O'Fallon Bankruptcy Attorney

Resolving Your Financial Problems Effectively

If you have fallen into financial trouble and are currently overwhelmed with debt, it is important to know that you have legal options. Here at Adams Law Group, we provide a caring, nurturing environment where people can tell their story and receive the helpful counsel they need to move forward. Regardless of whether you are dealing with credit card debt, foreclosure, wage garnishments or any other type of debt, our O'Fallon bankruptcy lawyers will help you determine the best path towards a stable financial future.

General Info about O'Fallon

With a population of 79,329, O'Fallon is the largest municipality in St. Charles County and the seventh largest in the state of Missouri. It is considered to be part of the St. Louis Metropolitan Statistical Area, and has been voted as one of the "Best 100 Places to Live" by Money Magazine. According to the 2010 census, there were 28,329 people, 28,234 households, and 21,436 families residing in the city. Approximately 89.9% of the city is White, and 61.6% of the households are married couples living together.

The median age of the population in O'Fallon is 34.3 years, and 30% of the residents are under the age of 18. The majority of this fragment of the population is likely to be dependent on their parents or legal guardians for financial provisions, and any financial problems with parents will have a direct impact on children. It is estimated that the median income for a standard household in O'Fallon is $60,179 and the median income for a family is $64,627. Only 3.3% of those under the age of 18 and 6.7% of those 65 years and older are living below the poverty line, and 2.6% of families are below the property line.

Helpful O'Fallon Resources
O'Fallon City Website
About O'Fallon

Looking for Financial Relief in O'Fallon?

With such a high percentage of families with dependent children, it is not uncommon for families to experience financial hardships. When you and your family are going through a tough time, you deserve a legal advocate who will go above and beyond to help. Here at Adams Law Group, our bankruptcy attorneys understand what you are going through and the steps that must be taken to be free of debt. We understand that you may be skeptical about the benefits of filing for bankruptcy, and we will take the time to walk you through the specific ways that bankruptcy will help with your specific situation.

As experienced legal professionals, our team can help you see signs of trouble that your finances may be headed for danger. If you have fallen behind in your bill payments, you are a homeowner who is deeply in debt, you are unable to make the minimum payment on your credit card, or you have been laid off, it is important to seek legal help before it is too late! We will come alongside you and your family and put a stop to these signs of trouble before they become a full-blown financial disaster. If you are already in over your head, we will help you decide between Chapter 7, Chapter 13, or another bankruptcy alternative.

Chapter 7 Bankruptcy vs. Chapter 13 Bankruptcy

The two most popular types of bankruptcy available today are Chapter 7 and Chapter 13. These two options are very different, however, and understanding the ways that they differ will make a significant impact in the outcome of your case. Chapter 7 bankruptcy is the most common type of bankruptcy filed because it allows individuals to discharge most of their unsecured debts. Unsecured debts include credit cards, medical bills, term deposits, unsecured loans and any other type of debt that is not secured by a lien. The entire process of filing for Chapter 7 and achieving a dismissal of debts takes approximately 4 months, and once a debtor has filed, creditors are legally required to stop all collection efforts.

In order to utilize the many benefits of Chapter 7, however, you must qualify based on your Median income. The state of Missouri has a list of the maximum amount of income that individuals and families can earn in order to be eligible for Chapter 7, but those who do not qualify can find protection and debt relief under Chapter 13.

A Chapter 13 bankruptcy is commonly referred to as the "reorganization bankruptcy" because a debtor proposes a three to five year repayment plan to pay off part or all of their debts. Unlike a Chapter 7, a Chapter 13 plan allows the debtor to keep his home and non-exempt property if they can stick to the terms of their repayment agreement. Several factors will be taken into consideration before determining how much the debtor has to repay. The skilled O'Fallon bankruptcy lawyers at our firm will help you determine which type is best for you and your family, so call today and schedule a free case evaluation!

Bankruptcy Resources
Bankruptcy Information Center
U.S. Bankruptcy Courts in Missouri