How does a Chapter 7 Bankruptcy Discharge of debt work and what does it do in Kentucky. A bankruptcy discharge releases individual debtors from personal liability for most debts and prevents the creditors owed those debts from taking any collection actions against the debtor.
The process of filing for bankruptcy is complex and mistakes can result in serious penalties. To file for bankruptcy in Kentucky a petition for bankruptcy has to be submitted along with several schedules that lay out your assets and liabilities. A bankruptcy attorney can help you file more easily and without negative consequences.