by admin on August 21, 2010
If you are sued it is important to see an attorney immediately before your wages or bank accounts are garnished or your real property property is attached by a judgment lien. Standard creditor attorney practice includes sending out wage garnishments, bank account garnishments and attaching any real estate in your name after they sue and obtain a judgment. It can take weeks to recover wages or bank account funds if garnishments can be recovered at all by filing bankruptcy. The removal of a judgment lien normally requires the filing of a motion to have that lien removed and obtaining an appraisal.
Only certain debts such as student loans and IRS Income taxes can garnish wages or bank accounts without first suing the Debtor and obtaining a judgment. If a creditor files a non-wage garnishment upon a bank whatever money is on deposit in your account, up to the amount of the judgment will be attached and sent to that creditor. The garnishment will often cause you to overdraft the account. Non-wage garnishments are not supposed to levy against social security funds in the account but you will often have to go to court to have funds refunded.
Wage garnsihments are supposed to be limited to 25% and employers are supposed to not dismiss an employee for the first wage garnishment. However employers have taken more than 25% and found other reasons for dismissing an employee. Wage garnishments often make an employer nervous about the possibility of employee theft.
Once a real estate lien or garnishment attaches it becomes hard or impossible to get property back. While bankruptcy will stop a creditor from garnishing wages once the lien attaches to property is acts just like a mortgage or car lien. It is far better to see an attorney as soon as you are sued.
Attorney Nick C. Thompson Louisville Kentucky How to file for Chapter 7 Bankruptcy
by admin on July 25, 2010
How to file for Bankruptcy
We explain how to file Chapter 7, 13 and 12 Bankruptcy step-by-step. The Bargain that the Bankruptcy Court makes with a debtor is that if you will provide the documentation and fully disclose your financial information they will discharge your debts and grant the bankruptcy. It is difficult to file for Bankruptcy but not impossible once it is explained. This website was designed to help you understand exactly how to file for a Chapter 7, 13, or 12 Bankruptcy. It has the resources and materials to show you exactly how to file bankruptcy, keep the maximum amount of property, and bankrupt the maximum amount of debt. It explains:
- How to file for bankruptcy and discharge income tax debts,
- How to file for Chapter 7 or 13 Bankruptcy and discharge student loans
- How to file for a Chapter 7 or 13 Bankruptcy and strip a second mortgage or judgment lien
- How to stop a foreclosure and either catch up a mortgage or delay the process and spend years in the home before it is sold in foreclosure.
It uses the Federal exemptions and the state of Kentucky as an example but your state exemptions will control the amount of property you can keep. Download our manual or audio and the forms that show you systematically how to file Chapter 7 and Chapter 13 bankruptcy:
- Chapter 7 13 Bankruptcy checklist of what documents to gather for Louisville Kentucky bankruptcy cases the majority of other districts are the same.
- How to file for Bankruptcy manual that explains step-by-step how to file bankruptcy with your lawyer. Our 60-Minute How to file for Bankruptcy audio is a dramatized first interview answering common foreclosure and bankruptcy questions according to Kentucky (federal exemptions) law. This is an excellent video on Bankruptcy by the bankruptcy court. However, it uses Florida exemptions and underestimates personal property kept in Kentucky (federal cases).
- There is a “How to file Chapter 7 Bankruptcy” and “How to file Chapter 13 Bankruptcy” Adobe presentation similar to a PowerPoint that quickly explains Chapter 7 and Chapter 13 issues.
Nick C. Thompson Louisville Kentucky Bankruptcy attorney
