Filing for bankruptcy before divorce actually Louisville Bankruptcy Attorney 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.

As in other bankruptcy cases, when a farmer or fisherman files for Chapter 12 bankruptcy, an automatic stay is imposed. Without the need for approval from the bankruptcy court, creditors are prohibited from conducting certain collection activities. The automatic stay in a Chapter 12 case protects anybody who is also responsible for any of the Chapter 12 debtor’s consumer obligations, in addition to the debtor.

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.

Do I Need An Attorney For Probate?

Filing for Chapter 13 bankruptcy protection may allow a person to keep their home, car, or other valuables while paying off their debts. Reorganization bankruptcy filers generally make payments over three to five years, depending on their discretionary income. Any remaining debt balances after the payback term has ended may be dismissed.

Chapter 12 Bankruptcy Attorney Louisville

The test compares your personal income to the state’s average income. It evaluates whether you have the financial means to repay all or part of what you owe after comparing the two. You are eligible for this form of bankruptcy if they find you do not have the financial means. While bankruptcy can help Kentucky citizens and others reorganize or eliminate debt, there are restrictions to how many times they can apply. Those who abuse the bankruptcy system egregiously may be prohibited from using it again once their cases are dismissed in some instances. Individuals who are allowed to file for bankruptcy more than once may only receive a limited automatic stay of creditor activity or none at all.

Additionally, we may be able to recover some of the funds that may have been taken. If you’re looking to stop wage garnishments in their tracks or achieve debt relief, O’Bryan Law Offices is here for you. Many people envision bankruptcy to be the worst financial decision you could ever make. However, there are many situations in which it’s actually the best possible option. The laws surrounding bankruptcy exist specifically to help consumers overcome crippling debt.

An attorney can help you make the best decisions to protect your financial future without paying more than you should to achieve debt relief. If you have credit card debt, are struggling to handle a debt collector, or are in need of a credit counselor, we’re here for you. Those who are overwhelmed by their debt should avoid shady companies that don’t have their best interests at heart. If you want to get a debt consolidation loan with bad credit, these companies may try to take advantage of you.

In this case, you have $50,000 in equity on your home, but the Kentucky bankruptcy exemptions would only protect $5,000 of that equity. The Eastern district oversees 22 counties in Kentucky, and has its main court location in Lexington. Five other locations in Ashland, Covington, Frankfort, London, and Pikeville also operate as divisional offices. It’s important to know where the bankruptcy court that will handle your case is located. First, you’ll need to determine whether you are in the Eastern District or the Western District of Kentucky. If these are the stresses that you are facing, it might be time to make a fresh start through bankruptcy.

To give the client a low price, you can always cut corners and do less work. However, as you can see with some practices, it only makes more work for the client and the attorney and opens you up to having the court look over your petition. Therefore, cheap low-cost attorney fees in Chapter 7 Bankruptcy are not as affordable as you might think. Based in Louisville, Kentucky, Christopher Kurtz Law Office is a bankruptcy firm. If you are struggling financially, we can help you determine the next steps, whether that means filing for Chapter 7 or Chapter 13 Bankruptcy.

Sometimes attorneys will take less time preparing the petition, disobey the rules, delay doing work, and take short cuts. If you have been injured due to the negligence of another individual or entity, you are likely going through a difficult time. You are injured, possibly unable to return to work, watching your medical bills mount, and facing an insurance company that does not want to pay you what your claim is worth. Christopher Kurtz understands your situation and will evaluate your case, then help you understand your legal rights and options. Attorney Kurtz will answer all your questions, helping you decide whether pursuing legal action is in your best interests.

Most courts release the standard fee that the attorneys may charge for a Chapter 13 bankruptcy without the court reviewing it called a no-look fee. Unless more than the standard work is required, attorneys cannot charge more than this no-look fee. If the case is unusual, the attorney may document the work and file a motion for fees documenting the work done and the cost.