Dardenne Prairie Bankruptcy Attorney

Resolving Debt in a Timely Manner

When you are struggling to pay off car payments, credit card payments, or other bills, it is easy to fall into a downward spiral of debt. Hundreds of thousands of people fall into overwhelming debt each and every year and have no hope of escape, but there have been specific laws created to help people who are in these situations. Instead of being in debt for the rest of your life, you can discharge your debt and move forward with your future with the help of a Dardenne Prairie bankruptcy lawyer.

When you enlist the help of a legal professional at Adams Law Group, you can have hope for the future knowing that you have experienced and knowledgeable help on your side. Our bankruptcy attorneys are passionate about helping people resolve their financial problems and burdens, and we devote time and attention to every client and their needs. We understand that bankruptcy can seem frightening, but you must keep in mind that there are several different debt relief methods available to you! With more than 35 years of experience on our side, we are confident that we have the legal tools and resources to guide you to a favorable outcome!

Understanding Bankruptcy in Dardenne Prairie

Bankruptcy can effectively discharge your debt, put an end to creditor harassment, foreclosure, wage garnishments, repossession and more. In order to take maximum advantage of bankruptcy and the benefits it offers, you must take the time to evaluate your situation, your individual debts and your specific needs. Bankruptcy holds the promise of new opportunity, but you must take the right steps to ensure that your debts will be discharged. With the help and guidance of a Dardenne Prairie bankruptcy lawyer at Adams Law Group, you can take the right steps and find the best solution for you and your loved ones.

There are two main types of bankruptcy that the majority of our clients file for: Chapter 7 and Chapter 11. Chapter 7 bankruptcy, also known as consumer or personal bankruptcy is usually the quickest type of bankruptcy. During a Chapter 7 bankruptcy, a bankruptcy trustee will sell the debtors non-exempt property and use the proceeds to pay off certain debts. There are some types of debt that cannot be discharged through a Chapter 7 bankruptcy, including child support, alimony, student loans, criminal fines, and divorce property settlements. Additionally, in order to qualify for a Chapter 7 bankruptcy, you must pass a means test. The means test was designed to keep high-income households and individuals from abusing the debt relief available through Chapter 7 bankruptcy, and a lawyer from our firm can help you determine if you qualify.

Whereas a Chapter 7 bankruptcy allows you to discharge your non-secured debts completely, a Chapter 13 bankruptcy reorganizes a portion of your debt into a repayment plan. Under a Chapter 13, Missouri residents with a regular source of income can get court approval to partially or fully repay debts over a three-to-five year period. There is a cap on how much debt you can have to participate in Chapter 13, so call Adams Law Group today to learn if you qualify.