Enlist the Help of a Chapter 7 Bankruptcy Lawyer in Florissant

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Filing bankruptcy is usually a difficult decision to make. Sometimes, though, it is the best option for your unique financial situation. A discharge of your debts can provide a clean slate. The advice and counsel of an experienced Chapter 7 bankruptcy lawyer in Florissant can ease the potential complications of the process.

In order to file bankruptcy, you must present a petition in bankruptcy court in your local area. Additional financial documentation is also required and includes your assets, liabilities, income, debts and most recent tax return. In some cases, you may qualify for exempt property. Your attorney is the best source for this information. You may also be asked to supply proof of credit counseling. Fees must be paid to the court upon filing and vary according to location.

The trustee assigned to your case will meet with you and your creditors to answer questions regarding your financial status. During this meeting, you will be advised of the consequences of bankruptcy. Your trustee will then report results to the court. When bankruptcy commences, the “estate” becomes the owner of all of your property and it is liquidated to pay as many of your debts as possible.

Having your bankruptcy discharged will relieve you of personal liability for the majority of your debts and prevents creditors from engaging a collection agency for lack of payment. Not included are child support, alimony, some taxes and debts from criminal activity.

To make certain that you know exactly how bankruptcy can benefit you, call a Chapter 7 bankruptcy lawyer in Florissant at Teague & Associates, LLC at (314)899-4499.