Filing for bankruptcy is a complex and confusing process.  The attorneys at Hurst & Hurst Law can help you navigate through the procedure.

What Is Bankruptcy?

United States Bankruptcy Law Firm Danville KYBankruptcy is a legal process available to people who are unable to pay their debts, which allows them to make a fresh financial start. It is a creation of federal law, and as such, is controlled by federal law and handled in the Federal Bankruptcy Courts. There are several different types of bankruptcy options available. If you have questions about the different types of bankruptcy available contact a qualified bankruptcy attorney can answer your questions.

What Does Filing Do?

When a Petition for Bankruptcy is filed it stops creditors from collecting debts, at least until after a person’s debts are sorted out according to applicable laws. It allows people to discharge or eliminate the obligation to repay some or all of their debts.

Filing A Bankruptcy Petition:

  1. Stops foreclosure proceedings on a person’s home and allows a debtor an opportunity to catch up on missed payments (it is important to note that bankruptcy does not automatically eliminate mortgages and other liens on property)
  2. Stops repossession proceedings on vehicles or other property and can even force lenders to return repossessed property to the debtor
  3. Can halt wage garnishments, debt collection harassment, and other similar actions by creditors
  4. Can restore service or prevent termination of utility services
  5. Allows an individual to challenge the claims of creditors who have committed fraud or are attempting to collect more for a debt than what is actually owed

While bankruptcy can discharge most types of debt it is important to note that not all forms of debt can be discharged during this process.  An attorney can help you determine what types of debt are dischargeable and what types are not.

How We Can Help You

Rebecca Hurst Attonrey at LawIf you are facing foreclosure you should seek legal counsel quickly to best protect your home and other assets.  The process to file can be complicated and time intensive.  If you are thinking of filing for bankruptcy, contact the attorneys at Hurst & Hurst Law. The advice and help of a competent attorney, experienced with applicable laws and procedure, can help you determine if bankruptcy is the best option for you. If you think you need to file or have questions about filing contact an attorney at Hurst & Hurst Law at (859) 209-2101.