Individuals experiencing financial hardship may mistakenly believe that defaulting on a payday loan results in an arrest or spending time in jail. As reported by USA Today, debt collectors threatening individuals they could face fraud charges may have crossed the line...

Bankruptcy, such as Chapter 7 and Chapter 13, takes between five and seven years to pay off. It is stressful, embarrassing and devastating to your credit rating, but the process can mean a fresh start. The new beginning starts with developing a game plan to guarantee...

Filing for bankruptcy in Kentucky is an opportunity for people to revitalize their finances and get rid of overwhelming debts. Contrary to what many believe, bankruptcy is not a crushing blow to credit scores. While it will impact a person's credit, the effects do not...

When you file for bankruptcy, the court issues an order called an automatic stay. The automatic stay provides a freeze on your debts. According to Cornell Law School, the automatic stay will help to pause actions by creditors against you in most cases. It serves as a...

This year has been unlike any other, and it has lead to some unusual trends in bankruptcy filings. In general, bankruptcy filings have gone down in recent months. However, certain types of bankruptcies have grown more popular during this same span, and recent events...

Whether or not a person can bounce back from bankruptcy is a worry that most people have before and after filing bankruptcy. While it is true that bankruptcy affects your credit score, it is not a permanent mark against your credit. After discharging your debt, you...

Bankruptcy does not mean the loss of all your assets. In fact, state and federal bankruptcy laws provide exemptions so you have the property you need to make a fresh financial start.  If you are considering bankruptcy, review the available Kentucky exemptions. If you...

Those people in Kentucky researching the potential of filing for personal bankruptcy quickly learn that there are a number of options available to them. The most popular of these is to file in Chapter 7 (indeed, according to the American Bankruptcy Institute, over 76%...

As one of the largest generations in American history ages, new trends among older adults spring up. People are living longer and hence they have new problems that did not face previous generations. Bankruptcy, for instance, is no longer a tool for younger adults. A...

A Kentucky bankruptcy does not mean the end of obtaining credit cards, loans and mortgages. As noted by U.S. News and World Report, you may find offers in the mail to apply for secured credit in about one month after your bankruptcy discharge. Before filling out a...