The desire to pay bills and avoid potential embarrassment often make people in Kentucky delay a bankruptcy filing. Long-term research by the Consumer Bankruptcy Project shows that from 2013 to 2016, 66 percent of bankruptcy filers had suffered financial hardship for at least two years before seeking legal protection. Close to one-third of those surveyed had struggled for five or more years. Known as long strugglers, the numbers of these debtors have doubled since 2007.
Chapter 13 bankruptcy and buying a vehicle
Some people in Kentucky who are in the midst of a Chapter 13 bankruptcy might wonder whether they can obtain an auto loan. It is possible to do this, but it may take time because it is necessary to first get court approval.
