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 into a little more depth about how to file bankruptcy in KY.
How to File Bankruptcy in KY
- Consider Your Options and Make Decisions
When filing bankruptcy in Kentucky, it’s a good idea for you to talk to an attorney you can trust. A good bankruptcy attorney will let you know your options and help you through the decisions that are part of the bankruptcy process. You might feel like you’ve been backed into a corner, but the right attorney can help you find your options.
- Get Your Creditors to Leave You Alone
The most important part of the bankruptcy process is filing your Chapter 7, Chapter 13, or other bankruptcy category. This will protect you against the tactics, legal and illegal, that creditors use to force you to pay your debts. Filing bankruptcy in the right way allows you to free yourself from the bother of the debt collectors.
- Avoid Mistakes
It is easy to make mistakes in the process of filing for bankruptcy in Kentucky, especially if you’re not trained in the law. Following the advice of a trusted Kentucky bankruptcy lawyer allows you to protect yourself from this danger. Costly mistakes can leave you in a worse position than you’re already in. Get legal help and make the best of your situation.
- Protect What You Can
The good news is that you will probably be entitled to certain protections and exemptions under Kentucky law. This means you’ll be able to prevent your creditors from taking possession of some portion of your property. In many circumstances, you will be entitled to state or federal exemptions—this is an important decision you’ll need to make with the help of your attorney.
- Get Your Life Back
It’s not easy to get back to a normal life after learning how to file for bankruptcy in Kentucky, but it can be done. This is where you really see the difference between a Kentucky bankruptcy attorney who is committed to your well-being and one who isn’t. The right bankruptcy attorney for you will help you through the process of getting your life back together after the bankruptcy goes through.
Seek Legal Advice
The steps we listed above are important, but there is much more to know before you pursue a successful Chapter 7 bankruptcy filing. If you are considering filing for Chapter 7 bankruptcy, Chapter 13 bankruptcy, or any other type of bankruptcy protection in Kentucky, please reach out to Bunch & Brock first. Our experienced lawyers provide valuable advice and legal representation on how to file for personal bankruptcy in Kentucky.
