Even Judges File Bankruptcy

No one is immune from the threat of bankruptcy.  Most people are just a couple of missed paychecks away from filing bankruptcy in Kansas City.  In fact, a federal judge recently filed for bankruptcy.  U.S. District Judge Otis Wright filed for Chapter 7 bankruptcy on December 26th in Los Angeles.  Wright makes approximately $174,000 a year.  He and his wife alleged assets of $833,000 and liabilities of $895,000 including $30,000 on a Citibank credit card and more than $17,000 owed to two department stores.  Their income had steadily declined from just over $271,000 in 2009 to $171,366 last year.  The trustee has applied to hire a real estate agent to put their home up for sale for nearly $1.2 million.  The full story is here:  http://blogs.wsj.com/law/2012/04/25/federal-judge-like-so-many-others-files-for-bankruptcy/ 

For more information about bankruptcy in Kansas City please visit my website at http://www.thesmalleylawfirm.com or call me, Kansas City bankruptcy attorney Cary Smalley at The Smalley Law Firm, at (913) 601-3549 for a free consultation.