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New Madrid, MO
Bankruptcy Law
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How To File Bankruptcy In New Madrid, MO
Welcome!
LegalConsumer.com has provided free bankruptcy information to more than 10 million consumers since 2006, and the Free Means Test Calculator (November 1, 2022, Edition) has helped hundreds of thousands of consumers figure out where they stand in relation to the bankruptcy means test, created by the 2005 BAPCPA bankruptcy act.
Bankruptcy Means Test Calculator for New Madrid County
In addition to the means test calculator, this site has answers to your questions about bankruptcy:
Missouri Bankruptcy Exemptions
- What property can I keep if I live in Missouri?
- Can I keep my car if I live in Missouri?
- Can I keep my house if I live in Missouri?
- Can I keep my retirement assets?
- How do I claim property as exempt?
How Bankruptcy Handles Certain Debts
- Debts You Can Discharge
- Credit Card Debt
- Medical Debt
- Lawsuit Liability (if not from fraud or ___)
- Personal Loans
- Old Tax Debts for Years You Have Filed
- Debts You Cannot Discharge
- Debts You Can Discharge Only In Special Cases
- Secured Debts
- How Bankruptcy affects Co-Signers
- Chapter 7 Bankruptcy
- Chapter 13 Bankruptcy
How to File Bankruptcy in Missouri
- How does Chapter 7 bankruptcy work in Missouri?
- How does Chapter 13 bankruptcy work in New Madrid, MO?
- Can I file bankruptcy, on my own, or with the help of a lawyer?
- Can I File For Free Online?
Bankruptcy Court Info for New Madrid, MO
Free Bankruptcy Forms & Instructions
Bankruptcy Lawyers Near Me
- How can I find a good local bankruptcy lawyer near me?
- What should I expect from a bankruptcy attorney?
- Should I consider bankruptcy if I'm facing eviction?
Note: This website is updated as time permits. It is up to you to contact your local court and confirm and update any information you need. Information is not advice. Consult with a bankruptcy lawyer for advice about how the law relates to your exact situation.
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Missouri Bankruptcy Law
Bankruptcy Basics - (Basics)
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How Chapter 7 Bankruptcy Works in Missouri
How Chapter 7 bankruptcy can help you cancel your debts, protect your exempt property, and stop bill collectors. -
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How Chapter 13 Bankruptcy Works in Missouri
You can use Chapter 13 bankruptcy to get out from under the burden of your debts, protect important property, and stop bill collectors. -
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Do I have Options in Missouri Other Than Filing for Bankruptcy?
If your creditors will negotiate, if bankruptcy can't cancel most of your debts, or if you're truly broke, bankruptcy may not be the best solution for you. Here's how to decide. -
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What is the Automatic Stay?
Bankruptcy's ability to stop collection efforts is one of its main attractions to debtors stressed by harassment from bill collectors. But creditors may be able to get the stay lifted if they can show that it is necessary to do so in order to protect their interests. -
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Glossary of Important Bankruptcy Terms
From Adversary proceeding to Wage garnishment -
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Bankruptcy Basics Videos
The Federal Court system offers a series of videos (produced in 2010) on how the bankruptcy process works.
How To File Bankruptcy - (How to File)
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How To File for for Chapter 7 or Chapter 13 Bankruptcy in New Madrid, MO:
Step-By-StepSteps for filing bankruptcy in Missouri, from learning whether you qualify, to completing and filing bankruptcy forms, to discharging your debts and getting on with your life. -
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How Much Does It Cost to File for Bankruptcy in Missouri?
Tips for keeping bankruptcy costs down, from court filing fees to mandatory counseling costs to getting legal help. -
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Where Do I File for Bankruptcy in New Madrid, MO?
Most people file for bankruptcy in the federal district court closest to where they've lived for the past six months. -
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Working With the Bankruptcy Trustee
Filing for Chapter 7 bankruptcy means that you'll be dealing with a "bankruptcy trustee" who will be assigned to handle your case. The trustee's job is to gather all non-exempt property you own into the "bankruptcy estate" to determine what (if anything) can be sold and the proceeds distributed to your unsecured creditors. In most cases, there's nothing left — "no-asset" cases make up more than 90% of consumer chapter 7 cases — but the trustee will be looking. -
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Getting help from your local court to file bankruptcy without an attorney
You may be surprised to learn that every federal bankruptcy court has a special section just for people filing bankruptcy without an attorney. Learn how to use this information if you are thinking about filing for bankruptcy. -
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Do I need a lawyer to file for bankruptcy?
