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February 2016 Archives

Rapper in bankruptcy takes pictures with loads of cash

The rapping legend 50 Cent recently posted pictures on the Internet of himself posing with loads of cash. The photos prompted the judge presiding over his bankruptcy proceedings to call him into court. The judge wanted the rapper to explain the photos, which depict him playing with numerous stacks of cash.

What are debtor education courses and credit counseling?

A lot of debtors who are preparing for Kentucky bankruptcy proceedings are not aware that they must fulfill their debtor education and credit counseling requirements in order to complete the bankruptcy process. Generally, credit counseling happens prior to the bankruptcy filing and debtor education happens after the filing.

Let's put a stop to creditor harassment

Not being able to pay your bills, put food on the table and finance your basic needs is by far the worst part of having debt problems. However, creditor harassment is another extremely difficult aspect of being in debt. In fact, many Kentucky residents get hounded by creditors calling them at home and even at work. In extreme cases, creditors will make house calls and come knocking on your door.

What are the requirements for Chapter 13 bankruptcy?

One of the primary advantages of Chapter 13 bankruptcy over Chapter 7 is that you don't have to liquidate any of your assets. With Chapter 13, you're given the opportunity to keep your property in exchange for committing to a repayment plan, which will last for three or five years depending what the court decides.

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