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Bankruptcy Solo, LLC
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Your First Step to a Fresh Start
Your First Step to a Fresh Start

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There are many myths surrounding personal bankruptcy. Here’s a look at some of the most common myths.

Myth 1: Bankruptcy is Because of Financial Irresponsibility. Yes there are situations where this is the case. However, many people file bankruptcy due to circumstances that are outside their control. For instance, many bankruptcies are due to medical bills linked to unforeseen health issues. Other common reasons include loss of a job or divorce.

Myth 2: Bankruptcy Permanently Ruins Your Credit. Filing bankruptcy will impact your credit upon filing, however, after a year of filing bankruptcy most debtors find their credit scores have increased on average 125 points from the date of filing.

Myth 3: Bankruptcy Discharges all Past Debts. Unfortunately no. There are several types of debt that are not discharged by bankruptcy. Domestic support obligations such as alimony or child support cannot be discharged through bankruptcy. This also applies to restitution related to a prior crime and the vast majority of overdue taxes.

Myth 4: You Can’t File Bankruptcy if You have a Job. This is not true. Many people who are currently employed are able to qualify for bankruptcy if their income falls below a minimum threshold.

​Myth 5: You’ll Lose Everything. Filing for bankruptcy does not necessarily mean that you will lose all of your possessions. For the average person, most personal possessions are covered by exemptions.

Call Bankruptcy Solo, LLC today at 636-493-1700 to talk to an attorney and determine if you qualify for bankruptcy.

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Medical Bills and Bankruptcy

The continued rising costs of medical care, including prescription costs has placed a significant strain on a number of Americans including those with health insurance. A recent study continues to identify medical bills as one of the leading causes of bankruptcy. The study also indicated that unpaid medical bills may surpass mortgage debt and credit card debt despite more people getting access to healthcare insurance.

High insurance deductibles, copays, and medical costs make it difficult for families to manage necessary household needs and put further stress on finances.

Are you overwhelmed by the burden of medical bills and expenses? Contact Bankruptcy Solo, LLC at (636) 493-1700 to meet with an experienced bankruptcy attorney for a no-cost consultation where you can discuss your options for alleviating the burden of debt.

Source: Fox Business News

Credit Card Fraud in Bankruptcy

Many people file for bankruptcy to eliminate credit card debt which is typically discharged in bankruptcy. However, bankruptcy law states that any debt you obtained by fraud, misrepresentation, or false pretenses is nondischargeable in bankruptcy. This includes credit card charges or cash advances you never intended to pay back when you used your card. Credit card charges and cash advances are presumed fraudulent and nondischargeable under the following circumstances:

Charges for luxury items within 90 days of bankruptcy. Charging more than $650 on a single credit card for luxury goods or services (i.e., goods and services not reasonably necessary for your support or maintenance) within the 90-day period prior to filing your bankruptcy.
Cash advances within 70 days of bankruptcy. Obtaining cash advances of over $925 in aggregate during the 70 days preceding your bankruptcy filing.

It is important to consult with a bankruptcy attorney prior to filing bankruptcy. An attorney can help you to avoid these common mistakes and ultimately help you to get a fresh start. Call Bankruptcy Solo, LLC at 636-493-1700 or visit www.bankruptcysolo.com to discuss these and other complex legal matters at your free consultation.

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Take a Number Please – The Unresponsiveness of Attorneys

Unfortunately, and all too often, clients and prospective clients receive poor customer service from their bankruptcy attorney. A recent study by the ABA Law Practice Division’s Social Media, Legal Blogs, and Websites Committee uncovered a number of shocking statistics. The study found…

• Less than 1 in 10 prospective clients actually speak with a lawyer during their initial call

• For nearly 4 in 10 prospective clients, it took three or more days to receive a reply to a voicemail or web-generated form

I refuse to be in the majority. At Bankruptcy Solo, all phone calls and web generated forms are returned within 24 hours by an attorney. Call today at 636-493-1700 to take your first step to a fresh start.
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Bankruptcy vs. debt consolidation
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Hello all. I am a bankruptcy attorney practicing in the greater St. Louis area.

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Overwhelmed by the burden of debt? Bankruptcy allows you to become debt free faster and for less money than debt consolidation. You have nothing to lose by scheduling a free bankruptcy consultation. Join the long list of clients I have successfully helped to get out of debt.
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