Technically, there is no minimum debt Louisville Foreclosure Lawyer requirement for a person to file bankruptcy. However, we always recommend exploring your options with a skilled attorney to make the best possible decision for your situation. Filing for bankruptcy helps countless debtors achieve debt relief every year, but it isn’t a one-size-fits-all solution. As we mentioned earlier, bankruptcy is a valid solution for preventing lenders from foreclosing on your home. When you file for bankruptcy, this stops the foreclosure process in its tracks.
If you have any nonexempt property, the trustee may ask you to turn it over to him or her. However, you may be able to keep certain types of property if you can afford the payments. For example, you may be able to keep your house or car if you continue to make the payments on time. One common way that bankruptcy lawyers in Louisville get paid is through a flat fee. This means that the attorney charges a set amount for handling the entire bankruptcy case, regardless of the amount of time or effort required. Flat fees for bankruptcy cases in Louisville typically range between $690 – $1200, depending on the case’s complexity.
Louisville, being the largest city in Kentucky, has its own set of financial stressors, from fluctuating employment rates to the rising cost of living. We make it a priority to ensure that each of our clients feels respected, heard, and understood. Don’t lose another night of sleep due to creditor phone calls and unpaid bills. We can protect you, and help you obtain the financial freedom you deserve. From the gal at the front desk to the lawyer who got on the phone with me and was kind and thorough in a quick 5 min consult, these guys are consummate professionals and it shows.
Paralegals In Louisville
If you don’t own a home, or if you have a partially unused homestead exemption, you can use up to $13,950 of that as another wildcard exemption. As of April 2022, you can also receive a full federal exemption for the following. One of the most significant reasons why many people choose the federal exemption option is for the more generous homestead exemption. The Kentucky homestead exemption only protects up to $5,000 of the equity in your home.
Kentucky Bankruptcy Legal Aid & Pro Bono Services
It considers your types of debt and whether or not you have enough disposable income to pay your debts. If you don’t pass the Chapter 7 means test, you can look into filing Chapter 13 bankruptcy instead. While you can open your Chapter 7 bankruptcy case by filing only the voluntary petition and paying the filing fee, it’s better to file all your bankruptcy forms when you open your case. Otherwise, the court may throw out your case if you miss just one of the deadlines for filing the rest of the documents.
How To File Bankruptcy For Free In Kentucky Without A Lawyer
However, it’s important to understand how bankruptcy attorneys get paid before hiring one to represent you. Please include all relevant details from your case including where, when, and who it involves. Case details that can effectively describe the legal situation while also staying concise generally receive the best responses from lawyers.
We recommend speaking with an experienced Kentucky bankruptcy lawyer to determine which bankruptcy chapter is right for you. Contact O’Bryan Law Offices and schedule a free consultation with our consumer bankruptcy attorneys. Observing these bankruptcy do’s and don’ts will help set you up to make the most of your right to debt relief under the Bankruptcy Code. At O’Bryan Law Offices, our attorneys fully understand how the bankruptcy laws apply to your situation and will keep you away from any of these pitfalls.
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.
We will review your finances and recommend some Kentucky debt relief programs 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.