Family Law Attorneys in Orange County

Bankruptcy Attorney Lexington KY |  May 24, 2015 – 03:04 am

experienced bankruptcy attorney Lexington KY Looking for an experienced bankruptcy attorney Lexington KY? You’ve come to the right place. Bankruptcy is a legal process that allows a person in unexpected financial difficulty — due to medical bills, being laid off, divorce, injury or other unforeseen economic hardship — to start putting their lives back together.

This can happen to anyone. Thousands of honest, hard-working people have found themselves in a position where bankruptcy is the best choice for themselves and their families.

Please read below and, if you think this might be your best option or you have other questions, call us at (859) 259-0727 to schedule a free, confidential consultation. Let our experience work for you.

Are there different kinds of bankruptcies?

Yes. In 2005 the law that governs bankruptcies was significantly revised and made the process of filing bankruptcy somewhat more complicated for consumers. Essentially, there are two main kinds of bankruptcies most people are likely to find themselves filing: a Chapter 7 or Chapter 13.

In a Chapter 7 bankruptcy, all non-exempt* assets are sold and applied to the debt. The remainder of the debt is then essentially wiped out. Please be aware that there are certain classes of debt, such as student loans, which are generally not forgiven as a result of bankruptcy.

A Chapter 13 bankruptcy is similar, except that a portion of your income over a period of time will be applied to the debt, then the balance will be forgiven. You will retain some non-exempt assets that would normally be liquidated in a Chapter 7 bankruptcy.

The process of determining which Chapter you should file can be a complicated one. This often involves questions of what types of assets you own or have an interest in. You will also want to determine what you would like your and your family’s financial future to look like.

*Your bankruptcy attorney will help you identify your non-exempt assets.

Who can file for bankruptcy?

Any individual who lives in the United States, and/or any business (such as sole proprietor-ships, partnerships, and corporations) which has been organized within the United States can file for bankruptcy.

What happens with my creditors once I file for bankruptcy?

One of the first things that happens when you file a bankruptcy case is the imposition of what is known as an “automatic stay.” That means all creditors are legally obligated to cease collection efforts. Harassing phone calls, letters, and any other action designed to collect on the debt must cease.

This is done to stop creditors from essentially racing to the courthouse to try to collect on the debt before another creditor can.

Normally, your creditors will be informed of your bankruptcy petition the moment it is filed and they will stop collection efforts. If creditors continue to contact you, you can inform them of the pendency of the case. If we are representing you, let us know that creditors are still trying to contact you and we will get in touch with them. If they persist, they may be subject to sanctions for violating the automatic stay.


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Talk with the family law facilitator.

I am a former Superior Court Mediator, and Child Custody Evaluator in Orange County. San Diego is similar in that they are a confidential county. The judge with undoubtedly order you to mediation to work on a schedule and custody agreement if you do not have one.
All of the Courts in California are "ordered" in a sense to make family court available for everyone even those who are "in pro per" meaning they are their own lawyer. Go and talk with the Family Law Facilitator, they are attorneys who work for the Courts to help folks like you. If your ex. is not working and has no income it may take longer to get a support order

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