Category: Bankruptcy

If you’re behind in your bills and fear you’ll be sued, you may be wondering, what is the statute of limitations on debt in Kentucky? The Kentucky statute of limitations on debt collection is a deadline for a lawsuit to be filed. You may have many valid defenses against a collection lawsuit. Depending on the facts, this may be one of them. The bankruptcy lawyers at Bunch & Brock have helped countless clients just like you handle their debts. Bankruptcy may or may not be the best choice for you, so call us at 859-254-5522 […]

If you are facing mounting debt with no end in sight, then you may be considering bankruptcy as a way to get back on your feet and pursue a fresh start. But then the question becomes: what is the difference between Chapter 7, 11 and 13? The type of bankruptcy you choose will depend on several factors, including your current income, your future goals, and whether you’re seeking a personal or business bankruptcy. All bankruptcy is governed by federal law (rather than state law), which is commonly referred to as the Bankruptcy Code.  The purpose […]

Estate Planning for Blended Families   Estate planning for blended families can be tricky, especially if there are children, step-children and half-siblings involved.  A married couple often wants to make sure all children are accounted for and taken care of in future years, though sometimes in different ways.  In addition, a couple may have aging parents, other family members, trusts and charities that they want included in an estate plan.  This is when it’s time to call a skilled estate planning attorney.  There’s a lot to know about taxes, trusts, wills and other financial instruments, […]

If you’re a creditor, you may prefer not to deal with preference actions under bankruptcy. When you hear the word “preference,” you probably think it’s a good thing; it’s what you want or like. When it comes to bankruptcy, depending on your position in the proceeding, a preference action may or may not be what you want. Bankruptcy is a fact of life for some Kentucky businesses, whether your industry is as old as coal mines or as new as legal hemp production. It could be the beginning of the end of a company, such […]

Based in Lexington, KY, our wage garnishment lawyers can help you protect your rights and be your first line of defense. Contact us today by calling 859-254-5522.

If you have accumulated more debt than you can reasonably afford to pay, filing for bankruptcy is often the best option. When you file for bankruptcy, you are able to get out from under the debt and ensure a better financial future for yourself and your family. However, the bankruptcy will have a negative effect on your credit score. Fortunately, you can take steps to rebuild your credit after bankruptcy. If you’ve gone through a bankruptcy or are likely to go through one in the near future, it’s important for you to know how to […]

If you’re thinking of filing for Chapter 7 bankruptcy, you probably already know that the standard process is to liquidate (sell) your property. Property exemptions allow you to protect some of your property from being liquidated to repay your creditors. In Kentucky, you have the option of choosing between federal and state exemptions when you file for Chapter 7 bankruptcy. The federal exemptions are generally more favorable to you than the state exemptions, so in the list below you’ll find a list of the federal exemptions that can apply to your Chapter 7. Chapter 7 […]

If you are considering filing bankruptcy in Kentucky, this is going to be a difficult and confusing time. Sometimes things happen in our lives that we can’t help. A sudden layoff, a business mishap, or an unexpected medical crisis can always threaten a person’s financial stability. Through no fault of your own, you could be facing financial troubles. This is probably the first time in your life you’ve ever been thinking about filing bankruptcy. If you’re considering filing bankruptcy, it’s important for you to know the right way to go about this process. Let’s get […]

If you fall behind on loan payments for a car, truck, or other vehicle, the creditor has a legal right to repossess this property. For people struggling with finances due to a temporary set-back, losing transportation this way can be devastating. It is certainly difficult to earn necessary wages when you lack reliable transport to get to and from work. If you understand repossession laws, you can take steps to prevent seizure of your vehicle or get your automobile back as soon as possible. What are the repossession laws in KY? Below you will find […]

Financial support for children is of primary importance, and Kentucky gives child support obligations priority in any bankruptcy proceeding. Filing for Chapter 13 or Chapter 7 personal bankruptcy will not discharge child support arrearages or put a stop to a payee’s obligation to continue monthly payments. It is very important for child support, as well as alimony payments, to continue throughout bankruptcy proceedings. If court-ordered support stops, it can lead to garnished wages and other consequences, including suspension of the driver’s license or even incarceration. Note that if a Kentucky bankruptcy filer lacks resources to […]