Henderson Personal Bankruptcy Lawyers

Filing Chapter 7 Bankruptcy In Kentucky

If you feel overwhelmed by a heavy debt burden, the U.S. Bankruptcy Code offers options for getting a fresh start.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

Chapter 7

Chapter 7 bankruptcy is what most people think of when they consider filing. Under Chapter 7, you have the opportunity to petition the U.S. Bankruptcy Court to discharge certain types of debt. Eliminating your debts through Chapter 7 is not automatic. Your circumstances must be analyzed to the framework of the bankruptcy means test, which involves a consideration of the number of people in your household, income, and expenses. It is important to have an experienced bankruptcy lawyer handling your petition.

If you qualify for Chapter 7, some types of debt cannot be discharged. They typically include student loans, alimony or child support, certain types of tax debt and government-backed loans. In addition, bankruptcy is a legal process and your creditors will have the right to challenge your petition. The good news is that in most cases, debts such as credit cards, medical bills and other types of consumer bank debt can be eliminated.

Keep Your House And Car

Depending upon your financial circumstances, you may be able to exempt the value of your home and family car in the Chapter 7 filing. To keep your house and car, you will be required to "reaffirm" your intent to pay those particular debts if there are liens or mortgages against them.

Chapter 13

Chapter 7 isn't right for everyone, and not everyone qualifies. Chapter 13 is an excellent option to help people restructure their monthly debt payment and save thousands of dollars in principal, interest, penalties, and fees. Through Chapter 13, you can include all of your debt and restructure your payment into an affordable three- to five-year repayment plan supervised by a bankruptcy court trustee. Your attorney will negotiate the amount of debt you will repay, as well as the amount of your monthly plan payment. At the successful conclusion of the plan, your remaining dischargeable debt will be eliminated. Through Chapter 13, you may be able to keep your house even if you are behind on payments or perhaps even in foreclosure. Also, you may be able to strip off any second mortgage or home equity loan you have taken out against the value of the property.

Eliminate Bill Collectors' Calls And Legal Actions Immediately

When you file Chapter 7 or Chapter 13 bankruptcy, an immediate stay (stop) is put on all legal actions your creditors may have in process against you. This includes home foreclosure, car repossession, liens, levies and wage garnishments. In addition, creditors and collection companies are required to work directly through your legal counsel. Imagine how great it will be to tell them that you have a lawyer!

Get The Fresh Start You Need

Why wait? If you live in western Kentucky or southern Indiana, call attorney Bobby Norris at Trimble, Lindsay & Shea in Henderson. We offer a free initial consultation to discuss your circumstances and explain the bankruptcy process. We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code. Start today.

Call toll free at 270-854-9966 or use the convenient email contact form to arrange a free consultation today.