In a Chapter 13 bankruptcy filing, debtors often Louisville Bankruptcy Attorney wait 3-5 years to receive their discharge. Our free tool has helped 16,185+ families file bankruptcy on their own. We’re funded by Harvard University and will never ask you for a credit card or payment.

Most mortgage creditors won’t consider you for mortgages in the future if your credit report shows a foreclosure. Although you’ll receive a blow to your credit, you’ll rebuild good credit sooner because you will be debt free. Deciding over whether or not bankruptcy is the best option for you is not an easy one. That’s why consulting with an experienced bankruptcy attorney can help you make the right decision for your unique financial situation.

Filing for Chapter 13 bankruptcy protection may allow a person to keep their home, car, or other valuables while paying off their debts. Reorganization bankruptcy filers generally make payments over three to five years, depending on their discretionary income. Any remaining debt balances after the payback term has ended may be dismissed.

How To Stop Wage Garnishments?

Each year Premier Bankruptcy Lawyers (PBL) researches and recommends leading bankruptcy lawyers across the United States. PBL lists only one attorney and firm in each city and inclusion to the guide is by invitation only. Wallace has worked in bankruptcy law for over 25 years–helping people get relief from the burden of debt and find peace of mind. He has been recognized as one of Louisville’s top lawyers in Louisville magazine in 2008, 2009, 2011, and 2012. The situations that lead people to file for bankruptcy are often tough.

You don’t need to suffer alone through the stress of increasing debt pressure. Our firm combines an in-depth understanding of bankruptcy law and strategy with individualized, compassionate client service. Chapter 7 bankruptcy is only available to people who have been determined by the court to be unable to repay their debts.

Amendments To The Bankruptcy Code Impact Lessors Post Covid-19

Banks that sue homeowners following a foreclosure are included in this category. They receive a judgment against the individual if they win in court. As a result of the ruling, they are now able to get a garnishment order. At O’Bryan Law Offices, we can help you achieve debt relief in Kentucky and Indiana, as well as handle garnished wages without notification. Once you establish an attorney-client relationship with us, we can offer a free evaluation of your case. This means we don’t accept a cent from you during your initial consultation.

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Additionally, we may be able to recover some of the funds that may have been taken. If you’re looking to stop wage garnishments in their tracks or achieve debt relief, O’Bryan Law Offices is here for you. Many people envision bankruptcy to be the worst financial decision you could ever make. However, there are many situations in which it’s actually the best possible option. The laws surrounding bankruptcy exist specifically to help consumers overcome crippling debt.

In 2006 most attorneys who were filing bankruptcy cases quit because it became so complicated. So, if attorneys can’t typically file Chapter 13 bankruptcy petitions, why do some people think they can use a cheap attorney or file a petition themselves? But you are taking a huge chance if you have assets or have filed repeatedly or after transferring property. If you make regular payments on your car loan, the lien will never come into play.

What tends to differ the most is what each state lists as its bankruptcy exemptions. Also, some states allow you to choose between state and federal exemptions, while others do not. I often get concerned questions that all start with “What If.”  What if my car dies? Your repayment plan can be modified according to the situation.

Chapter 12 has the benefit of allowing debtors to “cram down” secured debt such as farm mortgages and boat loans. The worth of the security offered for the loan must be paid to lenders and other secured lenders. Any sum outstanding in excess of the collateral’s value is considered unsecured debt, and in Chapter 12 cases, it is generally paid very little. Secured loan payments can be deferred even beyond the plan’s duration, and interests can be cut to a market price.