If you miss it, you will risk losing your bankruptcy case Louisville Foreclosure Attorney altogether. As stated previously, this meeting is generally quick and simple. For these reasons and more, it’s crucial to be as honest as possible during a 341 meeting. Before your questioning, you will certainly have to take an oath to honesty. If these situations don’t apply to you then, you probably shouldn’t be in Chapter 13. Furthermore, fewer family farmers or fishers benefit from Chapter 13 because it is intended for wage earners with lesser obligations than those faced by family farms.
Don’t pay the filing fee upfront, and you put clerks through added work. Judges will presume you are wasting their time and have no intent of filing in good faith. While student loans are often considered nondischargeable debts in both Chapter 7 and 13 bankruptcies, some exceptions can help discharge someone of their student loan debt. For example, if paying the loans is causing an individual undue hardship, then their debt may be discharged. We can help you understand the advantages and disadvantages of a Chapter 7 filing and can help you file your petition for bankruptcy.
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However, the lender can then file a Motion to Lift the stay on your foreclosure, and probably will. Because a Motion to Lift is often hard to fight, Chapter 7 bankruptcy will probably only delay foreclosure. The only way to avoid a Motion to Lift is to catch up on your payments, which may be possible if you don’t have to worry about your other debts. The prospect of losing your home due to insurmountable debt can be devastating.
Kentucky Districts & Filing Requirements
Unless the court permits a longer time for cause, the plan must typically make provisions for payments over three years. He began his legal career in a general practice law firm in the heart of central Kentucky. There he learned about numerous areas of practicing law including bankruptcy, criminal, real estate, family, and personal injury and gained valuable trial experience. He chose bankruptcy as a primary focus because he believes it can impact his client’s lives in a positive way that no other area of law can. Shopping for a cheaper or lower-cost attorney to file Chapter 7 bankruptcy often hurts. When firms advertise a lower cost, it normally means the debtor gets a lawyer with little experience.
According to the Kentucky bankruptcy exemptions, the following forms of real or personal property are exempt. When a creditor shows up to the meeting, it’s a good idea to have your attorney present. This way, you won’t be manipulated into making statements that can work against you. Not all attorneys are created equal — some work to become outstanding in a specific area, such as working with foreclosures and student loans.
It’s important to understand Kentucky divorce laws when filing for divorce-related bankruptcy. In Kentucky, domestic obligation debts such as alimony (spousal support) and child support cannot be discharged in a bankruptcy. However, you can consolidate back support and pay it off through a Chapter 13 bankruptcy. We strongly recommend scheduling a free consultation with a Kentucky or Indiana bankruptcy lawyer before you decide to file.
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.
He is also responsible for auditing each case to ensure the petition is accurate and that the debtors are honestly reporting assets. While the Panel Trustees are auditing the debtor, the US Trustee sometimes audits how the attorney has prepared a case. In order to redeem the property, you must pay off the amount that you owe on your loan before the foreclosure sale begins. In Kentucky, you also have what is known as a redemption period.
Some filers choose to do this if their wages are being garnished or they’re facing other serious collection actions. That’s because as soon as you file for bankruptcy, an automatic stay goes into effect. Call today to schedule your free Bankruptcy consultation with one of our experienced Louisville Bankruptcy attorneys.