Older Americans and Bankruptcy

Posted on April 6, 2018. Filed under: Uncategorized |

We are seeing more and more older folks in the office that are struggling with paying their bills and making ends meet, especially those on a fixed income. This recent article bears this out.  As expenses increase, monthly retirement payments, including social security, do not increase. That is a recipe for disaster.

There is no upper age limit on filing for bankruptcy. Although as more older folks visit us for help with bankruptcy, some do have retirement savings they want to protect. The good news is that if you file bankruptcy, you will, almost always, not lose your retirement savings. The only possible exception is if you had put a very large amount of funds into the retirement or 401k just before filing bankruptcy. The federal exemption laws, and most state exemption laws, do protect your retirement savings from going to pay your creditors. A few years ago, the United States Supreme Court ruled that the retirement exemption is very broad and applies to most all types of retirement, including ESOP’S, or employee stock ownership plans. This was great news for consumers. When you meet with an attorney, be sure to disclose all types of retirement plans that you currently have, as the law is constantly changing.

As with any issue involving bankruptcy or your finances that you are concerned about, I urge you to contact the nearest, well qualified bankruptcy attorney to answer your questions. In our office, we offer a free, one hour consultation to discuss your issues.

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Will you get to keep your tax refund money if you file bankruptcy ?

Posted on March 7, 2018. Filed under: Uncategorized |

Kentucky Bankruptcy Attorney - Call Toll Free Today 1-888-651-9353 or 270-651-7777

It is the time of year for tax refunds. We have questions from folks as to whether they can file Chapter 7 bankruptcy before filing taxes and still keep their tax refunds coming to them after they file bankruptcy or whether they can keep a tax refund received right before filing bankruptcy.

The answer is that they generally can keep their refunds, depending, of course, on how large the refund is. The general bankruptcy exemptions available under the federal bankruptcy exemptions (which we can use in Kentucky) are usually large enough to protect most tax refunds from being lost to the trustee. You can also use your tax refund to pay the fees and costs for the bankruptcy.

Also, if you are thinking about filing bankruptcy, and are going to use your tax refund to pay off a debt to a family member or creditor prior to filing bankruptcy, you…

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Letting A Home Go Back in Bankruptcy

Posted on February 13, 2018. Filed under: Chapter 7 Bankruptcy, Consumer Alerts, Uncategorized | Tags: , |

We have found in our office that surrendering a home is one of the hardest things for clients to consider doing.  We all get emotionally attached to our home, often because that is where our children were raised or it is family property.  It is very difficult to consider letting your home go back, but it is often the economically sound thing to do for your future.

We would also add that in our area of Kentucky, we have many folks that have financed a manufactured or mobile home and land together and owe much more than the manufactured or mobile home is worth, even factoring in the value of the land.  Manufactured or mobile homes most often depreciate in value, thus never allowing folks to build up equity in them.  In these cases, surrendering the manufactured or mobile home is often the wisest thing to do.

A home can be surrendered to the bank or mortgage holder in Chapter 7 Bankruptcy and the debt owing on the home is then discharged, or eliminated.

Finally, often  a Chapter 13 Bankuptcy can be used to save a home where the debt on the home is behind, should you choose to.

To look  at your options in regards to your home debt, contact an  experienced bankruptcy attorney.

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The New Chapter 13 Plan in Operation: The Good, The Bad, and The Ugly

Posted on January 5, 2018. Filed under: Uncategorized |

A Chapter 13 Bankruptcy Trustee in Kentucky Gives Her Initial Review of the New Form Chapter 13 Bankruptcy Plan in Operation.

Chapter 13 Trustee, EDKY: Trustee's Blog

The new chapter 13 plan form has been in use for a month now.  I’ve looked at about 125 plans, mostly from Best Case and CinCompass, with a few prepared in MS Word.  Some aspects of the plan form work well, but attorneys for debtors and for creditors need to be aware of common glitches and errors to watch for.


1) These boxes on page 1 of the plan are almost always checked correctly:plan notices included not includedI have seen a handful where all of the “included” boxes are checked, but none of the provisions is actually included.  A mistake or an exercise of caution?

