At Vidmer Law Office, we assist individuals and small businesses in bankruptcy matters. We have more than 15 years of experience assisting clients in Kentucky with Chapter 7 bankruptcy. If you are considering bankruptcy, contact us by e-mail or call us to schedule your free initial consultation.
The troubled economy has impacted countless Americans. When the financial strain becomes too great, many turn to bankruptcy to provide the relief they need. Unfortunately, individuals often delay in making the decision to contact a bankruptcy attorney. They wait until harassment from creditors becomes intolerable to seek relief. If you and your family would benefit from a fresh start, you should contact our office. We can help.
Chapter 7 Bankruptcy
Bankruptcy laws exist to help people get the fresh start they deserve. There is no shame in using those laws to protect yourself and your loved ones.
Chapter 7 bankruptcy is a powerful tool for helping people discharge unsecured debt. The most common types of dischargeable debt are credit card and medical debt. Pay day loans and cash advance loans are also dischargeable in most circumstances. These debts can pile up quickly and unexpectedly. Many clients find themselves unable to keep up with even the minimum payments as these debts accumulate.
What to Expect
Once the decision to file for bankruptcy is made, many clients are amazed at how quickly their situation improves. An Automatic Stay stops the harassment from creditors. We can often stop wage garnishment and foreclosure proceedings, as well. Most clients are able to keep all of their property, both real and personal. Of course, if there is a lien or mortgage on the property and you want to keep it you must continue to make the payments and reaffirm the debt.
At the end of process, you get a fresh start. You can breathe easier. You get to start over without the pressure of so much debt pressing down on you. While every situation is unique, the process is often resolved in a matter of months.
When will I be able to obtain credit again?
Usually within a year of receiving your discharge your credit score will improve. This is especially true if you have been delinquent on payments prior to filing your Bankruptcy case. Your debt to income ratio will improve which shows creditor you have sufficient income to repay debts. If you reaffirm any debts and make those payments on time very month this will also help improve your credit worthiness.
We maintain offices in Paducah and Murray to serve clients throughout the region. To schedule your free initial consultation, call or e-mail us today. We offer weekend and evening consultation, by appointment.