Chapter 7 Bankruptcy Attorney In St. Louis, Missouri

Although Chapter 7 bankruptcy is considered a “liquidation bankruptcy,” the vast majority of Chapter 7 bankruptcies allow you to keep your home, car, and possessions, while eliminating most to all of your outstanding debts. This type of bankruptcy often applies to common debts such as credit cards, medical bills, or personal loans.

To be eligible you must be able to pass the “means test,” which is a formula based upon your income and household size. A simple phone call to my office can help you determine whether you pass the means test and whether you qualify for a Chapter 7 bankruptcy. The means test is a formula that looks at an individual’s disposable income, relative to the median income for his or her area.

Don't hesitate to reach out to me with any questions you might have about Chapter 7 bankruptcy and the deductions you might be able to utilize. At AKS Law, I proudly work with clients throughout the St. Louis, Missouri area, including individuals in Washington, St. Charles, and St. Louis County.