Our office is at 727 North Waco. Suite 565 in Wichita. In Kansas, the bankruptcy courts are located in Wichita, Topeka and Kansas City. Our office strives to provide you with quality bankruptcy representation at an affordable cost. The prices quoted herein for services are for cases filed in Wichita.
Trips to Wichita. If you file bankruptcy, there is usually one court appearance in Wichita. Your attendance at that very short hearing is mandatory. Additional trips to Wichita are at your option. We can handle the consultation involved in preparing and processing your bankruptcy, either by phone or in person. Our charges do not differ whether we consult via phone or in person; we simply want to do what is most comfortable for you. However, if you desire a personal consultation, we do ask that you make an appointment in advance.
Types of bankruptcy. The most common bankruptcy is a Chapter 7 (liquidation). A Chapter 7 does not eliminate a valid mortgage or lien. If you have property pledged as collateral which you wish to retain, you will need to stay current on those payments. Otherwise, you keep your exempt assets, which would include (subject to some value and size limitations) your home, your vehicle (two vehicles in the case of a married couple), your household goods and furnishings, clothing, personal effects, most life insurance policies, most retirement plans and, to a limited extent, the tools of your trade (if applicable). Non-exempt assets which you own at the time the bankruptcy is filed, such as an extra vehicle, boat, camper, tax refund or money in the bank, are liquidated by the court-appointed trustee, with the proceeds then going to your creditors.
The second most common bankruptcy is a Chapter 13. In a Chapter 13, you typically keep all your assets; however, you must propose a plan to the court which requires you to make monthly payments over a time period ranging from 3-5 years. These payments are made to the standing Chapter 13 trustee, who then distributes the money to your creditors according to the terms of the Chapter 13 plan.
Generally speaking, a Chapter 7 bankruptcy is simpler, less complex and less expensive than a Chapter 13; however, there are some instances where a Chapter 13 is preferable or more appropriate. You will receive further explanations on Chapter 7 and Chapter 13 bankruptcies one the preparation of your case is underway.
Please call for a free case evaluation.