Consumer Bankruptcy Lawyers in Kansas City, Kansas

Find the right Consumer Bankruptcy attorney in Kansas City, KS

Bankruptcy is a legal procedure allowing a person or business to have their debts absolved, in part or in whole. It is normally treated as a last resort, because, while it can prevent financial catastrophe, it has some huge long-term consequences. This warrants careful consideration of the costs and benefits. Bankruptcy is a creation of federal law, and goes through federal courts. Therefore, the procedure governing bankruptcy in Kansas will be roughly the same as it is anywhere else in the U.S. But individual courts have different rules for what property is exempt, so you should consult a local Kansas City, Kansas before you file.

Chapter 7 Bankruptcy in Kansas City, Kansas

There are 2 common types of consumer bankruptcies in Kansas City, Kansas: Chapter 7 and Chapter 13 bankruptcy. Chapter 7 involves liquidation of some of a debtor's assets. It requires that a certain percentage of the debtor's property to be sold to pay off as much debt as possible. The majority of property that most people own, however, is exempt. This normally includes homes, vehicles, retirement accounts, and others. These are not available to creditors.

Once the qualifying property is sold, and the funds transferred to the creditors, the dischargeable debt is cleared. Some types of debt, however, can't be absolved in Chapter 7 Bankruptcy in Kansas City, Kansas. These include student loans, criminal fines, and taxes, among others. If most of your debt can't be absolved, Chapter 7 might not be the best choice for you.

Chapter 13 Bankruptcy in Kansas City, Kansas

In Kansas City, Kansas, chapter 13 is very different from Chapter 7, and may or may not be the best option for you, depending on your situation. Chapter 13 Bankruptcy involves a court setting up an adjusted payment plan, which allows the debtor to pay off most or all of his debts over a prolonged period of time, through monthly payments that should, assuming that the debtor is willing to make a few sacrifices, be manageable.

Which Type of Consumer Bankruptcy Should I File in Kansas City, Kansas

This depends entirely on the facts of your individual case. If you have a decent amount of steady income, and a large amount of non-exempt property which you don't want to part with, Chapter 13 might be the best option for you. If most of your property is exempt, and you don't have much steady income, Chapter 7 might be the best option.

In any case, it would be a good idea to consult a local bankruptcy attorney in Kansas City, Kansas. Your attorney can make an educated judgment as to what your best option is, and advise you accordingly (of course, the choice to file for bankruptcy is ultimately yours).

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Life in Kansas City

Kansas City is the third-largest city in the state of Kansas, with a population of over 145,000 people. It is also the county seat of Wyandotte County, Kansas.

Kansas City, Kansas was formally founded in 1868, and incorporated in 1872. Modernly, Kansas City, Kansas has a large and diversified economy. It is home to a major manufacturing plant owned by General Motors, which builds the Chevy Malibu and Buick LaCrosse, employing about 2,700 people.

In 2011, Google announced that Kansas City, Kansas has been selected to participate in its experimental Google Fiber project, which will deliver super-fast internet to members of the community, at no cost to the city, and low cost to the consumers.

For a city of its size, Kansas City, Kansas has a large public library system, making it a convenient place for lawyers to practice, thanks to the abundance of low-cost research materials.

If you need a lawyer in Kansas City, Kansas, chances are good that there's a Kansas City, Kansas attorney who can help you with whatever legal problem you might be facing.

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