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TYPES OF BANKRUPTCY AND NON-BANKRUPTCY OPTIONS
Chapter 7 Chapter 7 is designed for debtors who are having financial difficulties and are not able to repay their debts. If your current monthly income is above the State Median income you will be required to perform a Means Test to determine if you are eligible for...
If a debtor is behind in house or payments, can filing Chapter 7 bankruptcy stop a foreclosure or repossession from taking place?
Whenever any bankruptcy case is filed, the creditors are usually stopped from taking action to collect the debts that were owed at the time of the bankruptcy. This feature of bankruptcy is called the "automatic stay." The automatic stay, if it applies, stops a...
Do all of your creditors have to be listed in your bankruptcy papers ?
Yes. All of the debts have to be scheduled, with the name and address of the creditors. This is so that they can receive notice of the bankruptcy, and get their fair share of any money that is paid to creditors. Sometimes debtors think that they should omit a creditor...
Words of Wisdom from Rising Above's John O'Leary
"There are only two ways to live your life. One is as though nothing is a miracle. The other is as though everything is a miracle.” Einstein While facilitating a leadership session yesterday in Lubbock, TX for UMC Health Systems, numerous individuals shared their own...
Happy Halloween ! From John Rogers, Attorney at Law
On behalf of all of us here at Kentucky Bankruptcy Attorney John Rogers, Attorney at Law, have fun and be safe out there trick or treating or other Halloween festivities you may be attending ! Happy Halloween ! photo credit: stevendepolo via photopin cc
Happy Halloween ! … beware of Zombie Debt Collectors !
The collection of old debt that has past the statute of limitations for legal collection by law through collection letters, calls or lawsuits has often been called zombie debt. It is called that because the unsuspecting debtor that may have owed the debt at one time,...