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March 2016 Archives

Filing for bankruptcy may not remove all debts

Kentucky residents considering filing for bankruptcy might like to know that in a Chapter 7 or 13 discharge, not all debts are eliminated. Some of those debts include alimony and child support claims, student loans, criminal fines and some long-term obligations like a home mortgage.

Credit card debt in many households

Kentucky is not one of the states with one of the highest credit card debt in the country, but many people who live there may carry credit card debt. In all, people in the United States have $3.4 trillion in consumer debt, and $929 billion of that is revolving debt. Around 38 percent of all households carry credit card debt with a mean of about $5,700.

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Law Office of Ginger C. Cord, PSC
155 E. Main Street
Suite 330
Lexington, KY 40507

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