The United States Constitution (Article 1, Section 8, Clause 4) authorizes Congress to enact “uniform Laws on the subject of Bankruptcies throughout the United States”. If you file for Chapter 7, this will stop the foreclosure, but only for a certain period of time. You may be able to save Louisville Bankruptcy Lawyer your home for a few more months, which could give you the breathing room you need to prevent the sale altogether. We recommend speaking with a Chapter 7 lawyer for more information on how this chapter of the Bankruptcy Code can help you. Many borrowers are unaware that they have certain rights and protections under state and federal law. Most attorneys are well aware of these protections, and will inform homeowners of their legal rights.

 

Firm Committees

 

It’s no surprise that they want to know how long the process will take. In the following sections, we outline the full Chapter 13 timeline and walk you through the process of achieving lasting debt relief. During that time period, you will make payments to the bankruptcy trustee who will make payments to your creditors.

 

Chapter 11 Bankruptcy Lawyer Here To Help Your Business

 

In this chapter, debtors must pay back at least a portion of their debt over a three to five-year period. They can also keep more of their personal property and avoid foreclosure on their home. The Kentucky bankruptcy laws govern your exempt property, but federal law, specifically the Bankruptcy Code, governs the bankruptcy petition and process. Specifically, the Kentucky Revised Statutes outline the details of what we cover in the following sections. Each state, including Kentucky, has its own laws and regulations when it comes to bankruptcy filing. However, the overall processes aren’t very different from state to state.

 

⎆ Saving In Advance For Attorney Fees

 

The other option (which really isn’t an option) is turning to a debt settlement service. These services often claim that all you need to do is pay them and they will negotiate with your lenders and wipe away your debt for a fraction of the cost of filing for bankruptcy. Unfortunately, these services basically fall just short of being considered scams. They have no legal power, they aren’t well-versed in the law, and likely you’ll end up in a far worse position than you were to start out. To learn more about why debt settlement services are, a bad idea, click here.

 

If you have questions send us a message with your email address so we can respond. If you’re ready to set up a free consultation with Tracy, you can call, text, or email her directly. Tracy believes that everyone should be treated with respect, compassion, and understanding. Her warm, relatable approach combined with her extensive knowledge and experience, lets you know that you’re in good hands.

 

For more specific information related to the benefits of bankruptcy, we recommend reading our related article. You’ll also need to disclose any lawsuits that have been filed against you and any property that has been repossessed. At our firm, we assist clients with filing for bankruptcy and with other consumer protection matters. By sitting down to a free initial consultation with a skilled and knowledgeable bankruptcy lawyer, you can start taking control of your finances. Call our office or complete our online contact form to get started. The attorneys at Hodge & Smither understand that times can get tough for Kentucky households.

 

Not only do state and federal laws protect consumers from shady lending practices, but they also prevent debt collectors from acting in certain ways. Debt collectors may not continue to contact you if they know that you are represented by a creditor harassment attorney. If a debt collector calls you after you’ve retained a lawyer, give them the name and contact information of your attorney and ask them to stop calling you.

 

We exist to help you find the highest rated Louisville lawyers for your needs. Prior to joining the firm, Brian served as a federal judicial law clerk for the Honorable Thomas H. Fulton of the U.S. Medical Bankruptcy is not a type or “Chapter” of bankruptcy according the US Bankruptcy Code, however it is one of the major types of debt that causes people to seek bankruptcy protections. According to recent studies, over 50% of Americans have had medical debt sent to collections at one point or another. With rising medical costs and increasing out-of-pocket medical expenses, this number will likely continue for the foreseeable future.