Does My Spouse Have To File As Well?

February 17, 2010

Not necessarily. It is not uncommon for one spouse in Northern Kentucky to have a significant amount of debt in their name only.  However, if spouses have debts they want to discharge that they’re both liable for, they should file together.
Otherwise, the creditor will simply demand payment for the entire amount from the spouse who [...]

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Will My Credit Be Ruined Forever?

February 17, 2010

While your credit score will in all likelihood lower once bankruptcy is filed, within time your credit score will be higher within a year or two after you file.
I have had many clients refinance their homes, purchase cars, and get credit a year or two after the bankruptcy is filed.
While the credit bureaus will report [...]

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Will The Court Come To My House And Take My Furniture, My Cars, Or My House?

February 17, 2010

I tell my potential clients in Northern Kentucky that there are very liberal exemptions that are allowed in the state of Kentucky and in most cases, people can file bankruptcy and exempt all of their assets that are not securing debt.
Here’s a chart of the exemptions you are allowed to have.

These Kentucky Exemptions are approximate [...]

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Are All Of My Debts Wiped Out When I File Bankruptcy?

February 17, 2010

The only debts that cannot be erased in a bankruptcy are child support and alimony, student loans, debts incurred as the result of fraud, criminal fines, and certain taxes.
All other debts including but not limited to judgments, garnishments, medical bills, credit card debts, mortgage debt, car debt, check exchanges, and utilities are dischargeable in a [...]

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Will All My Friends And Family Know We Filed For Bankruptcy?

February 16, 2010

No, bankruptcy is very confidential.  In fact, many of your friends and family have probably filed for bankruptcy already.
While it’s true that bankruptcy is a public legal proceeding, the numbers of people filing are so massive, very few publications have the space, the manpower or the inclination to run all of them.
Our offices are very [...]

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