Waiting period for bankruptcy discharge. A debtor can obtain a discharge of debt by filing for bankruptcy. A discharge of debt releases the individual’s personal liability for many types of debts. A discharge prevents creditors from making any collections efforts upon the debtor including phone calls, letters, and threats. Many types of unsecured debt can be discharged, including [...]
Missouri Bankruptcy Laws
A Brief Overview of Nondischargable Chapter 7 Bankruptcy Debts
by
This article considers some of the debts that cannot be discharged by filing for Chapter 7 bankruptcy protection. It also provides a brief explanation why you may not discharge these debts during the bankruptcy process. Many debtors think that all of their debts can be discharged by filing for Chapter 7 bankruptcy. This assertion is [...]
Chapter 7 Bankruptcy: What Property Will I Have to Turn Over if I File?
by
What Property Will I Have to Turn Over if I File For Chapter 7 Bankruptcy Relief? When people consider Chapter 7 bankruptcy relief as a potential solution to their debt problems, one of the most common concerns is: “what property will I have to turn over?” This is a valid concern. In the context [...]
Bankruptcy Car Exemption in Missouri
by
Can you keep your car and file for bankruptcy in Missouri? Missouri bankruptcy laws currently allow debtors to protect up to $3,000 of equity in a car. Equity can be calculated by subtracting the amount of any car loan from the appraised value of the car. If this number is at $3,000 or below, your [...]
Missouri Homestead Exemption In Bankruptcy
by
What Happens to My Home in Missouri if I File Chapter 7 Bankruptcy? Can you keep your home and file for bankruptcy in Missouri? The answer will depend on home equity. Missouri bankruptcy laws allow debtors to protect up to $15,000 of equity in a home. Joint debtors may not double the exemption. In chapter [...]
Follow Us