30 Oct Bankruptcy Law
Carson & Coil is dedicated to helping mid-Missouri families with bankruptcy filings.
Experienced bankruptcy attorneys specializing in Chapter 7 and Chapter 13 bankruptcy in Missouri.
At Carson & Coil, our attorneys understand the fear and uncertainty associated with filing Chapter 7 or Chapter 13 bankruptcy. The panic of ‘what’s next’ can lead to a sense of chaos and overwhelm. With the unknown right outside your front door, you may feel like your back is against the wall. The Carson & Coil Bankruptcy Law team recognizes your anxiety and desire for solutions. Let us help you navigate the Chapter 7 and Chapter 13 bankruptcy legal system.
What Is Chapter 7 Bankruptcy?
What does it mean to file Chapter 7 bankruptcy in Missouri?
There are two kinds of bankruptcy filings, Chapter 7 and Chapter 13. If you plan to file Chapter 7 bankruptcy in Missouri, you will be asking the courts to dismiss you debts with any existing assets you have. As explained by the United States Courts, “This chapter of Bankruptcy Code provides for ‘liquidation’ – the sale of debtor’s nonexempt property and the distribution of the proceeds to creditors.”
Unlike a Chapter 13 bankruptcy filing, Chapter 7 does not allow for you to establish a payment plan. Instead, you will be required to gather and sell your nonexempt assets (property a court can sell) to pay creditors. For additional details related to Bankruptcy Law, please reach out to Alan M. Meyer for more information.
What does it mean to file Chapter 13 Bankruptcy in Missouri?
The second type of bankruptcy filing is Chapter 13. A Chapter 13 filing (also called a wage earner’s plan) in Missouri coordinates a court-approved payment plan to help decrease the debt owed over a three to five year time period. The court will analyze your monthly income against Missouri’s median and create a payment plan for you.
Top Questions to Ask Yourself Before Picking A Bankruptcy Attorney
Bankruptcy is full of choices, the most important one you will make is who will represent your filing. At Carson & Coil, we strive to provide excellent legal representation for all of our clients. Below are some questions you should consider asking yourself before picking your Chapter 7 or Chapter 13 bankruptcy attorney.
- Does the attorney have experience with Chapter 7 and Chapter 13 bankruptcy filings in Missouri?
The representation you choose needs to have an expansive understanding of Missouri’s Bankruptcy laws.
- Should you file Chapter 7 or Chapter 13 bankruptcy?
Chapter 7 and Chapter 13 bankruptcy are completely different filings. Be sure to ask your bankruptcy lawyer which type of filing is best for you.
- How much will it cost for the attorney to represent your bankruptcy case?
It’s important you find out the fees associated with bankruptcy representation on the front-end. Simply ask the attorney about their retainer fee and if there is a payment plan with the firm. There should always be a written agreement given to you by the attorney.
- What is the best way to stay in contact with your bankruptcy attorney?
Transparency in communication is key during Chapter 7 and Chapter 13 bankruptcy. Make sure you find out the attorney’s preferred method of contact. Phone? Email? Knowing your bankruptcy lawyer’s preferred method of communication will help you establish proper expectations from the beginning.
- Is bankruptcy the right choice for me?
When you meet with your bankruptcy attorney, they should outline a strategy and how bankruptcy can help you.
About Alan M. Meyer, Chapter 7 and Chapter 13 bankruptcy attorney in Missouri
Alan Meyer represents consumers and creditors in bankruptcy proceedings, as well as representing consumers in contract disputes and collections cases. He has extensive experience helping consumer debtors navigate the tricky rules and laws governing bankruptcy, and has represented hundreds of debtors in Chapter 7 and Chapter 13 proceedings. Alan practices at Carson & Coil’s Jefferson City and Columbia, Mo offices.