For many people, this type of debt management plan appeals to their desire for a lower interest rate. In fact, it can even be a good idea for those handling a more manageable amount of debt. It essentially allows you to combine different debts with different due dates, payments, and Louisville Bankruptcy Lawyer interest rates into one easy payment. Those struggling with managing their debt are often desperate for a solution. That’s where debt settlement and debt consolidation companies come in. In many cases, a debt settlement company will target vulnerable individuals seeking debt settlement services.
If so, most likely one of the most important things to you is ensuring the profitability and success of your business. Unfortunately, we live in uncertain times, and you may find it difficult to keep your business up and running without some financial assistance or the help of an attorney. For detailed advice about your situation and your options, there’s no substitute for talking to an experienced bankruptcy attorney. We have years of experience with bankruptcy law and do not recommend filing bankruptcy without the help of an experienced attorney. Contact us at O’Bryan Law Offices with convenient locations in Louisville, Frankfort, or New Albany to Schedule a Free Consumer Bankruptcy Consultation.
Shively Bankruptcy Lawyers
Bankruptcy trustees usually require you to make this payment through a certain method, so be sure to verify this before submitting your payment. If a creditor continues to attempt collection after the automatic stay is in effect, you may be able to sue them in court. Once you have completely filled out your bankruptcy petition and all statements and schedules, you should meet with your bankruptcy attorney to review them for accuracy. Then, after you verify that the information on those documents is true and accurate, you must sign every document. Either that same day or the next day, you will submit these documents along with your bankruptcy petition to the bankruptcy court.
Kentucky Debt Consolidation
However, some types of debt cannot be discharged in bankruptcy, such as child support, alimony, student loans, and most taxes. Some bankruptcy attorneys in Louisville may require a retainer fee upfront. This is a payment made by the client to the attorney before any work is done. The attorney will then draw from this account as they work on the case.
I have been practicing bankruptcy law primarily since 2016 and I truly enjoy the work that I do. The quick and complete relief I am able to provide my bankruptcy clients makes all of the hard work worth while. My career has been solely focused on helping people file for bankruptcy under Chapter 7 and Chapter 13 since 2007. It enables individuals with a steady income to develop a strategy to repay all or part of their debts.
If this happens, your lender must notify you of the lawsuit by serving you with a summons and a complaint. Kentucky law gives borrowers 20 days after service to answer the complaint. Homeowners who are facing foreclosures should seek legal aid from a qualified foreclosure defense attorney.
Kentucky Districts & Filing Requirements
For example, creating a trust is a great way to protect your assets from the probate process. The process can be a little complicated, so you should always consult with the counsel of a skilled trust attorney. He or she can advise you on appointing a trustee that will manage any property or assets of the trust and distribute them to your appointed beneficiaries. As a probate attorney, I know the steps individuals and families can take to avoid the process and better protect their assets. Helping you set up an estate plan allows me to educate you on the many different types of plans, Wills, and trusts. I can show you how each of them will protect and determine what happens to your assets when you pass away.
We’re funded by Harvard University and will never ask you for a credit card or payment. Before declaring bankruptcy, it’s important to review all your options for debt relief. In other words, it’s important to compare other chapters of bankruptcy. As we mentioned previously, Kentucky state law does not govern the process of filing bankruptcy in Kentucky. Rather, federal bankruptcy law determines how the process proceeds. However, Kentucky law does come into play with your bankruptcy exemptions.
Chapter 13 filings, however, can take anywhere from three to five years in total. Consider the pros and cons of both chapters before you take the means test. Examining the benefits that each chapter provides for your situation is one important way of researching the process before you dive in head first. To determine which chapter you qualify for, you’ll have to take a Kentucky bankruptcy means test.
In both scenarios, the consumer is able to emerge from the bankruptcy filing with their “head above water”. Let’s take a deeper look at the similarities and differences between Chapter 7 and Chapter 13 Bankruptcy. Michael devotes his practice to assisting people with debt relief and bankruptcy matters. He will custom-tailor his efforts to each client’s unique situation. Whether filing for Chapter 7 or Chapter 13 bankruptcy, he can help you understand your options while determining the most effective method for becoming debt-free. Bankruptcy filings are generally deleted from your credit report 7 to 10 years after the filing date.
We will help you understand your options and determine which chapter of bankruptcy is right for you. Our clients have dealt with many of life’s challenges, resulting in overwhelming debt. They chose to address their debt head-on and give themselves the fresh start they deserve. Filing a chapter 7 bankruptcy or a chapter 13 bankruptcy can put an end to your wage garnishment. Once you file and have a case number, creditors will no longer legally be able to pursue you.
The means test will calculate your average monthly income and then determine whether you make too much money to file Chapter 7. The income limit for filing Chapter 7 also takes into consideration the number of people in your household. Those who do not qualify for Chapter 7 often file Chapter 13 instead.
According to the Federal Trade Commission (FTC), the Fair Debt Collection Practices Act is the principal federal law that limits how far a debt collector can go to collect. It often works in tandem with the Fair Credit Reporting Act, which outlines how debt collection must be reported in someone’s credit report. If a debt collector participates in collection activities that go against the FDCPA, they have committed FDCPA violations and may face penalties. However, we recommend that you first speak with an approved credit counseling agency. At O’Bryan Law Offices, we offer financial counseling in Kentucky for those trying to be debt-free.
However, your lenders are also required to send you a breach letter, as well as inform you of how you can avoid foreclosure. At Schwartz Bankruptcy Law Center, our goal is to help good people face their financial burdens and get out of debt with confidence. If you would like our help from a dedicated Chapter 13 bankruptcy lawyer, simply contact us today. We are here to listen to your story and help craft the best possible strategy going forward. There are a few exceptions to the automatic stay that generally have to do with child support and alimony obligations. Under some circumstances, a creditor can also ask the bankruptcy court for permission – motion for relief from the automatic stay – to resume collection efforts.
The court will tell you how much the down payment and installments will be. Some filers choose to do this if their wages are being garnished or they’re facing other serious collection actions. That’s because as soon as you file for bankruptcy, an automatic stay goes into effect. Kentucky bankruptcy laws are designed to help you while treating everyone — creditors included — fairly. You can’t use bankruptcy to get out of child support obligations or certain government fines or fees. But Chapter 7 bankruptcy can help you get rid of medical bills and credit card balances that would otherwise take up most of your disposable income.
