Louisville KY Bankruptcy Attorney and Foreclosure Lawyer

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YEARS IN PRACTICE
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CHAPTER 7 & 13 CASES
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FORECLOSURE CASES

A Louisville KY Bankruptcy Attorney Who Stops Lawsuits and Garnishments

A Louisville Foreclosure Lawyer Who helps you avoid Foreclosures

A properly prepared Bankruptcy can increase your net worth and improve your credit score.  

We have been Helping People Save Homes and Businesses for 30+ Years with Emergency Filings Available

We take less than 20 cases each month to give each client personal attention by the head of the firm.

How to Quickly and Easily File Bankruptcy

First, gather documents every debtor must provide to the Court.  Trustees look for hidden assets, income, & transfers in the documents.  

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 prepared clients can file for 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.

Make the appointment. You can meet with Nick first about specific problems before you sit down to prepare your petition. Some people prefer to make one trip. Our Manual and website also explain how to get the most benefits.

What makes filing Chapter 7 or 13 with Nick Thompson better?

You pay a bankruptcy attorney to prepare a petition, but at other offices, you are often handed off to a secretary or paralegal. I always personally prepare your bankruptcy or foreclosure defense. You are never passed off to a paralegal or inexperienced lawyer at our office. 

When you call our law firm, 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 ensure you obtain these goals and get debt relief. We do less than 20 cases per month to give each case the needed attention.

At our law office, the head of the firm prepares your case.

Some people already know which Chapter of the bankruptcy law they must file and whether they want a Chapter 7 bankruptcy or Chapter 13 Bankruptcy. Only a single appointment is needed to prepare petitions for these clients. But we often schedule a first session to learn their situation and prepare a strategy and a second two-hour session where I prepare the petition.  

At each session, you meet with me. I am an experienced Louisville, KY, bankruptcy attorney with a background in accounting and finance. Your debt relief and financial future deserves more than planning it with a 25-dollar-per-hour paralegal who has less than the financial knowledge of a lawyer who has taken the CPA exam. In some offices, your petition may not even be prepared by a paralegal.

There are other debt-relief options available. Explore them before deciding to enroll yourself in the bankruptcy process. Whether you have a large amount of credit card debt or want to stop home foreclosure, you need the assistance of a compassionate and dedicated bankruptcy lawyer. Our firm handles all of Kentucky.

A Louisville bankruptcy attorney who helps debtors qualify for Chapter 7 Bankruptcy unless they need Chapter 13 Bankruptcy

There are different purposes for Chapter 13 bankruptcy and Chapter 7 bankruptcy. We search for reasonable and necessary expenses that allow you to file for Chapter 7 bankruptcy if it is best for you. Chapter 7 is a cheaper and quicker bankruptcy code solution than Chapter 13. Chapter 13 is a debt repayment plan to stabilize and manage your financial situation. Over 90% of our clients qualify for a Chapter 7 if that is what they need.   

Filing under the Chapter 13 bankruptcy law may be your only option if you have filed a Chapter 7 within the prior eight years or you have too much income or equity in a property.   Chapter 13 allows you to cure a foreclosure. If your income is too high, you may be forced to file as a Chapter 13.   However, filing a case as a Chapter 13 typically makes the law office a minimum fee of $4100. Get a second opinion if you suspect the only reason your case is being filed as a Chapter 13 is to make the attorney more money. 

In addition, Chapter 13 cases that repay less than 100% must 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. I give my attention to every bankruptcy petition and foreclosure case.

Louisville Bankruptcy Attorney
Rated A+

Our qualifications as your Louisville bankruptcy law firm or 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 60 five-star reviews from Kentucky clients. Nick has received the Three Best Rated award for six consecutive years, from 2016 to 2022, as one of the top three best-rated consumer Louisville bankruptcy attorneys and foreclosure lawyers in Louisville, KY.

A Top Rated Kentucky Bankruptcy & Foreclosure Attorney

At the start of my career, I accepted a position as an assistant attorney general and prosecutor in the state tax department and practiced before the US Tax Court with license #51 in 1988.  I have practiced bankruptcy and foreclosure defense in Kentucky since 1991. I have over 34 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 bankruptcy attorneys on how to defend foreclosures and file bankruptcy for NBI and Lorman.  As a Louisville KY Bankruptcy Attorney and Foreclosure Lawyer, we manage difficult debts like income taxes, foreclosures, and student loans.  Call 502-625-0905 today for the free consultation you need with a foreclosure or if you are interested in bankruptcy relief and debt relief options.

Avvo's Top Foreclosure & Bankruptcy Lawyer 2013-2022
70+ Reviews 10.0 Rating Google 5 Star

6 straight years in the top 3 for  foreclosure and consumer bankruptcy attorneys from 2016 to 2022

Three separate federal reserve bank studies agree 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 or law firm costs you more time, property, and money.

