Chapter 7 Lawyer Bowling Green, KY
Need a Fresh Start Financially? Partner With a Chapter 7 Lawyer in Simpson County, KY and the Surrounding Areas
When debt becomes overwhelming and creditors begin taking action to collect, it can quickly become a frightening and confusing situation for the debtor. If you want a fresh start so that you can move on without crippling debt, you should consider bankruptcy as an option. Though bankruptcy isn’t for everyone, it can provide relief by discharging unsecured debts so that you are no longer obligated to pay them. Chapter 7 bankruptcy is the most common filing for individuals and couples who have lower incomes and few assets (or little equity in their assets). Mike Carey is an experienced bankruptcy lawyer that can help you assess your options and file Chapter 7 if it’s right for you. He has over 9 years of experience as a chapter 7 lawyer and has helped hundreds of clients in Simpson County, KY and the surrounding areas.
Chapter 7 bankruptcy involves liquidation of the debtors non-exempt assets. A court-appointed bankruptcy trustee collects and sells the debtor’s non-exempt property in order to pay off some or all of their debts. Remaining unsecured debts are typically discharged. In many cases, the debtor is able to claim exemptions on property they want to keep, such as their home, vehicle, clothing, etc. This is especially true for debtors who have little equity in the assets they want to keep. Many of our clients get their debts discharged under Chapter 7 bankruptcy without losing anything.
Not every debtor is eligible to file Chapter 7. In order to qualify, you must complete a pre-discharge debtor education course. You also must pass a “means test” which determines your disposable income by subtracting your living expenses from your total income. Debtors who have too much disposable income may not be eligible for Chapter 7, but they may be able to file Chapter 13 which involves restructuring debts and making reasonable payments over a 3-5 year period.
It’s important to note that filing bankruptcy chapter 7 can only discharge unsecured debts such as credit card debt and medical debt. Things like overdue child support payments, student loans, compensation owed to personal injury victims, and most tax debts are not eligible to be discharged. Contact us today to speak with Mike Carey and find out what you can do next to seek relief from debt.
How Can a Chapter 7 Bankruptcy Attorney Assist You in the Process?
An individual may be required to file for bankruptcy for several reasons, including, but not limited to:
- Wage Garnishments Due to Medical Debt: Medical bills can be incredibly expensive. If you have medical debt, then a creditor can potentially take a significant portion of your wages. This, in turn, can make it difficult for you to pay other bills.
- Delinquent Auto Loan Payments: Cars are expensive. It can be easy to fall behind on your auto payments, which in turn can cause serious potential financial issues.
- High-Interest Finance Company Loans: Taking out a loan can be beneficial, provided you’re able to pay it in a timely manner. However, some high-interest loans can gather a significant amount of extra money, which, in turn, can make them more difficult to pay.
- Excessive Credit Card Debt: Many people put expenses on their credit card, either because it’s easier or because they need necessities that they can’t afford at the moment. Over time, however, this debt can build and can eventually become too much to manage on your own.
When facing problems like these, working with a qualified chapter 7 attorney can help you determine the right path to debt relief. The first step in our process is a complete assessment of your financial situation. Mr. Carey can help you determine if there are alternative options outside of bankruptcy that may offer you relief and help you achieve your unique goals. If we decide that Chapter 7 bankruptcy is the best choice for your situation, we’ll help you with gathering the documents needed to file and prepare the paperwork for you.
This can be a complex and time-consuming process, as you are required to give the bankruptcy court a complete picture of your finances. That means gathering tax returns, pay stubs, bank statements, and any other documents related to your income, assets, and debts. After filing, Mike will represent you in any meetings or hearings that may be required.
Consult With a Local Chapter 7 Lawyer and Get the Relief You Need to Move Forward
Are you struggling with debt and need relief fast? Chapter 7 bankruptcy is the quickest, simplest, and most common type of bankruptcy filing. If you are eligible, this may be the ideal option to discharge the debts you aren’t able to pay so that you can start fresh. Mike Carey has over 9 years of experience as a bankruptcy attorney and has helped hundreds of clients file Chapter 7.
When you call Carey Law, you’ll get one-one-one attention from Mike and get the guidance you need to make the right choices. He will do everything he can to make the process simple and convenient for you so that you can focus on getting your finances back on track. Call today to start with a free consultation and learn more about your potential options. We’re looking forward to hearing from you and helping you on the road to a better financial future.
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The information contained on this website is presented for informational and marketing purposes only and is not to be understood as legal advice. You should consult an attorney for advice respecting your individual needs. Carey Law looks forward to speaking with you about your particular needs. Please note, however, that the mere act of contacting our firm does not create an attorney-client relationship. As a result, you should never send any confidential information to our office until a Representation Agreement has been signed by both you and Carey Law.