Louisville's Foreclosure & Bankruptcy Lawyer
Your First Obligation Is to Yourself and Your Family Not the Bank.
Helping People Save Businesses and Homes From Foreclosure for 30+ Years!!
How to File Your Bankruptcy
First, gather the documents every debtor is required to provide to the Court. These are the documents trustees use to look for hidden assets, income, & transfers. Keep your documents in chronological and numerical order. We cannot advise you properly without them.
Second, the below link lets you complete our online intake. You can upload pdf files from home, bring them in on a thumb drive, or we can scan them for you. Some clients are be able to file a bankruptcy in one trip!
Third before filing, you must take an online credit counseling class. Cases can not be filed without it. Debtors must also take a debtor education class later to get a discharge. You can prepare a petition before taking the class and getting certified.
What makes filing Chapter 7 or 13 with Nick Thompson better?
At our law office, your advice comes from the head of the firm.
An attorney who teaches lawyers how to fight foreclosures.
At other offices you pay the price for an attorney to prepare a petition but you are handed off to a secretary or paralegal. I always personally prepare your bankruptcy. You are never handed off to a paralegal, or inexperienced attorney. When you call, you talk to me or my assistant Toni who will schedule you for an appointment at the start of the case to design a bankruptcy or foreclosure defense that meets your goals. We spend time with you to make sure you obtain these goals. We do less than 20 cases per month to give each case the attention that is needed.
Some people already know whether they want a Chapter 7 or 13 and may only need a single appointment to prepare your petition. But we often schedule a second two hour session where I prepare the petition. At each session, you meet with me. I am an experienced attorney with a background in accounting and finance. Your financial future deserves more than planning it with a 20 dollar per hour paralegal who has less than the financial knowledge of a certified accountant or lawyer who sat for . In some offices, your petition may not even be prepared by a paralegal.
We help debtors qualify for Chapter 7 unless they need Chapter 13
There are different purposes for Chapter 13 and Chapter 7. We search for the expenses that allow you to file as a Chapter 7 if that is best in your case. Chapter 7 is cheaper and quicker than Chapter 13, and over 90% of clients qualify for a Chapter 7. If you have too much equity in your home or other property, the safe route is to file as a Chapter 13.
Filing as a Chapter 13 may be your only option if you have filed a Chapter 7 within the prior eight years or need to protect a co-signer. Chapter 13 allows you to cure a foreclosure. If your income is too high, you may be forced to file as a Chapter. However, filing a case as Chapter 13 makes the office a minimum fee of $4100 and far more profit. In addition, Chapter 13 cases that repay less than 100% have to file an annual budget and turn over any tax refunds for five years in Western Kentucky. The average cost for a Chapter 7 nationwide is $1400 for a single filer and $1600 for a joint petition. If you suspect the only reason your case is being filed as a Chapter 13 is to make more money for the office, get a second opinion. I give attention to every bankruptcy petition and foreclosure case at every stage.
Our qualifications as Louisville's Bankruptcy & Foreclosure Lawyer
Our office has over 70 five-star reviews on Avvo from other bankruptcy lawyers nationwide and clients with a five-of-five stars rating. Over 30 attorneys recommend our office as the lawyer to go to on Avvo.
On Findlaw, Justia, and Google, there are over 50 five-star rating reviews from Kentucky clients. Nick has received the Three Best Rated award for five consecutive years since 2016 as one of the top three best-rated consumer bankruptcy and foreclosure attorneys in Kentucky.
A Top Rated Kentucky Bankruptcy & Foreclosure Attorney
I accepted a position as an assistant attorney general and prosecutor in the state tax department and before the US Tax Court with license #51 in 1988. I have practiced bankruptcy and foreclosure defense in Kentucky since 1991. I have over 33 years of practical yet innovative experience dealing with foreclosure, bankruptcy, and tax cases.
In 2020, our office filed the first Chapter 11 Small Business Reorganization Act (SBRA) case in Kentucky for a family-run business. We teach classes to attorneys on how to defend foreclosures and file bankruptcy for NBI and Lorman. We bankrupt the burdensome debts like income taxes and manage student loans in bankruptcy. Call 502-625-0905 today for the help you need with a foreclosure or bankruptcy.
Download the How to file Bankruptcy Manual
Three separate federal reserve bank studies agree that people who file for bankruptcy have higher credit scores and more net worth than those who don’t. These studies show not filing, filing too late, or using an inexperienced attorney costs you more time, property, and money.
For over 30 years, almost everyone who has come into my office recognizes bankruptcy is a financial decision, not an emotional one. The mistake people make is waiting too long to file for bankruptcy or using an incompetent attorney.
Debtors often don’t understand bankruptcy because they don’t do it every day. But, if you download my book, you will understand how bankruptcy works.
Here are some of the topics:
1. Planning to get the most benefit.
2. Avoid lawyers who put you into Chapter 13 to make higher fees.
3. How transferring, converting, or selling property correctly may allow you to keep the asset.
How Nick Can Help You
People who don’t file bankruptcy hurt themselves by living with poor credit. They pay more for homes, cars, insurance, and everyday items. People in default who do not file bankruptcy are unable to obtain credit at reasonable rates. And they are often unable to save for retirement or repay the debt because of higher rates and costs. “Federal Reserve Bank of New York.” Two Federal Reserve studies concluded filing bankruptcy created more wealth when petitions were well planned and prepared. Your can read here about how to file bankruptcy in general and here are the studies which show bankruptcy creates wealth.
Events like a divorce, death in the family, temporary disability or job loss happen. Even the best people can find themselves unable to cover mortgage payments. If you miss mortgage payments for two months or longer you go into foreclosure. With foreclosure, you face a simple financial decision to keep your home or let it go back. We help you properly go down one of two paths. Sometimes you need time to find a new home which may take months or even a year or two. You need to defend the foreclosure. Other times you just need to catch it up and file a Chapter 13. Read More on Foreclosure
A Chapter 13 Bankruptcy can do everything a Chapter 7 can – only better. It has tools to deal with a wider variety of problems a Chapter 7 can’t solve. Chapter 13 can cure a foreclosure over time and protect a cosigner. In some cases, it can strip away a second mortgage. It can ensure you don’t lose property. A Chapter 13 is often used to manage student loans, taxes and mortgages. Read More on Chapter 13
Chapter 7 bankruptcy is easy, quick and inexpensive – the process is over in just about four months, and no payments are made to the court. You don’t have to turn in an annual budget or ask permission later to sell or buy property. For people with average to small incomes and little or no equity in property Chapter 7 is often the way to file bankruptcy. You have to be wary of transferring property just before filing. But there are many reasons to choose chapter 7 over a 13. Read More about Chapter 7
Testimonials from Clients and Other Attorneys
Nick C. Thompson
Louisville Bankruptcy & Foreclosure Lawyer
The Attorney who educated Attorneys on how to file bankruptcy and defend foreclosures.
Why hire me? I have over 33+ years of experience in bankruptcy and foreclosure court. This includes over 4,000 Chapter 7 and Chapter 13 case cases, in addition to over 1,000 foreclosures I have defended. In 2021 we removed two second mortgages in foreclosure actions while mortgages were in forbearance.
While I am not a CPA, I trained and sat for the CPA exam. I am a former tax prosecutor and ran an accounting department of Keystop oil company. Accounting is not my passion. Instead, I am a lawyer who enjoys suing banks and debt collectors. I am also the author of manuals, audio productions, and videos on how to file bankruptcy, manage or discharge taxes and student loans in bankruptcy and defend foreclosure cases.