Consumer Bankruptcy Lawyers in Wichita, Kansas

Find the right Consumer Bankruptcy attorney in Wichita, KS

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

Chapter 7 Bankruptcy in Wichita, Kansas

There are 2 main forms of consumer bankruptcies in Wichita, Kansas: Chapter 7 and Chapter 13 bankruptcy. Chapter 7 states that a certain percentage of the debtor's property be liquidated to pay off at least a small part of their debt. However, many forms of property are exempt, and do not need to be liquidated, such as cars, homes, insurance policies, and retirement accounts.

Once all non-exempt assets are sold, and the money from the sales turned over to the creditors, most remaining debt is discharged. But some forms of debt cannot be discharged through Chapter 7 bankruptcy. These include child support payments, student loans, and criminal fines, among others. If most of your Wichita, Kansas debts are not dischargeable, you may want to consider options other than bankruptcy.

Chapter 13 Bankruptcy in Wichita, Kansas

Chapter 13 bankruptcy in Wichita, Kansas is markedly different. It may or may not be a better option than Chapter 7, depending on the facts of your particular case. Chapter 13 does not eliminate any debt, but it creates a new payment plan that should give the debtor some breathing room. Typically, all of the debts are consolidated into 1 periodic payment. While this may make it take longer to pay off the debt, if the debtor is willing to make a few sacrifices, the plan should be manageable.

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

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

Of course, you should always seek the counsel of an accomplished local Wichita, Kansas bankruptcy attorney before you make the decision to file. He or she will be able to advise you of your options, and suggest the best possible course of action for your particular situation.

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Life in Wichita

Wichita is the county seat of Sedgwick County in Kansas. With a population of over 372,000, it is the most populated city in all of Kansas, and ranks as the 51st largest U.S. city. In 2008, Wichita was named the #1 most affordable city to live in by MSN Real Estate. Newsmax Magazine has also named it the most "Uniquely American City". Due to its history in aviation and airplane science, Wichita is known as "The Air Capital of the World".

The city of Wichita has undergone considerable development over several decades. Old Town Wichita was renovated in the 1990's to include a hybrid-zone neighborhood complete with restaurants, hotels, residential homes, and nightclubs. Wichita also has several major shopping malls, a few of which host over 100 tenants.

Wichita is also a hub for academic and learning opportunities. Wichita State University, Newman University, and other technical and community colleges have established a presence in the city. Notable residents of Wichita have included actress Kirstie Alley, and Ann Durham, the mother of President Barack Obama.

Lawyers in Wichita, Kansas assist their clients by filing claims through the Municipal Court of the City in Wichita. Wichita's municipal court is the largest, most established municipal court in the state of Kansas. Also, many Wichita lawyers handle more complex legal claims in the 18th District Court for the County of Sedgwick.

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