People who are struggling financially in Missouri know that filing for Chapter 7 bankruptcy is a potential option for relief. However, many St. Louis residents hesitate to pursue bankruptcy because they do not know what to expect from the bankruptcy process. The truth is that there is no reason to fear the bankruptcy process and that experienced bankruptcy attorney Kenneth Carp can help you through every step of the process. What follows here is a brief overview of the steps in a bankruptcy in Missouri.
Prior to Bankruptcy
In accordance with federal law, you must attend a credit counseling course in order to qualify for bankruptcy, with limited exceptions. You must attend a course approved by the United States Bankruptcy Trustee in Missouri, who provides a list online.
Completing and filing forms
Bankruptcy requires several complicated and lengthy forms that you must file. Examples of forms include a petition, the means test, forms detailing all of your financial information, and more. Filling out these forms completely and accurately is vital to qualifying for Chapter 7 bankruptcy, so you should not attempt to complete them on your own. An experienced St. Louis bankruptcy lawyer can help make sure all forms are completed correctly.
Additionally, these forms must be filed with the appropriate court in accordance with that courts rules. If your forms are filed incorrectly, your bankruptcy may be significantly delayed or even completely thrown out. It is highly important to have an attorney who is familiar with St. Louis court procedures and rules.
Federal and state laws provide exemptions that allow you to keep certain property or assets in your Chapter 7 bankruptcy, and you always want to apply exemptions in the most beneficial way possible in order to keep the most property possible. Exemptions may include equity in homes or cars, personal possessions, insurance policies, and more. A bankruptcy lawyer can help make sure you use exemptions to your maximum advantage.
These are only a few of the required steps in a Chapter 7 bankruptcy. If you have an experienced attorney handling your case, you have no reason to be wary of the process. At the Law Offices of Kenneth P. Carp, we are committed to helping St. Louis residents with their financial problems, so call us today at 636-947-3600 for help.