Archives for October 2009

Wichita Jeweler Files Bankruptcy

Barriers Inc, a long-time Wichita jeweler filed a chapter 11 bankruptcy Friday.  The store is located at Douglas and Oliver.  Ed Nazar is the company’s bankruptcy attorney.

Topeka Bankruptcy Attorneys Named 2009 Super Lawyers

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Mark Neis

Our attorneys at the Bankruptcy Law Office, Mark Neis and Jill Michaux, have been chosen for inclusion on the 2009 Missouri & Kansas Super Lawyers list.  Only five per cent of Missouri and Kansas attorneys are chosen each year.

Jill Michaux

Jill Michaux

The Super Lawyers selection process includes a statewide survey of lawyers, peer nominations based on 12 indicators of peer recognition and professional achievement, a blue ribbon panel review by practice area, independent research to identify outstanding lawyers, and a discipline check of candidates.

Mark and Jill were two of four Kansas lawyers selected as 2009 Super Lawyers in the consumer bankruptcy law category.  They are two of three Topeka lawyers selected as 2009 Super Lawyers in the bankruptcy and creditors rights law category.

Mark and Jill are the only consumer bankruptcy law specialists in Topeka and two of 10 in Kansas.  They are board certified by the American Board of Certification in consumer bankruptcy law.

Video: Do I Need a Lawyer to File Bankruptcy?

You need a lawyer to file bankruptcy.  Without an attorney, you may lose your property and may not get your debts discharged by the bankruptcy.

You need a bankruptcy attorney to advise you:

  1. whether to file bankruptcy,
  2. what chapter to file,
  3. what exemptions to claim.

You expect a board certified specialist for your doctor.  Expect it for your lawyer, too.  Meet our attorneys.  Mark Neis and Jill Michaux are the only board certified consumer bankruptcy law specialists in Topeka and two of ten in Kansas.

Finding a Bankruptcy Attorney Outside Kansas

DIY Means Test Like Doing Your Own Surgery

Video: What is the Bankruptcy Discharge?

Bankruptcy Won’t Discharge These Debts

Will I Lose My Bankruptcy Case?

Bankruptcy Crimes

Kansas Home Foreclosures Up 40%

The home mortgage foreclosure crisis got dramatically worse in Kansas in July, August and September 2009. RealtyTrac, a California company that tracks foreclosures, reports 3,402 foreclosure filings in Kansas during the third quarter, an increase of almost 40%.

The Kansas foreclosure rate is below the national average of one in every 136 households. The foreclosure rate in Kansas is 31st in the county at one in every 358 households.

Truth About Mortgage Modification – Few Getting Help to Stop Foreclosure

Foreclosure Prevention Toolkit

Video: What Happens at Bankruptcy Court Hearings?

Video: What are Bankruptcy Crimes?

Examples of bankruptcy crimes:

Fraudulent transfer of assets

Hiding property from the bankruptcy trustee

Making false statements in bankruptcy

Disobeying a bankruptcy court order

Video: What Happens at My Bankruptcy Hearing?

Watch what happens at a bankruptcy meeeting of creditors, also known as your 341 hearing.

What will they ask me at my bankruptcy meeting?

Retired, Broke, Bankrupt

The over-55 crowd is the mostly likely age group to declare bankruptcy, the AARP says.  This group is carrying mortgages, home equity loans and credit card balances.

According to an AARP study, over half of this group spends most of their income paying down debt.  A quarter of these folks pay over 75% of their income reducing debt.

Video: How Do I File for Bankruptcy?

How to Get Started Filing for Bankruptcy

How to Get Your Bankruptcy Certificate from a Credit Counselor

Documents to Gather for Your Bankruptcy Attorney

Video: Bankruptcy Won't Help With These Debts

What Is NOT Discharged in Bankruptcy  Video:  Running Time 4:34

Child support, alimony

Student loans

Most federal and state income taxes

Employer payroll taxes and sales taxes

Loans obtained by fraud or false pretenses

Liens on property such as homes and cars

Video: What are the Types of Bankruptcy?

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)

Video: Bankruptcy Basics Overview

Introduction to Bankruptcy

Running Time (2:38)

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

[Read more…]

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:

  1. one earner household $41,357 (up $353)
  2. two person household $57,767 (up $1621)
  3. three person household $63,438 (up $193)
  4. four person household $72,610 (down $2016)
  5. 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.

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