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July 2017 Archives

Chapter 7 may be a better solution than payday loans

The overwhelming feeling of being out of money before all the bills are paid is something many in Kentucky can appreciate. While the option of filing for Chapter 7 bankruptcy may provide some with relief from their debts, some may first try alternative methods of debt relief. Unfortunately, far from providing a solution, some of these methods compound the situation.

Debt doesn't just go away; Chapter 13 bankruptcy may help

The temptation to do nothing can be great. At first, it seems easier to just ignore the problem rather than deal with it. Bills go unopened, the phone goes unanswered and the tension mounts. Sometimes the extent of financial problems that the Kentucky resident is facing is unknown. It is time to take action, and many times, Chapter 13 bankruptcy is the most appropriate action to handle the growing financial problem.

Chapter 7 bankruptcy or tap into accounts to pay off debt?

Debt consolidation loans, credit cards offering an interest free balance transfer option, home equity loans and even retirement accounts all offer the Kentucky resident options to pay off debt. In some cases, one of these options may be a good idea. However, depending upon the individual and his or her circumstances, Chapter 7 bankruptcy may be a more appropriate choice.

Petitioner accused of hiding assets in Chapter 7 bankruptcy

As with most things in life, filing for bankruptcy involves paperwork. This paperwork is an integral part of the process, and the finalized copies are likely to become court documents in Chapter 7 proceedings. With this in mind, it is essential that the Kentucky resident filing for bankruptcy is as accurate as possible when completing these documents.