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Many people who look into Chapter 7 bankruptcy as a way to eliminate their debts are immediately concerned that they will lose all of their assets if they file. This concern is understandable, due to the fact that filing for Chapter 7 involves the liquidation of all of a person’s nonexempt assets in order to pay off creditors.
Chapter 13 bankruptcies can be complicated processes. A Chapter 13 bankruptcy allows you time to reorganize your debts while at the same time retaining your assets. The payment process consists of a schedule of monthly payments that are made to the court over the course of a three-to-five-year period. This allows your creditors to receive the money you owe them in monthly installments.
The vast majority of residential home purchases are relatively simple transactions that involve boilerplate forms. As such, they are usually handled by real estate agents and brokers alone without the involvement of attorneys. However, there are several reasons why you might want to think about hiring an attorney to represent you when buying a house.
An individual creates a will to describe how his or her finances and assets are to be distributed upon his or her death. Most of the time, the Decedent’s estate is distributed according to the will. Occasionally, the Decedent’s surviving members will contest the contents of the will. Surviving family members will contest the validity of a will for various reasons.
Talking about and planning for one’s death is not regularly discussed in Saint Louis or across the United States. People would much rather delay thinking about their demise instead of plan for this inevitable event. Some individuals will delay thinking about their death at all costs. However, proper estate planning is essential.
Bankruptcy is a legal procedure by which individuals and businesses can discard debt or agree to repayment plans with creditors. For many, bankruptcy provides an opportunity to start again while repaying debts. Still, filing bankruptcy comes with a stigma despite the fact that nearly 800,000 individuals and businesses filed for bankruptcy in 2016.
Student debt is crippling borrowers as well as the United States economy as a whole. Recently published statistics show that Americans owe more than $1 trillion dollars in student debt. As a result, many Americans with student debt are delaying or foregoing purchasing homes, moving, and even marriage.
If you have been appointed as the guardian of a minor child, the court has imposed both rights and responsibilities upon you. Child support during guardianships is a financial issue that some guardians may not even be aware of. If you have been appointed as guardian of a minor child, you have obligations to manage that child’s financial interests, including the right to enforce ...
It is not at all uncommon for parents to reach out for help in raising their children. When military deployments, medical diagnoses, or other personal circumstances prevent a parent from being able to fully engage with their children, a grandparent is often the first person to step in to help the family.
There are many pros and cons to filing for bankruptcy. One of the most common concerns debtors have is the impact bankruptcy will have on their future credit score. Many consumers assume that filing bankruptcy will simply ruin their credit entirely and make it impossible to ever borrow again. This is not necessarily the case.
There are many things to consider when you are deciding whether to file bankruptcy. One of the most important is what will become of your house and car when you file. In a Chapter 7 bankruptcy, the debtor asks the court to discharge debts because he or she does not have the income to pay these debts.
Applying for Veterans Burial Benefits is simple if you know the right person. On every veteran form there is a “Respondent’s Burden” and the time listed to complete the form. Poor choice of words if you ask me, the word Veteran and the word Burden does not belong together. Choose a funeral home, a funeral director that has the time and the desire to help every Vet get every ...
While no adult is ever too young to draft a last will and testament, many people decide to do so when they have minor children they want to protect. There are different issues to consider when you are writing your will with your minor children in mind, and the following are only some examples of such considerations.
As part of a comprehensive estate plan, many people opt to form a trust to which they transfer ownership of their property and assets. However, there are many types of trusts you can form under Missouri trust laws, and the type of trust that is right for you will depend on many factors. Such factors may include: Your familial situation The nature of your estate The age, ...
Starting a small business is a challenging and often rewarding process. However, reports have indicated that 80 percent of small businesses end up closing their doors within 18 months of starting operations. This means that no matter how hard you aim for successful entrepreneurship, you may have to say goodbye to a business venture.
Under Missouri law, when you lose your job through no fault of your own or you leave a job for good cause, you are often entitled to unemployment benefits. This program is funded in part by taxes imposed on employers in the state, whose tax is based on their “experience rate,” which is partially determined by the number of claims made by former employees.
In this day and age, more and more people are choosing to start their own business ventures rather than work for someone else. If you are suddenly laid off from your job and have a good business idea, you may be considering a try at self-employment. While self-employment can be very rewarding and lucrative, it can take time to get a new business off the ground.
When some people think about bankruptcy, they immediately consider bankruptcy cases filed under Chapter 7 of the United States Bankruptcy Code. While it is true that most cases are Chapter 7, a significant number of cases are filed under Chapter 13 each year. Chapter 13 cases are handled quite differently than Chapter 7 cases, as Chapter 13 cases require that a petitioner make ...