What Your Kentucky Brankruptcy Attorneys Should be Doing for You
If you are a Kentuckian experiencing the agonizing realization that you can’t see a way out of your debt, the thought of going to a bankruptcy attorney can feel like the worst failure, making your personal problems become public. Too many people make the mistake of waiting too long before they talk to an attorney about their bankruptcy options, when in fact, sooner is better for two key reasons:
- You will immediately learn that bankruptcy isn’t the process of dealing with failure. It’s the process of beginning financial recovery, put in place for us because devastating debt is very common, especially when an illness and/or loss of a job is experienced.
- The longer you wait to file bankruptcy, the longer it takes to get out of debt. Anyone who avoided bankruptcy as long as they could, will say the same thing once they go through the process: “Wow. I wish I had done this earlier.”
What should your Kentucky bankruptcy attorney be doing for you? First: reassurance and encouragement. An expert bankruptcy lawyer needs to appreciate what you’re feeling and quickly determine which type of bankruptcy solution will give you the greatest relief in the fastest timeframe.
When Should You First Contact a Bankruptcy Attorney?
If your bankruptcy attorney offers a free first consult, it’s never too early to contact them. What do you have to lose? You could learn about options other than bankruptcy, or you can be on the fast road to financial recovery. When you are feeling desperate, you need an experienced guide who will listen to you and provide quality, compassionate counsel.
Here are a few red flags that suggest you should start talking with a qualified bankruptcy expert about your options:
- You are considering withdrawing funds from a 401k retirement/savings account to pay bills.
- You’re considering selling your home to pay bills.
- Your home is in danger of foreclosure, or a foreclosure has been filed.
- Creditors are suing you to pay your debts/bills.
- The only way you can make payments is with credit cards.
- You’re using credit cards to pay credit cards.
What Are the Bankruptcy Options?
There are two primary options for filing bankruptcy, mostly depending on the severity of your debt and your ability to make payments. But there are also types of legal protection that bankruptcy lawyers can provide for clients who are going through bankruptcy, and need relief to aid with recovery.
- The two main types of Bankruptcy to file for individuals.
Chapter 7 Bankruptcy is for people who have no way of paying their bills, with little or no ability to pay their debt.
Chapter 13 Bankruptcy is for people who have sufficient income and want to create a plan for getting out of debt, while still paying their creditors some or all of what’s owed.
These are broadly stated definitions, but there are many, many exceptions and conditions which further distinguish qualification for each, requiring an experienced attorney to quickly determine which (if either) type of bankruptcy is applicable and helpful. - There are several types of relief that can be helpful to people going through bankruptcy and debt recovery.
Creditor Harassment Defense: Legal representation can put a quick stop to those relentless, aggressive calls.
Foreclosure Defense: Time is critical. Get legal representation to stop the process of foreclosure on your home.
Wage Garnishment Defense: Your attorney can act fast to find the options that protect as much of income as possible.
Your attorneys at Musselwhite, Meinhart, Staples and Hafley are among the most experienced Kentucky Bankruptcy Attorneys in Hardin and surrounding counties, with offices in Radcliff and Elizabethtown.
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If you are experiencing debt problems, there are options for relief. We can help!