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How Do You File Bankruptcy In Missouri

Missouri Bankruptcy Court Locations

Renting a Home After Bankruptcy in Missouri

There may be options short of filing bankruptcy, and the sooner you speak with a Missouri bankruptcy attorney, the more likely it is that you will have other options. However, if you do file for bankruptcy, you will want to speak with your attorney regarding your exemptions and the property you will be able to keep. A good Missouri bankruptcy attorney knows how to protect your assets.

You can file for bankruptcy in either of two districts:

Eastern District: United States Bankruptcy Court, Thomas F. Eagleton US Courthouse, 111 S. 10th St., 4th Floor, St. Louis, MO 63102, Phone:

Western District: U.S. Bankruptcy Court, Western District of Missouri, 400 E. Ninth St., Room 1510, Kansas City, MO 64106, Phone:

Benefits Retirement & Support

What about your insurance or Social Security benefits? Can those be taken from you to pay back debts?;Missouri bankruptcy exemptions also cover:;

  • Domestic support. Are you receiving alimony or child support? Up to $750 per month in child support or alimony is exempt.;
  • Insurance benefits. Up to $150,000 cash value of life insurance is exempt if you purchased the policy more than six months before your bankruptcy filing.;
  • Health savings accounts. Your health savings account is exempt up to the full amount of the account.;
  • Retirement accounts. Your 401k, IRA, Roth IRA or state retirement accounts are safe. They are exempt in full.;
  • Public benefits. Your public benefits, like SSI, SSDI or veterans benefits, are protected and exempt in full. Workers compensation and unemployment compensation can also be exempt up to its total value.;

Filing for Chapter 7 bankruptcy does not necessarily mean you will lose everything. Depending on your financial situation, Missouris bankruptcy exemptions can help you keep your house, car and personal property while relieving you from the burden of debt. Speaking with an attorney will help you determine which chapter of bankruptcy to file and what property you can keep if you plan to file Chapter 7.;

Is Chapter 7 bankruptcy the right option for you?

Contact Reynolds & Gold. We will help you resolve your debt.;

What Does And Doesnt Appear In Court Records

Court records could list any petitions, filings, disputes, or list of creditors that accompany petitions. What doesnt appear is the petitioners Social Security number. Just the last four digits appear on the documents. If you have concerns about your privacy when you file for bankruptcy for any reason, our bankruptcy attorney will consult with you about the best course of action and steps we can take.

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Successfully Passing The Chapter 7 Bankruptcy Means Test

Passing the means test is not the last step in the process, as it is not the only qualifying factor. In Missouri, petitioners will be required to also submit two forms. These forms are known as Schedule I and Schedule J . If the individual has an income surplus, he or she will be court ordered to pay creditors monthly. This changes the case to a Chapter 13 bankruptcy.

Finally, qualifying for a Chapter 7 bankruptcy does not mean that a petitioner must file one. The test will simply determine that the petitioner can file for a Chapter 7 bankruptcy. It is important to explore all the available alternatives prior to making a decision. A qualified bankruptcy attorney versed in the laws local to Missouri is a invaluable resource for determining if a Chapter 7 bankruptcy is the best decision.

Need Help with the Chapter 7 Bankruptcy Means Test?

Despite the wealth of information available to help us understand the Means Test and who qualifies, the particular circumstances of individual filers can greatly vary. A qualified Pennsylvania bankruptcy attorney at your side can help fully allay your concerns, and help you understand how you can pass the means test and file for Chapter 7 bankruptcy.

What Are The Different Kinds Of Bankruptcy

Zero Down Bankruptcy in Missouri

This website focuses on the two most common types of bankruptcy filed by individuals: Chapter 7 and Chapter 13. But hereâs a quick summary of the six types of bankruptcy most commonly filed under the bankruptcy code; they get their names from the chapters where they appear in the code.

