We have world-class funders that include the U.S. government, former Google CEO Eric Schmidt, and leading foundations. If you make more, to qualify for Chapter 7 bankruptcy, you’ll have to pass the second part of the means tests. It considers your types of debt and Louisville Bankruptcy Lawyer whether or not you have enough disposable income to pay your debts.

 

Kentucky Payday Loan Laws Important Guidelines

 

How do you properly file exemptions to keep property you own, or compute the means test? 1000 other rules are what you need to know to prepare a good Chapter 13 bankruptcy. Chapter 13 Bankruptcy involves technical terms, accounting principles, and rules of law a non-bankruptcy law firm has trouble understanding.

 

Then, the garnishments stop immediately, the bank attachments end, and the harassment stops. With these cases, the law office prepares the majority of the petition the day after the case files. When you come to our office, we will sit down with you and listen to your concerns. There are many helpful items that you should bring to your consultation so that we can properly analyze your finances and give you advice that fits your needs. You and your family are unique and as such we do not use a one-size-fits-all approach. Every person is different, and every person deserves individually tailored advice.

 

New Bankruptcy Law May Increase Small Business Filings

 

Fortunately, credit counseling can help you find ways to improve your credit after a repossession, and there are ways for you to build your credit after filing bankruptcy. Otherwise, the court may throw out your case if you miss just one of the deadlines for filing the rest of the documents. If that happens, you’ll have to start from scratch and pay the fee again. The intent of having wages garnished is to pay off the entire debt. An amount of about 25% of your paycheck will be taken out each time and sent to the creditor until the debt is paid.

 

Attorney Tracy Hirsch will help you determine if a Chapter 7 bankruptcy or Chapter 13 bankruptcy will best suit your specific situation. Unpaid medical bills, high credit card APRs, garnishments, and judgment liens can destroy your financial status and cause extreme emotional distress. At Hirsch Law, we believe that educating prospective clients is the foundation for a successful bankruptcy filing. Click on the questions below to learn how bankruptcy can protect your home, car, wages, and more. Though a repo seems like nothing but bad news all around, there is a silver lining. There are a few ways you can get your car back from repossession.

 

From there, you are released from personal liability for your unsecured debts, and you may continue making payments on secured debts to ensure you can keep your property. Additionally, you should collect and store all of your bankruptcy paperwork in a safe place, in case your future lenders ask to see them. Also, while Chapter 7 bankruptcy can stay on a person’s credit report for up to 10 years, you can still have a life after bankruptcy. You can begin saving up and building your credit as soon as your debts are discharged.

 

Filing for bankruptcy creates an “automatic stay,” which will halt the foreclosure. The automatic stay prohibits the bank from foreclosing on your home. Therefore, foreclosure must be halted during the bankruptcy process.

 

During your free initial consultation, we will put together a detailed estimate of what your monthly plan payment would be. Our Louisville bankruptcy attorneys have 20+ years of combined experience helping clients get relief from debt, rebuild credit, and start fresh. It’s worth the time and money to have an attorney with experience help you plan.

 

These organizations are a wonderful option if you’re not comfortable with handling the bankruptcy process on your own. If you use Upsolve to file for bankruptcy, you’ll receive all your forms in a downloadable packet. Instead, once you’ve completed the forms, go ahead and print two copies of everything. The Kentucky bankruptcy court will keep the original as your official case documents. Now that you’ve collected your documents and completed the required credit counseling course, it is time to tackle your bankruptcy forms. All forms are available online for free, and you can access them as fillable PDFs.

 

The Filing fee for Chapter 13 is slightly less than the Chapter 7 filing fee. But there are mailing costs to serving the plan in Chapter 13, increasing filing costs to about the same as the filing fee for Chapter 7 ($338 in 2021). We bill clients the same filing fee for a seven and a 13 to cover the costs of mailing the Chapter 13 plan, which is not required in Chapter 7. Federal court cases are harder to file than cases in state court and require more work and higher standards in the work that is done.

 

Instead, we will be honest and work hard to help you pick the best option for your situation and see you through it. The experienced lawyers at O’Bryan Law Offices do that by helping you regain financial independence in bankruptcy. We can also assist you when your circumstances call for an uncontested divorce, estate planning and personal injury representation.