In order to begin the process, you must first determine whether you need to file Chapter 7 bankruptcy or Chapter 13 bankruptcy. Working with an attorney will also help you immensely if you come across a question on any of the forms that you’re not sure how to answer. Our bankruptcy professionals have all the experience you need to make filing for bankruptcy go as smoothly as possible. You’ll likely need to fill out and submit at least 20 different forms throughout the process. Defaulting on mortgage payments means that the foreclosure will be judicial. This simply means that the mortgage company or lender has filed a lawsuit against you and asked the court to allow a foreclosure sale.

With the help of a bankruptcy attorney, debtors will Louisville Foreclosure Attorney propose a plan to make payment installations to creditors over a period of 3-5 years. Because the work is done after the case files, the law office can collect after the case files. [newline]The debt for the work does not discharge in the bankruptcy because it’s done after filing. These law firms advertise this as a zero or no money down bankruptcy. Unfortunately, the cost is higher but you can have a low monthly payment you can afford.

Meet One Of Louisville’s Most Trusted Bankruptcy Attorneys

Our firm has over four decades of combined experience representing business owners in a wide array of financial circumstances, and we are here to put that experience to work for you as well. If you need a Jefferson County, Kentucky bankruptcy lawyer you can depend on, you’re in the right place. Individuals and sole proprietors looking to reorganize their personal or small business debts may often choose to file bankruptcy under Chapter 13. It is possible to file for bankruptcy on your own, but due to the sheer amount of laws, exceptions, and legal jargon, it is best to hire an experienced bankruptcy attorney. O’Bryan and O’Bryan Law Offices provides specialized and individualized services in bankruptcy counsel.

Personal Approach

Five other locations in Ashland, Covington, Frankfort, London, and Pikeville also operate as divisional offices. There are many reasons why you may choose to file a Chapter 13 instead of a Chapter 7 bankruptcy. In Kentucky, you do not technically have a right to reinstate your loan unless it is a high-cost home loan. Lenders of high-cost loans must give at least 30 days’ notice of default to the borrower. Check your mortgage loan to determine whether or not you have a right to reinstate your loan. If not, there is still a chance that you can negotiate reinstatement with your lender.

Contact O’bryan Law Offices For Help With Bankruptcy Do’s And Don’ts

Chapter 7 bankruptcy, also known as liquidation bankruptcy, is the most common form of consumer (non-business) debtor bankruptcy. Chapter 7 will halt collections activity including lawsuits, garnishments and threatening phone calls. It will also help you to eliminate most, if not all, of your debt and give you a great chance of keeping your assets. Additionally, a Chapter 7 Bankruptcy may be resolved in a matter of months. While there are many benefits to filing a Chapter 7 Bankruptcy in Kentucky, there are certain considerations that may lead you to choosing another form of bankruptcy.

What exactly happens to a spouse or co signer when you file bankruptcy and their property. If your Chapter 13 plan payment is too high it can be modified and lowered if your income decreases. The idea of bankruptcy is to allow the debtor to have enough property to obtain a fresh start and a new chance at life. Deciding whether a Will or trust is the best way to protect your assets can be tricky. While every state has its own set of exemptions, creditors generally cannot garnish income from the following sources.

Work often gets filed late or goes unfiled because you didn’t pay for it. Or you lose property because he won’t do the work or doesn’t know how to do it. Sometimes the case has to be filed twice, which allows him to earn that cheap fee twice. In Chapter 7 bankruptcy, deficiency balances are considered unsecured debt and can be discharged, meaning you will no longer be responsible for paying them.