What does a rise in Median Income Levels mean to you? Starting May 1, 2012 the Median Income Levels went up in Kansas and Missouri. In addition the IRS National Standard Deductions changed. If you have been considering filing for Bankruptcy this means that you may be more likely to qualify for a Chapter 7…
Category Archives: Bankruptcy Law Blog
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Bankruptcy Filing Fees Increase Effective November 1, 2011
The Judicial Conference of the United States Bankruptcy Court has announced an increase in bankruptcy filing fees effective November 1, 2011. The filing fees are paid directly to the court usually in full at the time a debtor’s case is filed. The filing fee for a chapter 7 bankruptcy case will increase from $299.00 to…
Chapter 7 and 13 Bankruptcy: Line-by-Line Workshop
I enjoyed presenting yesterday at the National Business Institute’s Chapter 7 and 13 Bankruptcy: Line-by-Line Workshop. We covered a lot of information about bankruptcy in a short number of hours. I really appreciated all of the questions and discussions posed by the Attendees! I spoke on Consumer Bankruptcy Fundamentals: The basics of Chapter 7, 11,…
Feel Guilty About Considering Bankruptcy?
So many times we see our bankruptcy clients in anguish over the thought of wiping out their debt. They feel guilty about walking away from their creditors. In some cases the dilemma is obvious; the small town doctor who agreed to bill you for your office visits – resulting in a small debt or the…
State Bankruptcies
The new bail out plan? State unfunded pensions, labor contracts, general obligation bonds – all unsecured debt? The former Speaker of the House is calling for a bill to support state bankruptcies. Should states be able to file bankruptcy? They cannot right now because they are considered sovereign. Proponents of the bill however say that…
Is it Time to File for Bankruptcy?
“Many people look forward to the new year for a new start on old habits.” Author Unknown. We rang in the New Year about two weeks ago toasting family and friends with hopes of following through on those pesky New Year resolutions. There is an abundance of advice on how to stick with those resolutions…
Retirement and Bankruptcy
Filing bankruptcy in retirement may not be such a bad idea by Cindy Perman, CNBC.com, is a good read for today’s retired population and their families. The article discusses the financial struggles retirees are experiencing due to poor insurance coverage, rising medical expenses, and inadequate living adjustments in Social Security, pensions, and retirement accounts. Family…
Why is Bankruptcy a Dirty Word?
A local news channel, KCTV 5, was interviewing a woman who had filed bankruptcy in a piece titled Bankruptcy a Blessing? The woman stated, “Bankruptcy is a dirty word. But, it saved our lives, it really did.” I was amazed that this woman was so relieved, yet refused to have her face shown during the…
What is Your Free Credit Report Saying About You?
Accurate credit reports are essential for today’s consumers, so they can receive the best financing options available.
It is important for all consumers to understand how and what kind of debts are reported on a credit report. The information reported on your credit report will determine your credit score.
