Considering Filing for
Bankruptcy in Missouri?
Embrace a
Fresh Start!
Chapter 7 | Chapter 11 | Chapter 13
Chapter 7
Bankruptcy
Chapter 13
Bankruptcy
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St. Louis Bankruptcy Lawyer Helping Thousands Get Out of Debt!
We are a small but powerful firm that knows how to file bankruptcy in Missouri. We focus on providing affordable, effective solutions to the financial stress you’re facing due to money issues. We offer free consultations where we’ll review the financial issues you’re facing. We’ll also explain the types of bankruptcy cases you can file, the difference between chapter 7 and chapter 13 bankruptcy, and how bankruptcy can best help get you the debt relief you need. Wendell Sherk founded the Debtor Attorneys of Metropolitan St. Louis and is a member of the American Bankruptcy Institute, the National Association of Consumer Bankruptcy Attorneys, and the Missouri Bar.
Bankruptcy Services We Provide
Chapter 7 bankruptcy is a legal process designed to provide individuals and businesses with a fresh financial start by liquidating their assets to pay off debts. In simple terms, it involves the sale of non-exempt assets, and the proceeds are used to settle outstanding debts. This type of bankruptcy is often referred to as "liquidation bankruptcy."
Chapter 11 bankruptcy is a form of bankruptcy that primarily applies to businesses, allowing them to reorganize and continue operations while repaying creditors over time. It is often referred to as "reorganization bankruptcy." Unlike Chapter 7, which involves the liquidation of assets to pay off debts, Chapter 11 aims to help businesses in financial distress to stay afloat and eventually become profitable again.
Chapter 12 bankruptcy is a specific type of bankruptcy designed for family farmers or family fishermen facing financial difficulties. It provides a reorganization process, similar to Chapter 11, but with special provisions tailored to the unique challenges faced by those engaged in agricultural or fishing activities.
Chapter 13 bankruptcy is a legal process in the United States that allows individuals with regular income to develop a plan to repay all or a portion of their debts over a period of three to five years. It is often referred to as a "wage earner's plan" because it is particularly suited for individuals with a steady income who want to reorganize their finances while keeping their assets.
If you're struggling to handle a minor debt relative to your income and finding it challenging to manage your budget, considering enrollment in a personal financial counseling program might be a sensible step.
We'll recommend individuals to counseling when it's fitting. It's crucial to exercise caution when selecting credit counseling programs, as regulations may be lacking in numerous states, and unfortunately, some have been revealed as scams.
Bankruptcy Basics
Introduction to Bankruptcy Law
Bankruptcy is federal law. The operational parts of the process are broken into Chapters, so this is why people talk about filing “Chapter 13” instead of “a reorganization plan,” for example.
Bankruptcy can generally STOP most:
- Foreclosures
- Repossessions
- Lawsuits
- Garnishments
- Collection calls, threatening letters
Benefits of Bankruptcy
Debt Relief & Asset Protection
We can also solve many tax problems, debts left over from divorce, and even address some student loans and back child support. In many cases, you can keep all of your property and make a “fresh start.”
Usually this kind of Debt Relief is in connection with Chapter 7 or Chapter 13, and we explain them in more detail here.
Remember that in most years, more than a one and a half million families, and many major corporations, (like Border’s, Lehman Brother’s, TWA, Macy’s, Texaco and others) found that they could not pay their debts as hoped.
For some people it was layoffs and cutbacks, for others it was illness or unexpected expenses, or less-than-perfect planning, or the slow economy. But whatever the reason, they all took advantage of Chapters 7, 11, or 13 of the Bankruptcy Code to make a fresh start, while keeping all or most of their property.
Bankruptcy is
Misunderstood
Most Problems
Have A Solution
Why Listen
to Sherk Law
Financial Freedom is One Phone Call Away.
Call Our St. Louis Bankruptcy Attorneys.
In certain legal circumstances, having the support of a knowledgeable attorney is crucial. If you’ve been trying to handle your case independently without seeing the desired outcomes, consider reaching out to Sherk Bankruptcy in St Louis, MO. We are here to assist you in navigating the complexities of debt.
We prioritize providing our clients with attentive and personalized service. Our goal is to furnish you with the right information and legal choices, empowering you to make informed decisions about your next steps.
Since 1989, Sherk Bankruptcy has been a trusted resource for individuals in St. Louis Missouri. We are dedicated to offering convenience, transparent flat-rate plans, complimentary consultations, and flexible scheduling options throughout the week.
If you’re ready to improve your financial situation, don’t hesitate to schedule an appointment with us!
Wendell strives to use the bankruptcy laws to help you get rid of debt while strategically using Missouri’s bankruptcy exemptions to keep your property.
- Wendell’s peers consider him to be a top bankruptcy lawyer.
- He has received several awards over his career, including the Roser and Bauer Awards for Excellence in Bankruptcy.
- Our firm is small enough to give you and your case the attention they deserve, and experienced enough to protect your interests.
