Setting You Up For Financial Success

Is Chapter 7 Bankruptcy the Right Option for You?

Find Out from Our Seasoned Kansas City Bankruptcy Lawyers.

The important thing to understand about Chapter 7 bankruptcy is that it entails the selling of your assets to pay off your creditors. According to the Bankruptcy Code, which outlines the rules that federal courts must follow for all bankruptcy cases, you may be entitled to keep certain exempt property, as opposed to non-exempt property, but you may be subject to mortgages or liens.

Do I Qualify for Chapter 7?

Eligibility is determined by a simple means test, which most people pass. After that, you’re one step closer to the relief you need.

Whether you’re an individual, in a partnership, part of a corporation, or otherwise associated with a business, Chapter 7 may be the right option for you. However, you’ll also need to undergo credit counseling within 180 days of filling.

Chapter 7 Bankruptcy, Step by Step

FILE A PETITION & OTHER PAPERWORK

First, you need to file a petition for Chapter 7 bankruptcy, as well as all the necessary paperwork — tasks we at Patton Knipp Dean, LLC can help you with easily. Keep in mind the court’s filing fees, which usually run about $335. If that poses a problem, a few more pieces of paperwork can get you court assistance.

WHAT THE AUTOMATIC STAY DOES FOR YOU

After you file a petition, debt collectors will stop harassing you for payment due to the automatic stay. This bars them from garnishing or claiming portions of your wages, among other actions they may take against you.

MEET WITH CREDITORS & A TRUSTEE

After meeting with creditors and a court-appointed trustee, we can reach a repayment agreement and get your debts discharged. The process generally takes 4 to 6 months, but you’ll see our hard work pay off as you enjoy a fresh start.

Contact our Kansas City bankruptcy attorneys for more information on filing Chapter 7. We provide free, no-obligation consultations.

The Complete Bankruptcy Firm

Our Approach Sets You up for Financial Success
  • Before
    Listen to Your Story & Understand Your Situation

    Prior to working with you, we sit down to understand where you’re at in order to determine the best way to move forward with your case.

  • During
    Provide Representation During Bankruptcy Filing

    Throughout our relationship, you’ll be kept informed of the status of your case and understand your options in full to make educated decisions.

  • After
    Protect Your Credit at No Additional Cost to You

    The process does not end when your case concludes. We work with you to help you get back on the right track when it comes to your credit and finances.

Get Answers. Build a Game Plan.

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