The law does not require to have a lawyer, and if your case is simple and you have few assets, you can successfully file a Chapter 7 bankruptcy yourself. Chapter 13? Not so much. And if you have property to lose, or you're not great with details, getting a lawyers help can be a good idea, no matter what kind of bankruptcy you're filing. Also a lawyer may find ways to help that you haven't' thought of -
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What is a 341 hearing (creditors meeting)?
Everyone who files for bankruptcy must attend a 341 hearing, which is also called a "creditors meeting." The meeting is conducted by the bankruptcy trustee assigned to your case. During the Coronavirus, it. can be done by phone. -
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Where do I file for bankruptcy in New Madrid, MO?
Bankruptcy is federal law and you file in the local Federal District Bankruptcy Court. Find out yours. -
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Do I have to get credit counseling before I file for bankruptcy?
Yes. You must complete a credit counseling course before you file your bankruptcy petition. Fortunately, it's easy and can be done online. And your case cannot be completed (i.e. you can't get your "discharge order" from the judge until you take a "Debtor Education" course.
Missouri Eastern District Bankruptcy Court Info - (Courts)
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Information about the Missouri Eastern District Bankruptcy Court
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Bankruptcy Court FAQ
What you need to know about how to get information you need bankruptcy court and what you're likely to encounter on court websites -
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What is CM/ECF?
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Can I file electronically (eSR) in Missouri Eastern District Bankruptcy Court? Am I Required To?
Can you file online? In some courts, yes, most no. But there are other options that can allow you to file electronically if your case is simple. -
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What does “pro se” mean?
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Will the court staff explain the filing procedure to me?
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What is a 341 Hearing?
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Glossary of Important Terms You're Likely to find in Court Websites
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What does “pro bono” mean
Bankruptcy Forms - (Forms)
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Table of Free Missouri Bankruptcy Forms
All forms for bankruptcy can be dowloaded for free. Here's what you'll need and where to find them. -
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Required Forms & Fees for the Missouri Eastern District Bankruptcy Court
Where to find the local forms required by your bankruptcy court. -
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Basic Forms You Will Need In Any Court
Here are links to the basic forms you need to complete to file your case. -
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Local Forms Required by the Missouri Eastern District Bankruptcy Court
In addition to federal forms. Some courts have their own local forms that you must use. Here's where to find them. -
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Free PDF Downloadable Bankruptcy Forms
An edited list of the main federal forms for use in all courts. -
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Getting Help With Forms & Filing
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Free PDF Downloadable Bankruptcy Forms
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Basic Forms You Will Need in Any Court
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Local Forms Required by the Missouri Eastern District Bankruptcy Court
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Getting help with forms and filing
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Bankruptcy Forms FAQ
Your questions about bankruptcy forms -
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Can I get free bankruptcy forms?
The US government makes PDF bankruptcy forms available for free. We'll tell you which ones you need and links to download them.
Means Test Calculator
Income & Expenses - (Income)
Income & Expenses - (Income)
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Is My Income Low Enough To Qualify for Chapter 7 Bankruptcy?
Means Test Standards for Missouri and New Madrid CountyA mathematical formula—called the means test—determines whether you qualify for Chapter 7 Bankruptcy in Missouri. The means test first looks to see if your average income for the past six months is below the median income in Missouri. And if it is, then it looks at whether would have enough "disposable income" to fund a five-year Chapter 13 debt repayment plan—after allowing for monthly expenses for food, housing, clothing, transportation and medical care, based in part on county-by-county expense standards for New Madrid County that the IRS uses in their nationwide tax-collections efforts. -
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Means Test Calculator for New Madrid County, For Cases Filed on or after November 1, 2022
The Means Test Calculator is an automated version of the official three-part test form. Just choose your zip code, and the calculator applies the relevant state median income and county living standards, based on the number of persons in your household, your marital status and what county you live in. -
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Means Test FAQ
The bankruptcy means test was added to US bankruptcy law in 2005 as part of the credt-card-industry sponsored bankruptcy law to weed out so-called "bankruptcy-abusers" -- hence the language about a "presumption of abuse" (just to make you feel extra ashamed for exercising your right to bankruptcy!). -
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Line by Line Help for the Bankruptcy Means Test
The official position of the U.S. Trustee's office of how to interpret issues arising in each line of the means test. -
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Income and Expense Standards - New Madrid County, Missouri - For Bankruptcy Means Test - For Cases Filed On or After November 1, 2022
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Missouri Median Income For Bankruptcy Means Test - For Cases on or after November 1, 2022
The means test initially looks to see if your household income is above or below median for a household your size in Missouri.
