Once you file and have a case number, creditors will no Louisville Bankruptcy Attorney longer legally be able to pursue you. In chapter 13, you will pay back your creditors, including the one trying to garnish you, with plan payments. In a chapter 7 bankruptcy, as long as the debt is dischargeable, they can take no further action against you. When you’re going through a financial hardship, declaring bankruptcy may be an option to remedy your situation.

Attorney Tracy Hirsch will help you determine if a Chapter 7 bankruptcy or Chapter 13 bankruptcy will best suit your specific situation. Unpaid medical bills, high credit card APRs, garnishments, and judgment liens can destroy your financial status and cause extreme emotional distress. At Hirsch Law, we believe that educating prospective clients is the foundation for a successful bankruptcy filing. Click on the questions below to learn how bankruptcy can protect your home, car, wages, and more. Though a repo seems like nothing but bad news all around, there is a silver lining. There are a few ways you can get your car back from repossession.

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.

Working with an attorney may even give you the leverage you need to strike a deal with your lender. We generally recommend speaking with a lawyer as soon as possible after you receive the breach letter. Waiting too long could prevent attorneys from being able to help you effectively. Let’s say you have fallen behind on your mortgage payments, but the foreclosure process has yet to officially start. The servicer of your mortgage can begin to charge fees during this time.

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Below, we briefly outline how these companies work, as well as what to look out for. When you hire Hughes Law Group, you’re getting more than professional representation. Whatever your legal needs or questions are, Hughes Law Group is here for you.

Some of these questions will attempt to uncover whether or not you intend to abuse bankruptcy laws or whether you’re making improper payments. A common example of bankruptcy law abuse is going on a massive shopping spree right before filing for bankruptcy. If it looks like you bought very expensive items within a certain time frame, trustees may assume that you planned to file for bankruptcy in order to afford these items.

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The final steps in your Chapter 7 bankruptcy timeline are discharge and conclusion. If nobody files an objection and you satisfy all other requirements, the bankruptcy court will enter an order discharging your debts. To find out exactly what Chapter 7 bankruptcy can do for you, read our related blog post. A court-appointed bankruptcy trustee oversees your Chapter 7 bankruptcy.

A redemption period allows borrowers to buy back their home after the foreclosure sale. Kentucky law allows a redemption period of six months if the home is sold for less than two-thirds of its appraised value. If you fail to give an answer, the court will likely award your lender with a default judgment. This allows the lender to foreclose on your home and hold a sale.

Over 90 percent of Consumer Chapter 7 cases are uncontested and take about the same amount of work. The 2020 average wage for a worker in Kentucky is about $44,000 dollars per year. The average Chapter 7 bankruptcy attorney fee in Louisville, Kentucky, ran $1200 for a single and $1400 for a couple until 2019.

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. We will review your finances and recommend some Kentucky debt relief programs that may help you.

In Chapter 12, Congress aimed to integrate the aspects of the Bankruptcy Code that can help family farmers and fishermen reorganize their businesses. Chapter 7 will not prevent your house from being foreclosed on, but it will postpone it. The procedure for filing this sort of bankruptcy claim usually takes 3 to 6 months. Fees should be based on how complicated a job description of the case is. Unless you have to file a motion to redeem or strip a lien, it is rare for you to need additional work in Chapter 7 after the case is filed.

You also have to work together with the attorney to get the bankruptcy done right. He can’t gather your bank account and other records for the court. Chapter 12 debtors might be married or single people, businesses, or partnerships.

If something comes up while you are in your plan, please reach out to us as soon as possible so that we can go through the proper steps to make your plan successful. The structure of your filing can significantly impact the outcome of your case and the financial position you will be in after your discharge. Schedule an appointment with one of our attorneys today to go over your options and what is best for you. Technically, you must receive court approval before applying for new lines of credit while your bankruptcy process is ongoing. However, it’s important to remember that you might not qualify for certain types of credit for a while after you file.

Before you can file bankruptcy you must meet receive credit counseling from an approved credit counseling agency. Fortunately, O’Bryan Law Offices offers approved Kentucky credit counseling. Filing a Chapter 7 or a Chapter 13 bankruptcy places an automatic stay on your creditors. The stay keeps the creditor harassment at bay and stops further collection attempts on most of your debt. However, creditors may petition the court to lift the stay and allow the resumption of collection activity.

Mississippi born and raised, Attorney John Hughes is committed to excellence, and has been successfully representing our clients since 2002. Filers who’ve lived in Kentucky for at least two years can choose to use federal exemptions or state exemptions. However, you’ll need to examine both to see which provides the best protection for the assets you have. Even though you’re meeting with your trustee and not a judge, you must still arrive on time and dress appropriately. If you’re working with an attorney, they’ll complete the forms based on the information and documents that they collect from you. If you’re filing without an attorney, you’ll have to complete the official forms yourself.