In the United States, there are ninety bankruptcy courts, one for each of the judicial districts. Kentucky has two. Each state has at least one. The Western district is in Louisville, Kentucky, while the Eastern district is in Lexington, Kentucky.
Each state has different laws and requirements for filing for bankruptcy, but the overall process is the same. When a person in Kentucky files for bankruptcy, all of their assets are used to pay back their debts. Some parts of the property are not included or are exempt. There are nine different kinds of assets.
Asset Categories
Homestead is a house and land
- Health insurance policies
- Divorce payments, child support, and other things.
Pensions: pensions for firefighters and police officers
Personal property, such as jewellery, a burial plot, a car, and so on.
- Tools of the trade: Depending on your job, these could include tools, equipment, and office furniture.
- Unemployment and disability benefits for the public
Up to 75% of wages
- Wildcard: Put $1,000 in any other property
You will have to fill out a legal financial evaluation, which will look at your credit report, income, assets, and debts. If you are eligible for bankruptcy, your lawyer will explain the details of each bankruptcy chapter and how the bankruptcy process works. If you decide that filing for bankruptcy is the best way to get out of debt, you can start the process. The main part of the bankruptcy process is paperwork, which is done mostly outside of court. Talking to a Kentucky bankruptcy lawyer is the first step in the bankruptcy process and can help you get out of debt.
You can find a bankruptcy lawyer by just opening your phone book. This is a good place to start learning about the lawyers in your area. In the yellow pages of your phone book, you can find a list of lawyers and start to narrow down your choices based on what they specialise in. Your phone book should have a section for bankruptcy lawyers. You can get in touch with the lawyers who are closest to you or choose one who offers free consultations.
Searching online is another helpful way to find a lawyer. You can find a bankruptcy lawyer online for any of the 35 cities in Kentucky, from Ashland to Winchester. You can search for lawyers by state, city, and type of law. It's a lot like using the yellow pages, but you can usually find out more about the lawyer and their practise. Once you have a list of lawyers, you will want to find out what their qualifications are and what kind of law they specialise in. You want to know how much experience they have with bankruptcy cases, for example. You can call or email these lawyers to set up a free meeting where your particular financial situation will be looked at.
Talk to each lawyer, and if you can, try to meet with them in person. You need to know if this lawyer cares about your financial worries and if you feel comfortable talking about bankruptcy and making decisions about your case with him or her. When you start to look for an attorney, make sure you have full faith that he or she can represent you the way you want. Fees and prices are important, but not nearly as important as how comfortable you feel with the bankruptcy lawyer you choose.