Debts & Dischargeability - (Debts)
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Free Online Student Loan Undue Hardship Affidavit For §523(a)(8) Discharge
It is now easier than ever to get rid of student loans in bankruptcy, thanks to a new guidance and affidavit offered by the Department of education for those seeking student loan discharge for undue hardship. Use this new tool to fill in the form and analyze whether you have a chance to succeed in an undue hardship claim. -
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What Debt Can Be Wiped Out In Bankruptcy?
Bankruptcy can eliminate some kinds of debts, like credit card debt and medical debt, but not others, like child support and (in most cases) student loans. And liens associated with "purchase money secured debts", where you have pledged collateral for a loan, also are not affected by a bankruptcy, so you can still lose the collateral to the lien-holder. -
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What Debts Will I Still Have To Pay After My Bankruptcy?
Some kinds of debts pass unscathed through bankruptcy, including child support, debts incurred through fraud or other bad acts, most student loan debt, more. -
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How Will Bankruptcy Affect My Child Support Obligations?
By law, child support obligations generally cannot be avoided in a bankruptcy. They pass pretty much intact. -
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Can I Get My Tax Debts Wiped Out In Bankruptcy?
If you filed tax returns but didn't pay, and the taxes are more than three years old, you may be in luck. -
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How Will Bankruptcy Affect Someone Who Cosigned One Of My Debts?
Co-signers will still owe the full amount of the debt, even if you you get your personal liability discharged in Chapter 7 bankruptcy. -
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Secured debt vs. unsecured debt: What's the difference?
Bankruptcy helps you get rid of unsecured debt. It does not eliminate secured debts, where you have pledged collateral for a loan, such as a car loan or a mortgage. When you file bankruptcy you must declare what you intend to do about your secured debts. -
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Medical Debt: What Bankruptcy Can Do About it
Medical debts are perhaps the most common reason people choose the "fresh start" option that bankruptcy gives them. Illness or injury, combined with loss of income can produce exactly kind of financial stresses that bankruptcy is designed to cure. Rather than be saddled with a lifetime of debt, bankruptcy can eliminate it, and give you a fresh start. Every state ranks differently. Find out how Missouri ranks. -
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Best Sources of Student Loan Undue Hardship Case Law
If you decide to challenge your student loan as dischargeable to due unto hardship, it's good take time to read other undue hardship cases you get a sense of what's required in order to prevail. -
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Student Loans §523(a)( 8 ) Undue Hardship Discharge Affidavit
If you decide to file an adversary proceeding to discharge under §523(a)(8) your student loans based on undue hardship, you'll have to fill out this affidavit from the Department of education. The Department will use this to determine if they stipulate that you are entitled to a discharge. -
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Can I Get My Student Loans Discharged or Reduced for Undue Hardship In Bankruptcy?
Discharging student loans in bankruptcy has always been more difficult than discharging other types of unsecured debt like credit cards. You have to prove “undue hardship.” But that got a bit easier as of November 2022 thanks to new Justice Department guidelines, telling their lawyers not to challenge debtors seeking undue hardship discharges if they meet certain criteria. -
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What is a Reaffirmation Agreement?
A "reaffirmation agreement" says that your personal liability for a debt goes unaffected by your bankruptcy. But because that's what bankruptcy is for, they should only be signed on rare occasions.
Property, Exemptions & Liens - (Property)
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Missouri Bankruptcy Exemptions - All Categories
A detailed listing of state and federal exemption laws, with statutory citations. -
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Is Missouri Adjusting Its Bankruptcy Exemptions for Inflation in 2023?
The Federal Government adjusts Federal exemption amounts every three years. Does Missouri adjust exemption amounts? -
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Missouri Exemption Updates
If there's changes in Missouri’s exemptions, here's where you'll find out about them. -
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Can I Use the Federal Bankruptcy Exemptions in Missouri?
