Bankruptcy is a legal process that allows those unable to pay their debts the opportunity to eliminate them permanently. On the surface, it sounds like it’s easy to get a filing started, then be able to walk away from everything that is owed. Except it’s not that easy due to the fact that it’s a complex series of events that have specific requirements to be met in order to move forward. Everything is written using legal language that takes time to understand if you’re a layperson. It’s best to work with a Bankruptcy Attorney in St. Charles, MO in order to ensure a smooth transition from debtor to petitioner.
The key word here is “petitioner”. When you decide to file for bankruptcy, you fill out a petition that is filed with the court, asking the court for relief from debt. The petition itself is a large stack of paperwork that requires the correct information be filled in. There is a matrix to be completed, schedules filled out and exemptions, if applicable, applied. It’s a lot of work to go through, but a Bankruptcy Attorney in St. Charles, MO can take a lot of the burden off your shoulders.
A professional bankruptcy attorney in St. Charles, MO provides help in the form of doing a lot of the heavy work for you. Instead of you filling out the petition and trying to make heads or tails of it, the attorney has it done in the office. You are given a list of financial paperwork that you need to provide, and the attorney’s office fills it in for you. You will need to get a credit report in order to make sure that you have covered every last creditor and debt you own.
Once the petition is complete, the lawyer files it with the court, thus starting your bankruptcy in motion. After the filing, you have a meeting with the trustee overseeing your case and any creditors that may object to your filing. In the event no creditor shows up, your case moves forward until you reach the specified discharge date and become debt free.
For more information about filing for bankruptcy.
