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Of all Kansas bankruptcies filed recently, Chapter 7 remains the
vehicle of choice for quick discharge and a fresh start. The Kansas
bankruptcy exemptions allow each person to retain real estate and
personal assets, up to a state statutory limit on value, when filing for
liquidation under Chapter 7.
As a condition of qualification, the Kansas median wage, or more
appropriately, Kansas median income for state residents, is used as the
basis for means testing. Only people who offer credible proof that
actual earnings are less than state median income may file chapter 7 and
claim exempt property. In practice, the Kansas bankruptcy exemptions
also impact plan confirmation in Chapter 13, but in a less direct
application.
See also: Kansas Homestead Exemption.
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