Chapter 13 Missouri Bankruptcy

Under Chapter 13 in Missouri, you are able to create a plan to get back on track with your finances while also given the chance to save your home and stop foreclosure.

Once your chapter 13 Missouri bankruptcy is approved, creditors must comply with the terms established in the chapter 13 payment plan. Depending on the circumstances, plans will vary with some creditors paid in full, some in part, and some nothing. Monthly payments will be made to a bankruptcy trustee who will then divide the money out among creditors.

The chapter 13 Missouri bankruptcy cycle usually lasts 3-5 years. During this time you will be placed on a budget that restricts any nonessential purchases from being made. At the end of the plan, all remaining balances that can be discharged will be.

Requirements for Chapter 13 in Missouri

Under the chapter 13 Missouri Bankruptcy plan, you must have a steady monthly income that exceeds your living expenses. If your monthly income does not exceed your living expenses, you may not be approved for Chapter 13 in Missouri.

Fill out our Chapter 13 Missouri Bankruptcy Evaluation to see how a plan could work for you.