Bankruptcy in Saint Charles and Nearby Communities
We Are A Debt Relief Agency, Assisting People In Filing For Relief Under The Bankruptcy Code
Life circumstances such as illness, injury, divorce, or job loss can set off a series of events which make it impossible to manage a growing number of bills. People often find themselves in too much debt through no fault of their own; and yet they still must find a way to get a fresh financial start so they can rebuild their lives.
Business bankruptcies present challenges different from personal bankruptcies, but the Saint Charles bankruptcy law firm of Blackwell & Associates stand ready to help with both.
Following the change in the U.S. Bankruptcy code in 2005, people often assume that it’s extremely difficult to get a consumer bankruptcy that allows for all or most debts to be discharged. However, Blackwell & Associates lawyers will help dispel some of these misconceptions and explain the available options if you need to file bankruptcy in Saint Charles, MO, or anywhere in the Eastern District of Missouri.
FILING BANKRUPTCY IN SAINT CHARLES
Filing Chapter 7 Bankruptcy
Chapter 7 bankruptcy offers a relatively simple and efficient means of procuring a new financial start. In this form of bankruptcy—referred to as “liquidation”—a court-appointed trustee gathers and sells your non-exempt property to pay off creditors.
There are several benefits to filing Chapter 7 bankruptcy:
- Immediate protection from collection agencies
- Wages earned and property acquired after filing belong to the individual
- Process typically is completed in 3-6 months
Chapter 7 bankruptcy help and advice is available to individuals, couples, and various businesses in the Eastern District of Missouri.
Business Chapter 11 Bankruptcy
Chapter 11 bankruptcy in Saint Charles area can help businesses solve their financial problems and make accommodations to resume profitable operations:
- Restructure debt
- Reorganize internal business structure
- Legally abandon burdensome leases and contracts
Chapter 11 bankruptcy allows individuals or business entities to continue to operate their businesses while creating a plan to pay back creditors. Creditors vote on a plan that, once agreed upon, dictates how debts will be treated during the duration of the plan.
Chapter 13 Bankruptcy
Filing Chapter 13 provides valuable financial options for residents of Saint Charles and throughout the Eastern District of Missouri with advanced debtor problems. A Chapter 13 bankruptcy agreement requires the debtor to figure out a repayment plan with creditors and grants 3-5 years to pay off debts from future income.
There are several benefits for individuals filing bankruptcy under Chapter 13:
- Preventing home foreclosure
- Making up missed loan or mortgage payments
- Paying back taxes
- Preventing interest accrual on tax debt
- Keeping non-exempt property
Chapter 13 bankruptcy gives debtors financial options and adequate time to get out from under the burden of their debt. Blackwell & Associates, P.C., helps clients explore their options for filing Chapter 13 in Saint Charles, Missouri, and surrounding communities.
Contact the St. Charles-area bankruptcy law firm of Blackwell & Associates or call 1-866-476-0168 to learn more about filing business or personal bankruptcy in Saint Charles and the Eastern District of Missouri.
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