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Chapter 12 Bankruptcy in Missouri: Protecting Your Farm

When things go bad economically, family farmers can find that their home and their livelihood are both at risk due to factors they can’t control. Climate change, extreme weather, fires, crop failures, and market and seasonal fluctuations can all negatively impact their income and leave them with debts they are unable to pay.

Taking into account the unique challenges and problems of family farmers, the United States Bankruptcy Code has created a special type of bankruptcy – Chapter 12 – that helps farmers ride out financial difficulties and provides a way to get out of debt. Chapter 12 bankruptcy offers a special path that allows financially distressed Missouri family farme [...]

Means Test in Missouri: Do You Qualify for Chapter 7?

Many people who find themselves in a situation where they are overwhelmed with debt, being harassed by creditors, and faced with the possibility of losing their home and possessions, look for relief through filing for Chapter 7 bankruptcy.  Chapter 7 is the most common form of bankruptcy for consumers as it eliminates most unsecured debt such as credit card and medical debt. It is over in a few months, so it allows you to get a fresh financial start and begin rebuilding credit quickly.

However, not everyone is eligible for Chapter 7. Your income and debt will be subject [...]

Choosing the Right Bankruptcy Lawyer in Missouri: Key Factors

No one wants to have to file for bankruptcy, but if your financial problems have gotten to the point where you are being harassed by creditors and faced with the possibility of losing your home and possessions, bankruptcy may be the best choice available.  Bankruptcy is a legal way to help consumers start over with a clean financial slate, but bankruptcy laws are complicated and there are several types to choose from. Depending on your individual situation, income level and debt, either Chapter 7 or Chapter 13 bankruptcy may be most appropriate.

While a successful bankruptcy can leave you in a better financial state, filing is a complex and detailed legal process that involves [...]

Chapter 13 Bankruptcy in Missouri: Reorganize Your Debt, Rebuild Your Life

When debts pile up and become overwhelming, you find yourself being harassed by creditors demanding payments, and you are faced with losing your home and other possessions, the good news is that there is help available. Chapter 13 bankruptcy provides an opportunity to reorganize your debts, start rebuilding your life, and get yourself on the road to a brighter financial future.

While no one wants to have to file for bankruptcy, there are times when doing so is your best option. A successful Chapter 13 bankruptcy allows you to keep your home and other property, including nonexempt assets, while paying a portion of your debt via a court-approved repayment plan you can affo [...]

How Do I Create an LLC in Missouri?

If you are starting a new business in Missouri, one of the first decisions you must make is to choose the structure that works for you. It is possible to set up your business as a Limited Liability Company (LLC), an S-Corporation, a sole proprietorship, a partnership for two or more people to own a business together, or some other business structure.

LLCs are a popular choice for small businesses due to their flexibility, limits on personal liability, and tax advantages. The following are things you need to do when creating an LLC in this state.

Steps to Create an LLC in Missouri

There are several tasks to setting up an LLC. Before doing anything, consider [...]

Myths We Tell Ourselves About Estate Planning

Estate planning is something many people keep putting off as no one wants to think about their death. However, having a properly executed estate plan in place offers peace of mind and serves to preserve your property, prevent disputes, provide for your family, address situations should you become incapacitated, and lay out your wishes to make the administration of your estate as simple as possible.

Without a clear will and estate plan, your assets will be distributed according to Missouri intestate succession laws that determine how your assets will be distributed, and the people you wish to inherit assets may not receive them. Instead, your affairs will be sorted out through th [...]

What Happens if You Die without a Will in Missouri?

Creating a will and estate plan is often one of those things we put off, thinking we’ll get to it tomorrow, or next week, or before the end of the year.  But what happens if you die unexpectedly without a will in Missouri?  None of us wants to think about that, but we should.

Creating a will and an estate plan now means that we are caring for our loved ones by preventing a lot of headaches for them in the future.  Having a will and estate plan in place offers peace of mind and serves to preserve your property, prevent disputes, provide for your family, and lay out your wishes to make the administration of your estate as simple as possible.

Without a clear will, yo [...]

Is It Possible to Declare Bankruptcy For Student Loans?

If you are wondering “Can you file bankruptcy on student loans?” then you’re not alone. Many students take out large student loans during college and struggle to pay them back. That’s because college tuition seems to increase significantly each year, but annual salaries for jobs just out of college don’t pay enough to meet monthly student loan repayment obligations. It’s a trap that many people fall into.

While in most instances student loans cannot be discharged through bankruptcy, this is not always the case. There are certain circumstances where you can discharge student loans, and laws regarding bankruptcy have changed to make it easier to get relie [...]

Can I File Bankruptcy Without My Spouse Knowing?

Married individuals are allowed to file bankruptcy without their spouse in Missouri, so it can be possible to file without your spouse knowing about it.  However, this does not mean it is a good idea to do so, or even to file individually with your spouse’s consent.  Bankruptcy laws are complicated; there are consequences to filing incorrectly; and there are many factors you should consider in order to determine whether filing bankruptcy with or without your spouse makes the most sense. It can help to consult with an experienced Missouri bankruptcy lawyer who can examine your individual situation and help you determine which type of bankruptcy is best for you, whether you should file [...]

Why Farmers File for Bankruptcy

Farmers have always faced unique challenges for survival, such as extreme weather and seasonal and market fluctuations that can negatively impact their income, so it is not uncommon for them to be in a situation where they are faced with filing for bankruptcy.

Small farmers often struggle the most because they do not have the financial resources of larger corporate farming operations. Recognizing the importance of the farming industry, the United States created a special type of bankruptcy – Chapter 12 -- that makes it easier for family farmers to file and get out of debt. If successful, Chapter 12 allows farmers to discharge certain debts while protecting their land and other [...]

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