UPDATES for Median Income Levels: 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. The Means Test is [...]
Families and Poverty -- How Can Your State Protect You … Fresh Start 2024. A report from the National Consumer Law Center (NCLC) shows how states lack in offering assistance and protection to its citizens. Every state has a set of exemptions that allow one to avoid losing everything to the creditors. Per the NCLC [...]
Will I lose my retirement if I file bankruptcy? Chapter 13 bankruptcy you repay your creditors through a 3 or 5 year repayment plan. The trustee in a chapter 13 case does not look for any of your property that he can sell for the benefit of the creditors, so your retirement would be safe [...]
Are your tools safe if you file a bankruptcy case in Kansas? Are your tools exempt as Tools of the Trade? Under the Kansas bankruptcy exemption statute, every person is entitled to claim “books, documents, furniture, instruments, tools, implements and equipment, breeding stock, seed grain . . . reasonably necessary in carrying on the person’s [...]
Is your car safe if you file for Bankruptcy? Will someone come take your car after you file your bankruptcy case? You can keep all personal property that is exempt. Under statute, every person residing in Kansas shall have exempt from seizure and sale upon any attachment, execution or other process issued from any court [...]
If you can keep your property will depend on your exemptions when you file bankruptcy. When you file for bankruptcy any property you own will be classified as exempt property or non-exempt property. Exempt property is safe during the bankruptcy. Non-exempt property can be sold for the benefit of your creditors. Each state is allowed [...]