Chapter 7 Bankruptcy

Chapter 7 lets individuals wipe out most kinds of debt in just a few months. You get to keep certain kinds of propertyâfor example, at least some of the equity in your home, your car, clothing, personal items, and property that is essential to your profession. This type of property is called âexemptâ property, and many Chapter 7 filers find that exemptions cover most of what they own. If you have nonexempt property, the bankruptcy trustee will sell it to repay your creditors as much as possible. To qualify for Chapter 7, you must pass the âmeans test,â showing that your income is less than the state median income for your family size. Most bankruptcies filed in the U.S. are Chapter 7 bankruptcies.

Chapter 13 Bankruptcy

Chapter 9 Bankruptcy

Cities or towns may file for Chapter 9 bankruptcy if they are overwhelmed by debt. It allows municipalities to develop a plan for handling debts while holding creditors at bay.

Chapter 11 Bankruptcy

Chapter 12 Bankruptcy

Chapter 15 Bankruptcy

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We Offer Exact Fees No Extra Charges And Payment Plans

In the initial free consultation, you will be quoted anexact fee for representation in the case. The fee quoted covers the entire bankruptcy representation, except for rare circumstances which will be explained if applicable to your case. We dont add additional fees for services such as phone calls, letters, the number of creditors you have, reaffirmation agreements, etc. You will know the exact fee for your case after the free consultation. Also, our firm offers payment plans to allow you to get your case filed as quickly as possible.

Am I Eligible For Bankruptcy In Missouri

There are different kinds of bankruptcy, and there are different eligibility requirements for each kind. There are also some common requirements. To take advantage of the state’s property exemptions, you normally must have lived in Missouri for two years. Furthermore, all debtors must complete two brief financial management classes.

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Missouri Bankruptcy Means Test

The Missouri bankruptcy means test must be completed, using income information from the 6 months before your case is filed, by everyone who seeks relief under Chapter 7 bankruptcy in Missouri. It is supposed to make sure that folks who make âtoo muchâ money don’t abuse the system. If, at first, it looks like you somehow make too much money based on your gross income, you can deduct allowed reasonable expenses. If that leaves you unable to pay your debts, Chapter 7 bankruptcy is an option for you. If not, you may want to consider filing a Chapter 13 bankruptcy to get relief.

Data on Median income levels for Missouri

Missouri Median Income Standards for Means Test for Cases Filed On or After May 1,2021
Household Size

Figuring Out If Youre Eligible For Chapter 7

Finding a Job After Filing for Bankruptcy in Missouri

To qualify for Chapter 7 bankruptcy, your bankruptcy forms need to show that you donât have enough income to repay your creditors a certain amount. You can accomplish this by either:

  • proving that your income is below the Missouri median income for your household size, or
  • comparing your income to expenses under a complex formula called the bankruptcy means test calculation to show that youâre not able to pay.

If your income is above the median income for your state and family size and the means test shows you have enough disposable income to make reasonable payments to your creditors, the bankruptcy court may dismiss your caseâor you may be allowed to file bankruptcy under another chapter of the bankruptcy code, like Chapter 13.

Our can do the math for you, so you can figure out whether you’ll qualify for Chapter 7.

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Qualifying For Chapter 13 Bankruptcy

If you do not qualify for Chapter 7, you may qualify for a Chapter 13 Missouri bankruptcy. In Missouri, there are caps put on the amount of debt you are allowed to have if you want to file for Chapter 13. This debt limit is periodically adjusted.

Specifically, as of April 1, 2010, the limit on secured debt was $1,081,400, while the limit on unsecured debt was $360,475. Secured debt is a loan you pledged some asset for. Unsecured debt is a loan you did not pledge an asset for.

If you exceed one of these debt limits, you will be unable to file for Chapter 13. However, you should speak with a Missouri bankruptcy attorney about filing for Chapter 11.

Contact Groce & Dearmon For More Legal Aid Tips

It can be difficult to know when you need legal aid for your bankruptcy filing. If you are in need of legal assistance and planning to file for bankruptcy, get in touch with Groce & DeArmon for help at 862-3706 or contact us online today.

