What is it really like to file a Chapter 13 bankruptcy in Louisville, Shepherdsville, Mount Washington, Shelbyville, Taylorsville, Radcliff, Elizabethtown or Jeffersontown Kentucky? Unfortunately, bankruptcy has gotten a really negative reputation when the fact is filing a Chapter 13 provides the most flexibility in resolving financial challenges, keeping your house and car (if you wish) and getting into a much stronger financial position.
Bankruptcy isn’t something to be ashamed of. It’s a legal tool that has been provided to us as citizens to put a stop to the constant harassment and threats of creditors and protect what is most important. It is a fresh start.
Bankruptcy isn’t a sign you have to wear around your neck everywhere you go. Your employer isn’t going to be notified. In fact, the only way the vast majority of your circle of friends and family will know you’ve filed for bankruptcy is if you tell them. There isn’t any public shame. None. This is a chance to get back on your financial feet and move forward toward a very productive future.
My name is John Schmidt and I’ve been serving the people of Jefferson, Bullitt, Hardin, Spencer, Shelby and Oldham counties for 25 years. As your bankruptcy attorney, I can help you to evaluate the options available to you under the law, analyze your present situation and make informed recommendations about the options you have to choose from.
Is Chapter 13 Bankruptcy the Right Decision for You?
How do you know if Chapter 13 bankruptcy is the right decision in your unique circumstances? The key question is probably do you want to keep your home or car? The good news is most who file for Chapter 13 bankruptcy get to keep the assets and property they want to keep and consolidate their monthly payments into a manageable 3 to 5 year plan.
You will need to have regular source of income. Chapter 13 is often described as a “wage-earners bankruptcy.” Are you behind on the mortgage payments? Is your house heading into or in foreclosure? As long as your home has not yet gone to auction, we can almost always help to put a stop to foreclosure and help you to keep your home.
There is a very structured process from the beginning of bankruptcy to the completion of your 3 to 5 year repayment plan. It’s not for everyone, but if you want to keep your home and/or car and need help getting your financial life back under control a Chapter 13 bankruptcy may be the right decision for you.
Do I Need an Attorney?
We are often asked not only “What is it really like to file a Chapter 13 bankruptcy in Louisville,” but “do I need an attorney?” Technically speaking, you don’t have to have an attorney to file for bankruptcy. Our clients find the support and guidance of the Law Offices of John Schmidt & Associates, PLLC to be helpful. We are there with you at every step. We help you to organize a substantial amount of financial and tax records and all of the paperwork needed to file your case.
We run the numbers for you to ensure you qualify for the Chapter 13 bankruptcy and help you to create the proposal necessary to submit a repayment plan that allows you to protect your home and/or car and all of the things that are important to you. We can help you to understand those debts that must be repaid, versus the types of debt which can potentially be substantially reduced or discharged altogether. We help you to build a strategy for the debts you will “reaffirm” outside of the bankruptcy and those that will be managed as part of the repayment plan.
We are also with you after the filing to help answer any questions and to address the types of challenges that might come up down the road. What do you do if you lose part or all of your income or face other challenges that seem to prevent you from staying on track?
What is it Really Like to File a Chapter 13 Bankruptcy in Louisville
What is it really like to file a Chapter 13 bankruptcy in Louisville or the surrounding communities? It is a breath of fresh air. It puts a stop to all of the noise and pressure from creditors and provides the opportunity for you to regain control of your finances. If you earn a regular income you will probably be able to keep your home and/or car and protect the other assets that are important to you.
Are you looking for the right bankruptcy attorney to help you put a stop to the harassment of creditors, keep your home and car and move forward with your life? We invite you to contact us via e-mail, schedule an appointment or call us today at (502) 509-1490 to get the answers you need and relief from financial challenges and creditors.
