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Basic steps in filing a Chapter 7 bankruptcy Kansas City MO

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One of the major reasons why people resort to filing Chapter 7 bankruptcy is its ability to clear your debt quickly. Even though an individual’s situation may allow for filing different bankruptcy chapters, being eligible and knowing how to file for Chapter 7 bankruptcy in Kansas City, MO is a huge plus. Going through the process begins by learning the basic steps in filing a chapter 7 bankruptcy in Kansas City, MO. 

Unexpected changes in your financial capacity due to health problems, loss of income, and accidents may lead to a mountain of unpaid debt. Once your petition for Chapter 7 bankruptcy, you have a chance to be discharged of your debts in a few months’ time. And you don’t have to deal with harassing creditors – we’ll deal with them for you!

Knowledge is power and learning how to file for Chapter 7 bankruptcy in Kansas City, MO is the first step towards clearing your debt and getting a fresh start in life. For this, it is wise to enlist the legal services of an experienced bankruptcy attorney. So if that’s the kind of legal advice you want, our team at Jeppson Law Office is up for the task. Give our law firm a call today to speak with a bankruptcy lawyer!

Why do I need a bankruptcy attorney in Missouri?

Most people who want to clear their debts will do anything to get back on their feet. When getting information on how to file Chapter 7 bankruptcy Kansas City MO, it’s important that you’re getting it from a bankruptcy attorney who ensures that:

  • Realistic expectations. The attorney ensures that the clients are grounded throughout the ordeal, setting attainable, realistic goals to give them an idea of what kind of outcome to expect. 
  • Guided and Aligned. Every process is properly streamlined and done according to the Bankruptcy Code
  • Your Best Advocate. A bankruptcy attorney undertakes all the legal proceedings and gives you guidance along the way. Everything is done to lessen the stress while seeing to it that your legal rights are protected

Learning how to file for chapter 7 bankruptcy in Kansas City, MO can be difficult if it’s your first time, let alone if you do it on your own. If you’re looking for reliable information on the basic steps in filing a Chapter 7 bankruptcy Kansas City MO and how to get your finances back on the right track, contact our Missouri law office right away!

What is Chapter 7 bankruptcy?

Also known as liquidation bankruptcy, filing for Chapter 7 involves gathering and selling all your non-exempt (unprotected by Missouri bankruptcy exemptions) assets. In return, the funds raised during the liquidation process will be used to pay off your debt.  Once you successfully file Chapter 7 bankruptcy, the bankruptcy protection will be in effect for three to six months.

With this in mind, you must know which of your property can be exempted from liquidation to determine which of your valuables will remain with you. Typically, you’d still be able to keep your car, social security, and other personal belongings like clothes and smaller items. Nonetheless, speaking with a skilled Missouri bankruptcy lawyer about bankruptcy exemptions will give you a better idea of what you can look forward to.


What are the Basic Steps in Filing for Bankruptcy

Filing for bankruptcy can be a daunting and complex process, but it may provide relief for those struggling with overwhelming debt. The basic steps in filing for bankruptcy include gathering all financial information and documentation, completing a credit counseling course, filling out bankruptcy forms, submitting the forms to the bankruptcy court, attending a meeting with creditors, and completing a financial management course.

Learning how to file for chapter 7 bankruptcy in Kansas City, MO can be daunting, especially for first-timers. It’s important to note that bankruptcy laws and procedures may vary depending on the type of bankruptcy you are filing, your state’s laws, and your specific financial situation. To learn the basic steps in filing for chapter 7 bankruptcy in Kansas City, MO, consult with a bankruptcy attorney to ensure that you understand the process and make informed decisions.

That said, here are the basic steps in filing a chapter 7 bankruptcy Kansas City MO:

Analyzing your debt and circumstances

First, you must know which of your debts can be discharged by Chapter 7 bankruptcy filing and which will not. 

Per the Bankruptcy Code, dischargeable debts include medical bills, credit card debt,  car leases, personal loans, and some membership premiums. In contrast, non-dischargeable debts are those of spouse and child support, most student loan debt, and recent tax debt.

Finding out if you have exempt property

In most cases, Chapter 7 filers are able to keep household appliances, furniture, clothes, certain business tools, some home and car equity, and prescribed medical equipment.

If you don’t know which of your assets will be taken away by the Chapter 7 process, ask your Kansas City, MO lawyer about bankruptcy exemption laws. These laws can protect your property from being sold without a fight. 

Determining your Chapter 7 eligibility

You can do this by taking and passing the Chapter 7 Bankruptcy Means Test where your gross monthly income during the last 6 months before filing will be multiplied by two, and then compared to Missouri’s median income.

In order to pass the means test, your gross monthly income has to be less than or equal to the state median. If not, the bankruptcy court shall recommend that you try attaining debt relief by filing Chapter 13 bankruptcy.

Going through credit counseling

One of the requirements before Chapter 7 Bankruptcy filing is for you to complete a credit counseling course within 180 days of submitting your bankruptcy petition. You have the option to attend the class either in person or virtually. Credit counseling should be given by an agency approved by the bankruptcy court.

The filer may be allowed to take the course shortly AFTER the 180 days, but only when certain exceptions are met. Talk to a seasoned Kansas City bankruptcy lawyer for additional information.

Filling out required Chapter 7 bankruptcy Forms

When you fill out the bankruptcy forms needed for your petition, you must inform the Bankruptcy Court about the totality of your circumstance. That includes all debts, expenses, property, income, and any other useful details. Make sure, to tell the truth about every detail you put in each Chapter 7 bankruptcy form.

Additionally, you will pay a filing fee which the Bankruptcy court either allows you to pay in 4 installments or waive entirely. Fill out all forms in the presence of your Kansas City bankruptcy lawyer, if possible.

Submitting all necessary paperwork and meeting with the Chapter 7 trustee

The Chapter 7 bankruptcy trustee will be tasked to verify the accuracy of everything you wrote in the bankruptcy forms and other documents you included. During the 341 meeting of creditors, the Chapter 7 trustee will also verify your identification.

Talk to your Missouri bankruptcy attorney about the duties a trustee performs during Chapter 7 and anything else about how to file Chapter 7 bankruptcy Kansas City MO.

Filing your  motions and objections (if there are any)

This step is optional. However, filing objections and motions may be needed if you’re looking to get rid of Chapter 7 license or oppose claims made by your creditors. These matters should be properly addressed before your bankruptcy case is closed.

Finishing a debtor education course

Before your case gets discharged, the final step you have to take is to complete a debtor education course where you’ll learn how to continuously remain debt-free. But if you fail to submit the bankruptcy discharge order to court, your case will be dismissed – leading to additional fees. This step shouldn’t be overlooked.

The steps toward achieving financial freedom from debt can be a complicated road, but it is a road worth taking. Before making any big decisions, consult first with a bankruptcy attorney from Jeppson Law Office. 

Call our Kansas City, MO bankruptcy attorney now!

When faced with financial troubles, having a seasoned bankruptcy attorney on your team may be the key to finally getting your normal life back. Our team at Jeppson Law Office has the experience and skills needed to help you with all the basic steps in filing a Chapter 7 bankruptcy Kansas City MO and advise you on other bankruptcy cases.

If your financial situation needs an immediate fresh start, avail of a free initial consultation with our Missouri bankruptcy attorney today! We also provide excellent legal assistance in the following

Don’t hesitate to give a seasoned attorney a call right now. Get debt relief with the help of Jeppson Law Office right now!

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