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December 2016 Archives

Chapter 13 bankruptcy allows small business to restructure debt

Throughout Kentucky, many dream of owning their own business. It could be a small retail store, a restaurant or even a lawn care business. Regardless, the business would be theirs, and they would dictate how, where and when they would work. For some, this dream becomes reality, and then it becomes a financial dilemma. Often, small business enterprises have financial problems and spawn the need to look for solutions; Chapter 13 bankruptcy may be the solution.

Chapter 7 bankruptcy and social media

Social media has become a part of everyday life. Throughout Kentucky, people wake up and rather than turn on the news, they look to social media to see what is going on around them. One problem with this is that not everything that is posted on social media is as it seems. Truths are stretched, and the majority of individuals go to great lengths to make their online presence appealing. This difference between what is presented and the individual's reality can sometimes become a part of one's Chapter 7 bankruptcy petition.

Some debts not dischargeable in Chapter 7 bankruptcy

At some point in time, many Kentucky residents realize that enough is enough. The bills keep coming in and collectors keep calling. However, for any number of reasons, there is simply not enough money to meet each of the obligations. Rather than continue to let the situation get worse, it may be time to take action and file for Chapter 7 bankruptcy.

Reorganizing small business debt through Chapter 13 bankruptcy

As a small business owner, you know how difficult it can be to navigate complicated financial issues. Unexpected expenses and other temporary setbacks can be expensive, eventually taking a toll on your ability to make payments and keep up with other financial responsibilities. If your Kentucky business has been threatened by your debt burden, you may consider the benefits of debt reorganization by filing for Chapter 13 bankruptcy.

Chapter 13 bankruptcy may stop foreclosure

When financial problems begin to spiral out of control, the possibility of losing one's home can become a reality for some Kentucky families. Thoughts of foreclosure can lead one to not even know how to begin to tackle the overwhelming financial dilemma. For some, filing for Chapter 13 bankruptcy may be the answer.

Chapter 13 bankruptcy allows one to reorganize budget

Financial problems can be caused by a number of reasons. Perhaps a source of income has been reduced or lost. Sometimes medical bills are the problem, and for some Kentucky residents, credit cards become a source of trouble. Rather than allow the bills to continue to pile up and the creditors to continue calling, it may be time to do something about the financial concerns. For some, filing for Chapter 13 bankruptcy may be the answer.

Chapter 13 or Chapter 7 can prevent foreclosure

Homeowners in Kentucky may believe that they must avoid bankruptcy at all costs. However, when foreclosure looms, bankruptcy can nip it in the bud. Although it is true that both Chapter 7 and Chapter 13 bankruptcies will remain on a homeowner's credit record for some years, if bankruptcy can save his or her home it may be worth it. Understanding some of the terms related to bankruptcy may make it easier to decide whether bankruptcy is a suitable remedy.