Filing for bankruptcy requires a considerable amount of effort on the part of the debtor. First you have to gathered all of the necessary information to file to file for bankruptcy. Then it is time to decide what property is exempt. Either on your own or with the help of an attorney, you should determine which property you believe is exempt from seizure based on the Federal or Kentucky exemptions.
To actually file for bankruptcy, either you or your attorney, will need to file a two-page petition and several other forms at your Kentucky District Bankruptcy Court. These forms, collectively are referred to as the schedules. The various bankruptcy schedules ask you to describe your current financial status and recent financial transactions (typically within the last two years).
It is important to be completely honest and upfront on your disclosures. If your creditors or the judge feel or find out that you have not been entirely forthcoming in your bankruptcy filing, it could jeopardize the outcome of your petition.
If you are considering filing for bankruptcy you should contact a bankruptcy attorney to help you explore your options and make sure you file for bankruptcy in the right way. If you have questions about filing for bankruptcy or are interested in filing contact Rebecca Hurst of Hurst & Hurst Law at (859) 209-2101.
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