Do You Need Bankruptcy Help in St. Louis?

People who are dealing with too much debt often feel stressed and out of control. This is especially true when you have threats of wage garnishment and court. If you have more debt than you can handle, there are options for getting out. One of your options is Bankruptcy Help St. Louis. Bankruptcy can allow you to overcome the debts you owe and get them paid down, so you can be free. If you are considering bankruptcy, this information will help you know what to expect.

There are two main options when you Need Help for Bankruptcy St. Louis. Chapter 7 and Chapter 13 both offer different types of help, but both assist you in overcoming the debts you owe.

* Chapter 7 bankruptcy is the fastest option for getting Bankruptcy Help St. Louis. You simply provide information on all of the debts you owe, your income and your assets. You are required to surrender any assets outside of your residential home, car, clothing and furniture. These assets are all sold through liquidation, so your debts can be paid down. The process for Chapter 7 bankruptcy is overseen by a third-party mediator. This process typically takes around six months or less. Through the mediator, your debts will be paid off or absolved, so you can be completely free of them.

* Chapter 13 takes longer to go through, but it is a good option for those who do not want to have to liquidate their assets. All you have to do, is list all of the debts you owe, no matter how small or large they are. The period for Chapter 13 ranges from two to five years. The amount of time you are given to pay down your debts will depend on how much you owe and your monthly income. You will pay a monthly payment to the court each month, this is distributed to your creditors, so your debts are paid down by the time the bankruptcy period is over.

If you are struggling with the amount of debt you owe, contact the Law Offices of Steven K. Brown St. Louis. He and his team will give you information on all of your options for filing for bankruptcy, so you can make an informed decision. Visit domain URL for more information.