Bankruptcy Law Blog

UPDATE TO 6/30/24 — Deadline April 30, 2024 : Student Loan Debt Recount Opportunity

UPDATE 5/15/24 The Biden-Harris Administration Announced it will Allow Borrowers More Time to Consolidate Loans to Get Credit for Progress Toward Loan Forgiveness Programs! This administrative fix ensures borrowers get proper credit for progress borrowers made toward income-driven repayment (IDR) forgiveness and Public Service Loan Forgiveness (PSLF). The payment count adjustment is now anticipated to be […]

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Bankruptcy Filings : 2024

Bankruptcy Filings — The total number of filings … Is up … A total of 16% over last year. From the United States Courts: Bankruptcy filings rose 16 percent during the 12-month period ending March 31, 2024. That is a similar rate of acceleration as in the Dec. 31, 2023, quarterly report, but new bankruptcy

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April 1, 2024 Median Income Levels for Kansas and Missouri Bankruptcy Filers

April 1, 2024 Median Income Levels for Kansas and Missouri Bankruptcy Filers The Means Test looks at your Median Income to determine for which Chapter of Bankruptcy you qualify: Chapter 7 or Chapter 13 Most individual debtors filing for bankruptcy relief are required to complete a version of Bankruptcy Form 122. On April 1, 2024,

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What does pre-petition debt vs post-petition debt mean?

Understanding Pre-Petition vs. Post-Petition Debt in Bankruptcy What Is Pre-Petition Debt? Pre-petition debt is any debt you owe before your bankruptcy case is filed with the court. The filing date is crucial—it marks the point when your debts are divided into pre-petition and post-petition categories. Examples of pre-petition debt include: When you file for bankruptcy,

What does pre-petition debt vs post-petition debt mean? Read Post »

Meet Adjunct Professor and Bankruptcy Professional Malissa L. Walden

Malissa L. Walden: Adjunct Professor and Bankruptcy Attorney Who Is Malissa L. Walden? Malissa L. Walden is an experienced bankruptcy attorney. She is the founder of Walden Legal Solutions, LLC. She is also an Adjunct Professor of Bankruptcy Law at the University of Kansas School of Law. Malissa has had a career spanning over two

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What You Need to Know About Bankruptcy Reaffirmation Agreements

Understanding Reaffirmation Agreements in Chapter 7 Bankruptcy Considering Chapter 13 Bankruptcy? You can skip this post! Reaffirmation agreements only apply to Chapter 7 bankruptcy cases. What is a Reaffirmation Agreement? A reaffirmation agreement is a new contract between you and a creditor. By signing it, you agree to continue paying off a specific debt, even

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Chapter 13 Debt Limits Update : April 1, 2022

BANKRUPTCY : CHAPTER 13 DEBT ELIGIBILITY LIMITS 2022 Increases In Filing And Exemption Limits For Bankruptcy Cases – The debt limitations are adjusted every 3 years. The Judicial Conference of the United States gave notice of the changes going into effect for cases filed after March 31, 2022 Chapter 13: Debtors have the option of

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Use Your 2021 Tax Refund to Eliminate Your Debt: A Smart Financial Move

Tax season is approaching quickly, and many have already filed their returns. Households eagerly anticipate their 2021 federal and state tax refunds, with some already in receipt. While some filers plan to use their refunds for necessities or luxury purchases, others may choose to address their credit card or medical debt, aiming to reduce their

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Understanding Garnishments in Kansas: What You Need to Know

The bank received an order for garnishment — there goes your savings. Garnishment. What is Garnishment and How Does it Work? Garnishment allows creditors to collect unpaid debts by seizing your wages, bank accounts, or other property. In Kansas, creditors typically seek a court judgment before requesting a garnishment order. However, in some cases, they

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April 1, 2021: Bankruptcy Median Income Updates for Kansas and Missouri

Understanding the New Median Income Figures for Bankruptcy Filers April 1, 2021: New Median Income Figures Released for Kansas and Missouri Bankruptcy Filers Not sure which chapter of bankruptcy you should file? Finding out what you qualify for may be a good place to start. In bankruptcy, the Means Test looks at your median income

April 1, 2021: Bankruptcy Median Income Updates for Kansas and Missouri Read Post »

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