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Kansas Bankruptcy Exemptions

When someone lost everything, they still had a barrel. Your stateu2019s laws define the size of your barrel. if our married couple in the example above filed in kansas, they can still protect their own vehicles but may not be able to protect the 3rd. For more information about related Exemption Bankruptcy, contact our attorney and call us today at 816-578-0286.

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Kansas Bankruptcy Exemptions

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  1. Exemptions Bankruptcy Exemptions protect certain types of your property from your creditors. State law protects the equity in your home, car, retirement, clothing, tools, and other important property. Means that a married couple filing a joint bankruptcy case in the State of Missouri can protect 6,000 cars if each is worth only $1. Or, more likely: Vehicle 1 is worth $12,000 and you owe $10,000 = $2,000 equity Vehicle 2 is worth $20,000 and you owe $19,000 = $1,000 equity Vehicle 3, driven by Daughter is worth $3,000 and is paid off = $3,000 equity Our Debtors can protect all 3 cars because the total equity is only $6,000. Contact Us Jeppson Law Office 5716 N Broadway, Gladstone, MO 64118, USA info@jeppsonlawoffice.com 816-578-0286 www.jeppsonlawoffice.com

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