It may be difficult to initiate bankruptcy proceedings, but these days it is more common than many people realize. Thanks to changes in the law in the past few decades, it is now considered every person’s right to initiate proceedings and to clear yourself of any debt you may owe, particularly if you are overextended financially. Visiting an attorney who specializes in bankruptcy in St. Louis, MO, is your first step, and only these lawyers can help you decide what your best course of action should be.

Types of Bankruptcy Vary

There are several different types of bankruptcy, most noticeably Chapter 7 and Chapter 13. Both individuals and businesses can file, and most plans involve either a simple and convenient repayment option or total elimination of all your debt. Depending on how much debt you have and the type of debt it is, certain options work best for certain clients. Experienced law firms such as Van Dillen & Flood, P.C. can help you sort through the maze of laws so that in the end, you can find and use the plan that is right for you.

Lay it All on the Table

If you are going bankrupt, a good attorney will expect you to disclose all pertinent information so that they can determine the best plan for you. Whether you are in debt because you have gone overboard on your credit cards, or you have been the victim of something out of your control—such as too many medical bills—a good bankruptcy attorney can help. There is never a need to be embarrassed when you are in this situation. Lawyers are professionals who have the experience and knowledge to help you better your financial life, and they will make sure that in the end, you are on the road to financial recovery.