If you face overwhelming credit card debt or medical bills, or are experiencing severe financial problems because of divorce or the loss of your job, a Chapter 7 bankruptcy filing can help you get a fresh start. In a Chapter 7 proceeding, you are allowed to permanently discharge certain debts in exchange for the sale of non-exempt assets. In the majority of cases, our client’s assets are entirely exempt and are not subject to sale by the bankruptcy estate. Under the recent revisions to the bankruptcy law, however, not everyone can qualify for Chapter 7 protection. You want an experienced lawyer to guide you through the process, one who knows the law and has helped others in similar circumstances. At Lawrence & Associates, we understand the stress and difficulty that comes with financial problems and take the time to carefully explain your options. We will work closely with you to develop a strategy tailored to your unique situation.
Experienced Chapter 7 Bankruptcy Attorneys
When you hire us to help you with your financial challenges, our first step will be to determine whether you are eligible for protection under Chapter 7. The 2005 revisions to the bankruptcy laws require that, to qualify to discharge debts under Chapter 7, you must submit to a “means test,” demonstrating to the court that you lack the means to repay your creditors in a Chapter 13 proceeding. We will conduct a means test and, if you qualify, we will prepare and file all documents required to complete the Chapter 7 process. We will carefully explain which debts can be eliminated, as well as which assets you can protect, so that you get the benefit you deserve.
Once you file for protection, an automatic stay goes into effect, preventing your creditors from calling, writing or taking any other legal action to collect the debt. A Chapter 7 bankruptcy petition can also stop foreclosure proceedings, wage garnishments and repossession actions. With the help of a lawyer, in Kentucky, a Chapter 7 bankruptcy proceeding can generally be completed in 3 to 5 months.
Our Bankruptcy Explained Series
- Credit Card Purchases: Why Calculating Interest Is the Most Important Step You’ll Ever Take - 08-19-2016
- Understanding the Rights a Mortgage Company Has After Bankruptcy - 07-18-2016
- The Injured Plaintiff’s Bankruptcy — Pitfalls for the Civil Litigator - 06-24-2016
- What are the effects on my spouse if I file bankruptcy? - 06-09-2016
- How Long Do I Have to Wait Between Bankruptcies? - 06-06-2016
- How does filing bankruptcy affect my credit score? - 05-26-2016
- The Dangers of Taking Out Debt Before Filing Bankruptcy - 05-20-2016
- How Much Will Your Payments Be in a Chapter 13 Bankruptcy? - 04-25-2016
- Two Steps to Preserve a Claim When a Tortfeasor Files a Bankruptcy - 04-14-2016
- The Difference Between Chapter 7 and Chapter 13 Bankruptcy - 04-12-2016
- How to Stop a Car Repossession by Filing for Bankruptcy - 04-05-2016
- Bankruptcy Can Stop Wage Garnishments and May Offer Refunds - 03-27-2016
- You Can Beat a Northern Kentucky Foreclosure - 03-25-2016
- How to Protect Your Tax Refund When You File Bankruptcy - 03-21-2016
- Keep Your Home When You File for Bankruptcy - 03-14-2016
- How Can I Stop My Car From Getting Repossessed? - 02-25-2016
- What’s the difference between a Chapter 7 bankruptcy and a Chapter 13 bankruptcy? - 01-25-2016
- You Can Protect Your Tax Refund in Bankruptcy - 01-20-2016
- Why Might You Have To File a Chapter 11 Bankruptcy Rather Than a Chapter 13? - 11-10-2015
- A Debt Collector Threatened Me with Fraud and Jail. Can They Do That? - 10-13-2015
More About Us
Contact Us for a Free Consultation! Call 859-371-5997 in KY or 513-351-5997 in OH.