Bankruptcy, Finance, & Debt Relief Blog

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Bankruptcy Myths

Even though the new Bankruptcy Law passed over 10 years ago (in 2005), misinformation is still everywhere! Here are a few of the most commonly repeated statements that are just plain wrong. I, Tracy A. Brown (“TAB”) want you to be armed with the TRUTH! Myth #1 It’s almost impossible to file Chapter 7 now. TAB says: Wrong! In fact, most of the same people who filed Bankruptcy before the law changed can still file today. The IRS has established income guidelines that we have to take into consideration when evaluating your case, but only a small percentage of people are affected. Myth #2 People who file Bankruptcy are bad with money. TAB says: Wrong! Lots of studies show the most com

Tips to Help You Before Filing Bankruptcy

Lawsuits – (Filed or About to be Filed) ▪ You can’t stop them, but Bankruptcy can! ▪ Always go to your Court hearings. Ask for a continuance. The Judge does not have to allow a continuance, but you should try and delay any Judgment against you until you can get your case filed. ▪ A Judgment is BAD! It means that your wages can be garnished and money in your bank can be taken. It also means that if you are buying a house, the creditor can now use your house as collateral until you pay. If this happens before your case is filed, you may still have to pay it. Garnishments and Bank Levies ▪ You can’t stop them, but Bankruptcy can! ▪ Keep your money out of the bank. If you have direct deposit,

How Can I Afford to Pay for a Good Bankruptcy Attorney?

How Can I Afford to Pay for A Good Attorney? Pay your bills in a way that benefits YOU and not your creditors. When you file Bankruptcy, you are saying that you no longer plan to make payments to the unsecured creditors listed in your case. So when do you stop paying? ▪ After you file? ▪ The day you file? You should stop paying when you decide to file and don’t delay filing! What’s wrong with delay? ▪ Things change! ▪ The Law changes periodically! ▪ Any advice we give you now may change in the future. ▪ When you delay, you risk having new issues to deal with when your case is filed. When you decide to file: ▪ Continue to pay for things you want to keep like your auto o

Why do some people lose assets in bankruptcy?

You might say: “I heard that some people have filed without an Attorney” “I heard some commercials for really cheap Law Firms” “I think my case is really simple” You should ask: How do I choose a good Attorney? Under the new law, filing a Bankruptcy case is a lot more work than before and there are a lot of complicated areas and questions that seem tricky. We are with you every step of the way. Your only Court appearance is the Creditor’s Meeting. However… 1) We go to Court a lot and we see cases filed by other Law Firms. The Creditor’s Meeting is where we have seen many others get into trouble. 2) If you do not have a Firm that spends the time to ask you a lot of questions, there

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We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

Our St. Louis attorneys represent individuals in the Eastern District of Missouri.