Webb City, Neosho, and Joplin Bankruptcy Debt Relief Attorneys
Chapter 7 is the most common form of bankruptcy protection. It is often referred to as "liquidation" bankruptcy, since your assets can be taken by the bankruptcy trustee and sold to pay your creditors. In practice, most people who file Chapter 7 bankruptcy keep most or all of their assets due to bankruptcy exemptions.
The lawyers of Checkett & Pauly, P.C., help individuals and business owners in Carthage, Webb City, Joplin, Nevada, Neosho, and other communities throughout southwest Missouri file Chapter 7 bankruptcy. We offer a free initial consultation for consumer bankruptcies to discuss your financial situation and determine if Chapter 7 or Chapter 13 bankruptcy is right for you.
What Are Bankruptcy Exemptions?
In Missouri, you can keep your 401(k) account, pension, IRA, up to $3,000 in a car, up to $15,000 equity in your homestead, up to $1,500 in a wedding ring and up to $3,000 in household goods.
Before you file bankruptcy, you should discuss your assets with an experienced lawyer. If you have assets that you would lose by filing Chapter 7 bankruptcy, you may be able to keep those assets by filing Chapter 13 bankruptcy.
What Will Chapter 7 Bankruptcy Do for Me?
Filing Chapter 7 bankruptcy allows you to get rid of debts such as credit card bills, unsecured loans and hospital bills. Filing Chapter 7 bankruptcy will also put an immediate stop to creditor harassment, wage garnishments, home foreclosure and other adverse creditor actions.
Am I Eligible to File Chapter 7 Bankruptcy?
You can file Chapter 7 bankruptcy if you pass the means test, which measures your ability to pay back your debts. If your earnings are too high, you may need to file Chapter 13 bankruptcy instead of Chapter 7. Our lawyers will walk you through the steps during your free consultation.
Free Chapter 7 Consumer Bankruptcy Consultation
To discuss your bankruptcy needs with our Carthage Chapter 7 bankruptcy attorneys, call 866-451-8303 or fill out the contact form on this website.
We are a debt relief agency. We have helped help people file for bankruptcy relief under the Bankruptcy Code since 1977.