By Shari DeArmon

Last week, the Groce & DeArmon, P.C. blog looked at the filing process for Chapter 7 bankruptcy. Filing for any form of bankruptcy is stressful and time-consuming, but it is important to file for the right one and to do so swiftly to get the best results. Today, the Groce & DeArmon, P.C. blog discusses the other common form of bankruptcy: Chapter 13 bankruptcy. We will look at the qualifications for Chapter 13 bankruptcy and what the filing process looks like.

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How To File Bankruptcy In Missouri

Sometimes, the financial turbulence in our lives gets so rough that we have to hit the eject button and parachute to safety. That eject button is bankruptcy. Bankruptcy can be the fresh start you need if you are in debt and dont see a way out.;

But theres a problem. Even if you do your research and decide that bankruptcy is right for you, youre left with a two-word solution File bankruptcy and not much information. How, exactly, do you file bankruptcy in Missouri? Unfortunately, its not a simple process. Its the kind of complex legal and financial decision that requires a step-by-step guide.

This is that guide. In this post, we tell you everything you need to know about how to file bankruptcy in Missouri. For more information, keep reading or contact the experienced Missouri bankruptcy attorneys at A Bankruptcy Law Firm, LLC.

How Much Does It Cost To File For Bankruptcy In Missouri

Impact To Your Credit Score If You File For Bankruptcy in ...

In 2021, Chapter 7 bankruptcy costs $338 in filing fees, unless you get a fee waiver from the court. And the filing fees for Chapter 13 are $313. But the cost of filing for bankruptcy is more than just the filing fee. You may also have to pay for:

When all is said and done, your bankruptcy case could cost you as much as $2,500 and as little as nothing at all. The total cost will depend on:

  • whether you qualify for fee waivers
  • whether you qualify for free legal aid services
  • whether you handle the form preparation and filing yourself or pay someone to help you, and
  • how complicated your financial situation isâfor example, whether you’re facing imminent foreclosure, whether your debts involve child support or back taxes, and whether you have valuable assets that are not fully protected by an exemption.

Hereâs an overview of some of the costs that may come up during bankruptcy.

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Alternatives To Filing Bankruptcy In Missouri

However, a Chapter 13 bankruptcy in Missouri may not be right for everyone. You may have another solution to your debt problem that works better for your situation. Ascends goal is to help you explore various debt relief options to help you find a solution to your debt problems that work for you.

Our Debt Settlement Guide and our article entitled Debt Management vs. Debt Settlement provide valuable information about non-bankruptcy alternatives for getting out of debt. You can also read through our FAQs about debt settlement and compare debt consolidation to debt settlement to learn more about ways that you can get out of debt without filing bankruptcy.

Before you make any decisions regarding debt relief, make sure you have all the facts.

How Often Can I File For Bankruptcy In Kansas Or Missouri

Federal law determines how often you can file for bankruptcy and which of your debts can be discharged. For Chapter 7 bankruptcy, your debts can be discharged every eight years as determined by the date your previous case was filed.

For Chapter 13 bankruptcy, the time frames can vary according to your case. Typically, your repayment plan will last three to five years, but every case is different.

In addition, a Chapter 7 discharge may be denied if you already filed a Chapter 13 within the last six years. Similarly, you might not be eligible for a discharge under Chapter 13 if you already received a Chapter 7 discharge within four years of the current case, or if you filed Chapter 13 within two years of the current case.

There are tons of exceptions to these rules. A bankruptcy attorney can help you sift through them all and give you a more accurate picture of what your case might look like.

To get the most out of your case and prevent problems down the road, remember your attorney is on your side and needs to know your concerns. Castle Law Office has been handling bankruptcies for Kansas City clients from more than 14 years. If you need the fresh start bankruptcy can provide, call us today at 816-842-6200 to speak with an attorney. Or;you can email us;and schedule your free consultation.

