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Teague & Associates, LLC
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Archive: Mar 2017

  1. Your Options to Stop Repossession with a Bankruptcy Lawyer in Maryland Heights

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    Having your home forclosed on or vehicle repossessed due to lack of payment can be a devastating experience that no one wants to have. There are a number of different steps you can take, however, to keep this from happening. First, you need to stop repossession with a bankruptcy lawyer in Maryland Heights. This type of attorney is well-versed in all areas of repossession and bankruptcy and will offer valuable advice on the best course of action to take for your specific situation. Contrary to what many people may think they know about bankruptcy, if you have the proper legal advice you can navigate filing for bankruptcy with many options available to you. To make the best of a tough situation, let an experienced bankruptcy attorney learn the details of your situation so you can get sound advice on the best way to work on getting out of repossession.

    Possible recommendations from a bankruptcy attorney regarding repossession of your home may include:

    • Filing Chapter 7 or Chapter 13 bankruptcy.
    • Paying the amount of the mortgage arrears in full.
    • Paying the amount of the mortgage arrears in a prescribed payment plan.
    • Paying as much of the mortgage as you can each month.
    • Selling your house as quickly as possible and buying another that is less expensive.
    • Selling your home and renting it back.
    • Refinancing with an interest-only mortgage or release some of your equity to pay the amount in arrears.
    • Paying off your mortgage debt and selling your property with a real estate agent.

    The recommendations for a vehicle that you are behind on payments typically follow much the same path.

    Consult the professionals at Teague & Associates, LLC to gain important information and guidance about how to stop repossession with a bankruptcy lawyer in Maryland Heights. Call us today at (314)899-4499 to schedule a consultation to discuss your case. Our experience and expertise can help you save your property from being taken from you.

     

  2. Stop Garnishment with a Bankruptcy Lawyer in St. Louis

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    If you receive a notification of wage garnishment, it is possible to save some or all of your income by utilizing exemptions. In order to stop your garnishment with a bankruptcy lawyer in St. Louis, contact Teague Law Associates today and we can help.

    As a general rule, creditors must sue you in court and retain a money judgment against you in order to take all or part of your income. The creditor then forwards the documentation to your employer that dictates the specific amount to be deducted from your wages (or take away all of your wages). Immediate action must be initiated to prevent the garnishment from taking place.

    An exemption protects your wages by stopping the creditor(s) from taking away certain types of income so that you can continue to pay standard living expenses. Your particular situation dictates what income is safe. Most of the time, the income that cannot be garnished includes: retirement, social security, disability, alimony and child support.

    To take advantage of Missouri’s laws for exemption you must file a document in the court that has issued the garnishment order. A hearing is then typically scheduled so that a judge can hear your claim for exemption.

    To learn more about your legal rights concerning your wages and the most effective ways to protect them, stop garnishment with a bankruptcy lawyer in St. Louis. Teague & Associates, LLC is well-equipped to work with you to keep your income safe from creditors. Call us today at (314)899-4499 for a private consultation to discuss your unique situation.

  3. 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.

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