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How Are Attorney Fees Handled in Bankruptcy?

Answers from a Kansas City Bankruptcy Lawyer A consumer bankruptcy offers many valuable solutions to financial problems that may, at first, seem impossible to fix. Many people turn to bankruptcy when they find themselves unable to manage the debt that accompanies massive medical bills, loss of employment or upheaval in the economy. However, despite the many solutions that bankruptcy offers, there are still countless individuals who do not file for bankruptcy because they may mistakenly believe they cannot afford the assistance of a qualified Kansas City bankruptcy attorney. Affording a Chapter 7 Bankruptcy If you believe you that you cannot afford an experienced Kansas City bankruptcy attorney, it may be tempting to file for Chapter 7 on your own. While you are free to do so, it is unlikely you will  reap the full benefits of bankruptcy without legal assistance. You might make mistakes that result in your case being…
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What Does The Bible Say About Bankruptcy?

Kansas City Attorneys Offer Insight into Modern Law’s Roots Those who adhere to Judeo-Christian beliefs may be surprised to learn that modern bankruptcy laws actually have roots in the Bible. Bankruptcy, even in the aftermath of our recent recession, still has certain stigmas in the minds of individuals who are struggling to pay household bills and debt. However, the idea that people should not be imprisoned for debt and allowed fresh starts is much older than US Bankruptcy law. An article from “The Kingdom Economy” sparked our interest in the Bible and bankruptcy, and we wish to explore these ideas from a legal perspective. Are the Bankruptcy Time Limitations from the Old Testament? In the Old Testament, there is much discussion about laws regarding borrowers, lenders, and the poor. For instance, in Deuteronomy it says, “At the end of every seven years you shall grant a release. And this is…
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Do I Pass the Chapter 7 Means Test?

Have Your Situation Reviewed by a Kansas City Bankruptcy Attorney Chapter 7 is a type of bankruptcy that allows you to discharge all or most of your unsecured debts while protecting your property from creditors. Not everyone is entitled to file for Chapter 7 bankruptcy, however. You must pass what is known as the Chapter 7 means test. The means test determines that your income levels are low enough to justify bankruptcy and looks at the amount of disposable income to pay unsecured debts. If you are unsure about any of the following criteria, speak with a bankruptcy lawyer near you to discover the best solution to your financial obstacles. Steps to the Chapter 7 Means Test There are two steps to the means test: Are you above or below your state’s median yearly income level for your type of household? In 2014, the median incomes for Missouri households were…
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Can My Company Stay in Business After a Chapter 11 Bankruptcy?

Our Kansas City Bankruptcy Attorney Explains Business Bankruptcy Filing for bankruptcy does not have to be the end of your company, in fact, in can be a fresh beginning. Although you should explore all of your options when deciding whether bankruptcy is the right choice for you, it is possible to get through a Chapter 11 bankruptcy and keep your company afloat. Saving your business can be a difficult process, and if you are considering how a bankruptcy may affect your company, learning more about the process may help your business become one of the many to emerge successfully from a Chapter 11 bankruptcy. How Can Chapter 11 Allow My Company to Remain in Business? Much of the appeal of Chapter 11 is that it can allow companies to stay in business while dealing with debt. Typically, Company officials continue to operate the company while following the rules required under…
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