You are currently in the process of filing for bankruptcy in Louisville, and with all the paperwork and people involved, your head is spinning. Worry, stress and nerves have taken their toll. You filed the petition, all the schedules and the other documents the court...
Can expensive items be considered exempt?
While preparing for Chapter 7 bankruptcy, you should bear in mind that some of your possessions may be exempted from liquidation. Both federal and Kentucky law provide for some possessions to be exempted from Chapter 7 liquidation, meaning a bankruptcy trustee cannot...
How does bankruptcy handle medical debt?
Medical debt is a leading cause of bankruptcy filings in Kentucky. Bankruptcy provides a solution to dealing with burdensome medical debt even if it is a worst-case scenario. Rising healthcare costs leave Americans responsible for more debt when sick or injured. ...
What is the difference between Chapters 13 and 7 bankruptcy?
When debt becomes overwhelming and you are not sure where to turn, filing for bankruptcy in Kentucky is a valuable option for those who want a fresh financial start. Common reasons that people file for bankruptcy include a sudden job loss, unexpected medical costs or...
How do courts determine presumptive abuse?
Courts are not always quick to grant Chapter 7 bankruptcy. One of the reasons is that bankruptcy courts are concerned about people abusing the Chapter 7 process by using liquidation to avoid paying off debts. If a Chapter 7 filer in Kentucky possesses income that is...
Applying for too many cards can be a problem
Credit card companies do all they can to entice new customers in Kentucky and across the country to sign up for their cards, and part of their sales pitches often involve offering cards with reward features, such as cash bonuses. But applying for too many cards in...