Law Office of Allan E. Dunaway, PLC

April 2014 Archives

Debt management strategies

Some Kentucky residents may be interested in the different ways that a consumer might try to manage large debts. Debt settlement and bankruptcy may have different effects on a debtor's credit history, and the strategies may be more or less effective depending on the circumstances of each case. Bankruptcy generally causes the most damage to the debtor's credit report, but the debt settlement process can also be damaging.

Kentucky patients among those struggling with medical bills

Kentucky residents with outstanding medical and health care bills might be able to take action in reducing the stress that comes with unmanageable debt. Even the insured can have difficulty paying their out-of-pocket expenses after the insurance companies have paid what they deem to be their share.

Using credit cards after bankruptcy

Many Kentucky residents wonder if they can continue to use a credit card after they file for bankruptcy. In the case of a Chapter 7 bankruptcy, there are no restrictions so it is entirely possible to use a new card immediately upon receipt. In the case of a Chapter 13 bankruptcy, any new credit must be approved by the trustee overseeing the bankruptcy case. It may be possible to get new credit after that approval.

When debt is larger than income

Kentucky residents who are burdened with overwhelming financial obligations may wonder how much debt is too much. One benchmark that is often cited is having more in debt than one makes in annual salary. Some advisers say that level of debt signals a problem. Others believe that it depends on the types of obligations. While that amount of student loans could be acceptable, the same level of credit card debt is likely not.

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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714 Lyndon Lane
Suite 4
Louisville, KY 40222

Phone: 502-785-1005
Fax: 502-412-2258
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Jeffersonville, IN 47130

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Fax: 502-412-2258
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