Law Office of Allan E. Dunaway, PLC

Posts tagged "Chapter 13 Bankruptcy"

Rights debtors have when talking to debt collectors

The Fair Debt Collection Practices Act provides debtors throughout Kentucky and the rest of the country with protections against certain debt collector activities. For instance, a debt collector does not have the right to harass a debtor or act in a deceiving manner. When a person receives a call from a debt collector, it is important to verify that the amount in question is actually owed.

Talking about the gender debt gap

Women in Kentucky and throughout the country tend to have more debt than men. This is partially because of the gender wage gap that sees a female worker earning as little as 72 cents for every dollar made by a male. For instance, a woman paying student loans has an average debt of $30,716 compared to a man's average of $24,232.

Why waiting to file for bankruptcy can be a mistake

Debtors in Kentucky and throughout the country may be doing themselves a disservice by waiting to file for bankruptcy. By waiting, they could deplete assets or otherwise negate some or all of the financial benefit gained by filing. In many cases, individuals who choose to file only do so when they are at the point when they face debt collection calls or creditor lawsuits. The time that people spend putting off asking for protection from creditors is called the sweatbox.

Supreme Court ruling may affect ability to appeal in a bankruptcy

Kentucky residents who are facing overwhelming debt may be interested in one legal limitation that consumers face when seeking a Chapter 13 bankruptcy. A decision from the nation's highest court has clarified when a person has the ability to appeal the bankruptcy court's rulings.

Debts that can't be discharged in Chapter 13 bankruptcy

People in Kentucky who file for Chapter 13 bankruptcy protection may be able to have many of their unsecured debts discharged upon the successful completion of the process. However, there are a few kinds of obligations that are not eligible for discharge under Chapter 13 bankruptcy. Other kinds of debts may not be impossible to discharge, but it could be more difficult under this form of consumer debt relief.

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.

Understanding the law regarding paying discharged bankruptcy debt

Kentucky residents with overwhelming consumer debt may be interested in repayment options, including those that come after debt is discharged in bankruptcy. Depending on the specifics of the debt, some borrowers may still wish to pay these debts when there is no legal need to do so.

How Chapter 13 bankruptcy affects a mortgage

Kentucky homeowners who are having financial difficulties may be wondering how filing for Chapter 13 bankruptcy affects their mortgage. When this specific type of bankruptcy is filed, the mortgage lender typically wants to prevent the foreclosure process as much as the homeowner.

The IRS and Chapter 13 bankruptcy

Debtors in Kentucky may be interested in learning more about Chapter 13 bankruptcy and how the process interacts with the IRS. This type of bankruptcy is reserved for debtors who are considered sole proprietors, self-employed or wage earners. Applicants who qualify for Chapter 13 bankruptcy have reliable income, meet the requirements established under bankruptcy codes and have filed all the appropriate tax return documents for the four years preceding the application.

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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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