If you’re unsure if your particular debts will allow you to file, here’s how to determine if it’ll help your specific situation. Learn about what Kentucky Bankruptcy Lawyer bankruptcy is, and what your legal rights are when it comes to your assets. Don’t lose another night of sleep due to creditor phone calls and unpaid bills.

 

Attempting to collect from your former spouse, on the other hand, generally entails paying more money to pursue them in court. As a result, filing for bankruptcy and wiping away both parties’ total debts before a divorce may be in both spouses’ best interests. The property division process in a divorce will be simplified if you jointly wipe out your debts through bankruptcy. However, before you file a combined bankruptcy, be sure your state provides adequate exemptions to preserve all of the property you and your spouse hold.

 

In 2019 these fees increased nationwide to about $1,400 and $1,600 dollars. Nationwide, the attorney fee for filing a normal Chapter 7 uncontested bankruptcy has been about the same cost as a nice GE refrigerator at Lowes. If you have been garnished before you filed for bankruptcy, it is possible to get some of your garnished wages back. Funds in excess of $600 taken within the ninety days prior to filing can be recovered. Any amount that is taken after the filing date can also be recovered. Usually, a refund check will be sent to your attorney for you to pick up.

 

In this way, we protect our clients from being bogged down with attorneys’ fees when they’re already struggling. We can also advise you on the best course of action for your individual situation. Filing for Chapter 13 bankruptcy is another option available for homeowners. You will have to prepare a repayment plan for your creditors and have it approved by your bankruptcy trustee. As with Chapter 7, you’ll get an automatic stay when you file, and it will last as long as the bankruptcy proceedings are in effect.

 

Before we dive into the meat and potatoes of a debt settlement program and debt consolidation program, we’ll provide you with some notable Kentucky debt statistics. A divorce simple and relatively inexpensive to complicated and costly. If you and your spouse can agree upon the terms of your divorce, the quicker and more inexpensive it will be.

 

Information provided during the initial consultation is privileged through attorney client relationship.We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code. The Louisville wage garnishment lawyers at O’Bryan Law Offices are familiar with all aspects of debtor and creditor issues as well as bankruptcy law. Our firm focuses on providing relief to clients experiencing financial stress. Our dedicated garnished wages lawyers review the unique facts of your situation and propose a relief plan that best addresses your needs and requirements. You can usually consolidate any kind of debt that doesn’t have collateral.

 

Chapter 12 Repayment Plan

 

The most common kind of bankruptcy filed by individuals is Chapter 7 bankruptcy. This is when the court appoints a trustee to oversee the sale of your assets. Any valuable possessions you have may be sold to pay off your obligations. Although courts may provide exemptions for essentials such as your home, car, or retirement savings, this is not a certainty. You can declare for bankruptcy more than once in your lifetime.

 

Bankruptcy’s Benefits And Drawbacks

 

However, the lender can then file a Motion to Lift the stay on your foreclosure, and probably will. Because a Motion to Lift is often hard to fight, Chapter 7 bankruptcy will probably only delay foreclosure. The only way to avoid a Motion to Lift is to catch up on your payments, which may be possible if you don’t have to worry about your other debts. The prospect of losing your home due to insurmountable debt can be devastating.

 

We can protect you, and help you obtain the financial freedom you deserve. Bankruptcy law helps individuals and businesses in debt get a fresh financial start, often through proceedings under Chapter 7, Chapter 11, or Chapter 13 of the Bankruptcy Code. There are a number of state-sponsored programs and federally-sponsored programs available for the working residents of Kentucky that may help. Below, we list some of the assistance plans that could help those struggling with debt and bills.