Federal bankruptcy law has its own list of exemptions 11 U.S.C. § 522, but some states require you to use only the state law exemptions instead, while other states offer a choice of the state or federal exemptions. Find out what Missouri does. -
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Bankruptcy Exemptions FAQ
Your questions about bankruptcy exemptions, answered. -
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What Happens to My Property If I File For Chapter 7 Bankruptcy In Missouri?
It's important to have a good understanding of what will happen to your property if you file for Chapter 7 bankruptcy. -
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Can I Give Property Away To Friends Or Relatives To Avoid Losing It In Bankruptcy?
The short answer is “no.” Such transfers in the years before bankruptcy can be undone by the trustee. And if the court thinks you’re tying to hide assets they can deny your discharge. -
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Can I Keep Property That I've I Pledged as Collateral For a Debt?
When you file, you'll be asked by the court to decide what you want to do about property you've pledged as collateral, and then you have 45 days to act on it. Your options include surrendering the property, "redeeming" the property by essentially buying it outright at it's current (reduced) market value, or "reaffirming" the debt via a contractual agreement to retain your personal liability and keep making payments, or in some cases, "ride through" - that is, keep making payments on the secured debt even though your personal liability has been wiped out. -
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Can I Keep My Car or Truck If I File For Chapter 7 Bankruptcy in New Madrid, MO?
The answer is, it depends.. on a lot of things: Do you lease or own? If you own the car and are making payments on it, how much of the equity in the car is protected by exemptions allowed in Missouri? Most people who file for bankruptcy can end up keeping their car, or at least some kind of vehicle that can get them to work and back, but the answer depend on your particular circumstances. -
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What Will Happen to My House If I File For Bankruptcy in Missouri?
Whether you can keep your house depends on several things, your mortgage, your state's homestead exemption, and foreclosure rules in your state. -
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Missouri Homestead Exemption
How much of your home equity is protected if you file for bankruptcy in Missouri? -
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Can Bankruptcy Stop An Eviction in Missouri?
(Not permanently, but bankruptcy can get rid of back rent debt accumulated during the pandemic)Can bankruptcy help stop an eviction? Well, it can delay it, for an extra month or two, in some cases, in some states, if you file early enough in the eviction process. Bankruptcy can, however be a great solution to the problem of "back rent debt" accumulated during the pandemic.
Bankruptcy Lawyers & Other Help - (Lawyers)
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New Madrid, MO Bankruptcy Lawyers
How to find a bankruptcy lawyer serving New Madrid, MO -
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Connect With an Attorney Serving New Madrid
LegalConsumer has helped thousands of people like you connect with bankruptcy attorneys who can help them. -
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How to Find a Bankruptcy Lawyer Serving New Madrid, MO
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Directories of New Madrid, MO Bankruptcy Attorneys
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Ten Ways a Bankruptcy Lawyer Can Help You
Here are ten ways that a bankruptcy lawyer can help guide you through the bankruptcy process to make sure you take maximum advantage of what the law offers debtors. -
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Should You Use a Bankruptcy Petition Preparer (BPP)?
If you need clerical help -- not legal help -- a bankruptcy petition preparer can produce your bankruptcy court forms for a reasonable fee. -
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What is UpSolve, And How Does It Work?
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Directories of New Madrid, Missouri Bankruptcy Attorneys
Bankruptcy News - (News)
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What We're Reading About Debt & Bankruptcy
What We're Reading about Bankruptcy, Debt and Credit. Timely, useful articles, from reliable sources. -
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Daily News Sources on Bankruptcy
Where to read up on news about about debt, credit, and bankruptcy. These sources report frequently on issues of debt, credit, consumer finance, and student loans. -
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Credit Card news & Info
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Bankruptcy & Economic Statistics
Economic Statistics that relate to bankruptcy, such as savings rates, default rates, and outstanding consumer debt, secured and unsecured, like credit card debt, student loan debt, and auto loans. -
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Other Free Audio/Video About the Debt & Credit Industry
Good videos and audio information about bankruptcy, for those who listen better than they read... -
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Consumer News From Local News Affiliates
Many local news stations have consumer reporters who keep up to date on the latest benefits and other laws that affect consumers. -
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Tweets by @meanstest
What we're Tweeting, in our twitter accounts @meanstest (for bankruptcy) and @lawbyzip -
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LegalConsumer Bankruptcy Blog
The latest from our blog on bankruptcy news and legislation that affects consumers.