Having grown up during one of the worst agricultural financial crisis in generations, Shane fully understands financial stress and the serious effects of an economic down turn. If you find yourself in a financial crisis due to injury, accident, medical condition or an economic downturn, Shane considers it a privilege to discuss with you the various options available to you and assist you through your crisis, whether it be through a negotiated deal with creditors or a formal bankruptcy filing.
A petition for relief through bankruptcy may be filed by an individual, jointly with spouses or by a corporation or other entity. There are several different chapters or types of bankruptcy in the U.S. Bankruptcy Code. Individuals may file under Chapter 7 or Chapter 13, depending on their financial situation. Filing under Chapter 12 provides relief for farmers and fisherman. Business entities and corporations may file under Chapter 7 for complete liquidation or under Chapter 11 for reorganization. These are the more commonly-seen types of bankruptcy filings in the area of Southwest Kansas; however, you can learn more about the different bankruptcy chapters and rules by visiting the U.S. Bankruptcy Court website.
Bankruptcy can have long term consequences. Prior to filing a petition, seeking the advice of a qualified bankruptcy attorney is recommended.