Please check out Our Resources for Louisville Bankruptcy Lawyer 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.
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.
First, you’ll need to take a credit counseling course from an approved provider. Bankruptcy will stay on your credit report for seven to 10 years, and it will likely cause your credit score to drop significantly. If you’re not planning on applying for any new credit during that time, it may not be a big deal.
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These are most common when the creditor’s claim is supported by an interest in collateral. We can negotiate with the creditor to protect your interests in these situations. In Kentucky, you can use certain wage garnishment exemptions to your advantage. They keep your creditors from taking more than a certain acceptable amount from your wages.
5thlargest family law firm in Louisville according to Louisville Business First. 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. 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.
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Fortunately, credit counseling can help you find ways to improve your credit after a repossession, and there are ways for you to build your credit after filing bankruptcy. People often file for Chapter 13 if they have secured debts they don’t want to lose, or if they don’t qualify for Chapter 7. A skilled bankruptcy attorney can help you determine which of these two types of bankruptcy will provide you with the best outcome based on your circumstances.
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. Some examples of these fees include late fees and inspection fees.
They can, however, garnish any disposable income that is greater than 30 times the federal minimum wage. Between this amount and 25% of someone’s income, they must choose to garnish the smaller amount. Unsecured debts, however, don’t have any collateral attached to them. This means that if you don’t pay, there’s nothing that’s taken away from you. However, your credit card company extends a line of credit for you. If you can’t pay back what you owe, they can’t take your property.
You’ll start attending these meetings about 30 to 45 days after you file your petition to give your creditors an opportunity to object to your repayment plan. You’ll need to provide a detailed accounting of your income, debts, assets, and expenses. You’ll also need to list any creditors you want to include in your repayment plan. First and foremost, you should only file for Chapter 7 bankruptcy if you’re truly in a financial bind and cannot afford to pay your debts.
While both chapters have their own specific advantages and disadvantages, they tend to work better when targeting a specific problem. Contact our law firm today to schedule a meeting or telephone conference in Owensboro, Lexington or Louisville. We shake the box to find the most effective method possible to solve your legal problem. Our attorneys do not hesitate to call on unconventional witnesses and find unique debt solutions to get the results you deserve. Stop harassing calls, stop wage garnishments and stop foreclosure. Wills, trust plans, power of attorney, it’s never too early to get started protecting yourself and loved ones.
Weekly garnishments may not exceed the lesser of the following limits. If you are struggling with debt, tax problems or you have been injured in an accident, we can help. Please use this form to ask us a question or request a free consultation. Designed to provide financial assistance to individuals who are unable to work due to a qualifying disability. Our commitment is to change the common process in legal practice to one professional with dedication and heart. Bankruptcy attorneys Brian Pollock, Chrisandrea Turner and Elizabeth Thompson discuss Kentucky bankruptcy rules in this Practical Law Practice Note.
State foreclosure laws are often highly complex, and these cases require special knowledge and experience to handle properly. Owning a home is something to be proud of, especially if this is your very first home. While being a homeowner is exciting, rewarding, and a central part of your life, it is also no secret that owning a home comes with a unique set of challenges. Between physically and financially maintaining a home, at times, life can feel overwhelming.
The automatic stay legally prevents creditors, including mortgage lenders, from continuing foreclosure proceedings temporarily. We understand that filing for bankruptcy has a certain negative association for most people. They imagine that their lives will fall apart if they file, or that they’ll automatically lose their home and their other property. However, bankruptcy is simply a legal tool that allows debtors to regain control of their finances. It also gives you the protection of the automatic stay, which is the only legal guarantee that your creditors will stop harassing you and that you can stop foreclosure proceedings. The answer to this question mostly depends on the chapter of bankruptcy that you file.
Ted has extensive experience and expertise in Uniform Commercial Code matters as well written counsel opinions for loan transactions. Ted practices in the Indianapolis, Indiana and Louisville, Kentucky offices and participates in both the firm’s bankruptcy and restructuring and commercial transactions practice groups. He was honored to be named the Top Business Bankruptcy Lawyer in Louisville in the 2014 edition of The Best Lawyers in America® for his outstanding reputation and distinguished work. He is certified as a Business Bankruptcy Specialist by the American Board of Certification and serves on the Board of Directors of that organization. Ted is also the former practice group leader for the firm’s bankruptcy and restructuring group.