Kentucky Bankruptcy Legal Questions

You have to include all your creditors on your schedule. If you want to keep the furniture purchased from the different creditors, then you have to reaffirm the debt, which may defeat the purpose for filing the bankruptcy. Failure to do so, the creditors are entitled to their goods. It's more like you cannot afford to keep what you have!... Read More

Yeah, good luck trying to find an attorney to take a case like this. A lawsuit because your feelings are hurt by your apartment manager or because a postal employee made a mistake is going to require you to have damages in the tens of thousands of dollars and I would expect anyone willing to take this on to require a retainer of at least $5,000.... Read More

Generally, once the case is over the trustee is deemed to have 'abandoned' any property left to the debtor. There are a few trustees who take a hard line on income tax refunds, and demand a pro rata share of the refund. (That is, if you filed say, on day 200 of the year 2015, the trustee might demand 200/365 of the refund.) Again, not all trustees follow that policy. Check with your bankruptcy lawyer as to the practice in your district. Good Luck.... Read More

We have about $15k in credit cards, $9k student loans, $145k mortgage debt on second house (first house we owe $90k and it MIGHT get $50-60k), next to no equity on second house, and two vehicle loans totaling around $6000-7000. What debts would be satisfied? What would you do? - you could file BKY and surrender the "rented" house in BKY and that lender couldn't assess a deficiency against you. You could discharge the credit card debt (in whole or in part, depending on if you had to file a chapter 7 or a chapter 13), reduce the car loans to the cars' worth (only if filing a chapter 13, AND if the debt was taken out NOT LESS THAN 910 days ago from the date of filing), and the student loans can NOT be discharged - PERIOD. That's a "quick" answer, but we'd have to take a look at the whole picture before deciding which course of action is best.... Read More

You will be able to keep your are in license when you file for either chapter 7 bankruptcy or chapter 13 bankruptcy, even if you attempt to include your student loans within bankruptcy. I stated your take advantage of chapter 13 bankruptcy on your student loans, this will have the effect of stopping any collection practices and allowing you to make normal monthly payments while paying the arrears over a three to five-year repayment plan. In certain circumstances you may discharge student loans in bankruptcy, but for someone even considering chapter 13, which means you plan on repaying the loans, you would not fit into the criteria needed to discharge student loans in a chapter 7 bankruptcy. I have responded to your inquiry according to the laws of Massachusetts, where my firm is located. Laws can vary significantly from state to state and cases tend to be rather fact-specific, so you are best served by consulting with a knowledgeable attorney in weighing your options. Email messages/Online Correspondence are akin to conversations and do not reflect the level of analysis applied to formal legal opinions. Email/Online responses do not form an attorney-client relationship.    Joseph F. Botelho, Esq. BOTELHO LAW GROUP Attorneys At Law http://www.fallriverbankruptcyattorney.com/ 901 Eastern Ave.  Unit 2 Fall River, MA 02723  Office:  888-269-0688 FAX:    877-475-8147 #bankruptcy  #lawyer  #FallRiver  #Chapter7  #chapter13  #debt  #debtsettlement  #foreclosure  #attorney   #cantpaybills  #lawsuit  #court  #bankruptcycourt  #eviction  #lostmyjob, #student, #loans, #education, #IRS, #taxes... Read More

Maybe. You can certainly request a fee waiver and explain why you need it. Then it's up to the court to decide whether to grant the waiver. As for including new debts, the answer is definitely "No." The only way to include new debts is to file a new bankruptcy case. You will have to take a new credit counseling course and financial management course, but you will be able to include these new debts. You will need to weigh the options and decide which is the best course of action.... Read More

Chapter 7 has several different tests used to determine eligibility.  The only way to find out if you're eligible is to have a consultation with an experienced bankruptcy attorney in your area. It depends primarily on your income and expenses, including all income received in the 6 calendar months prior to filing your case, but also the income as it is on the date your case is filed.  Your marital status and household size also factor into the analysis. Payday loans are dischargeable in Chapter 7 as long as they are not incurred through fraud.   My article on getting rid of payday loans through bankruptcy may be of interest to you.... Read More

You cannot file chapter 7 bankruptcy on student loans and discharge them, unless very specific circumstances pertain to your case. From what you of listed here you do not have any of the circumstances that allow you to discharge private student loans. Think of student loans as the same as you would think of IRS taxes, they are funded by the government or pertain to the government and there is very limited means of escaping government debt. There are different programs out there, but as you stated it seems that you do not fit into any of them. I would do more research because there are new options every day, but if you've done this and you do not fit into any of them, bankruptcy I do not see helping this problem.   I have responded to your inquiry according to the laws of Massachusetts, where my firm is located. Laws can vary significantly from state to state and cases tend to be rather fact-specific, so you are best served by consulting with a knowledgeable attorney in weighing your options.   Email messages/Online Correspondence are akin to conversations and do not reflect the level of analysis applied to formal legal opinions. Email/Online responses do not form an attorney-client relationship.      Joseph F. Botelho, Esq.   BOTELHO LAW GROUP Attorneys At Law   http://fallriverbankruptcyattorney.com/   901 Eastern Ave.  Unit 2 Fall River, MA 02723    Office:  888-269-0688 FAX:    877-475-8147   #bankruptcy  #lawyer  #FallRiver  #Chapter7  #chapter13  #debt  #debtsettlement  #foreclosure  #attorney   #cantpaybills  #lawsuit  #court  #bankruptcycourt  #eviction  #lostmyjob  ... Read More

When you hire a bankruptcy attorney, you are hiring them to gather the information needed and documentation needed to file your bankruptcy petition. Bankruptcy attorneys do not represent you and actions that are affected by your bankruptcy. Once your bankruptcy petition is filed, then the judgment will be dismissed and you should be able to get your license back. But your bankruptcy lawyer only has a responsibility and filing your bankruptcy petition within a reasonable time, not a time limit dictated by the possibility of losing your license or any other adverse action concerning a lawsuit. The only exception to this would be if your bankruptcy attorney took too long, even after you provided them with all the required information and documentation. I have responded to your inquiry according to the laws of Massachusetts, where my firm is located. Laws can vary significantly from state to state and cases tend to be rather fact-specific, so you are best served by consulting with a knowledgeable attorney in weighing your options. Email messages/Online Correspondence are akin to conversations and do not reflect the level of analysis applied to formal legal opinions. Email/Online responses do not form an attorney-client relationship.    Joseph F. Botelho, Esq. BOTELHO LAW GROUP Attorneys At Law http://fallriverbankruptcyattorney.com/ 901 Eastern Ave.  Unit 2 Fall River, MA 02723  Office:  888-269-0688 FAX:    877-475-8147... Read More