This is a common question, because obviously a decision to file bankruptcy is difficult.  Bankruptcies filings are public documents, but in order to access a person must have a pacer account, which would be uncommon for a non-lawyer.  Many people are familier with the Community Newspapers running police reports, criminal and civil court cases.  This is not the case in bankruptcy. 

If you are in Boone, Kenton, Campbell, Grant, Pendleton, Bracken or Gallatin Counties and want to learn how bankruptcy may help you, please call Brandon N. Voelker at (859) 781-9100 or (859) 824-3361, for a free consultation.

Sometimes.  In the event you have a second mortgage that exceeds the fair market value of your home, you may be able to strip off the lien in a Chapter 13.  For example, if you have a $100,000 home, with a $100,000 first mortgage and $50,000 second mortgage, the second mortgage may be able to be stripped off.

If you are a person struggling with your house payment in Boone, Kenton or Campbell County, please call Brandon N. Voelker, (859) 781-9100 to set up a free consultation.

Yes, they will!  By law, all actions against a debtor must cease once the bankruptcy documents are filed.

Creditors cannot initiate or continue any lawsuits, wage garnishees, or even telephone calls demanding payments.

Secured creditors such as banks holding a lien on a car, will get the stay lifted if you cannot make payments.

If you need guidance on significant debt obligations and live in the Northern Kentucky area, give my office a call at 859.824.3361. to set up your free, no obligation and confidential consultation.

There has been much doom and gloom written about the bankruptcy means test under the new laws and how much more difficult it’s going to be to file Chapter 7.

It’s true that there are more hoops to jump through under the new laws, and it’s true that the bankruptcy test will result in some people having to file chapter 13 instead of Chapter 7.

However, for the vast majority of filers, Chapter 7 is still available with very little extra effort!

If you are considering Bankruptcy and have questions about whether Chapter 7 or Chapter 13 Bankruptcy is the way to go, give my office a call at  859.824.3361 for a free phone consultation.

One of the major purposes of bankruptcy legislation is to afford the opportunity to a person hopelessly burdened with debt to erase his or her debt and thereby get a fresh financial start.  A bankrupt’s debt is erased when he or she is discharged.

The debtor is discharged 3 – 5 months after bankruptcy is filed.  At that time all debts (with some exceptions) are written off.

Do you live in Northern Kentucky and have questions about Bankruptcy?  Then give my office a call at 859.824.3361.  The time you spend asking questions is free – and there is no obligation to do anything.

With the economy in ruins and home prices and values continuing to decline, it is seomtimes possible to “cram down” the debt owed against your home and wither strip off a second mortgage or reduce the payment on a first mortgage within a Chapter 13 bankruptcy.  In a Chapter 13 bankruptcy a debtor is only required to pay the secured value back to the bank.  Here is an example:

The homeowner has a first mortgage owing $150,000 and a second mortgage owing $50,000.  The current home appraisal is $145,000.  In a Chapter 13 filing, the homeowner could “cram down” the second morgage and treat it as unsecured.  The homeowner has reduced thier monthly payment by getting rid of thier second mortgage.

Another Example:

Homeowner has $80,000 worth of debt, at 12 percent interest on a home that is currently worth $45,000.  The homeowner’s current payment would be in excess of $1,100 but in a Chapter 13 bankruptcy, the homeowner could lower their payment to $900 per month and pay the home off in five years.

A person can absoultely file bankruptcy if they make over $100,000 per year.   In most cases, depending on the size of your family, most likely you will need to file a Chapter 13 bankruptcy and pay back a portion of your debt over a three to five year period.  The amount that needs to be paid back is based on the discretionary income you would have after paying reasonable expenses for basic needs.  Please call us at 859-824-3361 to assist with your high income bankruptcy.

In most cases an individual must wait 8 years to file a new Chapter 7 case and 4 years to file a Chapter 13 bankruptcy case.  However, a debtor can file a new Chapter 13 bankruptcy case after two years if the prior bankruptcy was also a Chapter 13 bankruptcy.  The time periods in either case are measured from the commencement dates of the respective cases. The dates of discharge have no bearing on the disqualification.

A debtor may be able re-file a Chapter 13 bankruptcy immediately after a dismissal of a prior Chapter 13 bankruptcy, however there are many issues and ramifications involved and an attorney knowledgeable in bankruptcy should be contacted.  The Voelker Firm with offices in both Williamstown and Cold Spring can help.  Contact them at 859-824-3361.

If you’re thinking about filing bankruptcy, you’re probably wondering how it can affect credit.

It’s true that bankruptcy stays on a credit report for up to 10 years (may be less depending on which type of bankruptcy is filed), but once the slate is essentially “wiped clean” after a successful bankruptcy filing, people can instantly start rebuilding their credit.

In fact, many people even gain stronger credit scores after filing bankruptcy because their old debt is gone and they can start fresh.

If you are considering Bankruptcy and need straight and honest answers to your questions, call my Northern Kentucky Bankruptcy offices at  859-824-3361.

Absolutely.  These predatory lenders are usually slow deaths for folks who get involved with them.  These debts are completely dischargeable and there Is no risk of criminal prosecution or jail like these lenders would suggest.

If you have questions about significant debts or Bankruptcy, and reside in Northern Kentucky, please call my office at 859-824-3361 for a free consultation.