BANKRUPTCY ATTORNEYS IN LOUISVILLE, KENTUCKY

Debt can be unpredictable. While you may feel as though you’re on top of your payments, bills can begin to pile up in the blink of an eye. When it seems like you have nowhere left to turn, we’re here to show you that there is a light at the end of the tunnel. Bankruptcy can help you get there.

At Gorski Law Office, PSC, we’re well-aware of the stigma surrounding bankruptcy. While many equate this process with failure, we believe that it’s just the opposite. Filing for bankruptcy allows you to take back the power over your finances and start building a stronger future. There is no shame in asking for help—reach out to our attorneys in Louisville, Kentucky, today to discuss your options for overcoming your debt. We proudly assist individuals in La Grange, Shelbyville, Jefferson County, Oldham County, and Bullitt County, as well as Jeffersonville and New Albany, Indiana.

Which Chapter is Right for You?

Most individuals typically file for either Chapter 7 or Chapter 13 bankruptcy. Each chapter has distinct benefits and drawbacks, as well as unique eligibility requirements.

Chapter 7

This form of bankruptcy is both efficient and effective. Usually completed in just a few months, Chapter 7 bankruptcy allows for the elimination of most unsecured debts and some secured debts through the liquidation of your assets. Liquidation refers to the selling of your assets to pay back creditors. However, you will be able to maintain ownership of your exempt assets, which usually include your home, your car, and other essential items.

Because this form of bankruptcy does not involve a repayment plan, it is usually best for individuals who have a low income and few assets. To qualify for Chapter 7, you must pass the Chapter 7 means test, which takes your income and expenses into account. The best way to determine your eligibility with accuracy is to speak with a qualified legal professional. Reach out to our team at Gorski Law Office, PSC if you’re considering filing for Chapter 7 bankruptcy.

Chapter 13

In contrast to the liquidation process involved in a Chapter 7 bankruptcy, a Chapter 13 bankruptcy requires that you commit to a repayment plan to pay back some or all of your debts. The typical repayment plan spans three to five years. This form of bankruptcy allows you to keep all of your property, and gives you the chance to save your home from foreclosure or your car from repossession.

Chapter 13 bankruptcy is a more expensive option than Chapter 7, making it a good choice for individuals with steady incomes who want to maintain ownership of their property. For those who do not qualify for Chapter 7 due to their income or other factors, Chapter 13 can be an excellent way to get debt relief.

Why Choose Gorski Law Office, PSC to Lead You Forward?

Our attorneys have more than three decades of combined experience guiding people through the process of filing for bankruptcy. We understand the difficulties you may encounter, and we’ll be here for you from start to finish. Why? Because we truly care about your financial well-being. Every client who comes through our door is met with genuine compassion and personal service. Filing for bankruptcy is not easy, but we’ll do everything in our power to make it as painless as possible for you.

Give yourself the chance to overcome your debt and build a financially sound future. Schedule a free consultation with us today to discuss filing for Chapter 7 or Chapter 13 bankruptcy in Kentucky. We assist individuals in Louisville, La Grange, Shelbyville, Jefferson County, Oldham County, and Bullitt County, as well as Jeffersonville and New Albany, Indiana.