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Ch 7 - bankruptcy is usually over after 4 months; clean start, no monthly payments;

In Kansas, a person filing bankruptcy will not lose their "tools of the trade" up to a value of $7,500.00 (usually double that amount if the spouse is involved with the business).

In Kansas, a debtor's household goods and furnishings are exempt, and will not be lost in a bankruptcy.

Under current law, to be presumptively eligible for a chapter 7 bankruptcy, a debtor's household income must be below:

KSA §60-2304 allows each Kansas resident up to $1,000.00 of jewelry to be exempt from attachment by creditors.

Bankruptcy filing a Chapter 7 bankruptcy doesn't mean that your credit is destroyed, and you will not qualify for credit in the future. Although bankruptcy will be on your credit report for 10 years, the impact of it on your rating will lessen with time.

Bankruptcy money in a retirement account is exempt and not lost in a bankruptcy case in most circumstances.

Kansas utility companies are only limited in turning off electricity or gas in the winter months if the temperature is below 35 degrees (no protection in summer months - unlike Missouri).

Income tax debt more than 3 years old may be discharged in a bankruptcy.  Income tax refunds may be lost in bankruptcy.

Hello from Adams Cross, LLC, see our tip for personal injury and our tip for bankruptcy regarding snow and ice-related incidents.