Louisville Bankruptcy Attorneys
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Our Louisville bankruptcy attorneys have 20+ years of combined experience helping clients get relief from debt, rebuild credit, and start fresh.
Is Bankruptcy Right for you?
Chapter 7 vs. Chapter 13 Bankruptcy
If you feel that you are overwhelmed by debt because you cannot afford your expenses, you are at risk of getting garnished due to a lawsuit, or your home is in foreclosure filing for bankruptcy can likely provide the relief you have been looking for. During your free initial consultation, we will get to know the details of your unique situation and go over the pros and cons of each type of bankruptcy filing for you.
There are two bankruptcy chapters for individuals: Chapter 7 and Chapter 13, but in both types most all debts are discharged at the end of the process.
A Chapter 7 is often referred to as a total bankruptcy. In general, filing a Chapter 7 can eliminate most all debts for those who qualify. However, there are certain debts that cannot be eliminated under a Chapter 7 bankruptcy and there are some individuals who may not qualify for a Chapter 7 bankruptcy filing. Our attorneys assess each unique situation on an individual basis before determining whether Chapter 7 bankruptcy is an option.
A Chapter 13 bankruptcy is often referred to as a debt consolidation or repayment plan. This chapter can help individuals keep their home or their car even if they are behind on payments, can often lower or eliminate interest rates, and provide you with one monthly payment based on what you can afford to pay. Most Chapter 13 bankruptcies are a three to five year repayment plan. At the end of your plan, whatever debt you have not repaid in the plan will be eliminated. During your free initial consultation, we will put together a detailed estimate of what your monthly plan payment would be.
Bankruptcy isn't the end of the world. In fact, it can be the first step to a brand new beginning for you and your family. It can be hard to determine which type of bankruptcy is your best option unless you have spoken with a bankruptcy attorney who has considered your complete financial situation. At Thornhill & Holt we can help determine if a Chapter 7 or 13 bankruptcy will give you the financial relief you are looking for.
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Get friendly hometown help today!
We truly care about the Louisville, KY community and love helping our clients. We're not another one of those typical stuffy law offices. Reach out to find out how we can help you today!
Thornhill & Holt, PLLC - Bankruptcy Attorneys
2125 Old Shepherdsville Road, Louisville, Kentucky 40218, United States
Hours
Open today | 09:00 am – 05:00 pm |
