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Steps To Take Before, During, and After a Bankruptcy To Reduce The Impact On Your Credit

Many people wonder how they can protect their credit during a bankruptcy. There are actually several steps you can take before, during, and after a bankruptcy to help reduce the bankruptcy’s impact on your credit to the greatest extent possible. The Fort Mitchell, Kentucky offices of Lawrence & … [Read more...]

Illness and Overwhelming Medical Bills Send Many into Bankruptcy

According to a 2007 study, 62.1% of all bankruptcies have a medical cause and the share of bankruptcies attributable to medical problems rose by 50% between 2001 and 2007. [1] Moreover, a recent article in Forbes highlighted one woman’s story of illness and mounting debt and stated that overwhelming … [Read more...]

A Fresh Take on Bankruptcy: Filing for Bankruptcy Can Benefit Individuals, Companies and Society

The Webster Dictionary defines bankruptcy as the quality or state of being bankrupt or the utter failure or impoverishment. Although the definition of bankruptcy gives off a negative connotation, it doesn’t have to. Filing for bankruptcy can benefit individuals, companies and society as a whole. A … [Read more...]

Bankruptcy Explained: Can Debt Consolidation Protect Me from Creditors?

A consolidation or “workout” is an attempt to modify one or multiple debts without the need for bankruptcy, usually through a debt consolidation agency. The main issue with a workout is that most debt consolidation companies don’t provide local creditors with a contract that enforces the … [Read more...]

Bankruptcy Explained: Understanding Property Exemptions – Keeping Your House and Car

If you file a Chapter 13 Bankruptcy, you can always keep your property. If you file a Chapter 7 Bankruptcy, the United States bankruptcy code allows you to keep your house, keep your car, and keep your property so long as your equity in that property is below certain thresholds at the time the … [Read more...]

Bankruptcy Explained: What Actions Can a Creditor Legally Take to Collect A Debt?

A good bankruptcy attorney can protect you from abusive and threatening creditors. Creditors are notorious for using threats, intimidation tactics and false information in order to scare debtors into making payments. The truth is, regardless of your ability to pay, or what a creditor may claim, … [Read more...]