While creditors do not typically attend this Louisville Foreclosure Lawyer meeting, you will answer questions under oath from the Chapter 7 Trustee about your debts and property. Bankruptcy filers may retain non-exempt property in a Chapter 13 bankruptcy, but they pay creditors for its value during a 3-5 year repayment plan. Filers must pay either the value of their non-exempt property or their disposable income – whichever amount is greater. Filing bankruptcy stops most wage garnishments, the process could also save your job and ensure that you don’t lose all the assets that you’ve worked so hard to acquire.

Sometimes a client needs a form or people are online searching for the right form, so we freely supply this resource. For your convenience, at the bottom of this page, you will find links to other pages on this site with forms listed in their respective bankruptcy forms categories. After an accident, you can suffer long-lasting injuries, expensive medical bills, and lengthy recovery periods.

This notifies the creditors that they are to stop all collection efforts on the discharged debts. Upon filing Chapter 7 in Kentucky, the court will assign a bankruptcy trustee to your case. You’ll be provided with the trustee’s name and contact information in the court’s Notice of Chapter 7 Bankruptcy Case. This is the same document that tells you when and where your creditors’ meeting will take place.

Tara Jones, Tonya VanBenschoten and Susanne Christ are licensed to practice law in the States of Kentucky and Ohio. Jeffrey Casazza is licensed to practice law in the States of Kentucky, Ohio, and New Jersey. Shur Law has offices in Kentucky and Ohio and is structured under the laws of Ohio. Lastly, while this meeting sounds daunting, it’s generally very quick. [newline]It’s understandable to feel nervous before your meeting of creditors or at any point after you submit your bankruptcy petition.

Meanwhile, an example of an improper payment would be paying a friend or family member thousands of dollars, leaving you with nothing to pay to creditors. For many bankrupt people, attending a 341 meeting of creditors is generally a light at the end of the tunnel. This meeting may be intimidating, but it’s usually quick and painless, especially with a bankruptcy attorney at your side.

How To Stop Wage Garnishments?

Fortunately, if you find yourself in this situation, you’re in the right place. Schwartz Bankruptcy Law Center is here to help you get your life back. Hiring an experienced lawyer, gets you an attorney with experience. If you file your own Chapter 13, you typically pay the creditors more.

The bankruptcy system allows the creditors to orderly and equally share if there are any assets. Chapter 13, on the other hand, could save your home altogether. This chapter allows you to set up a payment plan rather than liquidating your assets to pay back your creditors. However, you must take a bankruptcy means test to see if you qualify.

When unsecured creditors receive notice of a bankruptcy discharge, they are to cease all collections activities on the discharged debt and write it off. Maybe you’re wondering, “How can I stop a wage garnishment immediately? ” Generally, filing bankruptcy will stop your wage garnishment.

Before you can file bankruptcy you must meet receive credit counseling from an approved credit counseling agency. Fortunately, O’Bryan Law Offices offers approved Kentucky credit counseling. Filing a Chapter 7 or a Chapter 13 bankruptcy places an automatic stay on your creditors. The stay keeps the creditor harassment at bay and stops further collection attempts on most of your debt. However, creditors may petition the court to lift the stay and allow the resumption of collection activity.

Chapter 7 Bankruptcy Timeline

But Chapter 7 bankruptcy can help you get rid of medical bills and credit card balances that would otherwise take up most of your disposable income. Bankruptcy is also able to provide some immediate relief to filers. Garnished wages can be devastating to an individual or family and often makes an already bad financial situation much worse.

If you file for Chapter 13 bankruptcy as a married couple, you both maintain responsibility for the three to five year repayment plan. If bankruptcy and divorce matters arise at similar times, you will likely have questions about obligations and what you can and cannot discharge in a bankruptcy. It is important to understand the differences between dischargeable and non-dischargeable debts or obligations.

In that case, you may be able to use Upsolve’s filing tool to complete your forms. You’ll fill out an online questionnaire, and our software generates the forms based on the information you provide. If you go to the low-cost course providers, you may have to wait for the certificate. In this section, we stress what not to do during your bankruptcy case. Doing any of the below actions might get you in trouble with the bankruptcy courts. When you’re facing bankruptcy, a criminal charge, a divorce, or a child custody dispute, your attorney needs to do more than represent you.

In Kentucky, the cost of a bankruptcy lawyer is around $1,100–$1,200. Bankruptcy attorneys usually charge a flat fee, rather than billing by the hour. If you’re concerned about whether your assets will be protected, hiring a bankruptcy attorney and getting legal advice may be a good investment.