Kansas City Bankruptcy FAQ
Learn answers to commonly asked Kansas City bankruptcy questions
What will it cost to declare Kansas bankruptcy?
Debtors pay a legal fee before their case is filed, this fee is $790 for Chapter 13 and $1000 for Chapter 7 Kansas bankruptcy. Court filing fees are $274 for Chapter 13 and $299 for Chapter 7. Debtors filing for Chapter 13 Kansas bankruptcy also pay additional legal fees during the course of their bankruptcy plan.
How is Kansas City bankruptcy going to affect my credit?
Your Kansas bankruptcy will remain on your credit report for up to 10 years, and you may not be approved for certain loans for a period after filing. However, most people report that the practical effect of Kansas bankruptcy is minimal after 3 or 4 years of remaining current on their accounts.
Am I going to lose everything that I own?
No, you won’t. Our Kansas bankruptcy attorneys have years of experience and know how to protect your property. Most of our clients can usually protect at least their house, their vehicle, and their retirement savings from creditors.
Will my creditors stop harassing me?
They certainly will. As soon as you properly file with the Kansas bankruptcy court, your creditors will be stopped from contacting you in any way. An experienced Kansas bankruptcy attorney will make sure all the paperwork is in order, so that you can file and get your creditors off your back as fast as possible.
What exactly is the Kansas City bankruptcy process?
The place to start is in a free consultation with an expert Kansas bankruptcy attorney. Here you can explore all your options and find out if Kansas bankruptcy is right for you. Your attorney will help you decide which chapter of Kansas bankruptcy is best for you and help you get all the paperwork ready.
The Kansas bankruptcy court requires everyone to complete a credit counseling course before filing for bankruptcy. You can do this in a classroom, over the phone or on the internet. Your Kansas bankruptcy attorney will help you sign up for it.
Once you file with the Kansas bankruptcy court, the court notifies your creditors and stops them from attempting to collect any more money from you. This is called an automatic stay.
Your attorney will help you write a list of your assets (property) and debts. Your assets will be listed either as exempt or non-exempt. You will keep all your exempt assets after your Kansas bankruptcy. Your non-exempt assets may be taken from you and sold to pay your debts if you and your attorney do not make arrangements to pay the value of these assets in your bankruptcy. Your Kansas bankruptcy attorney understands the rules that determine which assets are exempt. Your attorney also knows how to get more, if not all, of your property protected under exemption or payment plans.
You and your Kansas bankruptcy attorney will go to a meeting with a trustee appointed by the Kansas bankruptcy court and your creditors. Your list of assets and debts will be reviewed. Your non-exempt assets, if there are any, will be addressed. You will also complete a personal finance management course either in a classroom, over the phone or on the internet. At the end of the case, all dischargeable debt will be discharged, or forgiven, by order of the Kansas bankruptcy court. At that point you will have successfully passed through Kansas bankruptcy and can live without the burden of debt!