It’s a huge relief to file for Chapter 13 bankruptcy. After successfully filing you will finally have protection from foreclosure, assistance with credit card debt and you won’t have to worry about your wages being garnished any longer. Once the judge approves the repayment plan you have proposed your creditors must accept it whether they like it or not.

Don’t be fooled though. You aren’t completely out of hot water just because you aren’t constantly getting calls from bill collectors anymore. You have to remember a few rules throughout your repayment plan. (more…)

It’s a huge relief to file for(more…)

Ideally, we’d like to be able to plan out when we are going to incur big costs; but life’s little surprises rarely leave us a moment to catch our breath. Medical emergencies are among the worst of these surprises. If a life is at stake, cost is usually the last thing on our minds. We are a society focused on the value of an individual life, which often leads us to make any effort, no matter the cost, to save a life. And while any life is certainly worth saving, we tend not to think about the financial situation that will result for the injured party. A very appropriate example of this is the cost of an air ambulance. An article on MSNBC reported that about 550,000 patients are flown by helicopter or a small airplane to get medical treatment for heart attacks and car accidents, among other things. What is the cost of these flights? It could be anywhere from slightly less than $12,000 to $25,000 per flight.

It’s no wonder that health care is such a hot button issue for congress right now. The cost of getting serious medical treatment is only rising-and so is the number of folks filing chapter 7 or chapter 13 bankruptcy in Missouri and Illinois. After 15 years as a St. Louis Missouri and Fairview Heights Illinois bankruptcy attorney, I’ve seen a lot of people that need to be protected from foreclosure, to find a solution to credit card debt, and to get rid of harassing creditors after a medical emergency. Medical bills can be eliminated through bankruptcy, keeping families safe and protected in their homes and without the burden of debt looming over them.

Bad things happen to good people-but bankruptcy can protect those people from losing more than they already have. If you are in a similar situation and wondering “Should I file bankruptcy?” take a look at the information available to you from reputable St. Louis Missouri or Southern Illinois bankruptcy attorneys. Many of these attorneys provide basic descriptions or even bankruptcy FAQ on their websites. The best bankruptcy attorneys in Missouri and Illinois, however, will provide you with articles, blogs, and possibly even free publications before you set foot into his or her office. Make sure that any attorney you want to hire for your chapter 7 or chapter 13 bankruptcy case is willing to offer you these “extras” before hiring him or her.

Latin super star Shakira has seen unbelievable success. With several singles out right now and a long resume of international hits, it seems that she is one of the biggest stars of all time. In a recent interview with CNN, however, Shakira revealed that her roots are very modest. When she was only 8 years old and living in Barranquilla, Colombia, Shakira’s parents filed for bankruptcy. In the interview, Shakira explained that it was hard for her to understand what her family bankruptcy truly meant.

Her parents took it upon themselves to show Shakira what life could be like had they not filed bankruptcy. They showed her a park where families who had been turned out to the street after not getting protection from foreclosure or help with any of their debt. “They wanted to show me another reality that was much worse than mine to make me gain perspective on things,” said Shakira of the experience. And it was that very experience that inspired Shakira to be the success she is today. She has even started her own foundation to help poor children in Colombia get an education and became a UNICEF goodwill ambassador because of the experience.

What 8 year old Shakira didn’t see is that her parents knew when to file bankruptcy. They took responsibility for her and themselves by getting protection from foreclosure, credit card debt help, and relieving themselves from the stress of creditors. It is this brave act by her parents that showed Shakira the protection that bankruptcy can provide and the opportunity it can give you to be a great success.

Now, as a Missouri and Illinois bankruptcy attorney at a St. Louis law firm, I can tell you that the rules for bankruptcy are much different than they were years ago (and on another continent!) but the feeling of being in overwhelming debt remains the same. The protection for other families in this situation has only improved and many other famous people who have filed for bankruptcy will agree that their filing was only a beginning for their future successes.

Where can you find more information on bankruptcy and how it can help you? Many attorneys offer free consultations but the best offer all the free information you need before you even walk in the door. Make sure that any attorney that you are thinking or hiring to help you get out of crushing amounts of debt is prepared to offer you free articles, blogs, and publications full of the information you need to decide if bankruptcy is something to consider.

It might be easier to fix a leaky faucet or a flat tire by yourself but you may not want to treat your financial future the same way. There isn’t a kit for Chapter 7 or Chapter 13 that you can fill in an hour-a bankruptcy is actually more complicated and time-consuming than that. Still, thousands of people every year try to file by themselves. Perhaps they think it would be less expensive or easier to do it on their own. Many people think that it would just be easier and cheaper to file bankruptcy by themselves. But, if you really research the process, I think you’ll find that there are a lot of errors that can be made that may cost you more money and keep you from actually getting any relief.

