Best Business Attorneys in Lexington, KY

The trustee is not a judge but an individual appointed by the United States Trustee Office to oversee your case. The trustee does not work for a law office and does not work for the court. He or she works independently and reports on your case to the United States Trustee Office and the court. Bankruptcy law requires you to cooperate fully with your trustee. There are several Chapter 7 trustees and one Chapter 13 trustee per bankruptcy court district; Kentucky has an Eastern District and Western District.

A person can file a Chapter 7 bankruptcy every eight years and receive a discharge. A debtor can receive a discharge in Chapter 13 every four years. You can file Chapter 13 even if you are not eligible for a discharge.

If you have already been sued by a creditor, we must quickly determine the status of the lawsuit because a judgment entitles a creditor to garnish wages, a bank account, or file a lien. Filing a bankruptcy stops most lawsuits, including efforts to collect. However, it is best to act quickly to avoid garnishment or other collection efforts which may go forward after a judgment is entered.

No. The credit card companies will immediately cancel your card from any future use. You may want to go ahead and destroy them prior to filing. However, after you file, you may apply for new cards and after some time period, you will most likely begin to receive mail solicitations for new cards. If you urgently needed a credit card for some reason, you may buy prepaid cards with your income that is generated after you file, in a Chapter 7 setting.

Filing for bankruptcy is a privilege permitted by law. The trade-off is full financial disclosure. The level of information demanded is quite rigorous, because your creditors are entitled to know the full extent of your financial picture, sworn to under oath. Your attorney needs to be able to verify various liens and information, so needs to see car titles and mortgages that show that they are properly recorded. Answer truthfully about everything asked, because your signature on the bankruptcy papers are the same as testifying under oath.