Changes in the Bankruptcy Code Saint Louis MO

There have been changes in the bankruptcy code that debtors in Saint Louis must familiarize themselves with before they can file a petition. In the past many people would file without going through any form of counseling.

Local Companies

Eclipse Capital Management
(314) 725-2100
7700 Bonhomme Ave
Saint Louis, MO
Capitol Group Llc the
(314) 567-4225
12400 Olive Blvd Ste 328
Saint Louis, MO
Comfort Assurance Group
(314) 579-5001
12400 Olive Blvd Ste 340
Saint Louis, MO
Financial Services Lml
(314) 862-5514
6841 Etzel Ave
Saint Louis, MO
New Frontier Financial Services Inc
(314) 890-2077
9567 Page Ave
Saint Louis, MO
Armstrong Theodore M
(314) 862-4224
7730 Carondelet Ave
Saint Louis, MO
Longrow Holdings Inc
(314) 236-2248
7710 Carondelet Ave Ste 404
Saint Louis, MO
Family Investment Center
(314) 868-6850
2650 Lordan Dr
Saint Louis, MO
Ameriprise Financial Services
(314) 849-7601
50 Crestwood Executive
Saint Louis, MO
Moreland & Associates Financial Services
(314) 521-7100
6108 Madison Ave
Saint Louis, MO

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Changes In The Bankruptcy Code

Author: Peter Gitundu

Bankruptcy is a legally declared state in which an individual or corporation is not in a position to pay off their debts due to several reasons. Though many people believe that financial distress only happens to people who have irresponsible spending habit, there are other reasons that many people find themselves in. Uninsured medical bills, loss of a job and economic regression are some of the few that people unexpectedly find themselves in and as such they find themselves insolvent.

There have been changes in the bankruptcy code that debtors must familiarize themselves with before they can file a petition. In the past many people would file without going through any form of counseling. Today however, debtors cannot be allowed to file without going through some form of financial education. This is done twice, before and after the filing, with an aim of helping the individuals to know how to handle resources in the future.

Among the changes in the insolvency code is change in the automatic stay. The automatic stay stops the creditor from any collection action and a creditor who would like to continue doing so must have permission from the court. Those who have not been included in the list of creditors may not continue with the collection action against the debtor.

According to the changes in the bankruptcy code, non dischargeable debts are more as compared to the past code. Under chapter 13, the debtor should also know that there are debts that cannot be discharged as it was in the past. Debtors should seek the guidance of an attorney on these changes.


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