Kansas City, MO asked in Bankruptcy for Kansas

Q: Is there any advantage to filing for bankruptcy in one state versus another?

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2 Lawyer Answers
David Earl Phillips
David Earl Phillips
Answered
  • Bankruptcy Lawyer
  • Nashville, TN

A: Depending on the State the exemptions may be better in one State vs. another. To prevent shopping for a State to bankrupt in, you must be a resident of a State for 2 years before you can claim that States's exemptions. This can be complicated depending on your assets. See a bankruptcy lawyer near you to see what your options are. As a resident of Kansas, you may be able to claim either State or Federal exemptions. Hope it works out. Good luck!

David Adams
PREMIUM
David Adams
Answered
  • Bankruptcy Lawyer
  • Olathe, KS
  • Licensed in Kansas

A: You will be limited in which state you are eligible to file based on time of residency, but, yes, some states are much better to file in than others. Kansas is a state with better exemptions for property you may own than many others, especially compared to Missouri

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