Kansas consumers who wish to file chapter 13 bankruptcy must pass the means test for their county. This implies that their income is greater than the county’s median. If they pass this test, by providing adequate proof of their income, a Lawyer in Topeka KS can file a claim on their behalf to seek the court’s approval.
How to File a Chapter 13 Bankruptcy Claim
An attorney must provide proof of the claimant’s income for the last six months prior to filing a claim. This includes all sources of income, such as dividends, child support, and alimony, if applicable. The claimant’s income level is determined by this documentation.
The court must also receive information regarding bank accounts, including checking and savings. Any information about retirement plans that are owned by the consumer should be disclosed to the court as well. The court will need to know how much money he or she has on hand at the time the claim is filed.
Documentation for any properties owned by the consumer should be presented to the court in case the court determines that chapter 7 is a more beneficial option for the consumer based on the value of their estate. The court must review all details pertaining to the consumer’s net worth to establish an appropriate monthly payment value.
The Lawyer in Topeka KS works with the consumer to generate a preliminary plan for these purposes. This includes details about how the consumer utilizes their expendable income after paying their monthly payment and deducting household expenses. The court reviews this plan and makes changes where it deems necessary.
Discharge of debt is possible in bankruptcy. However, the judge is less likely to discharge debts that are government-based, such as student loans. Credit card accounts that are under a specific value are typically discharged through bankruptcy.
Consumers who are overwhelmed with debt are more likely to find resolution through bankruptcy. The claims allow them to prevent adverse actions such as foreclosure and repossession. If you need assistance from an attorney for these purposes, you should Click here to investigate how this process works.
