http://www.thekybankruptcyblog.com Bankruptcy case studies, tips and resources for Kentucky and Southern Indiana Mon, 15 Mar 2010 15:16:49 +0000 http://backend.userland.com/rss092 en Most bankruptcy clients worry about how a bankruptcy might disrupt their lives.  While many of these fears are unfounded, it is important for you to know the truth about the bankruptcy process and how it may affect you after your case is filed.  One serious matter is how a bankruptcy ... http://www.thekybankruptcyblog.com/2010/03/15/employment-discrimination-and-bankruptcy Many older Americans struggle each month to pay credit card debt with a modest income. Often paying unsecured debt is a tremendous burden and requires a sacrifice of basic necessities. Sometimes the elderly conserve utilities, or cut back on food, or forego prescription medication to pay credit card companies.  The subject ... http://www.thekybankruptcyblog.com/2010/03/05/debt-and-the-elderly During bankruptcy a debtor is required to reveal all assets and give an estimated value of the property.  When the asset is cash money or an investment, figuring its value is easy.  In other cases nailing down a value can be very elusive.  This is especially true when dealing with ... http://www.thekybankruptcyblog.com/2010/03/01/how-to-value-household-property-in-bankruptcy A Chapter 13 bankruptcy is a repayment plan that lasts three to five years.  During that time the debtor is required to devote all disposable income to the repayment of debt.  Most bankruptcy trustees and courts consider tax refunds part of the debtor’s disposable income that is over-withheld and should ... http://www.thekybankruptcyblog.com/2010/02/19/will-i-lose-my-tax-refund-by-filing-chapter-13-bankruptcy Before people file for bankruptcy they are free to handle their finances as they see fit.  You can choose which debts to pay when you want or opt not to pay at all.  In addition, you can apply for credit to purchase things, like a car or furniture or a ... http://www.thekybankruptcyblog.com/2010/02/12/how-taking-financial-actions-without-court-approval-may-affect-your-chapter-13-case Our office receives calls from clients in a panic from time to time when they receive one of these Motions and Orders. And understandably so.  Your initial reaction is “I can’t raise my plan payment.  I am already stretched to the limit.” Relax, your plan payment is not being raised.  ... http://www.thekybankruptcyblog.com/2010/02/09/motionorder-to-raise-plan-percentage-filed-by-your-trustee Imagine this: you are behind on your car payments.  Heck, you are behind on a lot of bills, and perhaps you have been considering bankruptcy for some time.  Then one day you walk out the door for work and discover. . .  Your car has been repossessed!  Don’t despair!  Bankruptcy can still ... http://www.thekybankruptcyblog.com/2010/02/03/help-my-car-has-been-repossessed A lot can happen during a Chapter 13 repayment plan which generally lasts three to five years.  Sometimes large debts are incurred that the debtor is unable to pay.  Fortunately, a Chapter 13 debtor is able to discharge a post-petition debt, but only after certain prerequisites are met.  First, the debtor ... http://www.thekybankruptcyblog.com/2010/02/01/discharging-post-petition-debt-in-chapter-13 Sometimes a young couple who has struggled for years will finally decide to file bankruptcy.  For a young family the financial difficulty is often a combination of unstable income, medical bills and overextended credit.  While desperate to buy their first home, they have resigned themselves to the belief that the ... http://www.thekybankruptcyblog.com/2010/01/27/buying-a-home-after-bankruptcy A reaffirmation agreement is a new contract between a debtor in bankruptcy and a creditor in which the debtor agrees to continue personal liability on a secured loan and the creditor agrees to not repossess the property.  Reaffirmation agreements are only available to Chapter 7 debtors and the agreement must ... http://www.thekybankruptcyblog.com/2010/01/22/what-is-a-reaffirmation-agreement