Are You In Need of Finding a St. Louis Chapter 7 Bankruptcy Lawyer?Comments Off on Are You In Need of Finding a St. Louis Chapter 7 Bankruptcy Lawyer?
Finding the right chapter 7 bankruptcy lawyer in St. Louis can be challenging, especially while you are working to stabilize your personal finances. Fortunately, there is a law firm that you can turn to when garnishments, repossessions, and foreclosures threaten your financial freedom – Teague & Associates. Our chapter 7 bankruptcy lawyers will help you navigate this complex process and come out on the other side with a personalized debt solution.
In essence, a chapter 7 bankruptcy is a personal liquidation of assets that is used to pay back creditors. Though similar in its goals, it differs from chapter 13 bankruptcy in its emphasis on selling assets, rather than reorganizing debt. Once the professionals at Teague & Associates understand your goals and finances, they will be able to decide which bankruptcy option would be best for you.
That being said, you won’t lose all of your critical possessions if you file for chapter 7 bankruptcy. Often, chapter 7 cases are provided an upper threshold for asset sale value, allowing filers to maintain items such as their home. Though federal and state exemption lists differ, they typically include categories for a motor vehicle, a homestead (or home equity), and medical aides (the latter of which is usually fully exempt from sale).
There’s even more to know about chapter 7 bankruptcy, though. The qualified attorneys at Teague & Associates are ready to walk you through this process and answer any questions regarding the details of your upcoming chapter 7 bankruptcy filing.
When it comes to finding the right local chapter 7 bankruptcy lawyer in St. Louis, Teague & Associates should be your go-to option. Call us now at 314-899-4499 to schedule your first consultation.