An attorney can help you make the best decisions to protect your financial future without paying more than you should to achieve debt relief. If you have credit card debt, are struggling to handle a debt collector, or are in need of a credit counselor, we’re here for you. Those who are overwhelmed by their debt should avoid shady companies that don’t have their best interests at heart. If you want to get a debt consolidation loan with bad credit, these companies may try to take advantage of you.

We have world-class funders that include the U.S. government, former Google CEO Eric Schmidt, and leading foundations. If you make more, to qualify for Chapter 7 bankruptcy, you’ll have to pass the second part of the means tests. It considers your types of debt and whether or not you have enough disposable income to pay your debts.

How Much Does It Cost To File Bankruptcy In Kentucky?

However, it’s also important to note that poverty levels have actually fallen in Kentucky in recent years. While it may not be a radical change, it is still a noticeable level of improvement. Below, we list other notable indicators of Kentucky debt for consumers. With more than 600,000 people living within city limits, it’s no wonder that many of our cases come from families and individuals who live or work in the city of Louisville.

Before 2019, having the attorney do all the work pre-filing and paying attorney fees after the case was filed was considered unethical. This is because as soon as the case is filed the debt to the attorney for work done pre-filing is stayed and later discharged. Here is a 56-minute February 2015 audio of a judge hauling both the attorney and his clients into court over collecting attorney fees after their cases filed. In fact, about 30 of his clients were hauled in for paying his fees after the case filed.

Filing for bankruptcy creates an “automatic stay,” which will halt the foreclosure. The automatic stay prohibits the bank from foreclosing on your home. Therefore, foreclosure must be halted during the bankruptcy process.

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The court will create a payment plan for you, generally on a monthly basis, that permits you to pay off sections of your debt over time. The court might order you to keep to a strict budget in addition to structuring your payment arrangements. They can even double-check your expenditures to ensure you’re on track. If your debts were dismissed in a previous Chapter 13 case, you won’t be able to get a discharge in a future Chapter 13 until you file it at least two years after the first one.

To learn about your options and how to start the process, contact Farmer and Wright, PLLC. Before anyone can file bankruptcy they must complete a short online credit counseling course. Navigating the bankruptcy process can feel overwhelming, but knowing what to expect can ease your concerns. At Hodge & Smither PLLC, we prioritize transparency and communication, ensuring that you are informed every step of the way.

Filing for bankruptcy before divorce actually benefits you in a multitude of ways. For starters, it allows you to pay only one filing fee and split the cost of your legal counsel for bankruptcy. It also has the potential to help your property division go more smoothly. In a typical divorce process, the court divides both the assets and the debts. However, if you file for bankruptcy before divorce, you can discharge your unsecured debts. Then, the court will not split those debts, and neither you nor your spouse will pay for them.

Facing a foreclosure proceeding can cause a lot of stress, but working with an attorney helps. Don’t try to tackle this complicated and stressful process on your own. Let an experienced lawyer from O’Bryan Law Offices evaluate your foreclosure case and inform you of your legal rights. As soon as you file for bankruptcy, the court issues an automatic injunction known as the automatic stay. This requires creditors to halt their collection efforts against you, which can include lawsuits, garnishments, and more.

On the other hand, Chapter 7 is not the best choice for small businesses, and many don’t undergo this bankruptcy proceeding. Generally, businesses undergoing Chapter 7 will be forced to shut down while not receiving a debt discharge. Small business owners would receive more benefits through this chapter of bankruptcy if they just filed as an individual. They will also look at how much money you had in your accounts before you filed bankruptcy. This actually helps bankruptcy filers protect their money with any exemptions available to them. If you’re unsure of whether or not you qualify for certain exemptions, we recommend speaking with an attorney at a debt relief agency.

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However, this is simply an average and does not reflect any type of law. If you plan on financing a car, you’ll first need to sign a loan contract. This contract will define what the lender considers to be a loan default, whether it be one missed payment or multiple. This contract also essentially establishes the car as collateral, should your payments become delinquent. It is what gives the lender permission to repossess the vehicle, if need be. Located in Louisville, Kentucky, the Fauver Law Office has been serving Kentucky and Southern Indiana residents for over 20 years.

If possible, they can help you avoid foreclosure by the bank or the mortgage company. The attorneys at the family-based, O’Bryan Law Offices can walk you through this intimidating time. Chapter 7 bankruptcy is the most suitable option for many individuals and even some businesses. With over 50 years of combined experience, our attorneys can provide the personalized, knowledgeable guidance you need. Both Kentucky and Indiana have detailed schedules of exemptions that allow you to claim certain property as unavailable to creditors. In most cases, holders of unsecured claims collect little or nothing from you, and you keep everything you have.

When you have gathered all of your documents and completed your online credit course you are ready to file. The last step is to make your final payment and drop off or email all of your documents to us. Once we have everything, it only takes a few days to get your bankruptcy case prepared and filed.

For this, the Department of Education can garnish up to 15% of your disposable income. The federal government has placed limits on amounts for garnishments. Weekly garnishments may not exceed the lesser of the following limits.