Written by the Upsolve Team.
Updated October 1, 2020
The state motto of Kansas is a Latin phrase that translates to "To the stars, through difficulties." The very foundation of being a Jayhawk acknowledges that to reach what may feel impossible at times, one must first navigate significant challenges. If you are struggling to make ends meet, no matter how hard you work, you are familiar with what it means to navigate significant challenges. Thankfully, there are resources available that will help to get you through some of these challenges and a little closer "to the stars." For example, many Kansans file forChapter 7 bankruptcy to get out of an unmanageable debt load. Lower-income households that meet certainincome limits are generally eligible for this process. It is uniquely beneficial among various kinds of Kansas bankruptcy because it simultaneouslyerases most or all of an applicant’s debts while allowing that applicant to keep most or all of their property, all in the span of 4 months or less. To qualify for this fresh financial start, individuals and families must pass the Chapter 7 Means Test. This evaluation compares your income, expenses, and debts to determine whether those debts can reasonably be paid off over time.
Kansas Median Income Levels
Kansas Median Income Standards for Means Test for Cases Filed On or After May 1, 2020
|Household Size||Monthly Income||Annual Income|
Discharge in Bankruptcy for Kansas
The process of erasingmedical debt, credit card debt and other eligible financial burdens following a Chapter 7 bankruptcy is commonly referred to as getting a discharge. A Kansas bankruptcy discharge is only granted after all steps of the process are completed. If you are eligible for this benefit, you may want to seriously consider filing for Chapter 7 bankruptcy, as doing so will ease your monthly financial obligations significantly. When debt is eliminated, families can concentrate on their immediate needs and on becoming financially healthier down the line. If you pass the Chapter 7 Means Test, the process will be so straightforward that you can likely complete it without hiring an attorney.
Kansas Means Test Calculator
One of the easiest ways to determine whether you are likely to qualify for Chapter 7 bankruptcy involves using an online Kansas Means Test calculator. This tool will allow you to compare your own household size, income and expenses against the requirements that determine your ability to file your Kansas bankruptcy as a Chapter 7. Your Means Test results will inform your decision to file (or not file) for bankruptcy relief. Therefore, it’s important that these results are accurate. Unfortunately, not all online Means Test calculators are regularly updated as income limits and other important standards change. Thankfully, the legal aid nonprofit organization Upsolve maintains current, state-specificMeans Test calculators at all times. As an added benefit to using these calculators, you can reach out to the legal aid team at Upsolve at any time if you have questions about your results. Thisnonprofit organization provides bankruptcy legal aid to low-income filers and helps higher-income filersfind attorneys to assist them with debt management solutions.
What Happens if I Fail the Means Test for Kansas?
If your Chapter 7 Means Test results indicate that you are not a prime candidate for this specific kind ofKansas bankruptcy, please don’t panic. There are other debt relief options that may be right for you and your family. For example, many residents of the Sunflower State benefit from filing forChapter 13 bankruptcy. This debt management option is commonly referred to as "reorganization bankruptcy" because it allows filers to restructure their debts to make them more manageable. Sometimes, all it takes to get a family's finances back on track is significantly lowering their monthly debt payments. Like Chapter 7 bankruptcy, Chapter 13 bankruptcy allows families to focus more on their immediate needs and financial wellbeing rather than the stress of piles and piles of overdue debt. If you are interested in exploring some Chapter 7 bankruptcy alternatives, you can schedule a risk-freeconsultation with an attorney.