Bankruptcy’s Automatic Stay

Bankruptcy’s Automatic Stay

Bankruptcy Attorneys in Sunset Hills, Missouri

If you are presently considering bankruptcy, it is best to consult with a trusted local attorney early on. Having to pay back credit card bills, medical bills, and personal loans is not easy. Trying to stop repossession, foreclosure, or even wage garnishment can also be quite a challenge.

 

Although a bankruptcy petition will stay on credit reports many years from filing, it is a feasible way of getting a fresh start in life . During such a difficult time in your life, it helps to speak to someone who is knowledgeable with all federal and state laws that must be taken into account.

 

Doyel Law specializes in the different types of bankruptcy filings and what filers can do to maximize their gain. Our dedicated and hands-on Missouri bankruptcy lawyer will gladly assist you with any legal matters concerning bankruptcies.

 

With years of experience helping Missouri homeowners struggling with debt, you can count on us to get the best results. Even if time is running out, we will find a way to save your home. Find out how by speaking with our bankruptcy lawyer in Sunset Hills, Missouri today. Contact us at 314-671-0959 or send us a message.

 

Seeking Legal Advice from an Established Law Firm

If you have plans of declaring bankruptcy, it is best to seek legal help early on. Aside from helping you fill out bankruptcy forms and prepare the necessary paperwork and supporting documents, a competent local attorney can comprehensively explain the entire bankruptcy process.

 

Discuss your finances and debt reorganization plans, if any. This is also a good chance to clarify what can be done to have certain types of debt forgiven, be allowed to repay secured and unsecured debts while retaining your assets, or both. Once a decision is made, a bankruptcy attorney will help document your eligibility to a bankruptcy trustee, who will then administer proceedings brought to court.

 

Formally submitting your bankruptcy petition is key if you wish to benefit from the automatic stay (and prevent lenders and debt collectors from contacting or harassing you). All these can be overwhelming, which is why getting reliable legal help is necessary. Additionally, your lawyer can help you go through the scheduled Meeting of Creditors and subsequent confirmation hearing.

 

Doyel Law offers robust bankruptcy strategies but also provides non-bankruptcy strategies and legal services to stop foreclosure and resolve other complex financial issues. Our seasoned Sunset Hills bankruptcy attorney is known for his dedication to achieving the best results as fast and effectively as possible.

 

Looking Into Liquidation and Reorganization Bankruptcy Cases

There are different types of bankruptcy that you may choose from, depending on your eligibility. Under each are different bankruptcy rules and requirements that you must be aware of before you can declare bankruptcy.

 

If you require debt relief and intend to file bankruptcy Chapter 7, a trustee will liquidate your non-exempt assets to pay off priority lenders. However, you must first pass the bankruptcy means test to be qualified to file bankruptcy under this chapter. Under relevant bankruptcy laws, your monthly income and living expenses will determine your eligibility as a filer.

 

Meanwhile, in a Chapter 13 bankruptcy, you will have the chance to restructure your overwhelming debts and bring current payments for secured debts (those with collateral). You can essentially avoid foreclosure and repossession by proposing a payment plan to the bankruptcy court. Here, the debt repayment plan will run for three or five years.

 

A hardworking and hands-on Sunset Hills, MO bankruptcy lawyer can answer your questions about the legal process of filing bankruptcy. Dial 314-671-0959 today!

 

Looking at Bankruptcy Proceedings and Automatic Stay

The automatic stay generally allows a debtor to experience a reprieve from the stress of being sued, garnished, levied upon, having a bank account frozen, or otherwise harassed by lenders and collectors.

In particular, it is beneficial in preventing creditors from taking the following actions:

  • Mailing any letters, calling or initiating any in-person contact at all to collect a debt
  • Foreclosing on a home or repossessing a vehicle or other personal property absent a signed court order granting Relief from Stay
  • Perfecting a lien against secured property or demanding collateral to secure an existing debt
  • Continuing to litigate a claim arising before the bankruptcy petition was filed, or filing a new lawsuit after the filing

Additionally, a creditor is also required to take reasonable steps to halt already commenced collection efforts, such as stopping an impending foreclosure sale or wage garnishment. However, the automatic stay does not prohibit creditors from collecting on the following debts:

  • Criminal prosecutions
  • Attempts to establish paternity or enforce an existing child support or spousal maintenance order
  • Eviction actions by landlord with a possession judgment for residential real estate
  • IRS or Colorado Department of Revenue tax audits

Mike Doyel honed his legal skills helping a wide range of clients in matters ranging from bankruptcy to complex products liability and wrongful death litigation. He can provide personalized attention and help you have a successful bankruptcy declaration.

 

Making the Most Out of Automatic Stay

The automatic stay can stop most creditors from engaging in any collection activity against a debtor once a petition in bankruptcy is filed. However, provisions are usually less generous for those having already filed for bankruptcy. This is especially for those filed within one year or less prior to the current filing. However, there are circumstances in which a special motion can be filed requesting the standard collection prohibitions.

 

If you are facing financial difficulties and insurmountable debt, call our law office in Missouri. We have the knowledge and experience to effectively evaluate your specific situation and determine which type of bankruptcy would best suit your case.

 

While the process of filing bankruptcy is short and straightforward, bankruptcy laws are complex, nuanced, and constantly changing. As such, it is important to choose a local attorney who is dedicated to making sure that you get the best results possible.

