Bankruptcy Attorneys | St. Louis

How The Bankruptcy Law Changed in 2005

The most important thing to remember about the changes to bankruptcy law is that the new restrictions to personal bankruptcy filings are only bumps in the road, not bridges you can’t cross. You may have to jump through a few more hoops, but at least the solution is there for those who need it. If you need to file for bankruptcy, contact a lawyer at TBC today for friendly, fast, affordable service.

The New Bankruptcy Law: Don’t Sweat It
Yes, the new bankruptcy law has made the process of filing for bankruptcy more complex. Yes, the eligibility requirements are slightly more stringent. But for the vast majority of those who need to file for bankruptcy, the option is still there.

So, What’s Changed?
Good question. The first major change, in short, is that there is more paperwork. Apart from the extra court documentation, people filing for bankruptcy must provide more documentation about their current financial status. You’ll need your last 2 tax returns, and the previous six months worth of pay stubs. If you’ve thrown those away, don’t worry! Your employer should be able to print them off again for you.

Your attorney will advise you if more documents are needed for your case. You’ll also be required to speak with a credit counselor before you are allowed to file. Your attorney will set up a session online or over the phone for you.

Eligibility requirements have gotten tougher too, particularly for people who are filing for their second or third bankruptcy. The requirements are complicated, and it’s best to get bankruptcy information from a bankruptcy attorney first to make sure you qualify. If you had hoped to file for Chapter 7 Bankruptcy you may have to file for Chapter 13 Bankruptcy instead.

Before all of your debts are discharged, you must take a brief financial management course. Your TBC attorney can direct you to the one that is most convenient for you.

Proactive Bankruptcy Law

Lawyers at TBC have been extraordinarily proactive in challenging unfair bankruptcy legislation and debt collection practices in litigation. In fact, one of the partners at TBC was the lead writer for the amicus brief in the United States Supreme Court Case Till v. SCS Credit Corp., which ruled that debtors are entitled to use a lower rate of interest in repaying most of their creditors through a Chapter 13. If you need to file for bankruptcy and you want an affordable, friendly, and proactive bankruptcy law firm, contact one of the attorneys at TBC today.

Don't wait until till it may be too late to seek protection under the bankruptcy law. Schedule a FREE Consultation with one of our bankruptcy attorneys and learn how the bankruptcy law applies to your specific situation. Call TBC today at 314-961-9822


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