You need to know that there are options for resolving your medical debt. If you are overburdened by existing medical debt, give us a call for your Free Kentucky Bankruptcy Lawyer Bankruptcy Consultation. Other areas of law often involve some sort of loss, but that’s usually not the case with bankruptcy.

How Much Does It Cost To File Bankruptcy In Ky?

Talking to Louisville bankruptcy attorneys will help you figure out exactly how long your type of bankruptcy will stay on your credit report. We are a debt relief agency and have practiced bankruptcy law for over 20 years. Our services include helping individuals and couples file for bankruptcy relief under the Bankruptcy Code. Whether you have an overwhelming amount of credit card debt, your wages are being garnished, or your home is going into foreclosure, filing for bankruptcy can protect you.

If you cannot produce copies of canceled checks or receipts for payments, the home will simply go back into foreclosure. We understand how scary and frustrating it can be to face aggressive or persistent debt collectors on your own. Luckily, our attorneys are here to help protect consumers in Kentucky and Indiana from deceptive practices from their creditors. We will also outline and explain your options for dealing with debt collectors and getting your finances back on track. Debt consolidations involve rolling multiple types of debt, such as credit card debt, into one monthly payment.

Our team agrees that our firm must place a high priority on your satisfaction. We achieve this goal by giving each client one-of-a-kind service unmatched by any other firm. Our love for what we do creates a unity and bond that can’t be broken. It is possible for a person’s Chapter 13 payments to increase during their repayment period.

Keep in mind that only nonexempt assets may face liquidation in a Chapter 7 filing, regardless of the exemptions. Most people will be able to protect their essentials, such as their home, their car, and even tools of the trade. For those who are experiencing a temporary gap in income, perhaps due to a job loss, a divorce, an injury or an illness, it can be difficult to continue to make ends meet. By the time income is restored, late fees, higher interest rates and overdue payments may have snowballed to make it impossible to catch up.

Chapter 7, Chapter 11 And Chapter 13 Bankruptcy Options

What tends to differ the most is what each state lists as its bankruptcy exemptions. Also, some states allow you to choose between state and federal exemptions, while others do not. In the United States, bankruptcy is governed by federal law, commonly referred to as the “Bankruptcy Code” (“Code”).

Please check out Our Resources for valuable information concerning the bankruptcy process. This will give you information and a starting point regarding bankruptcy, debt consolidation, debt resolution, and debt settlement. Your Chapter 13 bankruptcy case is officially, completely over once the court issues the final decree. You will be nearing the end of your case when you complete your repayment plan, submit your final paperwork, and receive your discharge order.

At Hodge & Smither, we offer free consultations and can provide payment plans so that our clients can get much needed counsel and advocacy in the situations where they need it most. For those considering bankruptcy, it’s important to be aware of the local resources that can support you through this process. The Louisville Metro Office of Resilience and Community Services offers various programs to assist residents facing financial difficulties. Additionally, the Kentucky Court of Justice provides valuable information on bankruptcy filings and legal proceedings.

Once these are completed, all that remains is receiving the final decree from the court. The final stretch of your bankruptcy case will be handled largely by the bankruptcy trustee, as they must submit certain documents to the court. Usually, the closing process begins after you have completed all of your plan payments, which is around months after filing. If an issue arises that affects your ability to make payments, have your attorney work with the bankruptcy trustee to propose a modification of the plan to the bankruptcy court. All modifications are subject to approval by the court before they go into effect. You may also be able to convert Chapter 13 to Chapter 7 under certain circumstances.

Even though the dip in their credit score hurts at first, the effects won’t last forever. Even if you’re not sure that bankruptcy’s right for you, try to keep these ideas in mind as you deal with your debt problems. Following these do’s and don’ts will protect your future ability to take full advantage of your rights under bankruptcy law. If no creditor objects to the repayment plan, the confirmation hearing proceeds, and the plan is confirmed within 30 days of the first 341 meeting. If a creditor does object to the plan, this makes the case much more complicated. Speak with your attorney if one of your creditors objects to the proposed repayment plan.

At Schwartz Bankruptcy Law Center, our lawyers understand that filing for Chapter 7 bankruptcy isn’t for everyone. We realize that some people would like to maintain their integrity by paying back their debts. If you believe this type of bankruptcy may be right for you, simply contact a dedicated Louisville Chapter 13 bankruptcy lawyer from Schwartz Bankruptcy Law Center today. In a Chapter 13 bankruptcy, you repay your creditors in full or in part over the course of three to five years under a repayment plan to achieve debt relief. A Chapter 13 repayment plan helps people, families, and even businesses to restructure their debt.

As long as this stay is in effect, creditors cannot initiate or go forward with lawsuits or continue to demand payments. This stay also applies to house payments, which can save your home from foreclosure. Chapter 13 bankruptcy, also known as a wage earner’s plan, allows individuals with a regular income to create a plan to repay all or part of their owed debts.