It would be nice if life happened in easily digestible pieces. It seems, especially with respect to bad news, things like to happen all together. Often a health crisis will precipitate a loss of work or a job, which can lead to falling behind on your bills, foreclosure notices you’re your lender and it eventually leaves you with the prospect of a bankruptcy.
Dr. Frankenstein's latest monster? Medical credit cards
The cost of healthcare is a problem that doesn't go away. As the fight over the Affordable Healthcare Act demonstrates this is a matter that can take the nation to the brink of economic disaster. For many residents in Louisville, attempting to pay for some healthcare services can take them over that brink, and lead them to bankruptcy.
Bankruptcy and new debt
There are many challenging aspects to a Chapter 13 bankruptcy in Kentucky. You have to develop, with your bankruptcy attorney, a viable Chapter 13 plan. The plan needs to be one that you can afford and pays all of your secured creditors and still leaves you enough money to buy gas for your car, and groceries for your table.
Handling student loans in a bankruptcy
When you file a Chapter 13 bankruptcy, you create a Chapter 13 plan, which governs the repayment of most of your debts. However, a Chapter 13 plan has a few quirks, which may affect your student loan repayment. This is why it is important to speak with a bankruptcy attorney before you file, so you can determine the most appropriate option.
Family court can lead to bankruptcy court
People can be so judgmental. Take bankruptcy, for instance. Many people suspect that those who file for bankruptcy are profligate in their spending habits and are living too lavish a lifestyle. That may be true of some people, especially with the presence of credit cards and easy credit. Companies may push their products on people, constantly underselling the risk of taking on too much debt.
