You must first determine whether you qualify to file for Chapter 13 bankruptcy in Missouri or Illinois. During a free consultation, a bankruptcy attorney in St. Louis, Missouri or Belleville, Illinois may be able to tell you if you are eligible for bankruptcy, but it is best to be prepared beforehand.
What requirements must be met to be eligible to file? - Your unsecured debts (credit card balances, medical expenses, etc.) cannot exceed $336,900. - Your secured debts, such as your auto loan or mortgage, must be less than $1,010,650. - If your previous bankruptcy case was dismissed for failure to appear in court or comply with court orders, you are typically required to wait 180 days before filing again. - Before registering your case, you must first receive credit counseling and then submit your certificate to the court. - Chapter 13 bankruptcy cannot be filed by a business. It must be a specific person. - You must have a consistent income that exceeds your reasonable costs of living.
Sounds simple enough, eh? Filing for bankruptcy without the assistance of a bankruptcy counsel in St. Louis, Missouri, or Belleville, Illinois, can be a challenging endeavor. Making sure you have credit counseling, determining if you have enough income, and totaling your obligations is a lot of work and can easily bewilder someone who lacks bankruptcy experience.
You can undoubtedly file for bankruptcy on your own, but you must conduct extensive research to ensure that you are aware of every potential obstacle that may arise. Determining eligibility is only the beginning of a lengthy list of Chapter 13 rules you must observe.
If you choose to file with a bankruptcy attorney in Missouri or Illinois, you may find that it saves you money, time, and stress. Before deciding that Chapter 13 bankruptcy in Missouri or Illinois is the best option for you, be sure to educate yourself on the benefits of this form of bankruptcy.
Begin your education by requesting free information from reputable local bankruptcy attorneys. While the majority of attorneys offer free consultations, the best ones also provide articles, blogs, and bankruptcy FAQs that answer the most difficult inquiries.
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