Law Office of Allan E. Dunaway, PLC

May 2013 Archives

Do you need a fresh start?

Sometimes, it is difficult to see it coming. It happens gradually, in small increments. By the time you realize that it is a problem, it has become more than you can handle and you do not know what to do. Debt. Especially credit card debt and especially if you have more than one credit card.

Mortgages not well understood by homebuyers

Financial documents can be confusing. Mortgage loan documents can be more confusing than most, because most people only purchase a home once or twice in their lifetimes, and have few chances to gain experience with the process. The mortgage crises of the last decade showed that many borrowers failed to understand the implication of the documents they were signing. And that failure had monumental consequences when those borrowers began to default on the loans they could not afford. For many, it led to foreclosure and bankruptcy.

Has your student loan created an undue hardship?

In Louisville, and across Kentucky and neighboring states of Ohio and Indiana, we talk to many borrowers with student loans. Often they have found themselves having trouble with repayment, given the difficulty in finding jobs and, as important, finding jobs that pay enough so they can afford to live and repay the loans. 

Custody battle for TV star could result in her bankruptcy

Many Louisville residents who like the show "Gossip Girl" will know the actress Kelly Rutherford, who played a wealthy socialite on the show. However, Rutherford's life on TV does not mirror her actual life, as she has been engaged in a long custody battle for her kids after she and her husband were divorced. Her husband now lives in France with her kids.

Inherited IRA in bankruptcy not exempt

During a bankruptcy, retirement accounts are typically exempt property. This means a trustee cannot take them to pay debts owed to creditors. This because they are for use when the debtor retires, Congress decided to exempt those assets from creditors. A recent Chapter 7 case from the Court of Appeals for the Seventh Circuit, however, decided that when an IRA retirement account is inherited, it is no longer a retirement account, and is no longer exempt property under the Bankruptcy Code.

Contact the Firm

Get Sound Advice In A Free Consultation

For sound bankruptcy advice you can count on, from a skilled lawyer who truly cares about your future, contact the Louisville Law Office of Allan E. Dunaway, PLC. We have two convenient locations: Louisville, Kentucky, and Jeffersonville, Indiana. Our main office in Louisville is located off the beaten path so you won't have to deal with downtown traffic and can pull right up to our door and walk right in.

Call us at 502-785-1005, or send an email message. Our law firm welcomes the opportunity to serve you in any way we can.

If for some reason personal bankruptcy is not for you, if you do not qualify for the Chapter 7 approach via the "means test" and Chapter 13 reorganization is not the answer, Allan E. Dunaway works hard to inform you of other appropriate means of debt settlement that suits your unique needs.

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Kentucky Office

Indiana Office

714 Lyndon Lane
Suite 4
Louisville, KY 40222

Phone: 502-785-1005
Fax: 502-412-2258
Map & Directions

530 East Court Avenue
Jeffersonville, IN 47130

Phone: 502-785-1005
Fax: 502-412-2258
Map & Directions