Hardin County Bankruptcy Attorneys
Helping Local Families Find Relief Through Bankruptcy
Accumulating debt is rarely intentional but almost always carries significant, damaging consequences. You can quickly find yourself taking on more than you can pay as a result of an unanticipated trip to the hospital, the sudden loss of a job, or a flurry of unexpected costs. When you are unable to make payments, you can even be hit with late fees and other penalties, making it even harder to catch up. Before long, you could be facing an overwhelming debt load you may think is impossible to overcome.
Your life does not have to be ruled by debt. Bankruptcy is a legal tool that empowers you to retake control of your finances and entitles you to significant benefits and protections. Filing can potentially shield you from collection actions, enable you to discharge unsecured debts, and even save your home. Our Radcliff bankruptcy attorneys at Musselwhite Meinhart & Staples can advise whether bankruptcy makes sense for your situation, determine which type you are eligible for, and represent you in each stage of your filing.
Benefits of Bankruptcy
Filing for bankruptcy confers numerous benefits, some of which take effect immediately. Other forms of relief only become available once your filing has been successfully completed.
The automatic stay is a court order issued shortly after you file for any type of consumer bankruptcy. This stay prevents any lenders or debt collectors from pursuing any collection actions against you. In other words, you will no longer receive letters or calls demanding payment, and in most cases you will be unable to lose any of your property – including your home – to repossession or foreclosure. The freeze on collection actions will generally persist until your bankruptcy is complete, meaning that in some cases, you will have multiple years of protection.
Completing a bankruptcy will usually result in the court allowing you to discharge your unsecured debts. Unsecured debt encompasses any type of debt that lacks collateral, such as credit card debt, medical bills, unpaid utility bills, and personal loans. The ability to discharge unsecured debts can represent monumental relief for many.
In general, bankruptcy gives you time to come up for air. If you have been drowning in debt, it can be overwhelmingly stressful trying to keep track of who you owe and how behind in payments you are. Bankruptcy allows you to take stock of your obligations and determine how best to manage them going forward. The goal is to ultimately build a better, more sustainable financial future free of crushing debt.
Bankruptcy Services We Offer
There are multiple types of consumer-oriented bankruptcy, and the practice can be used to help combat several consequences of accumulated debt. Our team is familiar with all areas of the Bankruptcy Code as well as relevant federal and state laws. We can leverage our knowledge to maximize the benefits of bankruptcy while limiting its impact on your estate.
Our Radcliff bankruptcy attorneys offer services in the following areas:
- Chapter 7 Bankruptcy. This form of consumer bankruptcy is intended for persons without sufficient means of paying any portion of their outstanding debts. Your nonexempt assets will be subject to the liquidation process, in which property is sold by a trustee assigned to your case in order to partially compensate creditors. This can sound frightening, but you are permitted to exempt many assets, including value in your home, car, and other practical and sentimental property, and protect them from liquidation. We can help determine if you qualify for Chapter 7 bankruptcy under the state’s Means Test and work to limit what is subject to the liquidation process.
- Chapter 13 Bankruptcy. The other type of consumer bankruptcy focuses on a restructuring of debt and is meant for those who can afford to pay back some of what they owe. A bankruptcy court will reorganize your debt into a single payment you will be expected to make monthly for a period of 3 to 5 years. The amount of your payment will be in most cases derived from your current level of disposable income – your ability to reasonably pay – and not the total size of your debt. We can help you assess your level of disposable income and fight to get you a repayment plan that is viable and fair.
- Creditor Harassment Defense. If you have missed multiple payments on one or more loans, there is a good chance your lender or a collection agent representing them will attempt to contact you about settling up. These communications can quickly snowball into various forms of creditor harassment, especially if you are unable to immediately repay. You have federally protected rights protecting you from especially intrusive creditor strategies, but you can also put a complete stop to collection calls by filing for bankruptcy. The automatic stay prevents any creditor from attempting to contact you directly until your bankruptcy has been completed. Retaining legal representation can put a quick stop to creditor harassment, and we can determine if any debt collectors broke the law when contacting you.
- Foreclosure Defense. Losing a home due to foreclosure can be devastating, but there are ways to stop the process and save your home. Your lending institution must wait a minimum of 120 days before filing a foreclosure lawsuit, giving you some time to explore relief options. Once a foreclosure is in motion, you will have to act quickly and should immediately contact qualified legal representation. We can leverage bankruptcy’s automatic stay to halt foreclosure proceedings if the property has not yet been sold at auction. Given the urgency of these matters, our team is available for same-day appointments and even same-day bankruptcy filings.
- Wage Garnishment Defense. If a lender becomes frustrated by your inability to repay debts, they may attempt to file a lawsuit to obtain a money judgment, which authorizes them to siphon away a portion of your paycheck. Wage garnishment can make a bad situation worse but can be avoided through bankruptcy’s automatic stay. Note that some forms of debt do not need court orders to enact garnishment, meaning you may need to act fast to avoid losing part of your take-home pay. We can evaluate your vulnerability to wage garnishment and help you explore relief options, including filing for bankruptcy.
If you are unfamiliar with bankruptcy, it can be easy to become intimidated and overwhelmed, especially if you are fearful of losing your property to liquidation. Our Radcliff bankruptcy attorneys at Musselwhite Meinhart & Staples have over 100 years of legal experience and have assisted countless Kentucky clients manage their debts through filing. Our goal is to help you escape overwhelming debt and find a fresh financial start. We can guide you through step of the process, including determining your eligibility, helping file the appropriate documents with bankruptcy court, preparing your estate for liquidation or debt reorganization, and representing you in communications with creditors. No matter how complex or dire your situation may seem, we believe our compassionate legal services can help you build a better future free of debt.
Our law firm provides a full range of legal services to help you and your family achieve your goals. We speak your language. We are here to help you understand your legal options, what to expect and what steps we can take to protect you.
Our firm offers over the phone and video consultations for your safety and convenience. All consultations are free.
Our attorneys treat you like family. We care about helping you find the best resolution to your case.
We are accessible to our clients and are available 24/7.
Our attorneys offer honest advice and tailored solutions to your unique goals.
We are friendly and approachable lawyers who listen and understand your needs.
Our attorneys have decades of experience with successfully handling a variety of legal matters.