If they choose to sell, they may do this either privately or publicly. Privately entails selling to a single person, while publicly usually entails an auction. Kentucky Kentucky Bankruptcy Lawyer law requires lenders to notify you of the date, time, and place of which they will be auctioning off your car. You can legally attend the auction and bid on your own vehicle, given you have the means to pay for it.

 

We’ve helped many clients in the Louisville area save their homes and start fresh. A liquidation bankruptcy is also known as a Chapter 7 bankruptcy. Your non-exempt assets will be liquidated in Chapter 7 bankruptcy to repay a part of what you owe to your creditors. In many situations, a debtor’s assets are excluded, which means that you may lose very few assets in a Chapter 7 bankruptcy. Chapter 7 bankruptcy proceedings typically last only a few months and can relieve you and your spouse of unsecured debt repayment obligations.

 

Print Your Bankruptcy Forms

 

If you bring a second copy of the documents, you can ask the clerk to stamp them with your case number to confirm your case has been filed. Chapter 7 bankruptcy is a relatively quick process to eliminate common debts like credit card debt and medical bills. Hiring a lawyer to represent you is typically the most expensive part of filing for bankruptcy. The good news is that you don’t have to have a lawyer to file Chapter 7. You can keep the costs down by filing without one, either using Upsolve’s filing tool or going it alone. Your Louisville bankruptcy attorney will send notice to the creditor and their attorney to get the wage garnishment stopped immediately.

 

For some overwhelmed Kentucky consumers, it makes sense to file for Chapter 7 bankruptcy protection. This option provides a person with the opportunity to deal with certain types of debt once and for all. There is no one-size-fits-all solution for dealing with unsecured debt, and it is in your interests to first explore all of the options available to you. A debtor may object to the wage garnishment or the amount withheld. In this case, the debtor must file a Claim of Exemption with the court that issued the judgment.

 

Family Law Issues

 

Any money that you make after you file is yours to keep and spend as you like. This is because it isn’t considered part of the bankruptcy estate. You cannot, however, spend any money that is listed in your bankruptcy estate. One of the more important documents that bankruptcy trustees look at is the bank statements of the bankruptcy filer.

 

In 2006 most attorneys who were filing bankruptcy cases quit because it became so complicated. So, if attorneys can’t typically file Chapter 13 bankruptcy petitions, why do some people think they can use a cheap attorney or file a petition themselves? But you are taking a huge chance if you have assets or have filed repeatedly or after transferring property. If you make regular payments on your car loan, the lien will never come into play.

 

There may be work that you want to be done after filing the case. If you need a hearing continued or need to file an amendment, that work happens after you filed the case, and you pay for it when and only if you need it done later. Called “liquidation bankruptcy,” Chapter 7 allows you to eliminate “dischargeable” debt, such as credit card and medical bills and loans. However, a Louisville bankruptcy attorney can help you keep your home, car, and other treasured assets.

 

Technically, the damage that’s done to your credit score comes more from the missed payments rather than the garnishment itself. There are a few exceptions to the automatic stay that generally have to do with child support and alimony obligations. Under some circumstances, a creditor can also ask the bankruptcy court for permission – motion for relief from the automatic stay – to resume collection efforts. These are most common when the creditor’s claim is supported by an interest in collateral.

 

We can also assist you in filing for bankruptcy, should it come down to that. After filing, you’re required to complete a second bankruptcy course. This course is about financial management and debtor education.

 

This is true even if they filed for bankruptcy, because they can discharge their debt to the creditor but not their responsibilities to you under the divorce decree. What your unsecured creditors receive is determined by how much you can afford to pay. A Chapter 13 bankruptcy plan is a form of debt consolidation – – you will make one payment to the bankruptcy trustee, who will then pay your creditors.

 

This includes credit cards, unsecured personal loans, gas cards, medical debt, and even payday loans. However, in order to start the process of consolidation, your creditors must agree to your new reduced payments. You can do this by working with a debt relief law firm and having them communicate with creditors for you. Poor and incomplete petitions cause bankruptcy debtors to lose money and property or spend additional stressful time in court. You have to pay the credit counseling fee and filing fee but debt relief planning and excellent attorneys eliminate unsecured debt.

 

Do you know that you can still file even if you have slightly more equity in property than the exemptions? You can often file if you have more than the average income and 97% of people qualify. These records, including any needed costs, must be submitted with the bankruptcy court clerk near the person’s home or place of business. Most attorneys, however, acquire an initial payment or a couple of plan payments to prove to the court that you can and will make payments during the plan. This also ensures the filer will pay at least part of the attorney’s fee.

 

If the court grants the motion in part, the debtor will often have to pay the court costs and attorney fees for the bank’s attorney filing this motion. Making mortgage or plan payments late may cost a client over $1000 in attorney fees and court costs. Here again is the February 3rd, 2015, motion hour hearing where a judge spent nearly an hour sanctioning a debtor and his attorney in front of other attorneys. In the end, she sends cases to the US Trustee to investigate both the attorney and the debtors. Several of his cases were subject to being dismissed due to allowing clients to make payments on filing fees or paying attorney fees after he filed the case. You don’t have to use a cheap attorney who may not be qualified because money is tight.

 

Speak with a Louisville bankruptcy lawyer to learn more about your options. Our Louisville bankruptcy attorneys know the law and will work on your team to help you get debt relief. We have significant experience representing those in Chapter 7 bankruptcy and Chapter 13 bankruptcy matters involving divorce. We also have a core group of lawyers with specific experience in this area. The answer to this question mostly depends on the chapter of bankruptcy that you file.

 

At the end of the payment plan, any remaining unsecured debts will be eliminated and you will be up to date on your secured obligations. Contact us today for a free consultation about your fresh start. Our friendly attorneys, Leeann and Ally, are ready to help you.