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Why the timing of your bankruptcy case could affect your tax refund The timing of your bankruptcy filing will be important if you are expecting a significant income tax refund. Pending tax refunds are generally considered part of the bankruptcy estate. Calendar proration is used to determine the portion of the tax refund that can…
Even if a debt can be discharged, you may have special reasons why you want to promise to pay it. For example, you may want to work out a plan with the bank to keep your car. To promise to pay that debt, you must sign and file a reaffirmation agreement with the court. Reaffirmation…
The 5 main challenges that force many into bankruptcy Top 5 reasons why people file bankruptcy Bankruptcy is rarely anticipated. Usually there is some sort of event or problem that arises that is too tough to face and requires filing bankruptcy in Missouri to resolve it. Here are the top 5 reasons people file bankruptcy.…
4 things to consider about the cost of bankruptcy Many of our potential clients ask us, “What does it cost to file bankruptcy?” The price varies based on several factors. We can give you a free estimate for your situation. In the meantime, remember these four things: Bankruptcy is an investment: Any money you spend filing…
6 important characteristics to consider in an Missouri bankruptcy attorney These 6 qualities are important in choosing a bankruptcy attorney There are more attorneys in America than anywhere else in the world. This means that as you are considering hiring a Missouri bankruptcy attorney, you have lots and lots of choices. This can become overwhelming…
The 7 Main Steps of Filing Missouri Bankruptcy If you are considering filing Missouri bankruptcy, we want you to feel comfortable that the process is much simpler and more straightforward than you might think. Here are the 7 main steps that you should expect as you file Missouri bankruptcy: Have a consultation with an attorney: Your attorney…
Unfortunately, paying off a debt owed to a friend or family member prior to the filing of a bankruptcy can result in a costly and difficult situation for both the person paid and yourself. Under the Missouri Bankruptcy Code, any payments to a friend or family member made within a year prior to the filing of 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 a fraction of the amount owed. Well, if it looks too good to be true,…
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 from being taken by a bankruptcy trustee is fraud. In addition to asking the court…