Bankruptcy is not an easy thing to go through. Nobody likes the idea of dealing with their legitimate debts or taking a credit hit, but sometimes there are no alternatives when a bad situation does not get any better. More and more people have faced foreclosures, job losses and the loss of unemployment benefits as the economy remains in a state of recession. As a result more people than ever before have been forced to make the difficult decision to walk away from their debts and try to get their lives back on track the best they can by hiring a Bankruptcy Attorney in St. Charles MO.
If you’re ready to talk about bankruptcy, then you need to speak with a qualified bankruptcy attorney about your options. Bankruptcy is a complex issue and there are a lot of rules, norms and facts you need to understand before they can even begin the process. For example, many people are under the misconception that the term bankruptcy is a term that means you can eliminate all your debts and start over. This is partially true.
You can start all over again, but that doesn’t mean you can wipe out all your debts. Some things like student loans, IRS debts, alimony and child support cannot be erased regardless of your inability to pay. Anything that is not included in your bankruptcy, like forgotten medical accounts, etc. will not be deleted if they are not included in the court papers. This is why you need to ensure that each claim has is in the court papers. This is where your Bankruptcy Attorney in St. Charles MO can be invaluable to help you understand exactly what you can and cannot declare.
Since bankruptcy is done at the federal level and not the state, it can be a complex process to wade through. It’s inadvisable to try to declare bankruptcy even without the guidance of legal counsel. A Bankruptcy Attorney in St. Charles MO can help you prepare by including a list of your assets and debts and showing proof of income and inability to pay your bills. Debtors have the right to come to court and fight bankruptcy. So a lawyer is a necessary expense of the process. For more information contact Van Dillen and Flood today.
