Bankruptcy

Chapter 7 is a form of personal bankruptcy that can serve as debt relief for individuals and small business owners overwhelmed with payments with which they are struggling to keep pace. Also known as "liquidation bankruptcy," Chapter 7 can temporarily excuse you from...

Bankruptcy does not have to ruin your credit score. Though you might suffer from a temporary penalty, you can take steps to improve it in the short and long term. Unfortunately, damaging your credit score is much easier than increasing it. Never give up on improving...

When financial hardships become unbearable, bankruptcy may offer the solutions and protections you need. In addition to discharging debt, hundreds of thousands of Americans benefit from all the additional ways that Chapter 7 bankruptcy can help them. There is a lot...

For many small business owners, their personal finances and the financial strength of the organization are one and the same. Unfortunately, numerous circumstances can lead them down a perilous path. From divorce and a down market to medical emergencies and a global...

When overwhelmed by debt, it may seem like there is no way out. You may be dealing with debt collectors calling and creditors sending you notice of various types of collection efforts, such as wage garnishment. While it may seem like a hopeless situation, there is...

Most Kentucky consumers use credit cards, but this form of debt can lead to serious financial struggles. Overuse can lead to credit card debt that a consumer may not be able to pay on his or her own, and these problems can affect other areas of one’s financial life as...

Bankruptcy laws help U.S. citizens recover from financial hardship. This government system helps give people a second chance by mitigating debts and building a repayment plan. To do this properly, those filing for bankruptcy must first undergo a financial evaluation....

Many residents in Kentucky find themselves struggling to make ends meet every month and to keep up on all of their bills. When evaluating their options, they may consider filing for bankruptcy.  When deciding whether or not to file bankruptcy, a person may need to...

Gray bankruptcy refers to bankruptcies filed by senior citizens, i.e., those over the age of 65. The New York Times reports that bankruptcies filed by people in this age demographic have increased from 2.1% of overall bankruptcies in 1991 to 12.2% in 2018. If you fit...

When you file for Chapter 7 personal bankruptcy, you must list all of your assets and debts. This is so that the court can then decide which assets to liquidate in order to pay off the largest amount of debt possible. Unfortunately, you have no control over the...