There is a bankruptcy court for every judicial district in the United States, totaling ninety. Each state has one or more, Kentucky has two. The Eastern district is located in Lexington, Kentucky and the Western district is located in Louisville, Kentucky.
Each state offers varying bankruptcy requirements and laws, but the overall process is similar. When filing bankruptcy in Kentucky, all property of the debtor goes towards the payment to the creditors. There are specific areas of property that are excluded or exempt. These assets are divided into nine categories.
? Homestead- house and land
? Insurance- health policies
? Miscellaneous- alimony, child support, etc.
? Pensions- firefighter and police officer pensions
? Personal property- jewelry, burial plot, vehicle, etc.
? Public benefits- Unemployment and Disability
? Tools of the trade- depending on profession items could include, tools, equipment and office furnishings
? Wages- up to 75%
? Wildcard- $1,000 in any other property
You will fill out a legal financial evaluation where your credit report, income, assets and debts are reviewed. If eligible for bankruptcy, your attorney will provide you with bankruptcy chapter details and the process for bankruptcy. If you find that bankruptcy is in fact the most suitable option for finding debt relief you can begin the process. The main process of bankruptcy is administrative and carried mostly outside of the court. Talking to a Kentucky bankruptcy lawyer can begin your bankruptcy process and lead you towards financial freedom.
Finding a bankruptcy attorney can be as easy as opening your phone book. This is actually a successful place to begin so that you can familiarize yourself with the attorney choice in your area. By using the yellow pages of your phone book you can find several attorney listings and begin to narrow them down by their individual specializations. There should be a heading for bankruptcy attorneys in your phonebook. You can contact the attorneys that are closest to your location or choose those attorneys advertising free consultations.
Another helpful tool in finding an attorney is by searching online. By searching online you are able to find a bankruptcy lawyer for thirty-five cities in Kentucky, from Ashland to Winchester. You can pull up attorneys by state, city and law specifications. It?s very similar to using the yellow pages but often allows more detailed information on the attorney and their practice. Once you have found a list of attorneys you will want to research about their qualifications and the area of law in which they specialize. You want to find out how experienced they happen to be concerning bankruptcy cases and so on. You can contact these lawyers by phone or email to set up a free consultation where your specific financial situation will be reviewed.
Speak to each attorney and try to meet with him or her face to face. You need to know if this attorney is considerate about your financial concerns and whether or not you are comfortable when discussing your bankruptcy concerns and decisions about your case. When you begin to choose your attorney is sure that you are entirely confident that the attorney can represent you in the way you see fit. Fees and prices are important but not nearly as important as how comfortable you are with your bankruptcy attorney choice.
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