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,

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Navient Student Loan Class Action Suit UPDATE

Navient — Student Loan Debt… Class action suit. (original post 11/9/23) Navient Class Action Suit ** UPDATE ** As additional questions keep coming in regarding this class action suit, here is an update: The matter of Youssef v. Navient Solution; Case No. 23-MC-2113 (HG), Adv. Pro. No 17-1085 has been settled. The proposed Settlement was

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Student Loan Debt Forgiveness: IDR – The New Debt Relief Program

Student Loan Debt Forgiveness Round … — What now. As I posted in January, Student Loan Debt Relief has been a hot topic for some time now. You can’t scroll through a news feed without seeing a new story – a promise of hope. A dashed chance for forgiveness. Legal fights, forgiveness blocked, new proposals,

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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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Bankruptcy Median Income Update: April 1, 2022

April 1, 2022: New Median Income Figures Released for Kansas and Missouri Bankruptcy Filers In Bankruptcy, the Means Test looks at your Median Income and Family Size to determine which Chapter you may file: Do you qualify for a Chapter 7 or Chapter 13? On April 1, 2022, the Median Income Levels were updated for

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Pre-Petition vs. Post-Petition Debt: What You Need to Know Before Filing Bankruptcy

Understanding Pre-Petition and Post-Petition Debt in Bankruptcy What Does Pre-Petition vs. Post-Petition Mean in Bankruptcy? When filing for bankruptcy, it’s important to understand the difference between pre-petition and post-petition debt. These terms define when your debt was created and determine whether it can be included in your bankruptcy case. Pre-Petition Debt Pre-petition debt includes everything

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Medical Debt and Bankruptcy: What Married Couples Should Know

How Medical Debt Impacts Your Marriage and Bankruptcy Options How Medical Debt Impacts Your Marriage Medical debt is one of the most common financial struggles for married couples. Whether it’s from an unexpected hospital stay, surgery, or ongoing treatments, these bills can add up quickly. In some cases, they can create stress and tension in

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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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