Bankruptcy

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CHAPTER 7 BANKRUPTCY

Chapter 7 bankruptcy relief via discharge is available once every eight years. The Chapter 7 entitles you to receive a discharge (wipe out the debts) of all dischargeable debts, such as charge cards, medical bills, unsecured bank loans, car loans, deficiency balances after sale of collateral on secured debts are some of the more common examples of debts that can be wiped out by a Chapter 7 filing.
There are a few type debts that commonly will not discharge in a Chapter 7- such as –child support, maintenance (alimony), recent tax debts, federally backed government student loans are examples of debts that do not discharge in a Chapter 7 bankruptcy.
An attorney will meet with you to evaluate your case and answer any questions you may have. Feel free to complete the client questionnaire to the best of your ability and bring it to your appointment.

CHAPTER 7 FEES

1. The Bankruptcy Court has a filing fee of $335.00 to file a Chapter 7.
2. The Attorney fees payable to our office are $980.00

PAYMENT PLAN AVAILABLE

To ease the financial burden, our office can split the Chapter 7 fees into three payments.
Feel free to telephone us at (270) 685.5586 to discuss our payment plan

CHAPTER 13 BANKRUPTCY

A Chapter 13 Bankruptcy is a reorganization Bankruptcy that allows individuals to propose a Chapter 13 plan to allow repayment individuals debts (either in full or partial ) over a plan period of up to sixty months. While the Chapter 13 plan involves more expense than a chapter 7 Bankruptcy and requires monthly plan payments to the Bankruptcy Trustee usually by wage assignment, there are often valid reasons why a individual may select a Chapter 13 Bankruptcy. Some of those potential reasons include:
1). To stop a home foreclosure.
2). The individuals might only qualify for a Chapter 13- due to a recent Chapter 7 or if the individuals have disposal income after meeting their monthly living expenses.
If you are scheduling for a Chapter 13 bankruptcy- click on this link to save to your desktop the documents that Our office would need to obtain from you for turnover to the bankruptcy Trustee.

CHAPTER 13 FEES

The Bankruptcy Court has a filing fee of $310.00 for a chapter 13.
The majority of attorney fees are paid in the chapter 13 plan.

REQUIRED CREDIT COUNSELING

Either a Chapter 7 or Chapter 13 requires a person to obtain a Credit Counseling Certificate from an approved provider within the six months prior to their Bankruptcy filing.
Outlined below is a Court approved provider for this credit counseling that is only $15 with the attorney code "robertcooley":
www.accesscounseling.com

REQUIRED RECENT CREDIT REPORT

The Attorney preparing either your Chapter 7 or Chapter 13 Bankruptcy filing must have in their office on file a credit report obtained within the six months prior to filing. There are available several free credit report websites, such as, annualcreditreport.com where you can obtain a credit report. Our office will accept a credit report obtained by the client.
However, if a client desires our office to obtain a credit report that is comprehensive of Equifax, Experian and Trans Union, we can do so at only the cost we are charged; $33.00 for an Individual and $53.00 for a married couple please click on the link below for a credit report application for our office to obtain a credit report on your behalf.

The United States Bankruptcy Court for the Western District of Kentucky maintains the following website that is full of useful information and further answers to frequently asked questions that you may have.