Are Debt Negotiation Companies Better than Bankruptcy?

Most of the time the answer is NO! Before considering bankruptcy, many of my clients have considered using a debt negotiation service that advertised on the radio or TV. These ads claimed to be able to give creditor relief for … Continue reading

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Missouri Bankruptcy Advice: Before bankruptcy is it a good idea to pay off minor credit card debt?

Paying off a credit card with a small balance before a bankruptcy filing may be advisable for post-bankruptcy credit building. Debtors must list all of their creditors in their bankruptcy schedules (all debts). The Court then notifies these creditors of … Continue reading

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Missouri Bankruptcy Help: Can I transfer my assets to someone else before bankruptcy?

It is generally not a good idea to put property you own into someone else’s name in the time leading up to a bankruptcy filing. Transferring assets to another individual or entity prior to filing bankruptcy to protect the assets … Continue reading

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Missouri Bankruptcy Help: Should I borrow against my home to pay off debt?

If considering bankruptcy, do not¬†borrow money against your home to pay off or consolidate debt.¬†The homestead exemption laws in Missouri and Kansas both protect some equity in a bankruptcy debtor’s house. As a general rule, incurring additional debt against a … Continue reading

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Missouri Bankruptcy Filing Tip Help: Should I pay off debt with retirement funds?

It is usually not advisable to withdraw or take out a loan against a 401K,IRA or other qualified retirement account to pay off or consolidate debt. Under Missouri and Kansas law, an individual’s interest in their retirement plan such as … Continue reading

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When Should You File Chapter 11 Bankruptcy

Clients often ask me about the different types of bankruptcy, including Chapter 11 bankruptcy. A Chapter 11 bankruptcy serves two specific purposes: 1) restructuring business debt and 2) restructuring consumer debt for individuals that have too much debt to qualify … Continue reading

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