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August 2017 Archives

Chapter 7 bankrutpcy answer to rising debt

Housing, cars, clothing and food -- each of these items are a necessity for the Kentucky family. However, each of these items can also be a major expenditure for the family. As these costs climb, the average individual or family often struggles to keep up with the rising costs and the increased debt that each can bring. At times, the debt load can become too much, and action needs to be taken in order to recover and keep up financially. When this happens, Chapter 7 bankruptcy may be the answer.

Is bankruptcy appropriate after a layoff?

Perhaps you've seen the writing on the wall for some time — the dismal quarterly profit reports, the slowly-shrinking workforce — or maybe it came like a bolt from the blue. But either way, the day that you read your own name atop the pink layoff slip will be a shock regardless.

Chapter 13 bankruptcy can benefit the average individual

Although it may feel like it is the end of the world, financial problems are a common occurrence for many throughout Kentucky. For some, the problem seems to creep up as consumer debt slowly mounts. For others, disaster strikes and suddenly one is faced with overwhelming financial concerns. In many instances, filing for Chapter 13 bankruptcy is the best way to approach the problem.

Chapter 7 bankrutpcy and medical debt

For 12 years now, personal bankruptcies in the United States have been on the decline. For those Kentucky residents who have been able to struggle through and overcome financial crisis, this is great news. However for those who are still in the midst of the financial battle, filing for Chapter 7 bankruptcy may be in their best interest.

Chapter 7: Moving past reservations and pursuing debt relief

Many individuals in Kentucky and across the country have experienced the financial strain of dealing with the burdens of debt. Should these hardships persist, a person might consider seeking relief from debt through Chapter 7 bankruptcy, but he or she may be hesitant to make such a major decision. However, seeking advice on the potential outcome of a bankruptcy could help one overcome any reservations and pursue a healthier financial future.

Chapter 7 bankruptcy can happen to anyone

Some people just seem to have it all. On the surface, it appears that these Kentucky residents have a good job, a beautiful home and money in the bank. However, the reality of the situation for many is that the picture presented to friends and family is far from the truth. Once one begins to move forward financially, the temptation to live beyond one's means is great. The simple fact is that many who find it in their best interest to file for Chapter 7 bankruptcy are those that appear to have it all.

Are investment accounts protected in Chapter 13 bankruptcy?

Even when faced with a financial crisis, many Kentucky residents have the foresight to look ahead. The goal is to solve the current problem without creating a long-term one that can possibly affect one's ability to retire and enjoy life. For some, how Chapter 13 bankruptcy can affect their investments is a concern.