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Chapter 13 bankruptcy may be best option

At times, it seems like there is no end in sight. The bills keep coming, and the collection agencies keep calling. When this happens, there are several options available to Kentucky residents. These options range from pretending there is no problem, which can cause even more issues, to addressing the problem and filing for Chapter 13 bankruptcy.

One of the first steps in addressing overwhelming financial concerns is to recognize that they are causing undue hardship. Whether the problem was created through the loss of a job or the bills simply got out of control, there is a solution available. While not all debt is released in a Chapter 13 bankruptcy, the debt is made more manageable for the individual.

Many times, when one is at the point where he or she should be considering bankruptcy, bill collectors are calling. While these individuals may sound like they have the individual's best interest in mind, they are being paid to collect a debt. The information they choose to share may not always be the entire truth of the matter. There are most likely other options available that are better suited for the individual.

Filing for Chapter 13 bankruptcy is nothing to be ashamed of. Almost every Kentucky resident has financial problems at one time of another. Prior to meeting with an attorney, it would be a good idea to gather all financial records such as loan paperwork, credit card statements and other pertinent documents. Once the decision to investigate the options that bankruptcy can provide, it is time to contact a legal representative for guidance.

Source:, "How To Avoid The Pitfalls Of Personal Bankruptcy", Nov. 8, 2016

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Law Office of Ginger C. Cord, PSC
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