Lanna Martin Kilgore, PLLC
Always ReadY, Always There.
Call Today to Schedule a Consultation 270.846.3700 This is an Advertisement

Frequently Asked Questions About Kentucky Bankruptcy Laws

Answers from an experienced Bowling Green debt relief attorney

Bankruptcy is often a last-resort decision that comes with feelings of doubt, fear and confusion. If handled correctly, however, it often can give you back the financial freedom you have sorely lacked — and peace of mind from nagging creditors and collection agencies.

If you are considering filing for Chapter 7 bankruptcy, increase your chances of a favorable outcome by contacting a debt relief lawyer in Bowling Green who knows the system inside and out. Lanna Martin Kilgore has decades of winning legal experience and knows how to alleviate your stress by getting results you want in challenging bankruptcy cases. She can answer all of your questions, including the ones below.

Call today for a private consultation with an informed bankruptcy lawyer in Bowling Green

If you believe Chapter 7 bankruptcy is an option for you, we can help. Contact Bowling Green bankruptcy attorney Lanna Martin Kilgore online or call 270.846.3700. We represent clients all over Kentucky, including Butler, Allen, Logan, Edmonton, Simpson and Todd counties.

What is the difference between secured and unsecured debt?

Secured debt is generally a claim secured by a type of property, an agreement or involuntarily with a court judgment or taxes. Creditors can claim the property — and take it to pay off debt — when you file for bankruptcy. A mortgage, for example, is a secured debt on your property. Unsecured debt, on the other hand, is not tied to property. In this case, creditors cannot claim it if you file for bankruptcy.

Back to top

Can I file a Chapter 7 bankruptcy myself?

You can, but steering through the bankruptcy codes and procedures can be an extremely difficult and confusing process without proper bankruptcy advice. While you may receive a discharge, you also may unnecessarily give up property that you could have kept, had you been advised by a lawyer experienced and knowledgeable in federal bankruptcy laws. You can also make an honest mistake that could result in dismissal of your case. Filing for bankruptcy by yourself is strongly discouraged.

Back to top

If a credit card company is suing me, can bankruptcy help me?

Yes. Credit card debts are unsecured debts normally dischargeable in bankruptcy. In this case, it is vital to contact a Bowling Green debt relief lawyer immediately upon receiving the complaint. There are strict deadlines for answering these complaints before the credit card firm enters a default judgment against you, which is when they can move to garnish your wages or put a lien on your property. For more information on debt relief in Bowling Green, call our Chapter 7 bankruptcy attorney in Bowling Green at 270.846.3700 or contact us online. We can make this process less stressful for you.

Back to top

Does my employer have to know I am filing a Chapter 7 bankruptcy?

The bankruptcy trustee will request that you provide copies of several documents, such as your tax returns and bank statements. One of these items will be copies of your pay stubs before filing. If you refuse to provide this information, then the trustee may send a form to your employer seeking information about your wages. Therefore, no, your employer will not know about your pending bankruptcy filing as long as you comply with the trustee’s requests.

Back to top

How long does a bankruptcy stay on my credit report?

A bankruptcy generally remains on your credit reports between 7 and 10 years — and you cannot do anything to remove it. You can, however, file an explanation with the credit reporting agencies describing the events surrounding your bankruptcy. In addition, if an account report is incorrect, you can request to update the record to reflect the correct information.

Back to top

Share This Page:
Contact Form Tab