Kentucky debtors who are considering filing for Chapter 13 bankruptcy protection might be interested in learning about a case that more clearly defines what a domestic support obligation includes. Domestic support obligations are not able to be discharged in bankruptcy. In Chapter 13 plans, they are considered to be priority debts that must be paid in full during the repayment…
Kentucky residents who are drowning in unpaid debts may find that it is very difficult to save money for the future. Debt problems may be one of the major reasons why most of Americans have less than $1,000 set aside in a savings account. When the interest on debts starts to add up, a person may find that it’s time…
With the holiday season right around the corner, many in Kentucky are in the process of doing their holiday shopping. Unfortunately, many will choose to finance their purchases with credit cards. Although this is a quick and easy method, it makes it easy to spend more than they budgeted. Unless the balance is paid off in full, the high interest…
People who file for bankruptcy in the U.S. most commonly file for Chapter 7 or Chapter 13 based of the circumstances of their case. Many Americans struggle with the burden of financial debt on a regular basis. From excessive medical bills to maxed out credit card accounts, people are fighting to keep their heads above water. In some cases, people…
Working with debt consolidation companies can make your bad financial situation even worse. If you have gotten behind on your bills, you can be put in a desperate financial situation, one that you would do almost anything to dig yourself out of. As a result, many people in this situation are tempted to work with debt consolidation companies that promise to settle…
A recent study provided by ADP sheds light on recent statistics surrounding garnishment in the United States. It’s common for many people who are past due on bills to experience various forms of harassment from creditors. Many creditors will not hesitate to send threatening letters and emails; some even call close friends or loved ones to track down a debtor.…
Both types of bankruptcies are helpful in avoiding foreclosure. Although things are becoming undoubtedly better than they were, many Kentuckians are still feeling the effects of the 2008 recession. As a result, many are feeling the financial pinch due to unemployment or underemployment. Unfortunately, this can cause some to fall behind on their mortgage payments and face foreclosure. To keep…
On March 4, 2014, the U.S. Supreme Court issued an opinion dealing with whether a bankruptcy court can seize exempt assets from a person who has committed fraud during the course of a Chapter 7 bankruptcy case. The decision has important implications for future bankruptcy cases. Fraudulent lien claimed in Chapter 7 case The case stems from a Chapter 7 bankruptcy case.…
Over the past 10 years, economic troubles have caused homeowners across the U.S. to fall behind on their mortgage payments. Unfortunately, this has caused a general increase in the number of foreclosures in many parts of the country. Indeed, many people from all walks of life have run into financial difficulties and have had to work hard to keep their homes. Recently…
Oftentimes, people who file for bankruptcy are able to obtain relief from unmanageable debt and improve their financial circumstances relatively quickly. In some cases, however, unexpected events like job loss or a sudden illness can interfere with a person’s plans to get back on his or her feet again after bankruptcy, and some may find themselves wondering about the possibility…