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Think of Bankruptcy as Your Own Personal "Bailout"

In the St. Louis area, those filing for bankruptcy should consult with the attorneys at the Castle Law Office. We have dedicated our practice towards helping those with insurmountable debt ever since our founder, Jim Brown, was forced to file for bankruptcy himself during his law school days. With the economy as bad as it is right now, we know that people all over Missouri and Illinois are feeling the weight of debt, and we want you to know that you have options. If you or a loved one in St. Louis or anywhere in eastern Missouri is considering filing for bankruptcy, contact the Castle Law Office for a free legal consultation today.

Unless you have been living in a cave, you have probably heard about the bailout. Even if you aren’t particularly attuned to the news, even if you read the Post Dispatch just for the comics and the Sports page, even if you wouldn’t know Fox News from Michael J. Fox or CNN from the IRS, somewhere along the way you have heard about the Federal government giving over $700 billion dollars to Wall Street firms that had miraculously managed to burn through the majority of their money (or actually our money if you think about it) in a ridiculously short period of time.

The Federal government realized that so much of our money was tied up in the health of these institutions (in terms of stocks, pensions, retirement accounts, etc.) that to do nothing and to let these banks and securities firms simply fail would cause millions of Americans to lose their savings and investments, and there was also the real danger that the economy would slide into a pit not seen since the Great Depression.

There is a lot to consider here. Many of you are probably wondering why so many politicians decry the idea of welfare and then have no problems providing welfare on a HUGE scale to billionaires. Many of you are probably wondering why the government is so free and easy with their pocketbooks when it comes to the financial health of enormous, multibillion dollar financial conglomerates and aren’t offering much help to people like you and me.

But believe it or not, our laws do contain relief for Americans who find themselves burdened with financial debt and are unable to live their lives under its weight. While these laws don’t constitute a “bailout” in that they don’t give you free money to pay your debts, what they do is either negate your debts altogether or set up a system so that you can pay off at least a portion of your debt without being harassed or intimidated by debt collectors or being forced to give up property that you already own.

These laws are our bankruptcy laws, and as individuals you may be eligible for either Chapter 7 protection, which basically cancels your debt, or Chapter 13, which basically sets up a payment plan that you can live with. Either one of these options can help you get your life back on track and either start over or resolve your debt. Who wouldn’t want that?

People are forced to declare bankruptcy for all sorts of reasons. They could lose their jobs, become ill or get into an accident, or just have a run of bad luck. Whatever the reason, there is no shame in taking legal steps to clear your finances and to get your life back in order.

At the Castle Law Group, we take pride in helping people all over St. Louis get past the nightmares of debt and collection agencies. We take a complete financial picture of all of our clients, determine the extent of their debts, and help them qualify for the bankruptcy that suits them the best.

If you, a friend or a loved one is deep in debt and doesn’t see a way out, contact the Castle Law Office for a free legal consultation today.

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