Resolve Financial Issues with a Chapter 7 Bankruptcy Attorney in FlorissantComments Off on Resolve Financial Issues with a Chapter 7 Bankruptcy Attorney in Florissant
Accumulating excess debt can be overwhelming and upsetting. Unanticipated expenses for healthcare, loss of income, a failed business venture and more can cause financial obligations to rise quickly without the means to pay them. When this issue becomes too much to manage successfully, it may be necessary to file bankruptcy. Consulting a professional Chapter 7 bankruptcy attorney in Florissant can give you peace of mind and some welcome guidance on the best way to proceed.
Filing Chapter 7 bankruptcy is typically a good option when the following situations can be met:
- It is not an option to file Chapter 13 bankruptcy. Chapter 13 is for those with higher incomes, a mortgage or other secured debts and are able to create a satisfactory repayment plan.
- You have few or no assets or secured debts. There are some exemptions for property that you can keep, including personal items, clothing, household items and some cash.
- You have debts that are eligible to be discharged.
- You want to free yourself from your debt problems in a timely manner. Chapter 13 can take from 3-5 years, whereas Chapter 7 can often be completed within a few months.
Bankruptcy as a debt relief solution can be a tricky position to navigate but with the proper guidance, it can be handled with professionalism and integrity. If you are considering whether bankruptcy might be the most appropriate option for your unique financial situation, call Teague & Associates, LLC to schedule a consultation. Speak with a Chapter 7 bankruptcy attorney in Florissant by phoning (314)899-4499.