Types of Bankruptcy
There are three main types of bankruptcy cases for individuals, the most common of which are chapter 7 and chapter 13.
Running Time: (3:55)
10/10/09
Foreclosure Truth: Few Getting Help
As of 9/1/2009, only 1,711 permanent loan modifications
1.26% trial modifications made permanent
1 in 8 mortgages in default or foreclosure
foreclosure delayed, not avoided
10-12 million foreclosures predicted
50% mortgages will be underwater if problem not solved
10/9/09
Bankruptcy Income Guidelines Changing
Will you qualify for chapter 7 bankruptcy after Halloween?
Bankruptcy income guidelines will change effective with cases filed on or after November 1, 2009. For one, two and three person households, the amount increases slightly. For four person households the amount decreases.
Here are the new Kansas figures:
- one earner household $41,357 (up $353)
- two person household $57,767 (up $1621)
- three person household $63,438 (up $193)
- four person household $72,610 (down $2016)
- add $6900 for each individual in the household in excess of four.
The figures are updated by the U.S. Trustee Program using data from the U.S. Census Bureau for median income based upon family size.
