Bankruptcy is a complex topic, and there is no one solution for everyone. Declaring bankruptcy can offer debt relief, and is something to consider if you are in severe financial distress.
We have experience helping people determine whether bankruptcy is the right solution for them. Our attorneys help clients in the Northern Kentucky and Cincinnati area through Chapter 7 and 13 bankruptcy, foreclosure, repossessions and wage garnishment, and student loan debt. If you are looking for a fresh financial start because of debts, bankruptcy may be the right choice, and our lawyers will represent you throughout the process.
Chapter 7 Bankruptcy
The most common type of bankruptcy, Chapter 7 is available to individuals, married couples, corporations and partnerships. It seeks to discharge unsecured debts, which means that creditors can no longer take action to collect those debts and you will not have to repay them. Chapter 7 is a liquidation proceeding, meaning any nonexempt assets are sold or liquidated by the trustee and distributed to creditors according to the federal Bankruptcy Code.
Chapter 13 Bankruptcy
Chapter 13 bankruptcy is a repayment plan available only to individuals. It is often used by people with higher incomes or more assets such as a home. There are income and debt restrictions on filing for Chapter 13 bankruptcy, and our attorneys can help navigate the rules to decide if this is the right option for you.
Some Debts Cannot Be Discharged
No matter what type of bankruptcy you choose, there are certain debts that are not discharged. These debts include:
- Fraudulently obtained debts
- Alimony, maintenance or child support
- Debts for willful or malicious injury to another person or property
- Government educational loans
- Debts from death or personal injury caused by drunk driving
- Debts incurred post-bankruptcy
Questions about the debts you can or cannot discharge? Speak with one of our attorneys today.
Worried About Bankruptcy?
Get a free consultation regarding bankruptcy by calling 859-905-0946 or emailing us today.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.