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Don't Let Debt Have an Extreme Hold on Your Life Bankruptcy is not the right answer for everyone, but it could be right for you.

Bankruptcy Myths

False Statements about Bankruptcy

The statements below are only some of the myths that are rampant in Kansas about bankruptcy. If you are a Kansas resident considering bankruptcy but are concerned about something you have heard, you are urged to contact a bankruptcy lawyer in Kansas.

Myths about bankruptcy include:

  • Bankruptcy is no longer available - Under the recent bankruptcy law changes, bankruptcy was made somewhat more complicated but it is still there. Your bankruptcy attorney can guide you through it.
  • You can get rid of all of your debts - Certain debts such as student loans or debts incurred due to fraud cannot be extinguished in Bankruptcy Chapter 7.
  • You lose all of your property when you file bankruptcy - This is not true. When filing Chapter 7, you may keep all property exempt from execution including your house, car up to $20,000 in value, furniture, appliances, clothing and more.
  • You are a bad person by filing bankruptcy - Most bankruptcies result because of things which a person could not easily avoid including medical emergencies, job loss or divorce.
  • You cannot keep your property when filing bankruptcy - When filing for Chapter 7 to extinguish your debts, you give up only non-exempt property. When filing for Chapter 13, you may keep all of your property as you propose a plan to pay back your debts. Meanwhile you receive full bankruptcy protection from lawsuits and wage garnishments.
  • When you file for bankruptcy, you will not be able to get credit - False! After completing bankruptcy, you now have no debts and so credit companies will now consider you for loans where previously they would not.
  • You cannot get rid of credit card debt or medical bills in bankruptcy - Yes, you may.
  • You cannot get bankruptcy if you have a job - False! If your disposable income is below a certain limit you may qualify for Chapter 7 regardless of having a job. If your disposable income is too high, you may still file under Chapter 13.

Kansas Bankruptcy Attorney Will Answer Your Questions

At the Kansas Bankruptcy Center we stand ready to answer your questions by phone about bankruptcy. We service the entire state of Kansas and you do not have to come into our office for a consultation.

Contact our Bankruptcy Lawyer in Wichita, Kansas for competent answers to your bankruptcy concerns.