Chapter 7 Bankruptcy Lawyers in Springfield, MO
If you have medical bills or credit card debt piling up, your financial problems may seem insurmountable. You may be wondering how you can come back from your current financial situation. Our bankruptcy attorneys can guide you through the process of filing for Chapter 7 bankruptcy and help you get a fresh financial start.
Get a Fresh Start
Filing for bankruptcy isn’t easy. At Reynolds & Gold Law, our attorneys can help you protect your assets and advise you on the best course of action. Our bankruptcy lawyers will help you analyze all of your options, so you can determine if filing for Chapter 7 bankruptcy is right for you.
Experienced Bankruptcy Attorneys
Reynolds & Gold Law is ready to help you. For almost 30 years, our bankruptcy attorneys have helped people diminish their debt. We’ve filed an immense number of Chapter 7 cases and helped our clients wipe away thousands of dollars in debt.
Combined Years of Experience
How Does Chapter 7 Bankruptcy Work?
Chapter 7 bankruptcy provides the opportunity to cancel most debts and start over with a clean slate. To file, you will describe your property, income, and debts. Once you file for Chapter 7 bankruptcy, an automatic stay will stop creditors from collecting on your debts temporarily. When you file, the court will determine if you have to give up nonexempt property. With some exceptions, the majority of your debts may be discharged when your bankruptcy case closes.
Whether you are an individual or a business, you may be able to wipe away many of your debts by filing for Chapter 7 bankruptcy. This type of bankruptcy can discharge the following debts:
- Personal income taxes that meet certain requirements
- Repossession and foreclosure debts
- Court judgements
- Credit card debts
- Personal loans
- Business debts
- Payday loans
- Medical bills
- Back rent
Filing for Chapter 7 bankruptcy may not be right for everyone. For example, child support and student loans cannot be discharged. If you make too much money you may not qualify for Chapter 7; for those who are behind on their home or auto loans, Chapter 13 bankruptcy may be a better option.
Credit counseling can determine if you need to file for bankruptcy. Before you file for bankruptcy, you are required to go through credit counseling. You must work with an agency to create a budget and debt management plan. After reviewing your repayment options, the agency may determine that filing for bankruptcy is your only solution. You can still file for bankruptcy even if the agency does not believe that bankruptcy is your only alternative.
Read More About Bankruptcy Law
Do you have questions about bankruptcy? Our resources can help you find the answers you need to navigate your current financial situation.