Bankruptcy: What You Need To Know

At J. Robinson Law Firm, PLLC, attorney John Robinson helps people file for bankruptcy in Shelbyville, Frankfort and throughout central Kentucky.

Bankruptcy is a complex process, and it’s natural that you would have questions about how it works. As your bankruptcy attorney, John Robinson would be happy to talk to you about your debt relief options so that you can decide if bankruptcy is right for you.

Follow the links below for general information about some of the most frequently asked questions about bankruptcy:

• Can You Afford Bankruptcy In Kentucky?
• Can You File For Bankruptcy Again In Kentucky?
• Is Chapter 7 Bankruptcy Or Chapter 13 Bankruptcy Right For You?
• How Can You Protect Your Home?
• What Assets Can You Keep In Kentucky?
• What Should You Do If You Have Been Sued?

Can You Afford Bankruptcy In Kentucky?

If you are struggling with debt, you may feel as if there is no way you will be able to afford a bankruptcy lawyer. At J. Christopher Robinson Law Firm, PLLC, attorney John Robinson has worked with hundreds of clients facing bankruptcy in Shelbyville, Frankfort and throughout central Kentucky. He understands this all too well. He also understands that problems like creditor harassment, foreclosure, wage garnishment and lawsuits do not go away by themselves.

Once you retain attorney Robinson, you will stop making payments on debts such as:

• Credit cards
• Bank signature loans
• Medical bills
• Store charge accounts

You will also experience immediate relief from harassing calls from creditors. An automatic stay will temporarily halt any foreclosure actions, repossessions and wage garnishment. Once you discover the ways in which filing for bankruptcy can lead you to greener pastures, the question is no longer, “can I afford bankruptcy?” The question becomes, “can I afford not to file for bankruptcy?”

Making Bankruptcy Affordable

Your initial consultation with attorney Robinson will be completely free. In that initial meeting, he will explain the process and evaluate your situation to determine whether bankruptcy is indeed the right solution for your financial problems.

J. Robinson Law Firm provides cost-effective representation and works to get you to a fresh start in the most efficient manner possible. We have provided low-cost bankruptcy services to people throughout central Kentucky from our office in Shelbyville.

Can You File For Bankruptcy Again In Kentucky?

Nobody plans on filing for bankruptcy a second time. However, debts can pile up fast when you encounter a medical catastrophe or lose a job. If you are considering filing for bankruptcy a second time, attorney John Robinson at J. Christopher Robinson Law Firm, PLLC, can help you understand when to file.

Help With A Second Bankruptcy

A common misconception is that you have to wait eight years before you can file for bankruptcy again. The truth is, you do not have to wait that long to file for bankruptcy protection a second time.

While you do have to wait eight years between Chapter 7 filings, you may have the option of filing for Chapter 13. For example, many people file for Chapter 7 bankruptcy to eliminate their unsecured debts and then file Chapter 13 to save their house. You may be able to file for Chapter 13 within a year of filing for Chapter 7.

Attorney Robinson can help you determine whether you can file for bankruptcy a second time. He understands that filing for bankruptcy a second time is not something most people want to do. However, if it is the best solution to your financial problems, he can guide you through it a second time.

Is Chapter 7 Bankruptcy Or Chapter 13 Bankruptcy Right For You?

Choosing between Chapter 7 and Chapter 13 bankruptcy depends on your specific financial situation. At J. Robinson Law Firm, attorney John Robinson can help you decide which type of bankruptcy, if any, is best for your circumstances.

Chapter 7 Bankruptcy

• Also known as “liquidation bankruptcy”
• Can eliminate most unsecured debts
• Typically completed in three to six months
• May require selling nonexempt assets

Chapter 13 Bankruptcy

• Also called “reorganization bankruptcy”
• Allows you to keep your property while repaying debts
• Involves a three to five-year repayment plan
• Can help stop foreclosure and catch up on mortgage payments

Attorney Robinson will carefully review your income, debts, assets and financial goals to determine which chapter is most appropriate for your situation. He will explain the pros and cons of each option, ensuring you make an informed decision about your financial future.

How Can You Protect Your Home?

