Chapter 7 bankruptcy can be an excellent legal option for a Kentucky resident who is struggling to overcome significant debts. Burdensome financial obligations can take many forms, from unexpected medical bills or losses of income from layoffs or cutbacks. Credit card...
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What are Chapter 7 bankruptcy exemptions?
Personal bankruptcy protections can help consumers with overwhelming debt enjoy debt relief and get on a fresh financial footing. Chapter 7 bankruptcy is one type of personal bankruptcy protection that is referred to as a liquidation bankruptcy process during which...
Why is Chapter 7 bankruptcy such a popular choice?
Chapter 7 bankruptcy is a popular choice for many reasons. However, it is not the right choice for everyone. If you have overwhelming debt that you don't think you can tackle alone, one form of bankruptcy or another will likely help you solve your issues. However, the...
Am I able to file for Chapter 7 bankruptcy in Kentucky?
Almost anyone who is facing overwhelming debts will be able to file for bankruptcy, but the type of bankruptcy will depend on their preferences and current financial situation. Chapter 7 bankruptcy is a very popular option because it is the quickest form of...
Is Chapter 7 bankruptcy the right choice for me?
Many people have reservations before deciding to file for bankruptcy. It's common to feel as though filing for bankruptcy counts as an admission of failure, but this is only an illusion. Taking action to file for bankruptcy can be the opposite of this. It is the act...
How does a secured credit card work?
Most credit cards are unsecured loans. They are not backed up by anything. The lender is placing their faith in you that you will repay the money they give you, perhaps because you have shown a history of faithful payments in the past. However, you do have the option...
Key considerations before filing for Chapter 7 bankruptcy
If you are struggling with a high amount of debt, you may have already read about the potential benefits of filing for Chapter 7 bankruptcy. This bankruptcy filing can be particularly beneficial for those who have a low income and a high amount of debts. However,...
You have rights and responsibilities in a Chapter 7 bankruptcy
When you don't have a lot of assets and only a limited income but are drowning in debt, you might decide that you are going to file for bankruptcy. More than likely, you will qualify to file a Chapter 7. This requires that you pass the means test. Once you meet it and...
Out-of-pocket medical expenses can lead to bankruptcy
Medical bills are one of the leading causes of bankruptcy in this country. Some people might think that this problem only affects the underinsured or uninsured. This isn't at all the case. When you are reviewing your medical insurance policy, there is one major...
Don’t be afraid to file a Chapter 7 bankruptcy
A lot of people are terrified at the idea of filing for bankruptcy, for a number of reasons. In reality, a Chapter 7 bankruptcy will have a negative effect on your credit for a while. There's no avoiding that. However, it's important to keep some perspective about the...
