Missouri Bankruptcy Law

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• Missouri Bankruptcy Law: an overview

  Missouri Bankruptcy law provides for the development of a plan that allows a debtor, who is unable to pay his creditors, to resolve his debts through the division of his assets among his creditors. This supervised division also allows the interests of all creditors to be treated with some measure of equality. Certain Missouri Bankruptcy proceedings allow a debtor to stay in business and use revenue generated to resolve his or her debts Read More... Posted Saturday, November 22, 2008 5:35 PM by admin | 0 Comments Filed under: missouri bankruptcy attorney, bankruptcy rules, filing bankruptcy missouri, missouri bankruptcy law

• Different Types of Missouri Bankruptcy

  Chapter 13 Chapter 13 is often called a “wage earner plan” and is available to individuals with regular income. In Chapter 13, the debtor makes a fixed monthly payment to the Chapter 13 Trustee who distributes money to the debtor’s creditors. Unlike Chapter 7, in exchange for making monthly payments, the debtor may retain possession of his assets and will receive a discharge at conclusion of the plan (3 to 5 years). Read More... Posted Saturday, November 22, 2008 3:26 PM by admin | 0 Comments Filed under: missouri bankruptcy attorney, bankruptcy rules, missouri bankruptcy law, Clerk of Court

• What is Missouri Bankruptcy?

  There are six types of bankruptcy: Chapter 7, 9, 11, 12, 13 and 15. This material discusses Chapter 7 and 13 bankruptcies – the chapters most commonly used by consumers. Chapter 9 is for municipalities. Chapter 11 is typically for business reorganization. Chapter 12 is for family farmer and fisherman reorganization, and Chapter 15 is to recognize a foreign bankruptcy proceeding. Read More... Posted Saturday, November 22, 2008 1:25 PM by admin | 0 Comments Filed under: missouri bankruptcy attorney, bankruptcy rules, missouri bankruptcy law, Eastern District of Missouri