We want to remind everyone that if you are struggling with debts such as credit cards, medical bills, or facing foreclosure, your tax refund may be the key to a fresh start. Many individuals, families and businesses may have decided that bankruptcy is in their best interest, but they have difficulty putting together the filing fees and attorney fees to file. Good news: tax refunds may be used to pay the filing fees and attorney fees for a Chapter 7 or Chapter 13 bankruptcy in Missouri and Kansas. By filing bankruptcy, you may be able to wipe out and eliminate your debt or save your home from foreclosure. Our experienced Kansas City bankruptcy attorneys provide initial free phone consultations, so people considering bankruptcy can make a decision on whether or not to file based on their specific situation. Fortunately, tax refunds may be used for filing a Chapter 7 or…
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This is the time of the year when many people are waiting for their tax refund from the IRS with anticipation and plans of how to spend the funds. If you are also thinking about filing for bankruptcy, you need to know that your tax refund is considered an asset that the trustee may take and use to pay off your debtors. The timing of the filing of the bankruptcy may make a difference in whether or not you can keep and spend your refund or lose it to the bankruptcy trustee. Chapter 7 bankruptcy in Kansas If you have filed for bankruptcy and then receive your tax refund, the entire amount of the refund may go to the bankruptcy trustee to be used to pay your creditors. Kansas has had an exemption that has been previously used to exempt a portion of the refund (Earned Income Credit exemption). The…
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Tax season is here and many families in the Kansas City area are eagerly awaiting their state and federal tax refunds. Many people use their tax refunds for the latest technology gadget or to pay some of their bills. If you are facing mounting bills and debt that seems impossible to overcome, our experienced Kansas City bankruptcy attorneys may be able to help you! At the Sader Law Firm, we help individuals and families in Kansas and Missouri file for bankruptcy. What does this have to do with your tax refund? A tax refund may offer you a way out of your existing debts. Often times, a person is unable to pay off all of their debt with a single tax refund. However, tax refunds may be used to pay the attorney and filing fees for a bankruptcy. If you qualify for a chapter 7 bankruptcy, you may be able…
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*Credit card payments will not be accepted for bankruptcy cases, unless pre-approved by The Sader Law Firm. If you have a question about a credit card payment, please call our Office Manager at (816) 561 1818.
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