It is my job to know whether a Chapter 7 or a Chapter 13 is the better option for my clients. The questions that I ask at the initial consultation asked to make this determination. Most clients want to file a Chapter 7, but that is not always the best option for them. Each case […]

You may be asking yourself, “Why do I need to hire an attorney to file bankruptcy?” You may also think, “I’ve done some research and I’ve seen the forms to fill out. It seems simple enough.” The answer is: Bankruptcy isn’t as easy as a process as you may think. Time and again, we have […]

What will bankruptcy do to my credit? This is probably the question most often asked by our clients and potential clients when they are considering bankruptcy. While each client will have a different experience based on their individual circumstances, the question to the answer remains the same. It is absolutely possible to rebuild your credit […]

This question has to be one of the most frequent questions I hear as a bankruptcy attorney. Most people believe that if they file a bankruptcy they are going to lose everything, including their vehicle. That, in most cases, is just simply not true. In Missouri, you can protect up to $3,000 in vehicle equity […]

If you are considering filing a Chapter 7 or Chapter 13 bankruptcy it is important to be able to classify your debts as secured and unsecured. These debts are treated very differently in both Chapter 7 bankruptcies and Chapter 13 bankruptcies. If you file a Chapter 7 the unsecured debts will be discharged in the […]

If you decide to come in and speak with an attorney regarding a bankruptcy filing it is likely that the attorney will ask you how many children you have living with you that are under 21. These children that are living with you that you are helping take care of are your dependents and will […]

A common concern for debtors that are considering filing for bankruptcy is whether or not they are going to lose their vehicle if they file a bankruptcy. The answer to this question depends on several factors so it would be in your best interest, if this is a concern of yours, to consult a bankruptcy […]

Payday loans, or paycheck advances, are high interest rate loans designed to help the borrower receive some quick cash to help any financial burdens until they receive their next paycheck. Since these payday loans have such a high interest rate, they become very devastating to borrowers. If borrowers are relying heavily on these loans, their […]

A common misconception of filing a Chapter 7 bankruptcy and surrendering your house, or “walking away” from it, is that once your case is filed you no longer are responsible for taking care of that property. That simply is not the case. Until the bank actually comes in and forecloses on the property you remain […]

A Tenancy by the Entirety (TBE) is a form of property ownership in Missouri, and a few other states, reserved for married couples. Missouri recognizes TBE ownership in both real and personal property. Property owned as tenants by the entirety belongs to the marriage, which means that both husband and wife own the property as […]

The short answer is no…you do not have to surrender your home if you file for bankruptcy. If you are having financial trouble and problems making your ongoing mortgage payment, I would first recommend contacting your lender and trying to modify your mortgage. Some lenders will work with you, but if they are not willing […]

When it comes to bankruptcy, the primary source of law is the Bankruptcy Code (Title 11 of the United States Code). Title 11 of the United States Code provides a comprehensive overview of all the substantive laws dealing with bankruptcy. Title (11) is broken down into 9 Chapters, 28 subchapters and 1,532 sections. […]

Yes, you can file bankruptcy multiple times. In fact, there is no limit to the number of times that you can file. However, if you have received a discharge in a previous case, a certain amount of time must pass before you can receive a discharge again. The amount of time that must elapse […]

Most of us have heard of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. This Act was both recent and had a major impact on bankruptcy laws as we knew them. However, there is quite a bit of important legislature that led us to where we currently are. In 1979 the […]

After extensive investigations and negotiation, 49 state attorney generals, in conjunction with the federal government, have finally reached an agreement with the five chief mortgage loan servicers in the U.S. J.P. Morgan Chase, Bank of America, Citigroup, Wells Fargo and Ally Financial, formerly known as GMAC Mortgage have agreed to a $25 billion mortgage […]

Bible and Bankruptcy, Part 1 by Bankruptcy Attorney in St. Louis Tobias Licker What does the Bible tell us about bankruptcy? The authors of the Bible didn’t know about Chapter 7 and Chapter 13, however, the question what happens if a debtor cannot afford to pay back his debt is older than currency itself. One […]