Our law office specializes in Chapter 7 Bankruptcy & Chapter 13 Bankruptcy. For almost 40 years, we have been providing Hope of Financial Freedom to those under a financial burden of Debt and Creditors.
Our office is now offering services to those that may be entitled to more relief from a Personal Injury or Wrongful Death case helping people file Tort Victims Compensation Claims. Contact our office today to see if you qualify.
Our law office specializes in Chapter 7 & Chapter 13 Bankruptcies. For almost 40 years, we have been providing Hope of Financial Freedom to those under a financial burden of Debt and Creditors.
What is the difference between Chapter 7 and Chapter 13 Bankruptcy?
A Chapter 7 bankruptcy is known as a "clean start" bankruptcy. It allows you to discharge most of your debts, while keeping your exempt property. No monthly payments are required. Chapter 13 is known as a wage earner's plan. It is an alternative to a Chapter 7. Chapter 13 involves making payments on your debts over 60 months; in return, you are allowed to keep most, if not all, of your property. At the conclusion of the payments, your unsecured debts are discharged; your secured debts, if still unpaid are not discharged. You must have regular income to file a Chapter 13.
How do I determine whether to file Chapter 7 or Chapter 13?
Although there are many considerations as to whether to file under one or the other chapters, your eligibility to file chapter 7 is controlled by a median income test, means (income) test and a totality of the circumstances test. Generally, if your household income falls below the median income for your state, then you may file chapter 7. Even if it does not you may still qualify but only after analysis of your household income and living expenses. Unfortunately, the criteria mandated by the new bankruptcy law is so involved that any further discussion of the test is not possible here. Normally you should file Chapter 7 unless you have a lot of valuable unsecured or non-mortgaged property that you wish to keep. Chapter 13 is especially helpful if you have in excess of $15,000.00 in equity in your home and you wish to keep it.
We know what you’re going through after an accident or injury that wasn’t your fault. Whether you suffered injuries in an auto accident or were hurt on the job, we want to help you get the compensation you deserve. We are ready to help you get the best possible results for your claim.
Helping those individuals who have been injured by the negligence or recklessness of another and whose personal injury claim has been inadequately compensated.
Call our office to schedule your appointment to see if you qualify for more compensation from your original claim.
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We love our clients, so feel free to visit during normal business hours.
144 Walker Drive, Farmington, Missouri 63640, United States
08:00 am – 05:00 pm
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