Bankruptcy Lawyers in Nicholasville KY
Do You Need a Bankruptcy Lawyer in Nicholasville, KY?
Filing for bankruptcy can sometimes be complicated and confusing. It is vital to work with experienced bankruptcy lawyers in Nicholasville KY to help you with your case. Your creditors obviously want to receive payment and have little to no interest in your financial situation. This means that they’ll do whatever it takes to collect from you, no matter the toll on your mental state.
An experienced Nicholasville bankruptcy attorney at O’Bryan Law Offices is knowledgeable even with the changing bankruptcy laws, knows what forms need to be filed, and what deadlines must be met. They are familiar with the judges within the Kentucky bankruptcy system, so they know what arguments need to be made to get the results you need. Your chance of a successful outcome to your bankruptcy increases significantly when you have a bankruptcy lawyer.
When Should I Call a Bankruptcy Attorney in Nicholasville?
When you feel like you have done everything imaginable to solve your financial problems and you’re not succeeding, it may be time to call an experienced Kentucky bankruptcy attorney. If you are facing any of the following financial problems, they may be strong indicators that it may be time to consult a knowledgeable attorney:
- Find yourself unable to meet your monthly obligations
- Receiving constant calls from debt collectors
- Experiencing little cash flow
- Have written “hot” checks
If you are unable to repay your debts and qualify, a bankruptcy attorney at O’Bryan Law Offices can help you get a fresh start on your financial future. Call 502-339-0222 today to schedule your free consultation with us.
Why Choose O’Bryan Law Offices for Your Bankruptcy Case?
Hiring our experienced bankruptcy attorneys will ensure that you get your fresh start. We have over 40 years of combined experience in representing clients for their bankruptcy needs. We are conveniently located across the state of Kentucky. We will assist you with stopping credit harassment, protecting important assets, and more.
We are proud to now be serving Nicholasville residents during their bankruptcy process. Our office offers free consultations to answer any questions you may have about the advantages and disadvantages of the different types of bankruptcy.
Types of Bankruptcy Cases We Handle
We will be with you every step of the way, whether you want to file for Chapter 7 or Chapter 13. The two most common types of personal bankruptcy are the following:
Chapter 7 Bankruptcy
Chapter 7 bankruptcy is also known as “liquidation bankruptcy.” The “chapter” names that are involved in bankruptcy proceedings come from the chapters where they appear in the federal bankruptcy legal code. The goal of Chapter 7 is to discharge unsecured debt that has grown beyond your control. This includes medical bills, credit card debt, unsecured loans, and more.
A Chapter 7 bankruptcy offers complete relief, most unsecured debts are eligible for discharge, proper use of exemptions helps get the full benefit, and working with Nicholasville bankruptcy lawyers is favorable. Certain obligations such as recent taxes, student loans, and child support are not dischargeable in bankruptcy. To qualify for Chapter 7, your gross household income must be no greater than the state median in Kentucky.
We will evaluate whether Chapter 7 bankruptcy is the right choice for you by discussing:
- The makeup of your current debt
- Income and assets
- Any history of filing for bankruptcy
- Your priorities, such as keeping your home or car
Chapter 13 Bankruptcy
Unlike a Chapter 7 bankruptcy, when a person files for Chapter 13 bankruptcy, people can keep their assets while paying off debt. Chapter 13 includes a repayment plan that only pays part of your debt. Your secured and unsecured debts cannot exceed a certain amount.
In a Chapter 13 repayment plan, you create a budget based on your monthly income and living expenses. You tell the bankruptcy court how much you can afford to pay towards your debts every month. And finally, the court and the bankruptcy trustee review the repayment plan.
Once it is approved, you pay your disposable income to the trustee and send in a tax return every year. When all the payments are complete, your remaining debt disappears.
What Can a Nicholasville Bankruptcy Lawyer Do for Me?
The biggest benefit that a bankruptcy lawyer at O’Bryan Law Offices can provide is that we can quickly recognize any potential problems that could arise during your bankruptcy case. We will help you determine whether bankruptcy is the right choice for you and decide which type of bankruptcy to file.
Our attorneys will also help with the following:
- Completing schedules and other paperwork
- Guide you through the case
- Provide accurate and complete information
- Handle creditors who violate the automatic stay
- Negotiate with your creditors
- Modify a Chapter 13 payment plan
Questions to Ask a Bankruptcy Lawyer Before Filing
A great way to start your meeting with a bankruptcy attorney is to explain why you’re there. You may be facing foreclosure and repossession, or you may just be struggling with getting bills caught up. When you’ve explained your situation, you’ll ask, “Will bankruptcy solve my financial problems?” If your attorney responds to that question with an answer of yes, then you’ll want to ask a few more questions to follow up, such as:
- Should I file for Chapter 7 or 13?
- Will it erase all of my debt?
- Can I keep all of my property?
- What does the bankruptcy process involve?
- How much will filing for bankruptcy cost?
- Does bankruptcy clear tax debt?
How Much Does a Nicholasville Bankruptcy Lawyer Cost?
The cost of bankruptcy mostly depends on the chapter of bankruptcy that you file. Current court filing fees are $338 for Chapter 7 and $313 for Chapter 13. You’ll have to pay additional costs, such as the Chapter 13 payment and administrative fees, through your Chapter 13 plan. However, there are many people that qualify for fee waivers. Speak with a Nicholasville bankruptcy attorney to determine if you qualify for the fee waivers and to determine your potential attorney fees.
How to File for Bankruptcy in Nicholasville, KY
Sometimes the process of filing for bankruptcy can be complicated and confusing. It’s vital to educate yourself on what happens when you file for bankruptcy. The steps for filing bankruptcy are as follows:
- Gather financial records- list your debts, assets, income, and expenses.
- Get credit counseling in Kentucky within 180 days prior to filing- bankruptcy counseling is required before filing bankruptcy. This will assure the court that you have exhausted all other possibilities prior to filing.
- File the petition- you can try filing bankruptcy on your own, but you would be taking a serious risk in doing so. Without legal advice, you run the risk of the bankruptcy trustee seizing and selling your property.
- Meet with creditors- when your bankruptcy petition is accepted, your case will then be assigned to a bankruptcy trustee. They will then set up a 341 meeting with your creditors. You are required to attend the meeting; however, your creditors are not. This is when the creditor can ask you or the court trustee any questions about your case.
It is essential to know the proper steps for a successful bankruptcy filing. The bankruptcy attorneys at O’Bryan Law Offices have the experience you need to have a successful case.
Contact O’Bryan Law Offices for Professional Legal Guidance
We want to help ensure you can live a life free from debt. If you’re looking to resolve your debt by filing bankruptcy, don’t hesitate to call the O’Bryan Law Offices at 502-339-0222 today for your free consultation.
Other Areas We Serve
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