It is important for you to understand that while Bankruptcy St. Charles MO does have the potential to wash away some of your debt it only has the ability to wash away certain kinds of debts. Namely, it has the ability to wash away unsecure debts. Any secured debts would remain on your financial history and still have to be paid off. A secured debt just means you had to give some kind of financial compensation in order for them to give you the money or service. A car title loan is an example of a secured debt. You would have had to give the title of your car up as collateral if you did not pay the loan.
If you are someone who has a serious problem with debt, bankruptcy in St. Charles MO is something that can help you. First of all, it is going to wipe out all of your credit card debt as well as other unsecured debts. Unless you happened to sign up for a secured credit card it would wipe all of your credit card bills away.
Bankruptcy St. Charles MO will also stop all of the creditor harassment and collections activity. You either will not owe them money anymore or they will not be able to bug you for 3 to 5 years depending on whether you filed for Chapter 7 or Chapter 13. It can also eliminate a number of different liens. A lien is where a creditor takes away your right to something you own. This can be your home or your vehicle. When you file bankruptcy the lien would be removed.
When you consult with a law firm such as Law Offices of Steven K. Brown, the first thing they are going to do is sit down with you and make sure you do not have unrealistic expectations. Basically, this just means they want to make sure you know what filing bankruptcy means for you. Filing bankruptcy is not going to stop secure creditors from repossessing your property. It will also not eliminate your obligations to child support and alimony. It also will not get rid of student loans or tax debts either.