At the end of the payment plan, any remaining unsecured debts will be eliminated and you will be up to date on your secured obligations. Contact us today for a free Louisville Bankruptcy Lawyer consultation about your fresh start. Our friendly attorneys, Leeann and Ally, are ready to help you.
The trustee and creditors may interrogate you about your application and financial circumstances during the meeting. This information will be used to create a repayment schedule for you. Filing for bankruptcy may be an option for those wanting to restructure their obligations.
Attempting to collect from your former spouse, on the other hand, generally entails paying more money to pursue them in court. As a result, filing for bankruptcy and wiping away both parties’ total debts before a divorce may be in both spouses’ best interests. The property division process in a divorce will be simplified if you jointly wipe out your debts through bankruptcy. However, before you file a combined bankruptcy, be sure your state provides adequate exemptions to preserve all of the property you and your spouse hold.
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There are instances where a creditor may attempt to repossess your vehicle immediately following your first missed payment. In some cases, this may be how they make their living – by repossessing their vehicle at the first chance they get and then selling it off immediately, over and over again. It is an unfortunate scenario, but this is legal and it does happen.
During your free initial consultation, we will get to know the details of your unique situation and go over the pros and cons of each type of bankruptcy filing for you. Our Louisville bankruptcy lawyers help individuals file for Chapter 7 or Chapter 13 bankruptcies. The two general differences between the types of filings are what happens to a filer’s assets and their debts. When clients choose us for their needs, our Louisville bankruptcy attorneys offer the straightforward legal guidance they need. We will not get your hopes up for some unrealistic ending to your situation.
This is why many potential filers seek bankruptcy to also seek multiple kinds of relief from their debts. In Louisville, reliable transportation is crucial for 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. With the help of our knowledgeable and experienced lawyers, you can take the necessary steps to get back on your feet again.
The number of times you can file bankruptcy is determined by the length of time since your last bankruptcy and the sort of bankruptcy you filed. At O’Bryan Law Offices, we’ll set you up with a Louisville bankruptcy attorney who can help you determine the best course of action for your situation. In a Chapter 7 bankruptcy, attorney fees are supposed to be paid upfront, so the attorney is not in the unethical position of being both attorney and a creditor. Lawyers shouldn’t be worried about how he needs to work around the court rules to get paid fairly. After filing the case, the attorney becomes a creditor if he is owed pre-petition fees, which becomes an ethical problem. Bankruptcy mills churn out a large number of cases, hand you off to a paralegal, and you have little or no contact with an attorney.
Can You Spend Money After Your 341 Meeting?
It enables individuals with regular income to develop a plan to repay all or part of their debts. Under this chapter, debtors propose a repayment plan to make installments to creditors over three to five years. Money paid into the lawyers trust fund pays the filing fees and makes the first payments into the plan, showing you actually have the intention of paying. Respected local attorneys connect better with judges than you will. One of the biggest benefits of bankruptcy is the ability to have your debts discharged. Unfortunately, there are some disadvantages to filing for bankruptcy.
Louisville, being the largest city in Kentucky, has its own set of financial stressors, from fluctuating employment rates to the rising cost of living. “You won’t find a more conscientious, competent, or nicer attorney than Tracy Hirsch. If you find yourself in a situation where you have no choice and may lose your home, certainly call Tracy. If any of the issues below apply to you, click on the box to find out how bankruptcy can help. Find out which types of bankruptcies can help you keep your property and your paycheck.
For some overwhelmed Kentucky consumers, it makes sense to file for Chapter 7 bankruptcy protection. This option provides a person with the opportunity to deal with certain types of debt once and for all. There is no one-size-fits-all solution for dealing with unsecured debt, and it is in your interests to first explore all of the options available to you. A debtor may object to the wage garnishment or the amount withheld. In this case, the debtor must file a Claim of Exemption with the court that issued the judgment.
Louisville Bankruptcy Lawyers
Then, find someone who knows what they are doing if you have foreclosure, student loan, or tax debt. If a stay is not automatically granted, a person may request one from a judge. It may also be possible to request an extension of a stay beyond the 30-day period following the filing of a case. A court will examine how many cases a person has filed in the previous year or several years when assessing their request. When deciding whether or not to grant or prolong a stay, he or she will look at the grounds why previous applications were dismissed. With the spike in the inflation rate, a question that often comes into the filer’s mind is whether the cost of bankruptcy is also affected by it or not.
The best way to avoid dealing with getting a repossessed car back is to ensure it doesn’t get repossessed at all. This may seem like a glaringly obvious statement, but many people aren’t familiar with the ways in which they can avoid repossession. Some simple measures you can take include making payments on time, limiting how many credit accounts you open, and paying down credit card debt in regular intervals. Our attorneys at O’Bryan Law Offices can help you formulate a plan to do this.
Very few jobs with a lawyer salary exist for consumer attorneys. Chapter 13 no-look fees are different for each judicial district. However, they are typically between $3,750 and $4,100 in Indiana and Kentucky. The good thing about Chapter 13 bankruptcy is that you often don’t have to pay the attorney fees upfront.
If the court grants the motion in part, the debtor will often have to pay the court costs and attorney fees for the bank’s attorney filing this motion. Making mortgage or plan payments late may cost a client over $1000 in attorney fees and court costs. Here again is the February 3rd, 2015, motion hour hearing where a judge spent nearly an hour sanctioning a debtor and his attorney in front of other attorneys. In the end, she sends cases to the US Trustee to investigate both the attorney and the debtors. Several of his cases were subject to being dismissed due to allowing clients to make payments on filing fees or paying attorney fees after he filed the case. You don’t have to use a cheap attorney who may not be qualified because money is tight.
Most people will be able to protect their essentials, such as their home, their car, and even tools of the trade. To determine which chapter you qualify for, you’ll have to take a Kentucky bankruptcy means test. The means test will calculate your average monthly income and then determine whether you make too much money to file Chapter 7. The income limit for filing Chapter 7 also takes into consideration the number of people in your household. Each state, including Kentucky, has its own laws and regulations when it comes to bankruptcy filing. However, the overall processes aren’t very different from state to state.
