Pre-petition debt – Post-petition debt … What do they mean? It all comes down to when you incurred the debt. Meaning, what is the date that you bought something, charged something, or borrowed funds. Why do we care? In bankruptcy cases, the ‘when’ of these actions is a big deal. It can mean the difference [...]
November 1, 2023 Median Income Levels for Kansas and Missouri Bankruptcy Filers The Means Test looks at your Median Income to determine for which Chapter of Bankruptcy you qualify: Chapter 7 or Chapter 13 Most individual debtors filing for bankruptcy relief are required to complete a version of Bankruptcy Form 122. On November 1, 2023, [...]
Walden & Pfannenstiel, LLC: Wednesday’s Client – Wins… Aaron and Rachel Wilson’s Journey This young couple came to us struggling to make it on their current salaries, with a young child, a home loan and monthly credit card debt. In addition to their current debt situation, their old farm home was in serious need of [...]
Bankruptcy - A Chapter 7? A Chapter 13? A Chapter 20? As a consumer, what Chapter of Bankruptcy is right for you? Options are available. Chapter 7 Bankruptcy: A Chapter 7 Bankruptcy involves the collection and liquidation of non-exempt assets. The proceeds of the non-exempt assets are distributed to your unsecured creditors. A Trustee will [...]
BANKRUPTCY : CHAPTER 13 DEBT ELIGIBILITY LIMITS 2022 Increases In Filing And Exemption Limits For Bankruptcy Cases - The debt limitations are adjusted every 3 years. The Judicial Conference of the United States gave notice of the changes going into effect for cases filed after March 31, 2022: Chapter 13: Debtors have the option of [...]
