Law Office of Allan E. Dunaway, PLC

November 2013 Archives

Is winning the 'Strike Debt' lottery realistic?

Readers of our Louisville Bankruptcy Law Blog have probably heard about a movement called “Occupy Wall Street” and the offshoot “Strike Debt.” They may have even heard about the millions in debt that the group has wiped out over its existence. Most recently, the group eliminated approximately $13.5 million in debt in a single sweep. How did they do this?

Court rules inheritance part of Chapter 13 bankruptcy estate

During a bankruptcy, a Chapter 13 plan provides a debtor with flexibility in repaying some of their debts. You can pay your secured debts, like a car loan or mortgage arrears, over an extended period and you can have a significant portion or, in some cases, all of your unsecured debts discharged. In addition, you can modify the Chapter 13 plan, should your income unexpectedly be reduced.

How about a loan--for 460 percent!

The old saying that it takes money to make money seems to have a corollary, especially within the payday loan industry. There, it takes debt to make more debt. The payday loan business claims it serves an underserved demographic, that of low-income consumers who may need a loan (if they were a large corporation, it might be termed a "bridge loan") to help them out until payday.

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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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Louisville, KY 40222

Phone: 502-785-1005
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Fax: 502-412-2258
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