In Louisville, reliable transportation is crucial for Louisville Bankruptcy Lawyer daily commuting and maintaining employment. Our attorneys have successfully assisted clients in retaining their vehicles through both Chapter 7 and Chapter 13 filings. By leveraging local ‘fresh start’ programs offered by car dealers, we can help you secure a more dependable vehicle, ensuring you stay mobile and financially stable. 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. If you owe back taxes, there are a number of tools to resolve the problem including penalty abatement, Currently Not Collectible status, Offers in Compromise, and Installment Agreements.

Business Bankruptcy

In Chapter 7, there is a possibility that some of your property will be liquidated to repay your creditors. In 2020, the average Chapter 7 consumer attorney fee in Kentucky was $1,400 dollars for a single person and $1,600 for a couple. Staff salaries, rent, insurance, software, etc. are costs that reduce what he makes per case to about $600 if he works a full day on each case. If he charges 600 dollars you don’t get an experienced attorney working a day on your case. You normally get a paralegal or secretary who prepared it and a kid fresh out of law school who went with you to court.

We recommend speaking with an experienced Kentucky bankruptcy lawyer to determine which bankruptcy chapter is right for you. Contact O’Bryan Law Offices and schedule a free consultation with our consumer bankruptcy attorneys. Observing these bankruptcy do’s and don’ts will help set you up to make the most of your right to debt relief under the Bankruptcy Code. At O’Bryan Law Offices, our attorneys fully understand how the bankruptcy laws apply to your situation and will keep you away from any of these pitfalls.

You’ll need permission from the bankruptcy trustee overseeing your case, as any major financial transactions during Chapter 13 are subject to their review. In Chapter 13 repayment, debtors are required to report any changes in income. Debtors undergoing Chapter 13 bankruptcy must use their “best efforts” to make their plan work. Sometimes, it can be easier to visualize how to form your own plan payments after looking at examples of others’ plan payments.

With our office you can file a skeleton petition so you can get all the benefits immediately and prepare the majority of the petition the next day. Then, the garnishments stop immediately, the bank attachments end, and the harassment stops. With these cases, the law office prepares the majority of the petition the day after the case files. Collectors are not polite and will not work with you, but you are not under their control. 15,000+wills & estates planned by lawyers at O’Bryan and O’Bryan Law. We also counsel clients from all over Kentucky and Indiana on the following issues.

The duration of your Chapter 13 case will depend on a few factors, including your income and the amount of time you need to complete the repayment plan. With the help of your bankruptcy attorney, you will work with your creditors and bankruptcy trustee to determine the length of the repayment period. If you hit 90 days of delinquency, the credit card company might send your account to collections. Then, you will likely hear from debt collectors about your account. [newline]You may see a reduction in your credit limit and an increased interest rate on other credit cards. After that, the credit card issuer might sell your account to a debt collection agency, making debt management more difficult.

What Are Some Of The Situations Chapter 13 Is Best Suited For?

Five other locations in Ashland, Covington, Frankfort, London, and Pikeville also operate as divisional offices. There are many reasons why you may choose to file a Chapter 13 instead of a Chapter 7 bankruptcy. In Kentucky, you do not technically have a right to reinstate your loan unless it is a high-cost home loan. Lenders of high-cost loans must give at least 30 days’ notice of default to the borrower. Check your mortgage loan to determine whether or not you have a right to reinstate your loan. If not, there is still a chance that you can negotiate reinstatement with your lender.

Attorney Tracy Hirsch will help you determine if a Chapter 7 bankruptcy or Chapter 13 bankruptcy will best suit your specific situation. Unpaid medical bills, high credit card APRs, garnishments, and judgment liens can destroy your financial status and cause extreme emotional distress. The initial consultation for the preparation of a new estate plan is free. We’ll talk about your goals and brainstorm strategies for accomplishing them. We’ll give you an estimate of fees once we’ve come up with a plan and give you a chance to think it over.

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.

Additionally, low-income earners or those working for the federal minimum hourly wage might be able to claim exemptions for their total wages. High-income earners are much more likely to face wage garnishments of their weekly wages. If the creditor hasn’t heard from you in a long time, they might seek the court to issue a default judgment against you.

If you don’t think bankruptcy is the best answer for your situation, our attorneys can help you pursue other options. Two prominent options are reinstating the property and redeeming the property. Federal law prohibits beginning a foreclosure before the borrower is over 120 past due on their mortgage payments. This period of time gives borrowers time to pursue a loss mitigation option from their lender. Bankrutpcy court allows you the perfect place to sue creditors back in federal court. A debtor who is a victim of Fair debt collection practices act violations, fair credit reporting…

If you fail to give an answer, the court will likely award your lender with a default judgment. This is when having qualified foreclosure attorneys on your side will be invaluable. Zombie Debt Collectors will often buy debts which are past the statute of limitations or that have been discharged in bankruptcy and then attempt to collect the debt. Debt Management companies often file bankruptcy themselves or close after you have paid them leaving you owing the debt.

Another result of the ongoing pandemic is subchapter V of the SBRA, which is designed to help small businesses recover from the financial consequences of COVID-19. The SBRA is much quicker and cheaper than a Chapter 11 bankruptcy process because it allows owners to work with a bankruptcy trustee in order to create a solid debt repayment plan. When you’re facing foreclosure, it’s important to understand how the process works as a whole. You may have many questions, such as “When is it too late to stop foreclosure?

However, they may still try to collect the debt from you by garnishing your wages or seizing your bank account. If you are struggling with any of these financial hardships, don’t go another day without speaking to a professional bankruptcy attorney. The Law Office of Allan E. Dunaway will provide you with friendly and courteous counsel to make the bankruptcy process as easy on you and your family as possible.

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.