Chapter 13 & Chapter 7 Bankruptcy Attorneys in Fayette County
With over 100 years of combined experience serving Lexington and Central Kentucky, we understand how bad financial situations can happen to good people. We extend understanding, compassion and knowledge to help individuals overcome financial strain. If you are experiencing financial difficulty, call us today to schedule your free bankruptcy consultation.
Filing Bankruptcy in Kentucky
When you’re struggling with debt, it can feel like there’s no way out. But with the help of experienced attorneys at Atkinson, Simms & Kermode, you can file for bankruptcy and get on the road to financial recovery. Our team is dedicated to helping Lexington, Versailles, Georgetown, Nicholasville and Winchester Kentucky residents find the best debt relief solution for their unique situation. We’ll work tirelessly to get you back on your feet financially and ensure that you can start rebuilding your life.
We have filed hundreds of chapter 13 and chapter 7 bankruptcy cases all over Kentucky, including Pikeville, Somerset, Frankfort or Hazard. Our central location, combined with available online and phone consultations, means we can help you file your bankruptcy no matter where you live.
Common Questions About Bankruptcy In Lexington, KY
| CHAPTER 7 | CHAPTER 13 |
|---|---|
| We use a formula to determine your eligibility to file a Chapter 7 bankruptcy. This formula is based on your income, property, assets and debt you owe. | To file a Chapter 13 bankruptcy, you must have some form of income. Often, debts can be restructured into payments you can afford. |
| CHAPTER 7 | CHAPTER 13 |
|---|---|
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| CHAPTER 7 | CHAPTER 13 |
|---|---|
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| CHAPTER 7 | CHAPTER 13 |
|---|---|
| No, but it can delay it. However, the house or property will eventually be sold. | Yes, but you must continue to make your mortgage payments after you file. |
| CHAPTER 7 | CHAPTER 13 |
|---|---|
| After filing, the process will take three to four months. | After filing, the repayment plan will take three to five years. |
| CHAPTER 7 | CHAPTER 13 |
|---|---|
| The bankruptcy will remain on your credit report for up to 10 years. However, often you can get a credit card or automobile loan after your discharge. A house loan usually takes two years after discharge. | The bankruptcy will remain on your credit report for seven years from the filing date. It is possible to borrow money, but you must get permission from the court. |
| CHAPTER 7 | CHAPTER 13 |
|---|---|
| Although a debt has been discharged, there may be a circumstance in which you want to keep that debt and continue to pay. (Example: a car loan) In order to do so, you must promise to pay the debt and file a reaffirmation agreement with the court. | N/A |