Paperwork usually causes problems for people attempting to file by themselves. Sure, it seems simple, but if you leave a creditor off or fill out the chapter 7 or chapter 13 forms wrong, you will still be held responsible for that debt even after your bankruptcy is finished. Bankruptcy will help you best if the court and the trustee have a true picture of your financial situation. If you leave a creditor off, you can still be held responsible for the debt, even after your case has been discharged. What does that mean? You could still be getting harassing creditor calls, wage garnishments and possibly in danger of foreclosure.

Also, do you know which debts can be discharged or which property needs to be included? If you make one simple error during the actual bankruptcy process, a judge can dismiss your case and leave you with a bankruptcy on your record-without the benefit of eliminating your debt. You’ll end up wasting all the money and time you spent trying to get your bankruptcy and possibly be in a worse situation than before.

Instead of asking if you can I afford bankruptcy, you may want to ask yourself if you can I afford to do it wrong the first time. You could end up spending just as much or more money than you would have if you had just found an experienced St. Louis law firm with a capable Missouri or Illinois bankruptcy attorney. So, before you decide you want to try and negotiate with your creditors and the court, attend hearings, and manage your debt alone, think, “Can I afford to risk it?”

We are well into the information age-a time where you can find any little factoid from the name of that actor on the last episode of “The Office” to the number of cities in Montana. Research for things like your financial future, however, may require a little more care. After all, just because it is posted on the internet doesn’t mean that it is true; there are plenty of bloggers out there with no credentials telling you whether bankruptcy is right for you or not. And misinformation may be more dangerous than you think.

For example, I came across an article just the other day on a “Bankruptcy Home Equity Loan.” After reading through it, I discovered that not only did the author mistake a bankruptcy process called a “motion to incur debt” for a “bankruptcy home equity loan,” he also provided the wrong facts about it and forgot to address any possible outcomes or downsides. I only knew that his information was wrong because he was discussing my industry. Had he discussed some other subject, I may have not had such an easy time figuring out that it was the wrong information.

So, how can you tell fact from fiction? Be more selective with who you believe. Take information from sources you know and trust, like your lawyer or a government website. (You can identify government websites by their “.gov” ending) When reading any information, check the credentials of the author. If he or she doesn’t have any information to offer about how they got the knowledge they are so eager to share with you, it may not be trustworthy information. I have written a book on getting help with your debt that could also help you avoid being the victim of misinformation. After helping more than 30,000 families break free from their crushing amounts of debt, I’ve put together the ultimate guide to handling your debt. Request a free copy by visiting us on the web!

If you are in debt, wage garnishment is a common tactic used by creditors in Missouri and Illinois to make you pay up by taking a portion of your paycheck. How do they get permission to do something like that? Very often, creditors are able to get a garnishment by obtaining a judgment from a court to collect money that you owe. Usually, such garnishments have a time limit, but creditors will often get them renewed until the debt is completely paid off.

In Missouri and Illinois, there are specific laws relating to wage garnishments. A creditor is basically allowed to take up to 25 percent of your income. This amount is limited to 10 percent if you are the head of the household or the sole wage earner in the family. However, these minimum percentages do not apply to all debts. In some cases, especially where it involves child support payments, creditors can shave off up to 65 percent of your paycheck. Wage garnishment can be embarrassing because your employer will be made aware of your financial travails as well.

Fortunately, there are ways by which you can stop wage garnishment. The immediate route you can take is to file for bankruptcy (Chapter 7 or Chapter 13) right away. You can do so even in alimony and child support cases. In fact, a bankruptcy process can actually help you recover some of your garnished wages through what is known as a preference. According to the U.S. Bankruptcy Court, a “preference” is defined as “a debt payment made to a creditor in the 90-day period before a debtor files bankruptcy that gives the creditor more than the creditor would receive in the debtor’s Chapter 7 case.” What this means is that the wage garnishment amount that was collected by the creditor 90 days prior to the bankruptcy filing can be returned to you.

If your wages are being garnished, you would be well-advised to contact a Missouri or Illinois bankruptcy attorney immediately. It is extremely important for you at this point to begin examining your legal options and stop the wage garnishment. The best bankruptcy law firms will not only offer free and comprehensive consultations but article, blogs and books filled with FREE information even before you contact the attorney.