You may find yourself weeding through collection letters and phone calls, wondering how you got here. However, some common scenarios may often lead to crushing debt. Bankruptcy is one option you may want to consider to get yourself back on a steady financial path....
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Personal Bankruptcy
What is the homestead exemption in bankruptcy?
Having to declare bankruptcy can have a serious effect on those who endure it, especially when it comes to the question of how to prevent losing a home. However, residents of Kentucky and Indiana may have the option of keeping their home because of the Homestead...
Could spending prior to filing be bad?
When you file for bankruptcy, you must disclose a lot of information about your finances. This will include activities prior to filing your petition. According to U.S. News and World Report, if you made financial moves prior to filing for bankruptcy, the trustee may...
Medical debt accounts for half of American adults’ bankruptcy fears
A growing number of Americans fear that a major health issue will lead to bankruptcy. As noted by the Gallop News website, one of the survey company’s recent polls showed that 50% of American adults feared a bankruptcy would result from a medical event. The July 2020...
Can bankruptcy help with foreclosure?
One of the many worries on the minds of those struggling with overwhelming debt, who may have fallen behind on mortgage payments, is saving a family home from foreclosure. Struggling consumers and homeowners facing the foreclosure process should be familiar with the...
The Means Test for a Chapter 7 Bankruptcy Filing
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...
How soon can you buy a house after declaring bankruptcy?
Many Louisville area residents have had financial problems in their life. There are so many circumstances that can arise, at no fault of the individual, where their financial circumstances can change seemingly overnight. An unexpected medical condition, for example,...
When does filing bankruptcy make sense?
Despite bankruptcy's stigma, filing may provide you the financial relief that you need. You might have concerns about your credit and reputation taking a hit if you do so. But these things can be easier to restore than your finances, if your debt keeps piling up. Yet...
Tips to avoid personal bankruptcy
When many people consider bankruptcy, they often believe that it is akin to the "Get Out of Jail Free" card in Monopoly. While there are many valid reasons to consider declaring personal bankruptcy, it is also important to understand the ramifications of doing so....
Real Housewives star’s personal bankruptcy case reopened
Many readers in Kentucky may have heard about the legal proceedings and fraud case facing a family who were popular figures on the show The Real Housewives of New Jersey. Joe and Teresa Guidice seemed to have everything going for them – looks, money and...