Losing a home that you worked hard to obtain is nothing short of heartbreaking. Though you may feel as if the situation is hopeless, there are many alternatives to foreclosure. In Shelbyville and Frankfort, Kentucky, attorney John Robinson at J. Robinson Law Firm is committed to helping clients save their homes.

Help With Your Mortgage Foreclosure

Mortgage obligations cannot simply disappear. If you are behind on a house payment, you may seek protection under Chapter 13, which allows you to reorganize your debt so that you can catch up with payments and bring your accounts current.

However, Chapter 13 is not the only option. By filing for Chapter 7 bankruptcy, you can eliminate other debt such as credit card debt or medical bills, which will allow you to put more of your income toward paying your mortgage. When you file for either Chapter 7 or Chapter 13 bankruptcy, the court will apply an automatic stay to temporarily stop the foreclosure action in its tracks.

Another option is negotiating with your mortgage servicer for a modification of your mortgage. Attorney Robinson has the skills and knowledge to effectively negotiate with mortgage servicers to reduce monthly payments to a level you can afford.

Lastly, if you have experienced problems with your mortgage servicer, you may wish to consider filing a counterclaim to the foreclosure suit against the servicer for breaching promises.

What Assets Can You Keep In Kentucky?

Understanding which assets you can keep after filing for bankruptcy can be difficult if you do not get the information from an experienced attorney. At J. Robinson Law Firm, attorney John Robinson will help you understand which assets you may keep, which you may have to surrender, and what steps can be taken to protect them.

Which Assets Are Exempt?

In 2005, Kentucky adopted the federal exemptions for bankruptcy. This was a significant improvement for filers in Kentucky because the federal exemptions are broader and more generous to filers. Under federal law, certain assets are exempt from liquidation in bankruptcy proceedings, including:

• Clothing
• Furniture
• Jewelry (up to a certain value)
• Vehicles (depending on the value)
• Retirement funds

Assets that are not exempt are items such as vacation homes, firearms, boats and recreational vehicles, and tax refunds. Some exemptions are greater for married couples. To gain a better understanding of which assets you may keep and which you may have to liquidate, speak with attorney Robinson at J. Robinson Law Firm.

If you file for Chapter 13 bankruptcy, you will not need to liquidate your assets. In fact, if you have a house or other assets that you want to preserve, Chapter 13 bankruptcy is a good option. Attorney Robinson will work hard to help you achieve a positive result.

What Should You Do If You Have Been Sued?

If you are being sued by a creditor, don’t put the summons in the trash. Don’t hide it from your spouse. Don’t hope it will disappear. You have 20 days to file a formal response in court record – that means you need to call an attorney today.

Located in Shelbyville, Kentucky, the team at J. Robinson Law Firm will work with you to gather information immediately about bankruptcy solutions and next steps.

Help With Debt Collection Actions

Creditors can bring lawsuits for all types of matters, such as:

• Credit card bills
• Foreclosures
• Personal injury claims
• Driving without insurance
• Disputes with former business partners
• Failure to pay property taxes

Too often, people assume they cannot afford to pay an attorney. Don’t make that mistake. At J. Robinson Law Firm, attorney John Robinson provides cost-effective representation to clients facing creditor lawsuits – which are far more costly in the long run if they are ignored.

If you fail to file an answer, that failure will result in garnishments against your wages or bank accounts, and judgment liens will be filed against any property that you own. As an experienced trial lawyer, attorney Robinson is prepared to aggressively defend you against overzealous creditors.

Do Not Give Up. We Can Help.

Receiving a notice that you are being sued is very stressful, but it will not simply disappear if you pretend it isn’t happening. To protect yourself and your property, you must contact an attorney as soon as possible.

Financial Freedom Is A Call Away

Don’t let debt control your life. Attorney John Robinson at J. Robinson Law Firm is here to help you understand your options and guide you through the bankruptcy process. With years of experience helping clients in Shelbyville, Frankfort and throughout central Kentucky, he can provide the expert advice you need to make informed decisions about your financial future.

Call us at 502-805-9602 or contact us online to set up your free, no-obligation consultation. Learn how bankruptcy can offer you a fresh start and peace of mind. Don’t wait – the sooner you act, the more options you’ll have to protect your assets and secure your financial future.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.