Legal Question in Bankruptcy in Kansas
Bankruptcy Exemption Laws
Because of a failed business(partnership), bankruptcy is certain. We want to include our credit card debt used to loan the business operating capital, but also need to reduce the amount we are paying on our mortgage. When we started the business we took out a second mortgage on the house for business capital. Is there anyway that we can keep our house and reduce the mortgage payment at the same time? (All the credit cards are in our names not the businesses, except for one.)
1 Answer from Attorneys
Re: Bankruptcy Exemption Laws
I urge you to contact legal representation who is familiar with bankruptcy filings. . .there are no easy answers, and you must provide far more detailed information. This is not an area of the law in which to attempt to economize. . .it'll cost you more in the long run every time.
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