Florence Kentucky Bankruptcy Attorneys
Bankruptcy is a federal court process designed to help consumers and/or businesses eliminate their debts or repay them under the protection of the Bankruptcy court. Bankruptcies can generally be described as “liquidations” or “reorganizations.” Chapter 7 Bankruptcy is the liquidation variety – property can be liquidated to pay off as much of your debts as possible, while leaving you with enough property to make a fresh start. Chapter 13 is a “reorganization” Bankruptcy for consumers – you repay all or parts of your debts over three to five years. We encourage you to contact our Florence, KY bankruptcy lawyers, and see what our past bankruptcy clients are saying about us.
A Chapter 7 Bankruptcy is also known as a "straight,” "liquidation" or "traditional" Bankruptcy. Most of your unsecured debts may be erased. You get to keep any property that is classified as exempt under the state laws available in your state. The court appoints an individual known as a Trustee to oversee your Bankruptcy. The Trustee usually is a local attorney. The Trustee in Chapter 7 Bankruptcy must ensure that all applicable laws are being followed and represents the creditors' interests in the Bankruptcy proceding.
A Chapter 13 Bankruptcy is also known as a “Wage-Earners Plan or Repayment Plan”. As its name implies, it provides a way to repay all or at least some of the money you owe to your creditors from the income or wages you earn. Some think of it as a debt consolidation. In a Chapter 13 you develop a repayment plan with the help of your attorney. Your plan lets you pay back some or all of the money you owe, and usually takes three to five years to complete. Chapter 13 Bankruptcies are commonly used to stop foreclosures and set up a payment plan for the debtor to catch up mortgage payments and cars loans and also Chapter 13 plan allows for current cars payment. Feel free to contact our Kentucky bankruptcy law firm to determine your specific chapter 13 plan.
The moment a Bankruptcy petition is filed an automatic stay is issued by the court to all of creditors which is an injunction that automatically stops, immediately, all lawsuits, foreclosures, repossessions, wage garnishments, and collection activity against you.
You can begin your fresh start and relieve the heavy weight of debt by seeking the advice of an attorney who is familiar with both Chapter 7 and Chapter 13 Bankruptcies. We have been handling Bankruptcy cases for over twenty five years and have thousands of satisfied clients. To set up a private consultation to review your situation we encourage you to contact our Florence, Kentucky Bankruptcy lawyers.
The Florence, Kentucky bankruptcy attorney group at Kathleen Mezher & Associates, LLC represent clients in the Northern Kentucky including Covington, Burlington, Newport, Alexandria, Fort Thomas, Fort Mitchell, Fort Wright, Highland Heights, Erlanger, Villa Hills, Crestview Hills, Bellevue, Cold Spring, Dayton, Ludlow, Latonia, Edgewood, Walton, Union, Southgate, and Wilder. We serve clients in Boone, Kenton, Campbell, Gallatin, Grant, Pendleton, Bracken, Robertson, and Mason counties.