The bottom line is that we understand just how important your business is to you, which is why we are here to do everything in our power to Kentucky Bankruptcy Lawyer get the results you need. Contact Schwartz Bankruptcy Law Center today to schedule your initial consultation with our seasoned bankruptcy law firm. Starting a business can be tough, and keeping it afloat can be even more difficult. In our experience, Chapter 13 business bankruptcy can benefit the owners and principals of small businesses, partnerships and LLCs.

 

You won’t get an automated email response or an answering service when you call. The email and phone number that you see on our website give you direct access to Tracy herself. Our Bankruptcy Attorney, Tracy L. Hirsch, has 23 years of experience, and has filed over 2,000 cases. Her attention to detail and extensive knowledge of local bankruptcy rules, means that things are done correctly the first time. This experience has had direct impact in the way that Clark approaches estate planning. There are a number of reasons why someone might choose Chapter 13 for business bankruptcy over Chapter 7.

 

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.

 

Everyone was so helpful, super accommodating and I always felt I was in good hands. [newline]The medical expenses can be overwhelming, time missed on the job can put a significant strain on family finances, and there may be many more questions, including questions about the future. An injury can affect a person’s ability to work and be a difficult adjustment for the entire family. You must send these documents early enough so that the trustee receives them no later than 7 days before the 341 meeting. Your trustee may have an earlier deadline, so ensure that you know how much time you have to submit your documents.

 

Getting A Speeding Ticket In Kentucky

 

Next, you’ll need to gather all of your financial documents, including your tax returns, pay stubs, bank statements, and bills. You’ll use these documents to complete your bankruptcy petition and schedules. As mentioned above, one of the biggest drawbacks of Chapter 7 bankruptcy is that you may have to give up some of your assets. If you’re attached to your possessions and don’t want to part with them, bankruptcy may not be your best option.

 

Medical bills, personal loans, and the majority of credit card debt are examples of unsecured, non-priority debt that can be discharged in bankruptcy. Your non-exempt property will be sold by the Chapter 7 bankruptcy trustee, and the money will be distributed to your creditors. When you’re just scraping by financially, it might seem hard to make a dent in your credit card debt. [newline]Look for strategies to create extra money that you can use to pay off debt if you’re currently on a tight budget or would prefer to earn more than spend less. In certain situations, filing for Chapter 7 will not be enough to wipe away your credit card debt. The discharge of your credit card debt may be challenged by your creditor at any moment.

 

Keep in mind that a charge-off is not another term for debt forgiveness. You must still plan to pay this debt to achieve credit card debt relief. The older your unpaid debts are, the more likely you are to face debt collection lawsuits. State laws place restrictions on how long debt collection agencies have to sue you. In Kentucky, collection agencies can sue up to five years after the last action on your account.

 

Contact O’bryan Law Offices For Foreclosure Defense In Kentucky

 

The best time to hire a foreclosure attorney is before the foreclosure process officially begins. This way, you can explore all of your options ahead of time, which could allow you to avoid the process completely. Working with an attorney may even give you the leverage you need to strike a deal with your lender. We generally recommend speaking with a lawyer as soon as possible after you receive the breach letter.

 

For individuals and families struggling with debt, the thought of finding relief from the piles of bills and creditor calls can seem like an unattainable dream. Stop creditor calls and annoying past-due notices by speaking with our bankruptcy attorney. Do you need a short sale on your home so that it doesn’t go into foreclosure? Whether it’s a reputable car loan specialist or an experienced realtor, Tracy has connections to create a collaborative team. If you need expert advice from an experienced Kentucky bankruptcy attorney, you can get it quickly.

 

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.

 

Louisville Consumer Protection And Bankruptcy Firm

 

Our legal team is here to represent you and help you move on to a brighter future. Though it is not usually used by individuals, Chapter 11 bankruptcy protection is an option for individuals as well as businesses. Chapter 11 allows qualified individuals to reorganize and repay their debts over time.

 

In a Chapter 13 case, you file a Plan that provides the payment terms for your creditors. Similar to Chapter 7, there are many considerations you will need to understand before you file. If you feel like you’re drowning in debt, you are not out of options. There are options available to you, including filing for Chapter 13 bankruptcy. For dependable advice about business bankruptcy options for small business owners, contact one of our knowledgeable lawyers at O’Bryan Law Offices for a free consultation. Many people envision bankruptcy to be the worst financial decision you could ever make.