ICYMI: Bankruptcy Filings Take Sharp Drop On August 1, 2022 the US Courts published the following information regarding bankruptcy filings: Personal and business bankruptcy filings took a sharp drop in the twelve-month period ending June 30, 2022, falling 17.7 percent compared with the previous year. According to statistics released by the Administrative Office of the [...]
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 [...]
Will the Trustee come to my house? Is the Trustee going to go through all of my stuff? How is the Trustee going to know what needs to be sold in my case? What Clients often think will happen: Many of our clients want to know when the trustee will come to their home to [...]
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 [...]
Can I file bankruptcy with perfect credit? I pay all of my debts on time (but I'm struggling) . . . Can I still file? Yes. Your credit history does not influence your ability to qualify for Bankruptcy. There are no rules or requirements related to your credit you must meet when filing for bankruptcy. [...]
Will my credit score be ruined if I file for bankruptcy? Will I ever be able to get credit again after I filed for bankruptcy? You may be surprised! This is a common question and concern for those considering bankruptcy as an option to relieve their debt stress. You may be surprised to find that [...]
Do I have to hire a Bankruptcy Attorney? Or can I represent myself in Bankruptcy Court? Simple answer: no you don't have to hire an attorney and you may represent yourself. We get this question a lot and we get it... We know that funds are already tight -- that's why you are considering bankruptcy. [...]
Requirements must be met to file a Chapter 7 Bankruptcy Case Meeting those requirements, doesn't mean that filing a Chapter 7 bankruptcy case is in your best interest. The two chapters of bankruptcy utilized by most consumers are chapter 7 or chapter 13. A case filed under chapter 7 will be a shorter case, where [...]
The Means Test looks at your Median Income to determine for which Chapter of Bankruptcy you qualify: Chapter 7 or Chapter 13 As of April 1, 2014 the Median Income Levels will change once again. Median income levels are up across the board in both Kansas and Missouri – no foolin’! Due to these changes, [...]
The Means Test looks at your Median Income to determine for which Chapter of Bankruptcy you qualify: Chapter 7 or Chapter 13 As of November 15, 2013 the Median Income Levels changed once again. Kansas single filers will see an increase while larger families have taken a hit. This comes after the Median Income increases [...]