What Are The Illinois And Missouri Bankruptcy Questions?

People who are thinking of filing bankrutpcy typically want to know what kind of

questions they will have to answer--and understandably so! In a bankruptcy, you will probably have to reveal everything to your St. Louis bankruptcy attorney.

Why do you have to give up some much information? The Illinois and Missouri bankruptcy questions aren't designed to make you reveal everything about your life, just to make sure that your Missouri or Illinois bankruptcy lawyer has an accurate picture of your financial situation. Without a complete idea of what kind of shape your finances are in, your bankruptcy attorney can't make a plan that will get you completely out of debt.

You aren't going to need to tell your attorney what you got on your pizza last night or the last book you read, but you are going to have to talk about your debts, your creditors, your belongings and their values along with income and expenses. This snapshot of your financial situation gives a great St. Louis bankruptcy attorney the tools he or she will need to figure out what debts can be eliminated, what debts you must pay back, and how to keep the property that you don't want to lose.

The only person you are hurting by not being truthful is yourself. All the time and energy that you put into your bankruptcy could be wasted. More importantly, intentionally giving false or misleading information to the bankruptcy court could lead the Trustee to believe you are attempting to bankruptcy fraud. The simplest consequence is that your case could be dismissed. You could, however, face more serious consequences like fines or even jail time.

Missouri and Illinois bankruptcy are very powerful tools, backed by federal law. Bankruptcy can provide you with benefits that no other tool canprotection from foreclosure, relief from wage garnishments, a solution to credit card debt, and much more. However, in order to get this very strong protection, you must be honest with yourself and your St. Louis bankruptcy attorney.

Answering these questions is a help to you, not a hindrance. In my experience, clients don't have trouble answering them. Just keep the goal in mind. At the end of the process, you will have a fresh start for you and your family. A great bankruptcy attorney in St. Louis will help you make sure you've got the right questions answered and avoid any other mistakes that could get your case dismissed.

by: Jim Brown

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