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September 2017 Archives

Chapter 7 bankrutpcy and a TSP loan

Over the course of time, some Kentucky federal employees may decide to take out a loan against their Thrift Savings Plan (TSP). Such an action may provide the individual with the funds needed to meet an immediate need. However, it is important to remember that TSP loans are treated differently from other loans throughout the Chapter 7 bankruptcy process.

Chapter 13 basics

The alarm clock rings, and the Kentucky worker jumps out of bed, takes a shower, eats breakfast and heads off to work. Day after day, this scenario plays out across the state. For many, the income earned is enough to pay the bills and have a little left over for some extras. However, for some, although they are striving to earn enough to meet their month obligations, they are simply unable to do so. When this happens, chapter 13 bankruptcy may be answer.

Debt settlement or Chapter 7 bankruptcy?

The television advertisements are appealing. When one is struggling to pay debts, debt settlement agencies are available to assist in reducing or eliminating debt. While the services offered by these companies are appealing to many Kentucky residents, the benefits of such action versus filing for Chapter 7 bankruptcy should be carefully analyzed.

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

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Phone: 859-963-2073
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