How Does the Bankruptcy Process Work in Kansas?

The Different Kinds of Bankruptcy

Kansas bankruptcies, as elsewhere, are done through the U.S. Bankruptcy Court. All forms of bankruptcy shield debtors from creditor harassment including phone calls, foreclosure and wage garnishments. With Chapter 7 your debts are discharged but you give up non-exempt property but not your personal and household items. With Chapter 13 you pay your debts over time and keep your property. Chapter 11 is used by business to reorganize and gain financial footing. It should be noted that bankruptcy is a precise action with mistakes costly. Therefore it is recommended that Wichita residents contact a Kansas bankruptcy attorney.

Chapter 7 Procedure

First, you consult your attorney to ensure you qualify for Chapter 7. Then after taking an online course to satisfy the Mandatory Credit Counseling requirement, you file your Petition, Schedules and Statement of Financial Affairs with the court. At this point an automatic stay goes into effect stopping all creditor actions against you. About a month later you attend a mandatory Meeting of Creditors where the bankruptcy trustee and any creditors may ask you questions about your situation. Following the mandatory meeting, the creditors have 60 days to file objections. You now do another online course on Financial Management. When all of these actions have been done and no objections have been filed to your bankruptcy, you receive an automatic discharge of your debts.

Chapter 13 Procedure

The procedure here is similar to Chapter 7 except you submit a plan with your petition to pay off your debts within three to five years. You will be making a monthly payment to the bankruptcy trustee who will then divide the money up between the creditors.

Chapter 11 Procedure

This is a procedure for businesses similar to Chapter 13 for individuals. After the filing the petition, the business will prepare a Plan of Reorganization to pay its debts.

Seasoned Bankruptcy Attorney in Wichita

You are invited to contact our Wichita bankruptcy attorney at the Kansas Bankruptcy Center, Norman Douglas. We have helped many people all over Kansas with their bankruptcies. We will answer your questions and help you file the petition from your own home. You will only need to leave your home to attend the Meeting of Creditors in Wichita 30 days after filing.