Legal Question in Bankruptcy in Missouri

All debts must be listed in a bankruptcy. If the creditor believed that at the time you obtained the credit cards, you did not intend to pay them, then it is possible that the creditor could object to your discharge of these cards on the basis of fraud. But a lot can happen in three months. Perhaps you believed your situation would improve--you would find a job, or a better job, etc., and you would then be able to repay these.

Generally, time periods are calculated from the time of filing. And preparing a bankruptcy petition is not a 20 minute job. For various reasons, it is sometimes advantageous to delay the filing of a bankruptcy. This does not mean you should delay obtaining an attorney and beginning preparation of the petition, if bankruptcy is the right financial option for you.

Filing a chapter 7 bankruptcy should not affect eligibility to obtain student loans. On the other hand, having a high debt-to-income ratio may well make you a less attractive credit risk.

Also, please be wary of "debt settlement companies" that promise to negotiate your debt. A few are legitimate services. Because so many are not, this service made the Missouri attorney general's list of Top Ten Scams of 2009.