Law Office of Allan E. Dunaway, PLC

September 2014 Archives

What is the process for a Chapter 13 bankruptcy?

Kentucky residents who are looking to file for bankruptcy will generally either select a Chapter 7 or Chapter 13 filing. While a Chapter 7 bankruptcy focuses on eliminating debts, this type of filing is usually unable to prevent foreclosures. Chapter 13 gives people a way of catching up on debts, including secured loans, with a three- to five-year repayment plan, and in some cases the debtor can save the home from foreclosure if regular mortgage payments continue to be made. This process also can protect cosigners from action by creditors.

When debt collection is considered harassment

Kentucky residents who owe consumer debt might be interested to learn what protections they have under the Fair Debt Collection Practices Act. The federal legislation, which is enforced by the Federal Trade Commission, sets forth a set of rules that debt collectors are obligated to follow while attempting to collect an unpaid debt or obtain information about someone who owes a debt.

Facing a debt lawsuit could be beneficial

Paying bills every month can be a routine for residents of Kentucky, but sometimes debt can become overwhelming. When someone is behind in their payments and receives a notification that a lawsuit is being filed against them by a debt collector, an unfortunately common reaction is to fail to show up in court. When someone who is being sued for debt avoids the courtroom, the result is usually a judgement against them.

Medical debt gets revamped by FICO

Debtors in Kentucky may benefit from recent changes made to how medical debts will effect consumers' credit scores in the future. During August 2014, Fair Isaac Corp., better known as FICO, announced its plans to mitigate the impact medical debt has been having on its credit score algorithm. The changes are expected to raise credit scores by 25 points for those consumers whose ratings have been adversely impacted by outstanding medical expenses.

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
Louisville Law Office Map

530 East Court Avenue
Jeffersonville, IN 47130

Phone: 502-785-1005
Fax: 502-412-2258
Jeffersonville Law Office Map