Call for a free bankruptcy consultation

Louisville |

502-485-9200

New Albany |

812-945-9200
Schwartz Bankruptcy Law Center

Posts tagged "Chapter 7"

Filing for bankruptcy? Three things you shouldn't do

National statistics show that U.S. consumers are currently carrying more than $12 trillion in debt. If you are one of the millions of individuals who are struggling to make even minimum monthly payments on high interest credit cards and medical bills or who must decide between paying the rent or mortgage and buying food; it is time to take action and to explore your options for eliminating debt.

How do Chapter 7 and Chapter 13 bankruptcy differ?

Simply put, income is the primary difference between these two types of bankruptcy. A Kentucky resident has to be below a certain income level in order to qualify for Chapter 7 (commonly referred to as a liquidation bankruptcy). If an individual's income is higher than that demarcation point, a Chapter 13 (commonly referred to as a reorganization) will need to be filed.

Chapter 7 bankruptcy and student loans

Most Kentucky residents are under the impression that student loans can never be discharged in a bankruptcy, but that it not entirely true. Under certain circumstances, some or all of an individual's student loans can be discharged in a Chapter 7 bankruptcy. However, the process is complex and should not be attempted alone.

Craft brewery seeks Chapter 7 bankruptcy

Whether large or small, many businesses must make the smart decision to shutter their operations when they are no longer viable. When liabilities outweigh assets and there is not a way to restructure the debt, it is prudent for a company to seek bankruptcy. Kentucky readers may be interested in a recent article written about a craft brewing company in the southeast which filed for Chapter 7 bankruptcy.

Former Kentucky basketball star files Chapter 7 bankruptcy

When most people imagine the lifestyle of a sports star, they generally picture a comfortable or even luxurious existence. However, recent articles and documentaries that feature talented college and professional athletes tell another story. Many leave their venerated standing in the sports world and discover that the money and notoriety they obtained dwindles quickly after they retire or move on from playing sports. A recent article describes the story behind former University of Kentucky basketball star Richie Farmer's recent decision to seek Chapter 7 bankruptcy.

Make A Payment Email Us For a Response

Need A Solution To Your Debt Problems?

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Make A Payment
Schwartz Bankruptcy Law Center

Office Locations:

Louisville Office
3339 Taylorsville Road
Louisville, KY 40205

Phone: 502-785-8549
Phone: 502-485-9200
Fax: 502-485-9220
Louisville Law Office Map

New Albany Office
501 State Street
New Albany, Indiana 47150

Phone: 502-785-8549
Phone: 812-945-9200
Fax: 502-485-9220
Map & Directions

Phone:

LOUISVILLE |

NEW ALBANY |

Fax: