Any money that you make after you file Louisville Foreclosure Lawyer is yours to keep and spend as you like. This is because it isn’t considered part of the bankruptcy estate. You cannot, however, spend any money that is listed in your bankruptcy estate. One of the more important documents that bankruptcy trustees look at is the bank statements of the bankruptcy filer.

 

Banks that sue homeowners following a foreclosure are included in this category. They receive a judgment against the individual if they win in court. As a result of the ruling, they are now able to get a garnishment order. At O’Bryan Law Offices, we can help you achieve debt relief in Kentucky and Indiana, as well as handle garnished wages without notification. Once you establish an attorney-client relationship with us, we can offer a free evaluation of your case. This means we don’t accept a cent from you during your initial consultation.

 

How many times can you file bankruptcy if you’ve already done so? To begin with, there are no limitations on how many times a person can petition for bankruptcy relief. However, the number of times a person may get a bankruptcy discharge, or total debt relief, is limited. One common way that bankruptcy lawyers in Louisville get paid is through a flat fee.

 

Bankruptcy

 

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.

 

Lower interest rates mean more manageable monthly payments and an easier repayment process. Once you consolidate your debts, you won’t have to worry about multiple payment schedules anymore. Overwhelming debt can be a source of undue stress for many people, so some decide to discharge their debts by filing a Chapter 7 bankruptcy petition. While there are many dischargeable debts under Chapter 7, there are some debts that cannot be discharged in a Chapter 7 bankruptcy. For example, if you own a home, the federal homestead exemption is $31,575 for single filers, while Kentucky’s is just $5,000.

 

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This is true even if they filed for bankruptcy, because they can discharge their debt to the creditor but not their responsibilities to you under the divorce decree. What your unsecured creditors receive is determined by how much you can afford to pay. A Chapter 13 bankruptcy plan is a form of debt consolidation – – you will make one payment to the bankruptcy trustee, who will then pay your creditors.

 

Instead, we will be honest and work hard to help you pick the best option for your situation and see you through it. The experienced lawyers at O’Bryan Law Offices do that by helping you regain financial independence in bankruptcy. We can also assist you when your circumstances call for an uncontested divorce, estate planning and personal injury representation.

 

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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.

 

Most mortgage creditors won’t consider you for mortgages in the future if your credit report shows a foreclosure. Although you’ll receive a blow to your credit, you’ll rebuild good credit sooner because you will be debt free. Deciding over whether or not bankruptcy is the best option for you is not an easy one. That’s why consulting with an experienced bankruptcy attorney can help you make the right decision for your unique financial situation.

 

The vast majority of Chapter 7 debt relief cases proceed smoothly from filing to final discharge, which is our goal in every case. To learn more about our Chapter 7 bankruptcy practice, contact us at O’Bryan Law Offices in Louisville, Frankfort or New Albany. The bankruptcy court will send out notices of your Meeting of Creditors. Your meeting will take place between 30 and 45 days after you file your case.

 

Wills, trust plans, power of attorney, it’s never too early to get started protecting yourself and loved ones. 5thlargest family law firm in Louisville according to Louisville Business First. Deciding whether a Will or trust is the best way to protect your assets can be tricky.

 

However, bankruptcy is simply a legal tool that allows debtors to regain control of their finances. Filing Chapter 7 bankruptcy is a simple and straightforward way to eliminate most debts, especially unsecured debt. This includes credit card debt, bank loans, medical bills, pay-day loans, and old utility bills. Chapter 7 is designed to give consumers a fresh start while quickly halting creditor garnishments, lawsuits, and harassment.

 

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. Even though you can still keep your credit cards, it might be a good idea to stop using them until you can settle your debts. Credit card companies often shut off your cards if you file for bankruptcy. If you choose an alternative option, you can keep them for a rainy day. Even though we dedicate a large portion of our practice to helping consumers file Chapter 7 Bankruptcy and Chapter 13 Bankruptcy, we also understand that it’s not for everyone.

 

The exemptions for filers listed in the Bankruptcy Code apply to single filers only. If you file jointly with your spouse, you can double the listed amounts. The Kentucky bankruptcy laws govern your exempt property, but federal law, specifically the Bankruptcy Code, governs the bankruptcy petition and process. Specifically, the Kentucky Revised Statutes outline the details of what we cover in the following sections. Louisville Lawyer List is is a local directory of attorneys in Louisville.