We’ve streamlined this process to give you the peace of mind that you need during this stressful time. We’re here to guide you through the challenges of financial, emotional, and physical stress. This law firm website and legal marketing are managed by MileMark Media. By submitting, you agree the phone number you provided may be used to contact you by the law firm and its Louisville Bankruptcy Lawyer affiliates (including autodialed, pre-recorded calls or text messages). If you don’t want us to contact you, feel free to call our numbers.
Best Bankruptcy Lawyers In Louisville, Ky
Before you can file bankruptcy you must meet receive credit counseling from an approved credit counseling agency. Fortunately, O’Bryan Law Offices offers approved Kentucky credit counseling. Filing a Chapter 7 or a Chapter 13 bankruptcy places an automatic stay on your creditors. The stay keeps the creditor harassment at bay and stops further collection attempts on most of your debt. However, creditors may petition the court to lift the stay and allow the resumption of collection activity.
Be sure to check before you go to make sure in-person are currently available. Chapter 7 bankruptcy may not be a topic you ever thought you’d want to learn more about. But remember, bankruptcy relief is available to everyone who needs a fresh start, without judgment of how they got there. The fact that you’re looking at your options should make you feel better already.
For instance, an inheritance or winning lottery ticket may not have been considered an asset when you drafted your petition. Yet it is a property you have or will have to repay your creditors. When you’re facing foreclosure, it’s important to understand how the process works as a whole. You may have many questions, such as “When is it too late to stop foreclosure? ” Each state has its own unique laws and protections for borrowers, as well as specific processes. Once you have fallen behind on your mortgage payments, you still have time and options that will help you prevent or avoid foreclosure.
In the following sections, we briefly outline the Kentucky foreclosure process. Foreclosure is a process that no homeowner wants to go through. However, encountering financial difficulties and failing to make mortgage payments can trigger the process. As a borrower, you still have rights, regardless of whether the foreclosure process has begun. Kentucky foreclosure law allows you certain rights, and our attorneys are here to defend those rights. If you need a foreclosure defense lawyer Kentucky, O’Bryan Law Offices is here for you.
With over 30 years of experience, I understand how to help my clients with bankruptcy cases. An average salary in Kentucky for an attorney is $100,100, but Kentucky also has some of the nation’s least qualified attorneys and related jobs. The average salary in Kentucky for a national fresh out of law school attorney is now close to $100,000. The bankruptcy court doesn’t issue job alerts with a base salary for a consumer attorney.
How Bankruptcy Can Stop Foreclosure
Filers must fill out and submit all the necessary forms in a timely manner in order to receive their bankruptcy discharge. We recommend working with a local bankruptcy lawyer, as they will already know what documents you’ll need at the federal and local levels. Everyone goes through hard times and some of life’s events can really set you back. Losing a job, an unexpected injury, or divorce can often lead to financial ruin. If you are faced with overwhelming debt, our bankruptcy attorneys can help you get the relief you are seeking.
Once you file and have a case number, creditors will no longer legally be able to pursue you. In chapter 13, you will pay back your creditors, including the one trying to garnish you, with plan payments. In a chapter 7 bankruptcy, as long as the debt is dischargeable, they can take no further action against you. When you’re going through a financial hardship, declaring bankruptcy may be an option to remedy your situation.
Like bankruptcy, real estate transactions can be fraught with legal complexities. A real estate attorney is a professional in all legal matters related to real property. Your real estate attorney can prepare and review purchase agreements, mortgage documents, title documents, and transfer documents. Called “reorganization bankruptcy”, Chapter 13 allows you to reorganize your debt into a three- to five-year repayment plan. Chapter 13 is a good option if you would like to save your house from foreclosure or car from repossession.
The Chapter 7 Trustee is usually an attorney or CPA who represents all of the creditors by building a good attorney-client relationship. Over 90% of the time, there will be no assets available for distribution in a Chapter 7 case. The Chapter 7 panel trustee is paid about 75 dollars for each case he reviews in the Chapter 7 case. A panel trustees report will also usually include that your income is not enough to allow a Chapter 13 payment. [newline]If there are assets available for the benefit of creditors, he will report that to the creditors so they can file a claim.
The worst situation happens when you could have kept the property using an exemption. You have to own the property you are exempting to use an exemption. The Panel Trustees research for transfers of property you try to get out of your name. Transfers to another person as a gift or at some unreasonable price will be taken as a fraudulent or preferential transfer. But what if a third party is the highest bidder at the auction?