Contact Us

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What Is A 341 Hearing

Everyone who files for bankruptcy must attend a 341 hearing, which is also called a “creditors meeting.” The meeting is conducted by the bankruptcy trustee assigned to your case. The trustee will put you under oath and may ask you questions about the information you’ve provided on your bankruptcy forms. Creditors may also show up at the hearing to ask you questions, but it’s not common for them to do so.

Bankruptcy law also requires the trustee to ask you questions to be sure you understand how bankruptcy works and the potential consequences of filing bankruptcy, such as the effect on your credit record.

For most bankruptcy filers, this will be your only trip to the courthouse . Most court websites post schedules of 341 hearings, and when you file, you will be notified of your hearing date. When you show up for your hearing, you will find that many other people have hearings set for the same day. You will sit and wait for your name to be called–usually in a room somewhere in the courthouse or federal building, but probably not in a courtroom.

How To File Bankruptcy In Missouri For Free

Which State Should I File Bankruptcy In?

Depending on what is going on with you financially, you may be worried that you cannot file a Chapter 7 bankruptcy in Missouri because you cannot afford it. Remember, though, if you are eligible for a waiver, you may not have to pay the court filing fee at all. Filing Chapter 7 in Missouri can be done completely for free that way.

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    Protecting Your Exempt Property

    If you file for Chapter 7 bankruptcy, the bankruptcy trustee assigned to your case may sell your property to pay your debts unless the law specifically allows you to keep all or a part of it. The property youâre allowed to keep is called your âexempt property.â For example, exemptions may allow you to keep at least some of the equity in your home, a car, and personal property such as your clothes and household goods.

    Bankruptcy exemptions arenât automatic. You must figure out what is exempt and list that property on your bankruptcy forms, along with the specific laws that allow you to claim the property as exempt. Exemptions are determined by state law; some states have their own exemptions, while others allow you to use the exemptions provided by the federal bankruptcy code.

    For more information on Missouri law, see the Exemptions section of this website.

    Speak To An Experienced Bankruptcy Attorney Today

    This article is intended to be helpful and informative. But even common legal matters can become complex and stressful. A qualified bankruptcy lawyer can address your particular legal needs, explain the law, and represent you in court. Take the first step now and contact a;local bankruptcy attorney to discuss your specific legal situation.

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    Myth : You Cant Get Any Job

    You cannot be denied a job because of your financial status unless you will be getting a job that requires you to be financially responsible. These jobs include the banking industry, executives, and managers who oversee company finances, and jobs that require you to manage some financial aspect of an employer. Our bankruptcy attorneys can counsel you about what an employer can and cant do when/if they find out about your bankruptcy.

    Take A Look At The Descriptions Below For More Information:

    How Much Does It Cost to File Bankruptcy in Missouri ...

    $335 court fee + $564 attorney fee + $9.76 course fee = $908.76. The means test was added to the bankruptcy code in 2005 to prevent bankruptcy fraud. In addition, taxes which were last due within three years of the petition date are given priority treatment and must be paid in full through the bankruptcy for the debtors to receive a discharge. Tell the clerk that you are here to file for bankruptcy missouri. Pursuant to the bankruptcy code, debtors in bankruptcy are required to file all tax returns for the four years prior to their bankruptcy. Both individuals and corporations can file for missouri bankruptcy. In missouri, there are two u.s. It’s important to get the official court forms, even the local ones used only under missouri bankruptcy laws, right, so your case goes smoothly and your discharge is entered without delay. You must file an application to waive the filing fee and provide all information required by the federal form which can be obtained at Welcome to the official website for theunited states bankruptcy courteastern district of missouri. As a firm that only practices bankruptcy law, we realize the cost of filing chapter 7 or filing chapter 13 in springfield missouri is a primary concern for clients. The western district and the eastern district. Families or individuals either file for chapter 7 or chapter 13, while corporations and business file for chapter 11.

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