You have a 27,900 exemption that allows you to keep up to 27900 in equity in your home you live in. It must be your residence. You also have a 4500 exemption for a car. If you live in the home and the truck is in your name you should have no problem.

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answered on Feb 26, 2025

If you listed all the creditors you had then and got a discharge, then those debts are gone and cannot be collected upon. But if you have been sued since or incurred other debts, then you might have something to worry about. If so, consult with a KY attorney about asset protection and exemption... View More

A debt collector is not restricted to just attaching your home. He can garnish wages, a bank account, and even attach a car or furniture to be sold to satisfy the debt. All at the same time but he is limited to the amount of the debt. The judgment often allows him to collect interest and... View More

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answered on Jul 2, 2024

Based on the information provided, it appears that your landlord may have indeed violated the automatic stay that goes into effect when you file for bankruptcy. Let's break this down:

1. You filed for bankruptcy on May 17.

2. The automatic stay goes into effect immediately upon... View More

You don't say whether you're in a Chapter 7 case, with a trustee, or a Chapter 13, and that can make a difference.

The general rule is (e.g., for payments to you or tax refunds) is that the amounts attributable to prepetition accrual are part of the bankruptcy estate, and the... View More

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answered on Jun 19, 2024

1. Type of bankruptcy: The rules may vary depending on whether you have filed for Chapter 7 or Chapter 13 bankruptcy.

2. Timing of the check: If you received the check before filing for bankruptcy, it might be considered part of your bankruptcy estate. If you received it after filing, the... View More

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answered on Jun 1, 2024

Considering Chapter 7 bankruptcy can be a challenging decision, and it's important to handle it carefully. You should stop the automatic payments for your personal loan through your bank to prevent further withdrawals. You can do this by contacting your bank and revoking the authorization for... View More

Don’t tell any creditor anything. Once you file, the deduction(s) will be automatically terminated. You don’t need to do anything. Consult your bankruptcy lawyer for a more detailed explanation of the automatic stay and termination of automatic withdrawals.

I disagree somewhat with my KY colleague.

First, because most financial institutions have, under each state's law, a right of "offset", and that is often buttressed by a written agreement or notice, which the courts may recognize as sufficient to create a lien, it is always... View More

I fail to see any benefit in telling your bank or lender that you are filing before you file. You would give them information that is probably not helpful to you. They are certainly not going to tell you how to not pay them or how to sue them. I would go to the bank and issue a stop payment.

Start with the Ky Secretary of State and tack down all their business filings. THen go to IRS and/or Ky Revenue Cabinet to obtain all tax filings. That should set you on the right path to determining what happened with their business.

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answered on May 16, 2024

To find out what happened to your grandparents' business and assets after they passed away, you can take the following steps:

1. Obtain a copy of their death certificates from the vital records office in the county where they died.

2. Search for probate records at the county... View More

Absolutely, this is a problem. You gave her your ownership interest in the car. You have some exemptions that allow you to keep your car. But if you give property away before filing, it becomes a fraudulent transfer, and you now have no exemption that allows you to keep the auto. The auto is no... View More

Every case has context, i.e., a broader factual picture.

In your case, if you file for bankruptcy relief within the next two years, under the Bankruptcy Code, a trustee can look back and recover any transfer of property/value and recover that if the value lost is large enough to merit the... View More

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answered on May 11, 2024

Based on the information you provided, it seems unlikely that being temporarily on your mother's car title from 2022 to April 2024 would be a significant issue in a bankruptcy case, especially if you were removed from the title prior to filing. However, a few considerations:

1. Timing:... View More

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answered on Apr 19, 2024

In Kentucky, once you've filed for bankruptcy, it's generally difficult to stop the process completely, especially if you have already filed the petition with the court. The decision to reverse a bankruptcy filing depends heavily on how far along the process is and the chapter under which... View More

A caution- the Bankruptcy Code provides that conversion/dismissal of a case is addressed to the discretion of the Bankruptcy Judge, who will decide which path is in the "best interest of creditors".

Your post fails to indicate which Chapter of bankruptcy has been chosen (that can... View More

When you use the car as security the lender ends up with an ownership interest in the car. If you file bankruptcy you can normally still pay the loan and keep the auto. There are no free cars or homes in bankruptcy. The only exception I know of is occassionally the lender forgets to file the... View More

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answered on Mar 26, 2024

If your car has a lien due to a loan where the vehicle was used as collateral, you generally can keep the car as long as you continue to make payments on the loan. When considering bankruptcy, whether Chapter 7 or Chapter 13, the specifics of your situation will largely determine if you can keep... View More

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answered on Mar 11, 2024

It's possible to apply for a credit card after receiving your Chapter 13 discharge, even if you haven't received the final decree yet. However, keep a few things in mind:

1. Credit score: Your credit score may still be low due to the bankruptcy, which can make it more difficult to... View More