We will review your finances and recommend some Kentucky debt relief programs Louisville Foreclosure Lawyer that may help you. Lower interest rates mean more manageable monthly payments and an easier repayment process. Once you consolidate your debts, you won’t have to worry about multiple payment schedules anymore. Yes, Chapter 13 bankruptcy can halt foreclosure proceedings and provide an opportunity to save your home. When you file for Chapter 13, an automatic stay goes into effect, immediately stopping ongoing foreclosure actions. While in Chapter 13 bankruptcy, it’s possible to buy a car, but it typically requires court approval.
Involuntary Bankruptcy Limitations
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. Sometimes attorneys will take less time preparing the petition, disobey the rules, delay doing work, and take short cuts. It’s important to note that filing for bankruptcy after foreclosure can be complex and may require the help of a bankruptcy attorney. The bank may offer a probationary order, which allows you the ability to catch back up over six months. However, the bank has to pay a $300 dollar filing fee to file the motion for relief from stay.
If you fail to give an answer, the court will likely award your lender with a default judgment. This is when having qualified foreclosure attorneys on your side will be invaluable. Zombie Debt Collectors will often buy debts which are past the statute of limitations or that have been discharged in bankruptcy and then attempt to collect the debt. Debt Management companies often file bankruptcy themselves or close after you have paid them leaving you owing the debt.
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.
How Do I Settle My Debts In Kentucky?
Contact O’Bryan & O’Bryan to find out more about our bankruptcy law practice and how we can serve you. Around 14 days after you receive your discharge, the court will enter the final decree of the case. This decree officially closes the bankruptcy case and discharges the trustee from their responsibilities in the case. The bankruptcy filer must complete a debtor education course, also called a financial management course. After completion, they must submit the certificate of completion to the court within 45 days of the first 341 meeting.
Bankruptcy
Our Louisville bankruptcy lawyers help individuals file for Chapter 7 or Chapter 13 bankruptcies. The two general differences between the types of filings are what happens to a filer’s assets and their debts. Let us be your advocate when it comes to saving your home, protecting your paycheck, and helping you obtain the debt relief that you need. If you’re looking for a compassionate bankruptcy lawyer in Louisville KY, then look no further.