While filing for bankruptcy may have some stigma attached to it, in fact many residents of Kentucky these days view it as a proactive way to wrest control of their debt and start over with a fresh financial slate. Oftentimes people are simply hit by some sort of financial catastrophe, such as a job loss, a medical emergency or a divorce that left them with insurmountable debt.

One type of bankruptcy is a Chapter 7 bankruptcy. In this type of bankruptcy, a debtor may be able to liquidate much of his or her unsecured debt, that is, debt not attached to a piece of collateral such as a house or an automobile. In fact, sometimes a person is able to keep their home and car, even if they file for Chapter 7 bankruptcy.

Chapter 7 bankruptcy can help those whose wages are being garnished, who are receiving harassing phone calls from debtors, who are facing repossession of their vehicles or those who are facing sizeable medical debts. In the end, some debtors in Kentucky find that filing for Chapter 7 bankruptcy is the most appropriate means for dealing with their debt.

The legal team at Kruger & Schwartz assists their clients who are seeking debt relief. Sometimes there are alternatives to bankruptcy to be explored, but if it is determined that filing for bankruptcy is a debtor’s best course of action, the attorneys at Kruger & Schwarts will help their clients understand the bankruptcy process, including all of the required bankruptcy paperwork and credit counseling requirements. Those who want more information about how personal bankruptcy can help them can visit the firm’s Chapter 7 bankruptcy website.