For over 30 years, almost everyone who has come into my office recognizes bankruptcy as a financial decision, not an emotional one.  For those who are facing financial instability, bankruptcy can provide debt relief. 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.

This is a financial decision to provide for yourself and your family instead of creditors.  There is no shame if you are in need of debt relief. I am a knowledgeable and experienced bankruptcy lawyer who practices bankruptcy law to help you in all legal matters. Feel free to contact me anytime for a free consultation.

Louisville Kentucky's Bankruptcy and Foreclosure Attorney

Some Topics:

1. How to manage foreclosures in a bankruptcy.

2. How to bankrupt income taxes. 

3. How to manage student loans in bankruptcy.

4. Filing for a small business.

5. How to Value and Keep property.

6. How to strip a lien or second mortgage.

How Nick Can Help You in Bankruptcy Filings

If your Fico Score is 625 or below, our bankruptcy services usually increase your FICO score.

People who don’t file for 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 for bankruptcy are unable to obtain credit at reasonable interest rates. They often cannot save for retirement or repay the debt because of higher rates and costs. The “Federal Reserve Bank of New York.” and two other Federal Reserve studies concluded filing bankruptcy created more wealth when petitions were well planned and prepared. You can read here about how to file bankruptcy in general, and here are the studies which show bankruptcy creates wealth.

Bankruptcy and litigating a foreclosure can allow you a mortgage modification, additional time in the home, time to catch up on a mortgage, or time to sell the home.

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 a 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 need to catch up on the mortgage and file Chapter 13 to cure the default. 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 that Chapter 7 can’t solve. Chapter 13 can cure a foreclosure over time and protect a co-signer. In some cases, it can strip away a second mortgage. It can ensure you don’t lose property and is the safe way to file. Chapter 13 is often used to manage student loans, taxes, and mortgages. Read More on Chapter 13 

Wealthy and educated people use bankruptcy as a financial tool to increase their net worth.

Chapter 7 bankruptcy is easy, quick, and inexpensive – the process is over in about four months, and no payments are made to the court. You don’t have to submit an annual budget or ask permission later to sell or buy property. Chapter 7 is for people with average to small incomes and little or no equity in the property. Chapter 7 is the most common way to file for bankruptcy. You have to be wary of transferring property just before filing. But there are many reasons to choose chapter 7 over 13. Read More about Chapter 7

Consider Your Financial Situation Before Filing for Bankruptcy!

Many people often delay filing bankruptcy cases because they think they are not eligible. It would help if you analyze your financial status by asking yourself these questions to know where you stand:

  • Are you being garnished or being threatened with collection lawsuits?
  • Are you unable to borrow at reasonable interest rates?
  • Are you receiving calls from debt collectors continuously?
  • Are credit cards and lenders charging ridiculous late fees?
  • Is dealing with finances and debt frightening or out of control?
  • Are you using your credit card to purchase necessities?

If the answers to these questions are that you are in trouble, it is the right time for you to contact the Professional Louisville KY Bankruptcy Lawyer to get debt relief quickly. Get a free consultation to explore your available options. 

Testimonials from Clients and Other Louisville KY Bankruptcy Lawyers

“I have known Nick Thompson for at least 15 years. In that time I have seen his legal services and his practice of law evolve into that of the most knowledgeable and caring consumer bankruptcy lawyer I know. If you have a bankruptcy law question, or are faced with a foreclosure crisis of your own, Nick is your answer. Period. There isn’t any debt relief agency better in the state for filing bankruptcy, in my opinion.”
Louisville Bankruptcy Attorney
Ronald Burdge
Ohio Lemon Auto Attorney
“Nick Thompson is one of those rare individuals that will go out of his way to make sure you are getting the very best legal services and support when you’re using his Firm. I’ve know him for several years now and am also a client. He did a great job for me and solved some big problems. I am very grateful for all his help. Undoubtedly, he is one of the best ky bankruptcy lawyers to handle legal issues. I would recommend him, without question, to any of my closest friends and relatives.”
Louisville Foreclosure Attorney
Donald Gaw
D. Gaw Partners CPA, LLC
bankruptcy attorney

Nick C. Thompson

Louisville Ky Bankruptcy Attorney & Foreclosure Lawyer

The Attorney who educated Attorneys on how to file bankruptcy and defend foreclosures.s”

Why hire me? I have over 34+ years of experience in bankruptcy and foreclosure court since 1988. This includes over 5,000 Chapter 7 and Chapter 13 case cases and over 1,000 foreclosures I have defended. In 2021 we removed two-second mortgages in foreclosure actions while mortgages were in forbearance. We have taught boot camps to other attorneys on how to defend against foreclosures and bankrupt problem debts such as taxes and student loans. 

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 for 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 filing bankruptcy, managing or discharging taxes and student loans in bankruptcy cases, and handling legal issues in defending foreclosures.