If you are a small business owner needing to file Missouri or Illinois Chapter 7 bankruptcy, you may be wondering what happens to your business debt. In terms of Chapter 7 bankruptcy, debt is divided into two categories. Some debts are dischargeable, meaning they can be eliminated through Chapter 7 bankruptcy. Examples of dischargeable debt include personal loans, credit card debt, medical bills, leases and most income tax debts over three years old. A smaller list of debts, however, is non-dischargeable. That means that they cannot be completely eliminated through bankruptcy. Non-dischargeable debts include student loans, alimony, child support, income tax debts less than three years old and criminal fines. Continue reading

The difference between someone who comes in to see me for the first time and someone who leaves my office after filing their Missouri or Illinois bankruptcy case is tremendous. The attitude is like day and night. At first, many are tense, confused, and frustrated. Being under overwhelming amounts of debt is stressful—and it is clear in the faces of those who first come into my office. By the time they leave after filing their case, however, their spirits are suddenly lifted. They can feel the burden of debt leaving and their new lives being closer than ever. Continue reading

I know firsthand that a bad bankruptcy is uncomfortable and unsettling. I filed bankruptcy myself while in law school and my experience was not all it could have been. That is why, when I graduated from law school, I decided to be the best bankruptcy attorney Missouri and Illinois had ever seen. But, how do you know when you’ve found a St. Louis Missouri or Fairview Heights Illinois bankruptcy attorney who is going to give you the best experience possible during your Chapter 7 or Chapter 13? Continue reading

As a St. Louis Missouri bankruptcy attorney, I have spent the last 15 years helping people on both sides of the river. We recently just opened up a Fairview Heights location of Castle Law Office to make it more convenient for people in Illinois to file Chapter 7 or Chapter 13 bankruptcy. As an attorney practicing in two states, I know that sometimes the rules can vary from state to… Continue reading

After a depressing foreclosure rate in 2009, many are looking for more hope in 2010. Unfortunately, with the loan modification program failing to meet expectations and the job market having yet to see a turn around, the foreclosure rate for 2010 is looking dismal. Experts are predicting that the foreclosure rate in Missouri and Illinois—and the rest of the nation—will continue to rise in 2010. Foreclosures are expecting to peak in late 2010 after joblessness peaks in mid-2010 and then, finally, start to decrease towards 2011. Continue reading

If your marriage is suffering from the amount of debt you are under, you aren’t alone. Debt has become one of the biggest causes of marital problems—and no doubt contributes to the ever-growing divorce rate. Luckily, the bankruptcy lawyers in Missouri and Illinois know a little secret that might take care of your debt problems, even if divorce is inevitable Continue reading

Being under crushing amounts of debt makes life painfully real. You have to find protection from foreclosure, make a contingency plan if your car is repossessed, and find a solution to your credit card debt all while maintaining your current job and taking care of your family. It is an awful lot to expect of someone—which is why many consider Chapter 7 bankruptcy. But how will you know when to file Chapter 7 bankruptcy or if Missouri or Illinois Chapter 7 is right for you? Here are a few reasons to consider Chapter 7 as a solution to your debt problems. Continue reading

When you are suffering under crushing amounts of debt, nothing sounds quite as scary as having to sit in a room with all of your creditors at once. Luckily, that picture is not exactly a reality. When filing a chapter 7 bankruptcy in Missouri and Illinois, you must attend a 341 meeting (a.k.a. creditors’ meeting). It is a meeting at which a debtor will answer a series of questions from an appointed trustee about his or her financial affairs. But, surprisingly enough, the meeting of the creditors isn’t usually a stressful situation—especially if you have hired the best St. Louis Missouri or Fairview Heights Illinois bankruptcy attorney. In fact, creditors rarely even show up to your 341 meeting at all. Continue reading

Do you find yourself wondering who else has been in your position? Who else has suffered through overwhelming amounts of debt and been left needing protection from foreclosure, a solution to credit card debt, and a hiding place from the repo man? You may be surprised to see the celebrity names in the news this year for bankruptcy—and even more surprised to hear about the big companies who also needed to wipe their slate clean with bankruptcy. Continue reading

Opening up a bank account after Chapter 7 or Chapter 13 bankruptcy in Missouri or Illinois is often the first step people take to rebuild their credit. And the idea that you cannot open a checking or savings account after bankruptcy just isn’t true, just like many other myths about bankruptcy. Getting a new account is a great way to start feeling normal and responsible again but there are, however, some secret tips to choosing the right bank and getting the right account. Continue reading