If you are struggling with mounting debt, bankruptcy may be the best option for you to eliminate your debt and get a fresh start on life.  While it may not be the right choice for every situation, filing for bankruptcy might be necessary if you can no longer pay your bills.

Susan McKinney understands what it is like to be burdened by debt, and can relate to her clients who are filled with fear about an uncertain future.  She works to alleviate some of that stress by walking clients through the bankruptcy process, from the initial filing through the ultimate discharge of debt. She represents clients on bankruptcy matters throughout the Kansas City area, including Overland Park, North Kansas City, Independence and Blue Springs.

What Type of Bankruptcy Is Right For You?

There are two main types of individual bankruptcy: Chapter 7 and Chapter 13. The type of bankruptcy that you can file will depend on a number of factors, including your income level and ability to repay the debt that you owe.  

In Chapter 7 bankruptcy, most of your assets will be “liquidated,” or sold, to pay off your creditors. Some assets, including personal property and real estate, are excluded from being sold under state law.   Once the creditors have been paid, whatever debt remains will be discharged or forgiven.

In Chapter 13 bankruptcy, you will likely be able to keep your assets.  You will be required to repay all or part of your debt through a payment plan, which usually must be done within three to five years.  Once you have completed the terms of your payment plan, your debt will be discharged.  

Burdened By Financial Stress? Find out if Bankruptcy is a viable option.

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Steps In the Bankruptcy Process

While the specific steps that you will be required to follow will depend on the type of bankruptcy that you file, personal bankruptcy is a multi-step process.  Susan McKinney will guide you through each step of the process for your Kansas or Missouri personal bankruptcy filing.

  1. A Financial Inventory: you will be required to gather all of your financial documentation, including all paperwork regarding your debts, assets, property, income and monthly living expenses.  All of this information will be turned over as part of the process.    
  2. Pre-Filing Credit Counseling: before you file for bankruptcy, you are required to go to credit counseling. You must submit proof that you attended a credit counseling session with your bankruptcy filing.
  3. File for Bankruptcy: for personal bankruptcy cases in Kansas and Missouri, Susan McKinney will draft and file a bankruptcy petition on your behalf and attend all court hearings for you.  Once you have filed for bankruptcy, your creditors can no longer attempt to collect a debt from you.  
  4. Creditors’ Meeting: after the petition has been filed, all of your creditors will be brought together in a meeting to discuss the debt owed to them.  They can review your payment plan and object to it at this meeting. 
  5. Post-Bankruptcy Credit Counseling: once your assets have been liquidated in a Chapter 7 bankruptcy or you have made your last payment in a Chapter 13 bankruptcy, you must again attend credit counseling.  The bankruptcy process will not be completed and your debt will not be discharged until you submit proof that you have completed credit counseling.  
  6. Debt Discharged: after you have completed all steps in the process, including attending credit counseling, your debt will be discharged.  

Bankruptcy Attorney in Kansas City, KS

Susan McKinney is a skilled attorney who is experienced in guiding clients through the difficult process of filing for personal bankruptcy. She prides herself on her compassionate representation of her clients, and her successful resolution of their bankruptcy cases. Susan represents clients in Kansas and Missouri, throughout the Kansas City metro area. Contact her office today to schedule a free consultation on your bankruptcy case.