We want persons who have filed bankruptcy to have free access to Dave Ramsey’s financial peace university training. This is the edition for persons who have filed bankruptcy. You can also download a free copy of our book which explains how to get the most benefit from bankruptcy when you file. This may be eventually canceled…
Chapter 7 Bankruptcy Benefits Louisville Kentucky One of the basic Chapter 7 Bankruptcy Benefits is a federal court order. When you file a Chapter 7, an “automatic stay” is put into place. Chapter 7 puts a stop to all collections attempts, lawsuits, wage garnishments, and other forms of contact from creditors. It is so effective I have people…
First, I am going to share with you the wrong way to pay for attorney fees in a Chapter 7 Bankruptcy. Paying attorney fees in a Chapter 7 bankruptcy after the case is filed is not allowed by the bankruptcy court. Here is a 56 minute February 2015 audio of a judge hauling both the attorney and clients…
The 2018 average wage for a worker in Kentucky is about 44,000 dollars per year. The average Chapter 7 bankruptcy attorney fee in Louisville Kentucky ran 1200 for a single and 1400 for a couple in 2017. There had been no substantial increase in 4 years. In 2018 they increased to 1400 and 1600 dollars. Nationwide the…
If you file a Chapter 7 you will normally go to court for just a short 5 minute hearing called the 341 hearing. If your petition is clear, accurate and supported by documentation the hearing should be very short and only last 5 minutes or less. A Chapter 7 trustee will conduct the hearing to…
Bankruptcy is normally voluntary – unless you have hidden assets or filed somehow in bad faith. You normally have the right to dismiss your Chapter 13 bankruptcy case or convert from one bankruptcy chapter to another. It is easy to convert from Chapter 13 to a Chapter 7 normally, and there can be benefits to converting from a Chapter 7 to a…
If you wish to redeem your auto loan and keep your car in a Chapter 7 bankruptcy you will have to pay the replacement value for your car, truck, boat or motorcycle. Redemption can only be done in a Chapter 7 bankruptcy, and officially you must offer replacement (retail value). However, private party or trade in values…
There are Bankruptcy Filing Limitations which require you to wait until your next discharge. There are also other limitations. You can file a Chapter 13 the day after your Chapter 7 case closes but you will not get a discharge in the second Chapter 13 case. You cannot file a Chapter 7 until 8 years after the…
To qualify for a Chapter 7 bankruptcy in Kentucky, an individual must pass the means test. This test has two parts. You automatically qualify if your income is below the average income for your household and family size. You can also qualify if your reasonable and allowed expenses deducted from your income does not leave anything…
