How to Easily and Quickly File Bankruptcy in Kentucky

If you just file your bankruptcy without understanding how to file bankruptcy, it may be a costly error that makes your creditors and attorney richer.  Filing can be quick and easy.  If you need to file immediately, it will take about 8 hours.

  1. Two hours or less to gather the documents,
  2. 2 hours or less to fill out an intake
  3. Two hours to do the required credit counseling class and
  4. 2 hours or less to prepare the petition.

Easily and Quickly File Bankruptcy in Kentucky but file it right

When you spend a little time learning how to file bankruptcy in Kentucky, your Chapter 7 or 13  will be cheaper, quicker, and less trouble.   When you know how to file bankruptcy, your credit will recover faster, and some of our clients had 720 credit scores within a year after filing.  If it is done right, you will discharge more debt and keep more property.   You may be able to modify a mortgage or auto loan.  Some loans like a second mortgage or home improvement may not need to be paid back at all after filing.  This does not get done by using an attorney or paralegal who is still learning how to prepare petitions.

You can easily and quickly file bankruptcy in four simple steps.  But filing is just the beginning.  We keep you on track by sending out emails every few weeks, reminding you of the tasks we need to do together to complete your Chapter 7 or 13.   I explain bankruptcy to you in an initial interview with you and while we prepare the petition.  I only file 12-20 cases per month, so I can personally file your petition.  The four steps all take about 2 hours per step to complete.   Explaining bankruptcy to you is something some offices fail to do.  We never hand you over to a paralegal or secretary when it comes to preparing the petition with you.  These are the necessary items you need to do to get your case filed:

Documents needed to file a Chapter 7 or 13 bankruptcy.

The bankruptcy judge and the trustee believe most of what people testify to.  However, they will still verify your income, expenses, and property before they give you the discharge.  To file bankruptcy, it isn’t enough for you to claim you only make $4,000 per month.   They want to see your pay stubs and taxes to verify your average income and expenses.  The documents which are required by them must be organized, scanned in as a pdf document, and then sent to them.

Here is our Bankruptcy checklist of the required documents.   We cannot file any bankruptcy without these documents in our hands.  The failure to produce the documents to the trustee within a few days after filing the bankruptcy can cause the bankruptcy to be dismissed.

Required bankruptcy counseling for consumers.

Since 2005 every debtor has been required to take a Credit Counseling class before the case is filed.  A second debtor education class is required after filing to get a discharge. These are three places we suggest you go to to get these classes.

    1. bkcert.com You can do both classes here. My favorite they get the certificate to us fast if we need it immediately and they speak English.  About 40 dollars answered by phone and online completion.  Phones are usually answered by the second ring.  They tend to be open 24/7, and they have Spanish or English instruction. 1-866-859-7323
    2. startfreshtoday.com/Lit, Our second choice for both classes, closes about 9 pm Open Mon-Sat.   Phone and online counseling.  Again about 40 dollars.  866-662-4932
    3. https://www.prebk.com/.  Cheapest place for the required post-filing credit counseling.  This class is 2 hours long and only online—about 10 dollars per person.

Our easy online Bankruptcy intake

Every office has an intake to complete.  Our office has an online intake where you can sit with your computer at home and completely list your assets, debts, income, and expenses.  Doing the intake at home lets you take your time to look up the addresses for the debts.  You can do it at 1 am if you want.  You are not rushed in a law office to complete it.  I think online completion of the intake is far better. You get to do it in the comfort of your own home.

A bankruptcy petition is mostly a budget and listing of assets and liabilities.   Our online bankruptcy intake is here, and it should not take over 1-2 hours to complete.   After you gather your documents and input your client intake online, you should be ready to come in and prepare the petition with Nick.   Simply make an appointment (with my Assistant 625-0903) to come in and file.  We can prepare the petition without the first class, but we must have the certificate from the course to file the petition.

Filing out the intake may be easier if you get a free credit report from annualcreditreport.com to gather the information about your debts to prepare your bankruptcy. Usually, your credit report will have the addresses for the debts. You may guess the amounts, but we must have accurate addresses.

Things to do Post Filing

Understanding how to file bankruptcy will help you get the most out of your bankruptcy.  This is our short 80-page Bankruptcy manual, which takes about 3-4 hours to read.   It explains step by step how to defend a foreclosure, discharge income taxes, and manage your student loans.   The bankruptcy will go far more smoothly, and items will get done on time if you understand the process and how to deal with servicers better.  Servicers work for mortgage, auto, and student lenders.   They earn a percentage from collecting any late fees and servicing the loan.  They have an incentive to keep payments high.

You may need to modify, consolidate, or rehabilitate your student loans.  Most people will not be able to discharge their student loans.  But from 500 – 1000 people every year do qualify to discharge their student loans by getting an undue hardship discharge. Most rehabilitation or consolidation of their student loans into an IBR will cure most problems for government student loans.  For private student loans, you may have to simply not pay them until the statute of limitations has run.  If private loans sue, you see us.

More things to do post filing

If you have a judicial lien or a secured mortgage, there are some things you should consider.  We can often strip off a judicial lien during bankruptcy, but there is a separate charge for the added work, and we need information from you.   If you are keeping a home or auto, you will probably want to file a reaffirmation or redemption. If you don’t know what that is, you may want to look at our page on reaffirmation and redemption.  Timing the bankruptcy is also essential if you’re going to discharge income tax debts.  And while a Chapter 7 may delay a foreclosure, it usually takes a Chapter 13 to cure a mortgage default.   Planning your bankruptcy allows everything to go much more smoothly and will enable you to keep more property and discharge more debt.

Additional Bankruptcy educational material

Our 60-Minute How to file for Bankruptcy audio is a dramatized first interview answering typical foreclosure and bankruptcy questions. It was done with a former president of the mortgage banker’s association pretending to be the client.

This is a timeline for a Chapter 7 or 13 Bankruptcy.  This is a timeline for a Foreclosure.

Bookmark our Bankruptcy website; don’t lose it!  You will need this information later, and it is updated. This information is educational, not legal advice.  If you have specific Chapter 7 or 13 bankruptcy questions, ask your attorney or contact us about being your lawyer!  Nick has been accepting bankruptcy, debt defense, and foreclosure cases since 1988 for over 30 years. We are happy to explain how to easily and quickly file bankruptcy in Kentucky to you.

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