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The Basics Of Bankruptcy


If you want an introduction to bankruptcy but don't have time to sift through our entire blog, here are the twelve posts that will give you a good start. Together, they cover the basics of bankruptcy.
  • What Is Bankruptcy?: Bankruptcy is a system of courts and statutes, and its purpose is two-fold: give a debtor a fresh start and make sure the creditors get their fair share.
  • Is Bankruptcy Right for Me?:There are certain events that I feel are strong indicators you should explore if bankruptcy is right for you. I have listed my top 10 red flags in this article.
  • What are my Options: Other Forms of Debt Relief: Generally speaking, there are three ways to get rid of a debt: pay it off, settle it, or discharge it by filing bankruptcy, all of which have pros and cons.
  • What are the different types of creditors (and why does it matter): Bankruptcy isn't "one size fits all," and an important factor for determining which type of filing will be best for a given debtor is the type of creditor.
  • The Cost of Bankruptcy: The people who most need to file bankruptcy don't have money to burn, but the majority of people who have asked me about bankruptcy have been able to file.
  • The Logistics of Bankruptcy: If you're considering filing bankruptcy in Kansas, it's helpful to know what to expect in terms of logistics.
  • Credit Counseling Courses within Bankruptcy: One hurdle that must be cleared prior to filing a bankruptcy is the government-mandated pre-filing credit counseling course.
  • What are Bankruptcy Schedules?: Bankruptcy schedules are forms created by Congress for the purpose of disclosing information necessary for the effective filing and processing of a case.
  • The Exemption: Your Best Friend in Bankruptcy: Bankruptcy law includes a mechanism known as an exemption that protects specific assets from being seized during bankruptcy. This article looks at which ones are available in Kansas.
  • Putting It All Together: The Bankruptcy Estate: A "bankruptcy estate" consists of everything you own at the time you file bankruptcy, plus a few other tricky things. Fortunately, we're here to help!
  • The Chapter 13 Plan: What Is It?: The Chapter 13 Plan is an essential feature of that type of bankruptcy, allowing debtors to repay a portion of their debts.
  • Discharge: Outcomes for Debt in Bankruptcy: Generally speaking, there is one of five outcomes for any given debt in a bankruptcy, and the most common one by far is discharge.

Official Sites & Legal Resources

  • U.S. Bankruptcy Court, District of Kansas: Official site of Kansas' Bankruptcy Court.  Contains information about the court (including contact information and dockets) as well as court resources and forms.
  • Legal Information Institute: Free resource available to the public.  Provides access to state and federal laws, codes, and statutes.  Published by the Cornell University Law School.
  • WashLaw - Legal Research on the Web:  A thoroughly-documented directory of federal, state, and local government branches, agencies, and departments.  Each entry contains links to official websites, contact information, and forms and other resources.  Published by Washburn University School of Law and free to the public.
  • Oyez - US Supreme Court Media:   Multimedia archive devoted to documenting, briefing, analyzing, and making available to the public the work of the U.S. Supreme Court. Published and maintained by Chicago-Kent College of Law.
  • Penney & Associates Injury Lawyers: Personal Injury Attorneys practicing law in California. They have over 100 years of combined experience in personal injury and wrongful death cases, and most of their lawyers have over 20 years experience in personal injury.

Consumer Resources

  • Bankruptcy Law Network: Blog written by a network of bankruptcy attorneys and consumer advocates. Excellent resource for consumers wanting additional information about their rights and options. All articles are internally reviewed by a panel of legal professionals.
  • Radio Law Talk: The Radio Law Talk show and podcast is an entertaining and informative discussion hosted by attorney Frederick W. Penney. Mr. Penney, along with fellow co-hosts and guest attorneys, discuss the latest and greatest trending legal topics and news stories.
  • Dave Ramsey: Official site of renowned financial adviser Dave Ramsey. Provides strategies for those who would like to avoid bankruptcy by better managing their money and paying off their debts.
  • Law Guru: Legal information website covering a broad number of areas.  The most unique aspect of this site is the question and answer segment where a person can "retain" limited services of an attorney to get legal questions answered.
  • Mack & Associates, LLC: Our own bankruptcy portal, including a link to our bankruptcy blog.
  • Hyatt Legal Plans: Our own page about our participation as providers for Hyatt Legal Plans.
  • Kansas Legal Services: Non-Profit law firm providing reduced fee services to financially qualifying people in Kansas.
  • Other Local Resources: Other local resources for Kansas debtors.