Bankruptcy Law in Kansas and Missouri

Financial solutions to ease your burden

Since the 2008 economic downturn, more and more consumers find that bankruptcy is their path to a debt-free life. A Johnson County bankruptcy no longer holds the negative connotation it once did.

However, 2005’s Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) established stricter eligibility standards for consumers seeking relief in bankruptcy. This fact has complicated the process for many deserving families. At Fletcher & Rohrbaugh, LLP, experienced bankruptcy attorney Chris Fletcher works with you to understand your current financial situation and whether bankruptcy is the right option for you.

Chapter 7 bankruptcy

Consumers typically file bankruptcy under Chapter 7 of the bankruptcy code. This allows you to essentially wipe your debt slate clean. You might be a good good candidate for a Johnson County Chapter 7 bankruptcy if you meet the following criteria:

Are unable to pay your debts

Face potential suits from creditors

Qualification

To qualify for Chapter 7, you must pass a means test. If your income falls below the median income for families in Kansas or Missouri, based on U.S. Census Bureau statistics, you are usually eligible. If you earn more than this median income, the court considers the following to determine eligibility:

Your income over the past six months Mortgage payments Car payments

Back taxes due Child support due School expenses up to $1,650 per year Other circumstances that are unique to the client

If after deducting these expenses you can still pay $100 a month to creditors, you will not be able to file under Chapter 7. We can discuss alternative options.

Filing your petition

The process begins with filing the petition, schedules, and a statement of financial affairs with the U.S. Bankruptcy Court for the district in which you live. For instance, this could be the District of Kansas or the Western District of Missouri. To fill out the forms, you must also provide the following:

A list of your creditors and the amount of money you owe them Your income’s source, amount, and frequency

A list of all your property A detailed list of your monthly living expenses

After filing bankruptcy in Johnson County, your creditors cannot try to collect directly from you. Anyone you owe has to show the bankruptcy court, after a hearing, that they have cause to continue with collection.

Kansas and Missouri exemptions

Under Chapter 7, certain assets are exempt from sale by your court-appointed bankruptcy trustee. Fletcher & Rohrbaugh, LLP can help you determine which exemption schemes suit your property and assets. Depending on your situation, you may be able to keep most, if not all, of your assets including your home and your car.

Your trustee may sell your nonexempt assets, if any, to pay your creditors. In most Chapter 7 cases, there are no nonexempt assets to sell.

341 Hearing

Usually between 20–40 days after you file your petition, your trustee holds a first meeting of creditors, called a 341 meeting. You must attend that meeting. Your trustee can ask you questions under oath about your property and debts. So can your creditors, although they seldom do.

A debt relief agency, helping people like you file for bankruptcy relief

Overwhelmed by debt? Read our useful pamphlet, When You Can't Pay Your Debts.

Fletcher & Rohrbaugh, LLP can help you find the financial solution that is right for you. And, if bankruptcy suits your situation, we walk you through the process from start to finish, from qualification to filing to 341 hearing support, as well as communication as necessary with the trustee and creditors to ease your financial and emotional burden.

Experienced. Practical. Affordable.

When you seek debt relief, call the lawyers of Fletcher & Rohrbaugh, LLP at 877-260-2304 or contact us online to schedule your free consultation. We look forward to discussing your situation with you and leveraging the bankruptcy code to ease your burden.