You’re probably well aware of how important your credit report and credit scores are. The Fair Credit Reporting Act outlines exactly how certain Kentucky Bankruptcy Lawyer financial information, such as debt collection, can be shown on your credit report. Other state and federal laws exist that provide protections for consumers against the following. In transactional matters Ted concentrates in all aspects of financing and secured transactions, leasing, structured financings, workouts and reorganizations, and general corporate practice.
How To Get A Chapter 7 Bankruptcy Discharge
An individual may qualify if he or she has a certain amount of debt and assets. Someone who owes an amount just above the Chapter 13 debt limits may result in the filing for Chapter 11 bankruptcy. In addition, under Chapter 13, debtors will have no direct contact with creditors. The payment plan acts like a consolidation loan in which the individual makes payments to a trustee, who will then distribute the money to creditors. O’Bryan Law Offices can help you file for bankruptcy, rectify your financial situation, and help you out from under crushing debt.
Louisville Bankruptcy Attorney
Stakeholders may file for Chapter 13 individually over the other chapters of bankruptcy because it’s cheaper, and they can keep their business open while paying off their debts. In order to start the Chapter 11 bankruptcy process, you should start by hiring a bankruptcy attorney. They will walk you through the entire process, ensure that your rights are protected, keep your best interest in mind, and pay off your business debts. Bankruptcy allows individuals, couples, and businesses that cannot meet their financial obligations to be excused from repaying some or all of their debt. If you have questions regarding bankruptcy law contact one of our recommended attorneys today.
Additionally, we may be able to recover some of the funds that may have been taken. If you’re looking to stop wage garnishments in their tracks or achieve debt relief, O’Bryan Law Offices is here for you. A wage garnishment will continue until the entire debt is paid off or arrangements are made to pay off the debt. If you do not want to file bankruptcy, your only other options are continuing with the garnishment or contacting the creditor directly to arrange payments for the debt. Before making the decision to file for bankruptcy, it’s important to sit down and weigh the pros and cons.
The other option (which really isn’t an option) is turning to a debt settlement service. These services often claim that all you need to do is pay them and they will negotiate with your lenders and wipe away your debt for a fraction of the cost of filing for bankruptcy. Unfortunately, these services basically fall just short of being considered scams. They have no legal power, they aren’t well-versed in the law, and likely you’ll end up in a far worse position than you were to start out. To learn more about why debt settlement services are, a bad idea, click here.
Michelle has lived in Louisville her whole life and has practiced at the same location for 26 years. Michelle has a daughter in college and enjoys tennis, squash, and pickleball in her free time. At O’Bryan Law Offices, we stand ready to help Kentucky residents handle a multitude of different situations, including the following. However, it’s also important to note that poverty levels have actually fallen in Kentucky in recent years. While it may not be a radical change, it is still a noticeable level of improvement.
Even if you are behind on federal student loans, you can have your disposable earnings garnished. For this, the Department of Education can garnish up to 15% of your disposable income. The federal government has placed limits on amounts for garnishments.