Law Office of Allan E. Dunaway, PLC

November 2014 Archives

Credit card debt and the Kentucky statute of limitations

Kentucky law protects citizens who owe debt to credit card companies from being sued by collections agencies after a period of years has passed. This is meant to protect residents from being forced to defend themselves in a court of law after a long time has passed and their ability to produce exonerating evidence is impaired.

Understanding the 1099-C cancellation of debt form

Kentucky residents who have unsecured debt like medical bills or maxed out credit cards may want to learn about the 1099-C form. The 1099-C 'cancellation of debt" form is an IRS document that is sent to individuals after some types of debts are either canceled or forgiven. Although former debtors may think they owe nothing once a debt is resolved, they might owe something to the IRS during tax season.

What is the role of the Chapter 7 trustee?

When a Kentucky resident files a petition for Chapter 7 bankruptcy, the U.S. trustee appoints the case to an impartial trustee who liquidates the nonexempt assets of the debtor. If all of the assets are exempt or subject to valid and approved security interests, they are not distributed to unsecured creditors, and the trustee usually submits a no asset report to the court.

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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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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