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2678 Babble Creek, P.O. Box 310, O'Fallon, MO 63366
636-614-1771 636-614-1771

Learn About Bankruptcy 13 in O’fallon, MO

Chapter 13 bankruptcy is a means of reorganizing debt to pay off all or part of it over three to five years.  This option is only available to individuals or sole proprietors, not corporations or partnerships. Many people choose Chapter 13 to pay off mortgages and avoid foreclosure on their homes.  Others explore this option because they have debts such as back taxes or child support, which cannot be forgiven with a filing of Chapter 7 bankruptcy, or because their your income is too high to qualify for Chapter 7 in O’Fallon, MO.


A Chapter 13 bankruptcy case begins with the filing of a petition accompanied by a payment plan proposing how you will pay off your debts in three to five years.  An experienced attorney can help you develop a realistic plan that meets all legal qualifications.  A bankruptcy trustee is appointed by the court and reviews the plan.  The plan is also distributed to your creditors, who may object to the plan if they think it is unreasonable.

You are responsible for making monthly payments to the bankruptcy trustee if the proposed payment plan is approved.   The trustee pays your creditors according to the guidelines set out in the plan.  You can keep your assets during this period of time without being subject to harassment from your creditors and, if the approved plan is completed within the set amount of time, your remaining debts are discharged.  You would still be responsible for any debts for crimes, accidents involving drunk driving, and most student loans, which cannot be discharged with Chapter 13.


If you are considering filing Chapter 13 in O’Fallon, MO, it is important to consult a qualified attorney immediately.  An experienced attorney can help you go over your finances and explain all of your options.  When you face foreclosure or other financial hardship, consult the bankruptcy attorneys in O’Fallon, MO at Blackwell & Associates, P.C.  We can help you through each step of the process to work through this difficult period and help secure your financial future.

Contact the Missouri law firm of Blackwell & Associates or call 1-866-476-0168 to learn how legal experience can help you work out your business or personal bankruptcy issues.

The choice of a lawyer is an important decision and should not be based solely upon advertisements.