What Does A Chapter 7 Bankruptcy Discharge 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.
Because a Chapter 7 discharge is subject to many exceptions, debtors should consult competent legal counsel before filing to discuss the scope of the discharge.
Generally, (excluding cases that are dismissed or converted) individual debtors receive a Continue reading
Benefits Of Filing For Bankruptcy: Automatic Stay When You File
One of the benefits of filing for bankruptcy is the automatic stay. Once you have filed your paperwork with the Bankruptcy Court, an automatic stay immediately goes into effect.
The automatic stay provision prevents creditors from making direct contact with you. As well as prohibiting them from staking a claim on any of your property from the day of filing forward. That means it will stop an foreclosure or repossession proceedings. The automatic stay also stops any harassing contact from credit agencies. And stops any garnishments that are coming out of your paycheck. Continue reading