Hope for St. Louis Student Borrowers
Up until recently, student loan debt was on the short list of debts you could almost never discharge through bankruptcy. It wasn’t impossible, but neither was it easy. Borrowers had to prove they’d face “undue hardship”, which was determined under the “Brunner Test.” The Brunner Test has three prongs: Whether forcing you to pay the…Read More
Is it a Good Idea to “Settle” Your Debt?
They really make it look or sound like they’re doing you a favor. Maybe you get a letter in the mail. “For a limited time only, we’ll give you this special offer! We’ll accept $238 on your debt of $304.79, and then we’ll consider it paid in full!” Sometimes you get the offer over the…Read More
How Bankruptcy Impacts Cosigners in Saint Louis
If anyone you love cosigned on a loan so you could get a house, buy a car, rent an apartment or make some other purchase it’s important to know exactly how bankruptcy could impact them. And once they’re on, while it’s not impossible to get them off the loan, it can be very hard. Many…Read More
Why a DIY Bankruptcy is a Bad Idea
The Internet is usually a wonderful resource, but sometimes it doesn’t do people any favors. It has, for example, convinced people who are already scared and in a state of financial distress to save some money by attempting to represent themselves in bankruptcy cases (the legal term is ‘filing pro se’). And this has done…Read More
5 Bankruptcy Myths You Should Stop Believing Right Now
Every year, millions of Americans file for bankruptcy protection. Despite the fact that it’s fairly common, dozens of myths still exist about this legal financial solution. In part, we can thank credit card companies for that. They have a vested interest in keeping people out of bankruptcy and so just love to spread disinformation about…Read More
Missouri Bankruptcy: How Are Secured and Unsecured Debts Different?
When you file for Missouri bankruptcy it is important to know the difference between secured and unsecured debts. These types of consumer debt are treated very differently during a Missouri bankruptcy and your decision to file for Chapter 7 or Chapter 13 bankruptcy could depend solely on how your debts are classified. As well, creditors…Read More