Bankruptcy Overview Bankruptcy gives individuals and businesses a fresh start by eliminating or restructuring their budgets and debts. There are five types of bankruptcy, but consumers primarily file Chapter 7 and Chapter 13. A sample of a 2015 budget is below, but remember to always use your actual expenses in your budget. People often forget…
Adversary proceedings are when you need to continue to fight it out in bankruptcy court with the results affecting your bankruptcy. This happens when you file bankruptcy while either you or a creditor might also need to file a lawsuit to have a bankruptcy judge determine the results. In this scenario, you and the creditor…
You may be able to keep an inheritance in bankruptcy or funds from a lawsuit if you know how to exempt it or if you know how to time the filing of your bankruptcy according to the bankruptcy code. Whether you file for Chapter 7 or Chapter 13 bankruptcy also determines whether or not you…
The price to file for bankruptcy in Kentucky for Chapter 7 is $338, and for Chapter 13, it is $313. Still, the answer to this question becomes more nuanced if you decide whether to file for bankruptcy with an attorney or try to waive the filing fees. A person already finding it challenging to…
Do you want to know how to strip a Kentucky Mechanics Lien? Interestingly, mechanics’ liens are similar to junior mortgages in bankruptcy. It is difficult to impossible to strip a statutory lien like a judgment lien. However, for a Kentucky mechanics’ lien to be valid, the person filing the mechanic’s lien must take the proper…
The 2020 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 until 2019. There has been no substantial increase in 10 years. In 2019 these fees increased nationwide to about $1,400…