During these tough economic times, more and more individuals are turning toward bankruptcy to help them start over. It is important to understand that not all St. Louis residents are eligible to file for bankruptcy. Determining eligibility for Chapter 7 bankruptcy is a complicated process. If you are searching for answers, do not hesitate to speak with an experienced St. Louis bankruptcy attorney to discuss the specifics of your situation.
There are several criteria that must be met in order to file for bankruptcy. If you earn too much or if you have filed for bankruptcy recently, your case might get dismissed. When filing for Chapter 7 bankruptcy, your monthly income will get measured against the median income for a family of your size in your state. If the income of your family during the previous six months was less than the median income of the state, you may be eligible to file for bankruptcy.
It is important to remember that just because you are eligible for bankruptcy, it does not mean that it is in your best interest. Every case is different. A skilled bankruptcy lawyer can help you understand your options and make choices that will protect your future.
If you are struggling with debt and are considering filing for bankruptcy, do not hesitate to speak with an attorney. Bankruptcy gives individuals that much-needed second chance to get their finances on track and get their lives back. Your financial situation can affect your family life, your career and your ability to make important purchases such as vehicles and homes. If you or not sure if bankruptcy is an option for you, please contact an experienced St. Louis bankruptcy attorney to obtain more information.