 

An experienced and reliable Sunset Hills, Missouri bankruptcy lawyer can answer your questions on automatic stay and the entire bankruptcy process.

Filing Bankruptcy Under Chapter 13

Under a Chapter 13 petition in bankruptcy, you can save most of your assets through a court-approved debt repayment plan. Different from other types of bankruptcy, Chapter 13 is available to individuals, families, and businesses. It gives debtors the chance to restructure or reorganize their debts to provide their creditors what is due to them.

 

In most cases, set monthly payments must be made for a period of three to five years. Filing Chapter 13 is often the best choice for those who want to settle their unpaid debts without liquidating their assets. However, it is also known as repayment plan or wage earner’s bankruptcy given the income requirement.

 

If your unpaid debts are accumulating, selling your assets to pay back your lenders is not your only option. There are certain programs and bankruptcy alternatives that might work given your situation. If you are considering bankruptcy, call our competent and compassionate bankruptcy lawyers in Sunset Hills to help you decide on which options best fit your financial standing.

 

Doyel Law Group is recognized for its extensive experience and superior client service. The firm focuses on providing quality legal services across a broad spectrum, designed to meet the needs of its clients in Missouri and even beyond.

 

Declaring Bankruptcy Under Chapter 7

There are a lot of myths about what your life will be like after bankruptcy. Seeking legal assistance is key to know which is fact from fake, and what concrete steps can help you improve your life after bankruptcy.

 

In general, a Chapter 7 bankruptcy petition can immediately stop creditor actions (such as wage garnishment and repossessions) and let you obtain a fresh start by eliminating most consumer debt. It facilitates a liquidation of assets to pay off creditors, and is considered as the fastest and most common type of bankruptcy.

 

Bankruptcy allows you to repay your debts and aim for a debt-free life. However, it has a huge impact on your credit score. This number determines the level of your creditworthiness. Chapter 7 bankruptcy generally stays on your credit history for a full ten years. Declaring bankruptcy can indeed hurt your credit score; however, its effect will gradually fade with time.

 

Before bankruptcy proceedings are finalized, it is best to have thorough discussions with your lawyer. Mike Doyel understands the challenges individuals and families face while struggling with debt and other legal issues. Our law firm provides clients with a path toward a fresh start by taking steps to resolve overwhelming debt problems.

 

Call us at 314-671-0959 and let us work on your case.

 

What to Discuss With Your Bankruptcy Lawyer

A person struggling financially will likely consider working on a bankruptcy case to address his or her financial problems. Depending on the specific circumstance of the bankrupt individual, filing for bankruptcy can help stop repossession, foreclosure, and wage garnishment. This is where a knowledgeable and hands-on bankruptcy attorney in Sunset Hills can help.

 

Seeking legal assistance from a trusted local attorney is key to avoiding stressful proceedings. Our experienced Sunset Hills bankruptcy attorney can understand the hesitation many people have when considering filing for bankruptcy. We can help you get basic information on the Bankruptcy Code and what to expect if you do file.

 

In deciding on the bankruptcy chapter most suited for you, discuss the following with your attorney:

 

  • It is vital to learn about the benefits of bankruptcy and understand the process so you will know what to expect during and after bankruptcy. The different types of bankruptcy are suited for different circumstances. If your attorney is aware of the amount and types of debt that you are dealing with, he or she can help you decide on how to proceed accordingly.
  • It is also vital to tell your lawyer if you wish to keep specific assets or are behind your mortgage payments. List down your debts, especially if they include child support, alimony, student loans, fines, or recent taxes that most likely cannot be discharged or forgiven. Specify if you have a co-signer on any account in arrears and if you want your co-signer protected while you pay off what you owe.
  • Explain to him or her all aspects of your finances, such as your regular income, total unsecured debt, total secured debt, and details on your tax filings. The amount and types of debt you owe will influence the chapter that must be filed. Additionally, when you are informed of the different implications, you are capable of making smart decisions that can reshape your financial future.
  • Be sure to mention if a petition in bankruptcy had been filed in recent years, or if a bankruptcy petition was dismissed because of failure to appear or comply with a court order. There are certain cases where declaring bankruptcy is not the best choice, or if it is not entirely feasible. Other debt-relief options may be considered, so make sure to be very transparent with your lawyer when it comes to these things.

At Doyel Law, we believe that trust and honesty are the hallmarks of an attorney-client relationship. We want to learn about you and have you learn about us. Only by learning your goals and problems can we work as a team to develop a plan for your financial peace. Start by calling us today.

 

Evaluating the Bankruptcy Chapter Most Fit For Your Case

A lot of people are struggling with debt and financial problems due to the current situation. Similarly, more are becoming interested in the advantages of filing bankruptcy. In general, a bankruptcy filing helps debtors repay their debts to creditors. It can open doors to a fresh start in life and opportunities to rebuild your financial future.

 

If you plan to file for bankruptcy or require preliminary bankruptcy information on how to file, give our bankruptcy lawyer firm in Missouri a call. We provide sophisticated legal services and we strive to create lasting attorney-client relationships with our clients, making sure you get the legal services that you need.

 

At Doyel Law, we are here to help guide you through the process so that you can get the fresh start and improved credit that you deserve. Whether it’s bankruptcy or other legal matters, our seasoned attorneys in Sunset Hills are here to help. Call 314-671-0959 and get on the path toward a fresh start and resolve your financial issues today!

 

 

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