Law Office of Allan E. Dunaway, PLC

March 2015 Archives

How the 2009 Credit CARD Act limits interest rate increases

Kentucky residents may be aware that the 2009 Credit CARD Act placed restrictions on credit card interest rate increases. Issuers are still allowed to increase rates in certain situations, but they must notify consumers in writing 45 days before the new rate goes into effect. The law also allows consumers to decline the new interest rate and pay off their outstanding balance.

Credit card debt climbs

Though defaults on credit card payments reached a six-year low last year, Kentucky and the rest of the United States added a record-breaking $57.1 billion in net credit card debt. These and other findings related to American consumer debt are based on the results of a recently released CardHub survey.

How does a debt management Plan work?

Kentucky residents who are feeling overwhelmed by debt may have heard of debt management plans, but they may not be certain how they work or what they are. These plans are often used in order to help an individual debtor pay off his or her debts, normally over a period lasting around five years.

Bankruptcy filing for debtors with tax debts

Kentucky individuals who are struggling with debt and considering filing for bankruptcy may not know that past due tax obligations are not always eligible for discharge. A Chapter 13 bankruptcy establishes an arrangement for the debtor to repay all obligations over a period of three to five years in accordance with an approved plan, but Chapter 7 allows the discharge of certain types of debt, including federal tax debt if it meets strict requirements.

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