Thank you for visiting the Northern Kentucky Bankruptcy Center.  As a Bankruptcy Attorney in Northern Kentucky my focus is to give you enough information on the website to answer some of the basic Bankruptcy questions that you may have and then provide you with a FREE Consultation to discuss your unique situation.  Every Financial situation is unique with the different set of factors that has lead to your current situation.  While each Financial situation is a little different the basics all still apply.  Bankruptcy is a major event in your life and if not handled properly can have a major impact on your future.  Experience is on my side and now it can be on your side as well.  Use my years of Bankruptcy experience to your benefit as you deal with this difficult situation.

My Focus is to help you through the Bankruptcy process and limit the amount of unnecessary stress that comes along with these types of life changes.  I can help with any of the following types of cases and many more not listed.

Bankruptcy Attorney in Florence, KY

If you are considering filing for Florence, KY, bankruptcy, attorney representation is necessary. Contact the Cynthia R. Clausen Law Firm to get answers to any questions you may have during this complex process.

With more than 12 years of experience in the legal field, and our superior staff that stays up-to-date on the latest rules for bankruptcy our Northern Kentucky Law Firm can support any situation that you may come across.  That’s why we encourage you to schedule a time to meet with us. Our schedule is flexible, with evening and weekend appointments available.

When you arrive at your free initial consultation, we can counsel you on whether a Chapter 7 bankruptcy or a chapter 13 bankruptcy would be a better fit for your family.  Our history in dealing with Boone County Kentucky Bankruptcy has left us with a great understanding of what the trustee will likely allow you to keep after the bankruptcy, and which debts can be included in your bankruptcy filing. We want to make sure that you feel prepared for this process so we take the necessary steps upfront prior to filling to thoroughly explain the situation and possible outcomes.   You can also rest assured that we will keep you updated on your case and where it is at during the bankruptcy process.

Our staff is not only up-to-date on legal knowledge, but also we are:

  • Friendly
  • Client focused
  • Experienced

We realize that this is a major life event that you will need to think carefully about. That’s why we are here to offer both support and legal guidance every step of the way. If you are ready to hire a skilled Florence KY bankruptcy attorney, contact Cynthia R. Clausen Law Firm at your earliest convenience.

The prospect of declaring bankruptcy is a daunting one, and something you shouldn’t have to face alone. Whether you’re looking at Chapter 7 bankruptcy or Chapter 13 bankruptcy, the attorneys at Cynthia R. Clausen Law Firm can help you during this stressful time in your life.

At Cynthia R. Clausen Law Firm, we know that while every bankruptcy proceeding is unique, most people feel intimidated when filing. The paperwork involved in bankruptcy cases can be quite confusing, and, more often than not, your creditors will have teams of lawyers behind them.

Learn more about the different bankruptcy options below:

  • Chapter 7
  • Chapter 13

To schedule a free consultation, please call Cynthia R. Clausen Law Firm today at 859-371-7979 or contact us online.

 

Chapter 13 Filing Details and Deadlines

When an individual files chapter 13 bankruptcy in Northern Kentucky, automatic stays may be issued to stall certain collection actions against that person. At this time, creditors cannot continue or generate lawsuits, contact the debtor, or garnish any wages.

  • File your petition with your completed paperwork to the bankruptcy court.
  • You will have 15 days to file certain requested information with the court, such as details about assets, income, and expenses. The same 15 day period also applies to the official filing of your repayment plan.
  • 20-50 days after you have filed your chapter 13 petition, the trustee will conduct a meeting of creditors. You will be responsible for attending this meeting to answer questions.
  • Attend your creditor hearing & confirmation hearing and note your payment schedule.
  • Continue to make your monthly payments the courts required to the Court appointed Trustee until the final payment is made.
  • Upon completion of the payments you will receive discharge papers that will tell you the bankruptcy is complete.

Click Here for more details.

 

Chapter 7 Filing Details and Deadlines

You will need to complete mandatory credit counseling before filing your bankruptcy petition. The credit counseling group must be bankruptcy trustee approved. Gather as much information as possible regarding your exempt assets, income and expenses details, and any debts that will be included in the bankruptcy.

