New bill proposed to help those filing for medical bankruptcy

It is an unfortunate and scary reality that an unexpected medical condition can strike at any time. Those who are subjected to these illnesses may not only be physically and emotionally damaged, but they can be financially harmed too. The cost of medical care remains high, and keeping up with minimum payments can be difficult,… Read More »

Citigroup settlement may help some avoid bankruptcy

Kansas consumers who financed their mortgage through Citigroup may have a financial settlement in their future. Just this week, Citigroup settled its mortgage investigation with the Department of Justice. The bank is set to pay a reported $7 billion to settle the case. The investigation centered on Citigroup’s mortgage-backed securities. Many of these securities were… Read More »

Avoiding bankruptcy in your 30s

Last week’s post reviewed tips for financial solvency during an individual’s twenties. Some of the advice included: building an emergency fund, paying off credit card debt and taking a chance with the job that a person loves. But what happens when Kansans move into their thirties? Below are some tips for financial survival. In the… Read More »

What is a discharge of debt in bankruptcy?

A discharge relieves or forgives an obligation. In the case of bankruptcy, liability for certain types of debts can be relieved after a period of time. This is not a temporary solution. Once a debt is discharged, the debtor no longer has a legal obligation to pay the debt. The timing of a discharge depends… Read More »

Bankruptcy can apply to anyone

Every time the phone rings, you are gripped with fear. Trips to the mailbox tie your stomach into knots. At times you feel trapped by your debt. Too embarrassed to ask friends or family for help but in desperate need of relief. If any of these scenarios feel familiar to you, it may be time… Read More »

Choosing a good credit repair company in Kansas

Overwhelmed by debt and fearful of losing their homes, some Kansas residents are looking for relief in the form of credit repair services. Some companies are credible while others are less than honorable. For Kansas consumers desperate to get their financial house in order, it can be difficult to differentiate between the two. Here are… Read More »

Good credit can become bad credit quickly

It rarely is just one thing. Sure, sometimes a bankruptcy can be greatly helped along by a significant change or problem in your life. Losing a job or suffering a loss of hours, a divorce or a major health condition, like a stroke or heart attack can all contribute to your needing to consider filing… Read More »

What are bankruptcy exemptions?

Bankruptcy exemptions can be confusing for residents of Kansas who are considering filing a bankruptcy. The purpose of an exemption is to protect some of your property from being collected by the bankruptcy trustee and sold to satisfy your indebtedness. This prevents you from losing everything when you file a bankruptcy. The Bankruptcy Code provides… Read More »

Can you avoid bankruptcy?

There are two important elements in recovering from a significant amount of debt. Income and time. You need to have sufficient income to pay both your living expenses and your debts. And you need time. And if you have substantial debts, say a significant amount of credit card debt on top of a home mortgage,… Read More »

How final must finality be?

In law, there are substantive legal questions and procedural legal questions. A substantive question might be what is required to be eligible to file a bankruptcy case or what is the legal speed limit for a highway. Procedural questions address issues of the operation of courts and matter like how long do you have to… Read More »