Attorneys at Law in Bowling Green and Elizabethtown KY

Consumer Bankruptcy

Areas of Practice

Consumer Bankruptcy

Bankruptcy is not the end of the world. It’s the start of a new one.

Confronting the possibility of bankruptcy is difficult.  Even making the first call to a lawyer to schedule a consultation may be difficult.  However, it is important to make that call sooner rather than later.  An experienced bankruptcy attorney can help analyze your financial situation and help you work out the best solution.

We first consider non-bankruptcy options, such as negotiating debt settlements or selling excess property to pay debts.  Sometimes however, these options are not available and the attorneys at Kerrick Bachert, PSC will explain in detail bankruptcy options that fit your situation.

Bankruptcy Types

For most individuals, a Chapter 7 or Chapter 13 bankruptcy is most suitable.  A Chapter 7 bankruptcy is sometimes called a “liquidation plan” because the debtor’s property is sold and distributed to creditors.  However, it is important to note that certain property is exempt and cannot be sold.  A certain amount of equity in a home, vehicles, furniture and other household goods are a few examples of exempt property.

A Chapter 13 Bankruptcy is sometimes called an “individual debt adjustment plan.”   The goal of a Chapter 13 is to readjust your debt payments so that they are in line with your income, and to allow you reasonable living expenses.  Chapter 13 can be a good option for people who are trying to save their homes from foreclosure by allowing them to pay delinquent mortgage payments over time.  A Chapter 13 can also help individuals who are upside-down on vehicle loans.  In a Chapter 13, you make one payment to your trustee (with a few exceptions) who then distributes payments to creditors.  This greatly streamlines the bill-paying process for debtors and creates a barrier from overbearing creditors.

The United States Courts’ website provides valuable information on bankruptcy, including videos.  Please refer to this website for general information, but remember that you need to consult an attorney for advice for your unique situations. Please see the following links for more bankruptcy information:

For the written Bankruptcy Basics guide:

Bankruptcy Basics Guide

For the Bankruptcy Basics videos:

Bankruptcy Basics

Our bankruptcy attorneys have significant experience in the field. Scott Bachert is a former United States Panel Bankruptcy Trustee for the Western District of Kentucky.  Furthermore, Stephanie McGehee-Shacklette has been practicing in the federal Bankruptcy Courts for the last 12 years.  Their knowledge base has been passed on to every other attorney at KB.  KB prides itself on being the top-notch bankruptcy firm in south central Kentucky.

For more information on our individual Bankruptcy services, please contact Scott A. Bachert.
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