Joseph I Wittman Attorney At Law In Lawrence KS Will Help You With Your Bankruptcy

If you have thought about filing bankruptcy because of overwhelming debt, Joseph I Wittman Attorney at Law in Lawrence KS will be able to help you. You can attempt to file for bankruptcy on your own, but if the papers are not properly completed or deadlines are not met, you will have to start the process all over again. A bankruptcy attorney will review your finances and help you determine which type of bankruptcy you’re eligible to file.

Once an individual files for bankruptcy, creditors are not permitted to continue to harass an individual. Foreclosure procedures will be stopped until the bankruptcy is complete. Getting a break from harassing telephone calls and suffering anxiety over the possible loss of a home or car will be eliminated during the bankruptcy proceeding.

Determining What Is Exempt

An attorney will review items that might be exempt from seizure by the bankruptcy court. These items are determined by the Kansas exemptions. There are many forms and schedules that will need to be filed with the court that will list all of the assets and debts.

The forms that need to be filed describe an individual’s financial situation over the last two years. If an individual has not been truthful, it could jeopardize an individual’s bankruptcy.

Chapter 13

A proposed repayment plan has to be submitted to the bankruptcy court and a reasonable amount money will be allotted to pay monthly expenses of the individual who is filing. Chapter 13 allows an individual to keep certain assets and continue to make reduced payments. Taxes and back child support must be paid in full.

Credit cards and medical bills are considered unsecured debt. This type of debt is usually settled with the creditors for a minor amount of money.

Chapter 7

Chapter 7 bankruptcy did not require repayment of outstanding debts and considered a complete liquidation. Any assets that are not exempt will be sold by a trustee of the bankruptcy court to pay off creditors. This type of bankruptcy is usually completed within three months with the help of Joseph I Wittman Attorney at Law in Lawrence KS.

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