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Bryant Law PLLC > Practice Areas > Bankruptcy

If you have reached a point where your debt has simply become too overwhelming and it makes more financial sense for you to file for bankruptcy, you may be experiencing a large amount of mixed emotions, stress and anxiety being some of the strongest. Not to worry; we are here to help.


Chapter 7 bankruptcy is the most common type of bankruptcy that is filed; it allows that individual to get a fresh start free of debt.


Of course, the biggest concern for individuals who are considering filing for bankruptcy is credit repair following the filing process. A bankruptcy will remain on an individual’s credit report for ten years following the filing process, but thankfully the person’s credit score can begin to be improved within just a few years.


While bankruptcy is a great chance at a fresh start, there are certain debts that will not be removed by a chapter 7 bankruptcy filing such as student loan debts, alimony payments, or child support payments.


In order to file for chapter 7 bankruptcy, you must make below the median income. If you make an amount that is over the median income, you may still be able to file, given that you complete and pass the means test. The means test is used to determine if an individual has less than $100 of disposable income each month that they could use to repay creditors. If you are considering taking the means test in order to file for chapter 7 bankruptcy, it is always best to consult a bankruptcy lawyer to discuss your options.


After you file bankruptcy, you will then have a 341 meeting with the panel trustee who will be overseeing your bankruptcy claim. During this meeting, creditors have the option of objecting to your claim, and if no objections are raised, the bankruptcy claim is in most cases granted to the individual who is filing.


Our skilled attorneys are always here to help. If you are considering filing chapter 7 bankruptcy in Kentucky, give us a call to discuss your options.

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