  • File your bankruptcy petition and the paperwork with the appropriate bankruptcy court (where you live or where you own your business).
  • 7 days prior to your creditors meeting, send copies of your paycheck stubs and your tax return to the bankruptcy trustee.
  • Around 20 to 40 days after your petition has been signed, your creditors meeting will be held.
  • Take your Personal Financial Management Instruction course within 45 days of the creditors meeting. If you miss this step, your case could be dismissed.
  • Wait to receive the official notification of discharged debts.

Bankruptcy can be complicated and each case is unique, which is why it’s so important to work with a qualified lawyer. Contact the offices of Cynthia R Clausen, Attorney at Law today to discuss your bankruptcy case.  Click Here for more details.

 

Frequently Asked Questions Surrounding Bankruptcy

 

What’s the difference between Chapter 7 and Chapter 13 bankruptcy?

Although both of these must be filed in federal bankruptcy court, chapter 7 requires the liquidation of all non-exempt assets, whereas chapter 13 allows those individuals with steady income to keep certain property (like a car or a house). Another primary difference is that chapter 7 lasts for approximately 3-4 months, and during this period the individual makes no payments to the court itself. Chapter 13 lasts longer, typically from 3-5 years, and the individual is required to make monthly payments to the court.

 

How can I stop harassing creditor phone calls?

Once your bankruptcy case has been filed, bill collectors are required to stop attempting to contact you. At this point, they will have to communicate only with your Northern Kentucky lawyer. Although bill collectors are required to comply with the law when it comes to when and how they contact you, many times they violate these rules.  Having a good Northern Kentucky bankruptcy attorney will help you to understand your rights and what the creditors can not get away with.  Our support will make your life much easier and can give you relief from the harassing phone calls.

 

Will I lose my house?

Whether you’re able to keep your house or not depends on the equity in the home and the type of bankruptcy you file.  The main question to ask yourself about your current home is whether you can actually afford the property.  The purpose of  a bankruptcy is to FREE you from having more bills than income and the stress related to it.  Keeping a home that you can not afford will not fix your financial situation.  Typically the Judge will not sign off on a situation where the home is too expensive for the income of the person or family filing.    Each situation is unique based on Property values and amounts owed on the current loans.

If you are behind on your mortgage payments keeping the home becomes very difficult in a Chapter 7 bankruptcy but in a Chapter 13 bankruptcy payments that are behind are rolled into the monthly payment made to the assigned Trustee during the 3-5 years of payments that is decided by the courts.  Since each situation is different once we have your full details we can analyze what is your best options with the Bankruptcy Courts in regards to your home.

 

Will I lose my retirement accounts?

For the most part, retirement accounts are exempt from bankruptcy. In Chapter7 bankruptcy, the majority of retirement and pension plans are protected, and in Chapter 13 bankruptcy, retirement accounts are not considered in the determination of how much you will repay any unsecured creditors during your Boone County bankruptcy.

  • Exempted Retirement Plans
  • Keoghs
  • 401(k)s
  • 403 (b)s
  • IRAs (ROTH, SIMPLE, SEP)
  • Defined benefit plans
  • Profit-sharing plans
  • Money purchase plans

 

Popular Bankruptcy Myths

  • Bankruptcy discharges all debts. Some kinds of debt are actually not discharged by bankruptcy, like child support, alimony and Student loans.
  • Bankruptcy will permanently destroy your credit rating. Secured credit cards regularly become available to bankruptcy filers shortly after they take action. It’s recommended that you take on a secured credit card at some point to build your credit up again.  If you pay your bills after the bankruptcy is complete you can rebuild your credit gradually to a great credit rating.  The bankruptcy will only show on your credit report for a maximum of 10 years no matter what.  This will of course help in the reestablishing higher credit ratings
  • If you spent a large amount of money right before filing bankruptcy, that debt will be wiped out. If the court suspects that you did this, you might be facing fraud charges. That amount is usually not discharged.