Do you need a Chapter 7 bankruptcy attorney in Lee’s Summit? If your finances have gotten completely out of control, contact Jeff Gedbaw at the Gedbaw Law Firm, LLC. He can help you decide whether filing bankruptcy can solve your money problems.  Our office serves clients in Lee’s Summit as well as in Overland Park and the Greater Kansas City Metro area.

 

Even people who manage their money carefully can get into financial trouble. Unexpected medical expenses, a  job loss, house fire, car accident or natural disaster can quickly overwhelm your ability to pay your debts. High-interest rate credit cards, bad auto loans or overdue taxes can also wreak havoc on your financial stability. According to a study by Lending Club, 54% of Americans are living paycheck-to-paycheck. Under those conditions, it’s easy to see how a single financial setback could spell disaster. If you find yourself in this situation and  need a Chapter 7 bankruptcy attorney in Lee’s Summit, the Gedbaw Law Firm is ready to help.

Many of us have experienced financial hardship and the stress that comes along with it. You may be busy at your job and your phone rings. Your heart sinks when you see the number. It’s another bill collector hassling you for money you don’t have. After a long day at work you can’t face looking at the stack of mail that awaits you. Seeing the words PAST DUE on so many of your bills makes you feel like a failure. One advantage of filing for bankruptcy is that it stops all of that. Once you file, all communications with creditors will be handled by your Chapter 7 bankruptcy attorney in Lee’s Summit. 

There are two types of bankruptcy. With Chapter 7 bankruptcy, you are able to completely discharge all of your debts. That means that your creditors can no longer attempt to collect any of the money you owe them. However, not everyone qualifies for it. In 2005, Congress added a means test to determine whether someone is eligible for Chapter 7. Those who are not eligible for a complete discharge of debts have to file  Chapter 13, sometimes referred to as “reorganization bankruptcy.”

 

People often believe that filing for bankruptcy means they will lose everything they’ve worked for. This is not the case.  Under Chapter 7 bankruptcy, you can protect certain types of assets from loss. The rules for this are different in Federal court than in State court, and also vary between Kansas and Missouri state laws. That’s why it’s so important to have a bankruptcy attorney who is knowledgeable and experienced handling your case.

 

The stress of financial troubles can impact your health, your sleep, and your relationships. Studies have shown that financial stress is the number one cause of marriage problems, and money problems are the third-leading cause of divorce. But don’t despair! Help is available. If you need a Chapter 7 bankruptcy attorney in Lee’s Summit, Overland Park or the Greater Kansas City Area, contact the Gedbaw Law Firm, LLC at (816) 379-5329 for a free consultation. Jeff Gedbaw is licensed to practice in both Kansas and Missouri and will handle your case with care and compassion.