Failing to show that they have completed this course could risk a dismissal of the bankruptcy case. The first 341 creditors meeting will Kentucky Bankruptcy Lawyer occur around days after filing. This meeting gives your creditors the opportunity to ask you questions about your finances and the bankruptcy documents you submitted. After the court has assigned a bankruptcy trustee to your case, you must send all of your documents to the trustee for them to review. They will likely request additional documents, which you also must provide. When requesting these documents, the trustee will likely send a letter either to you or your attorney.

 

Meet Our Attorney

 

We’re funded by Harvard University and will never ask you for a credit card or payment. Before declaring bankruptcy, it’s important to review all your options for debt relief. In other words, it’s important to compare other chapters of bankruptcy. As we mentioned previously, Kentucky state law does not govern the process of filing bankruptcy in Kentucky. Rather, federal bankruptcy law determines how the process proceeds. However, Kentucky law does come into play with your bankruptcy exemptions.

 

Even if you are behind on federal student loans, you can have your disposable earnings garnished. 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.

 

However, it’s important to understand how bankruptcy attorneys get paid before hiring one to represent you. Please include all relevant details from your case including where, when, and who it involves. Case details that can effectively describe the legal situation while also staying concise generally receive the best responses from lawyers.

 

Benefits Of Chapter 11 And Chapter 13 Bankruptcy

 

A foreclosure lawyer will evaluate your case, determine the right defense strategy, and explain your options to you so that you can make an informed decision. If possible, they can help you avoid foreclosure by the bank or the mortgage company. Are you sick and tired of being harassed by collection agents and being threatened with everything from a wage garnishment to a lien on your home? Are you afraid to look at your own phone or dread making a trip out to the mailbox?

 

Under the federal homestead exemption, however, one filer can exempt $27,900 of the equity in their home. However, if you file jointly with your spouse, this figure doubles to $55,800. There are other types of exemptions when you file bankruptcy in Kentucky that don’t really fit in the above categories.

 

However, it is actually more straightforward than many filers realize. In the following sections, we outline the major steps that Chapter 13 filers must complete before receiving their Chapter 13 discharge. A deficiency balance is the amount of money that you still owe on your mortgage after your home is sold at a foreclosure sale. In some states, lenders can sue you for this amount, which can be a significant financial burden. The Fair Debt Collection Practices Act specifically prohibits debt collectors from doing any of the following.

 

Chapter 7 bankruptcy, also known as liquidation bankruptcy, is the most common form of consumer (non-business) debtor bankruptcy. Chapter 7 will halt collections activity including lawsuits, garnishments and threatening phone calls. It will also help you to eliminate most, if not all, of your debt and give you a great chance of keeping your assets. Additionally, a Chapter 7 Bankruptcy may be resolved in a matter of months. While there are many benefits to filing a Chapter 7 Bankruptcy in Kentucky, there are certain considerations that may lead you to choosing another form of bankruptcy.

 

We’ve helped hundreds of individuals and families, and we can help you. Don’t hire just any attorney to represent you at such a pivotal moment in your life; hire a competent Jefferson County bankruptcy lawyer from Schwartz Bankruptcy Law. Contact a qualified credit counselor or credit counseling agency about your options. We will help you develop a debt management plan that works best for your specific situation.