When your debt reaches insurmountable levels, seeking the help of a reliable bankruptcy attorney may help you escape the harassment and threats of your creditors. At the Law Offices of John Schmidt & Associates PLLC, our team of attorneys offers compassionate and trustworthy legal counsel. We take great pride in helping our Kentucky neighbors through the difficult times in their lives and providing them with hope for their future.
Chapter 7 bankruptcy is often called liquidation bankruptcy. When you file for Chapter 7, you allow your property to be sold in order to pay off your creditors. The entire process usually takes about six months, and requires a means test in order to proceed.
A common misconception of people who file for bankruptcy is that they are irresponsible with their money. This is simply not true — many people face bankruptcy because of high interest that piles up or unforeseen medical expenses. Chapter 7 bankruptcy can help you to overcome these debts. It is a viable option for anyone facing debts from the following causes:
Unfortunately, Chapter 7 bankruptcy does not necessarily protect the property you own. Without the assistance of a bankruptcy lawyer, you could lose valuable possessions or your home. We work with you to prevent this from happening.
We understand the anxiety that debt creates, and we want to grant you relief from it. When you work with our Shepherdsville lawyers, our patient, compassionate advice gets you through the bankruptcy process and provides you with:
We also work with you to determine which exemptions you’re eligible to choose. Kentucky allows you to choose their exemptions or the federal exemptions — but you cannot mix-and-match between them. We look at which list will help you more in the long run, and advise you about which steps to take for the future.