2)  With plans prepared using a software program, if a section is marked “none,” the rest of the section is not reproduced.  A 10-page form can be condensed into a much shorter plan to be printed and served. if none is checkedTHE BAD:

1) The total amount of plan…

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A New Year, A Fresh Start !

Posted on January 1, 2018. Filed under: Uncategorized |

Today we begin the new year of 2018. However you celebrate the new year, welcome it as an opportunity to begin anew.

When you consider the bills you owe, the first of the year can be a great time to consider getting a fresh start and putting some of those bills behind you. There are many options to assist you and an attorney can review those options with you. Chapter 7 or Chapter 13 bankruptcy may be one of those options.

We are now accepting new clients for bankruptcy for the coming year. Give us a call today to discuss your financial situation. Call 1-888-651-9353 toll free to schedule your no obligation, no hassle, free visit with us ! We look forward to helping you get a great beginning to the new year !

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Merry Christmas and Happy Holidays from all of us at Kentucky Bankruptcy Attorney John Rogers

Posted on December 15, 2017. Filed under: Uncategorized |



As the weeks of Christmas and the Holidays are upon us, please take the time to enjoy visiting with family and friends and fully appreciate the comfort brought by that fellowship. Set your cares aside, if only for a day. Merry Christmas and Happy Holidays to all !

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Keep updated on the latest info in Bankruptcy Law

Posted on November 7, 2017. Filed under: Uncategorized |

via Register Today for NACBA’s 2017 Virtual Bankruptcy Workshop

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Do creditors have you cornered ? What is Bankruptcy and how does it work ?

Posted on July 27, 2017. Filed under: Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Consumer Alerts, Uncategorized | Tags: |

Before filing a bankruptcy case, you and your attorney should analyze your eligibility for different forms of debt relief available under the Bankruptcy Code and which form of relief is most beneficial to you. Be sure you understand the relief you can obtain and its limitations.

To file a bankruptcy case, documents called a Petition, Schedules, and Statement of Financial Affairs, as well as in some cases a Statement of Intention need to be prepared correctly and filed with the bankruptcy court. You will have to pay a filing fee to the bankruptcy court.

Once your case is filed, you will have to attend a first meeting of creditors where you will be questioned under oath by a court official called a “trustee”. At this meeting you may also be questioned by your creditors.

If you choose to file a Chapter 7 case, you may be asked to reaffirm a debt. You may want help deciding whether to do so. A creditor is not permitted to coerce you into reaffirming debts.

If you choose to file a Chapter 13 case in which you repay your creditors what you can afford over a 3 to 5 year period, your attorney will help you in preparing your Chapter 13 plan and with the confirmation hearing on your plan which will be before a Federal Bankruptcy Judge.

If you select another type of relief under the Bankruptcy Code other than chapter 7 or chapter 13, you will want to find out what should be done from someone familiar with that type of relief.

To get started, be sure and meet with an attorney that is experienced with filing bankruptcy cases. Most attorneys will offer a free, no obligation first meeting to explain the process and see if bankruptcy can help you.



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Credit Counseling or Debt Consolidation ?

Posted on July 22, 2017. Filed under: Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Consumer Alerts, Consumer Bankruptcy Attorney, Uncategorized | Tags: , |


Are you considering debt relief through a consumer credit counseling  or debt consolidation service ?

You may be surprised to learn that they can do more harm than good to your credit.  Many times, bankruptcy is a better option, and we will be happy to sit down with you and thoroughly discuss your personal financial situation in order to help you decide what is the best solution for your financial problems.

In analyzing your particular situation, we always consider if there is an alternative to filing bankruptcy.  The decision to file bankruptcy is a difficult choice for many people to make.

A bankruptcy will affect, in some fashion, your future credit.  Bankruptcy, though,  does not totally destroy your ability to get credit in the future.  The decision to file bankruptcy must be carefully made in consultation with an experienced bankruptcy attorney.

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Repossessed Vehicles and Bankruptcy

Posted on July 20, 2017. Filed under: Uncategorized |

Attorney Bob Litchfield of California gives a great description of the perils you face if your vehicle is repo'd and then sold. As he says, you could be facing tremendous debt even after the vehicle is sold with what's called a "deficiency balance". You may be able to use Bankruptcy to discharge this debt. Watch the video below for his description, which applies to any state.


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