Legal Question in Bankruptcy in Kentucky

I have been out of work since May 2009. aprox 42,000.00 in credit card, 6500.00 in line of credit loans

and first morgage is paid but owe 10,000.00 on second mortgage . Can I declare bankruptcy?


Asked on 5/01/10, 6:54 am

2 Answers from Attorneys
Eric Craig Hayden & Craig PLLC

Yes it is possible for you to declare bankruptcy. You will need to have an assessment completed on your financial situation.

You can contact us at Hayden & Craig PLLC for a free initial consultation.

Our number is 502.638.2836

Regards,

Read more
Answered on 5/06/10, 7:08 am
Gregory Napier Troutman & Napier, PLLC

From what you have described almost certainly can file a Chapter 7. The real question is not "can I?" but "when?". Some bankruptcy practitioners usher people into a bankruptcy too quickly and miss the prime opportunity when it will do the person the most good. This is especially importat when a person is out of work. I typically will meet with a person to get a full picture of what is going on and then lay out their options and the pros and cons of each scenario and then let them decide if they want to use my law firm or shop around.

Read more
Answered on 5/06/10, 8:23 am


Related Questions & Answers

More Bankruptcy Law questions and answers in Kentucky