Bankruptcy Attorney In Lee’s Summit For Those Drowning in Debt

Bankruptcy Attorney in Lee's Summit
Need a bankruptcy attorney in Lee’s Summit to help you figure out the best solution for your financial problems? If you feel like you are drowning in debt and can’t see a way out, contact Jeff Gedbaw at the Gedbaw Law Firm, LLC. We serve clients in Lee’s Summit, Overland Park and the Greater Kansas City Metro area.

Most Americans are just a couple of missed paychecks from financial disaster. According to a recent survey by financial management firm Charles Schwab, 59% of Americans live paycheck to paycheck. Even if you’re careful with your money, a sudden job loss, unexpected medical expenses or a natural disaster can result in debts that you are unable to pay. Even worse, the COVID-19 pandemic has pushed a startling five million more people into poverty. If you’ve reached the end of your financial rope, you may need to consider filing for bankruptcy.

Thousands of Americans go through this process every year. As a bankruptcy attorney in Lee’s Summit, Jeff Gedbaw has the experience and knowledge to help you navigate this complex process and get back on your feet.
There are two types of bankruptcy. Under Chapter 7 bankruptcy, you are able to completely discharge debts, meaning that those debts never have to be repaid. Under Chapter 13 bankruptcy, some debts may be repaid over a specified time period at lower payment rates than previously. 
Many people fear that filing for bankruptcy means they will never be able to obtain credit again. They are sure that this will prevent them from ever owning a home, buying a new car, or having a credit card. This is simply not true. The fact is, a bankruptcy can clean up your credit report. This is because after your debts are discharged, it will show zero balances owed to your unsecured creditors, rather than the tens of thousands of dollars that you may currently owe. Bankruptcy may also reflect better on your credit than repossessions, foreclosures, or even late payments. Your debt-to-income ratio, which creditors consider when granting new credit applications, will also improve. Although a Chapter 7 bankruptcy may remain on your credit report for up to 10 years, most people resume normal credit activities immediately after receiving their discharge. The interest rates may not be the best, and you may have to go through a waiting period, but you can start to rebuild your credit right away. One way to do this is to stay current on any payments you owe. If you take steps to rebuild your credit and stay current on payments after you receive your discharge, you may be able to qualify for an FHA mortgage in as little as two years after your case is complete.
If you would like to find out more about your options under bankruptcy, contact the Gedbaw Law Firm, LLC at (816) 379-5329 for a free consultation. Jeff is licensed to practice in both Kansas and Missouri and can also represent you in Federal bankruptcy court if required. We offer the best in expert legal counsel with a friendly and compassionate manner you will appreciate. Don’t wait for your creditors to take legal action against you. If you need a bankruptcy attorney in Lee’s Summit, Overland Park or the Greater Kansas City area, call us today. We can help!

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