How to Protect Your Life Insurance When You Declare Bankruptcy
Life insurance is an important financial product. It helps you protect your family in the event of your death. For some, it also acts as a savings, investment, and retirement plan that may or may not pay out death benefits. If you have a life insurance policy you should make sure your bankruptcy lawyer knows…Read More
Can Bankruptcy Stop an Eviction in Missouri?
Are you considering bankruptcy because you’re behind on your rent? Few things are more stressful than knowing your financial problems could deprive you of a place to live. It’s important to understand the interaction between bankruptcy law and Missouri landlord-tenant law if you’re going to launch a strategy capable of helping you. Why are you…Read More
Missouri Residents: 3 Things to Remember When Debt Collectors Call
Few things are more stressful than hearing from debt collectors. They’re even trained to ramp up the stress, playing on your guilt, and shame about your financial situation to get whatever money they can get out of you. Past a certain point, paying debt collectors is rarely profitable, so you might opt to stop speaking…Read More
Is it Possible to Discharge IRS Debt in Bankruptcy?
The gig economy has led to a great many people who are forced to pay self-employment taxes. For many, this can result in significant tax debts well out of proportion with the income they receive, or their ability to pay taxes. The IRS will often work with taxpayers to create payment plans. This can be…Read More
Do Both Spouses Have to File Bankruptcy?
You may be surprised to learn that you and your spouse don’t have to file bankruptcy together. You can file two separate bankruptcy cases if you want to. You can file while your spouse stays out of the bankruptcy process altogether. Deciding which of these options is most advantageous means asking a few questions. What’s…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? Chances are, bankruptcy is right for you if you meet any of the following criteria. #1) Using credit cards to pay for necessities. If you’re doing this, you’re not alone. Most Americans do. But it’s not a good financial sign.…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
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
5 Signs St. Louis Bankruptcy Is Right for You
Filing for St. Louis bankruptcy is accompanied by positive changes. It opens the door to healthier financial habits and a clean slate, but there are also drawbacks. St. Louis bankruptcy will impact your credit score and make it difficult to receive financing or a loan in the months and years after discharge of Chapter 7…Read More