Legal Question in Bankruptcy in Kentucky

I know a couple that has declared bankruptcy four times. They just laugh about it. They go out and run up big bills over the years then go bankrupt and no one says anything. I have been out of work for a year, I am behind in all my bills aprox 40,000 credit card. I wanted to declare bankruptcy but was told I can't. Seems I only owe 9,000 on my house and everyone says if I declare they would make me sell my house first to pay the bills but some people spend spend spend then go bankrupt on purpose and it's ok. Tell me where that is fair.


Asked on 9/23/10, 5:17 pm

1 Answer from Attorneys
Gregory Napier Troutman & Napier, PLLC

The U.S. Trustee's office invites people to report fraud and abuse of the system. You can go to the U.S. Trustee, Department of Justice website to learn more.

It sounds like you may benefit from at Chapter 13 bankruptcy where unsecured creditors would be paid most or all the balance. The benefit to you would be to control the payments over the course of 5 years and prevent any law suits. You would be paying principal rather than playing chase after high interest charges.

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Answered on 9/29/10, 7:44 am


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