Bankruptcy is a last resort for people to turn to. But when you need it, the help can be incredible. More people than you may realize have to file for bankruptcy. Out of the entire United States, Missouri comes in at 14th for bankruptcy filings. In just September of 2015, the state saw a total of 14,489 total filings for bankruptcy. Those numbers represent a full and busy year for the Kansas City bankruptcy lawyers dedicated to helping people and businesses get out of the debt that has held them back for so long. The reasons behind each bankruptcy filing may be different, but everyone who files for bankruptcy has reached a point where they need help to start over. Not all bankruptcies are the same, and the one you qualify for will depend on your specific debt and financial needs. When Missouri residents need a Kansas City bankruptcy lawyers, they have access to the best. With professional help you can find out what is best for your specific situation, and be on your way to a new start. Be that as it may, there are some consistent similarities and trends that lawyers saw this year in Missouri. The vast majority of bankruptcies filed were chapter 7’s. Of the 14,489 that were filed by Missouri residents by September 2015, 69%, or 9,906 of them were chapter 7’s. Chapter 7 is one of the more common consumer bankruptcy types filed by individuals or businesses who have more debt than they are able to pay. Any assets that are able to be liquidated are, and those funds are turned over to a trustee who pays what can be paid to creditors. Creditors are not allowed to ask for anymore payment from you after that is accomplished, and the remainder of the debt is cancelled. After chapter 7’s, chapter 13’s make up the most filings. They made up 4,537 or 31% of all the bankruptcies filed in that month. These types of bankruptcies help people make manageable payments on a three to five year schedule. You pay anywhere from 10% to 100% of what you originally owed to creditors. This amount is determined by your annual income, debt amount and the type of debt you have. The economy is still recovering from the 2007 recession, and this year saw more growth than in previous years. Accordingly there were less bankruptcies this year than last year. Bankruptcy attorneys in Kansas City had 9% less filings than they did last year. These numbers resulted in a total of 3.23 bankruptcy filings per capita by September 2015. The statistics resulted in Missouri having the 14th highest rates of bankruptcy filings in America. It’s impossible to know what the future may hold. But when it comes to debt, you can be sure that Missouri bankruptcy lawyers will be there for you when you need it most. Although the precise cases behind your bankruptcy may differ from another person’s, a bankruptcy lawyer can help you. There’s no reason to stay in debt. Talk with an attorney today.