Law Office of Allan E. Dunaway, PLC

Do not wait too long to file bankruptcy

The leading news story this week related to bankruptcy does not come from Kentucky, but Detroit, which declared bankruptcy last week. This bankruptcy filing was the largest municipal bankruptcy ever, surpassing that of Jefferson County, Alabama. The federal government has not been asked to help Detroit, nor has the city requested help. They claim this is a matter that must be worked out between the city and the state of Michigan.

The similarity for many people is that they want to avoid bankruptcy and hold out filing a Chapter 7 or a Chapter 13, often it seems, hoping for a miracle. During that time, your credit further deteriorates and your nerves fray, as harassing phone calls and never-ending mail arrives from creditors demanding payment.

Job loss, illness or an accident that leaves you with mounting medical bills or even a divorce can often cascade and cause your finances to spiral out of control. When the debts become insurmountable, it is time to turn to help from a bankruptcy attorney. An experienced bankruptcy attorney and his staff can help you determined what type of bankruptcy can provide the most effective relief from your debts.

If you have no assets, a Chapter 7 may allow you to escape the crush of your debts, and if you have a car or home, filing a Chapter 13 could be the way to save your car and home.

These decisions complex and before you decide, speak with a bankruptcy attorney who can review your situation and help pick the bankruptcy filing that is right for you.

Source:, "Why Obama won't bail out Detroit," Chris Isidore, July 19, 2013

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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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