Kentucky Bankruptcy Court

Kentucky has always taken pride in its reputation for being a beacon of the independent spirit. Fiercely loyal to the state they live in, Kentuckians have always been primarily concerned with making their home state as strong as it can be. This means helping people when they are down, just as much as cheering on those who are successful.

The “we are all in this together” attitude that Kentucky is known for has manifested itself into a community mindset that allows residents to shoot for the stars, with safeguards in place to help if everything does not work out. This safeguard is called the bankruptcy process, and has enabled countless Kentucky residents to get rid of unsustainable debt and remain productive parts of society.

If you have found yourself in a difficult financial position with no fix in sight, now is the time to figure out you options by working with a capable attorney who can effectively represent you during the Kentucky bankruptcy court process.

Bankruptcy Court in Northern Kentucky

Being trapped under a mountain of debt can bring undue stress to other aspects of your life. It may strain personal relationships or hurt your ability to be a part of your community with all the issues that come with large amounts of debt. It’s important to take immediate action with an experienced attorney and not simply hope for relief. An experienced Kentucky bankruptcy lawyer will help you pursue financial relief and allow you to focus on moving forward with your life, rather than continuing a never-ending cycle of due dates and interest payments.

Eric Steiden is a committed bankruptcy attorney who has successfully handled many cases throughout his seventeen-year legal career. He has a strong personal dedication to the values of honesty and integrity, which are upheld by all members of his legal team. This emphasis has allowed his law firm to gain a solid reputation among judges, creditors, and clients alike.

Steiden Law Offices has two Kentucky locations, Covington and Florence, and offers free initial consultations to go over the details of your legal financial situation. To schedule this risk-free consultation, call (513) 684-9900 or send an online message today.

In addition to serving both Covington and Florence, Eric proudly represents individuals throughout Kenton County and Boone County. This includes the cities of Erlanger, Edgewood, Elsmere, Villa Hills, Union and Fort Mitchell, among many others.

Kentucky Bankruptcy Court Information Center

• Kentucky Bankruptcy Process
• Kentucky Bankruptcy Exemptions
• Kentucky Bankruptcy Legal Resources

Kentucky Bankruptcy Process

If you have filed a bankruptcy petition, you are required by law to appear with your lawyer and answer questions by the Bankruptcy trustee assigned to the case. A trustee is used as an independent arbitrator who works to satisfy the requirements of creditors and make sure the process runs smoothly. This question and answer session usually occurs in a courthouse or the trustee’s office. This is required no matter what Chapter of the Bankruptcy Code you file under. Chances are that you will not get to see a judge. You are also welcome to attend any bankruptcy proceeding at any time at the courthouses.

In Kentucky, a bankruptcy case begins when the individual or business in debt files a petition with the local bankruptcy court. Your attorney will complete this step, along with the other administrative duties required of him. To fill out the requisite bankruptcy forms, you will need to provide your attorney with the following:

• A list of all creditors and the amount and nature of their claims;
• The source, amount and frequency of the debtor’s income;
• A list of all of the debtor’s property; and
• A detailed list of the monthly living expenses for the debtor’s household.

With the petition, the debtor must also file the following documents with the bankruptcy court:

• A schedule of assets, including all real property and personal property
• A schedule of liabilities, including all secured, unsecured and priority debts
• A schedule of contracts that have not yet been completed and unexpired leases.
• A schedule of current income and expenditures, including a statement of any anticipated increases or decreases in income or expenses after filing
• Statement of Financial Affairs
• Statement of Intention for Secured Debts
• Statement of Current Monthly Income and Kentucky Means Test Calculation

Additionally, Individual debtors must file a certificate of credit counseling, along with evidence of payment from employers that was received in the 60 days prior to the bankruptcy filing. They must also provide their most recent federal tax return.

Spouses may file individual or joint petitions. If married, you must still provide income information for your spouse, regardless of whether you are filing an individual or joint petition, unless you live in separate households.

Back to top

Kentucky Bankruptcy Exemptions

Exemptions are kinds and values of property that are legally beyond the reach of creditors or the bankruptcy trustee. The debtor in bankruptcy keeps the exempt property. What property may be exempted is determined by state and federal statutes, and varies from state to state. Kentucky has a specific list of exemptions that are available to those who file for bankruptcy protection.

• Homestead – Real or personal property used as a family residence
• Insurance – Annuity, fraternal benefit society, group life, health or disability benefits
• Miscellaneous – Alimony or child support
• Pensions – Tax exempt retirement accounts, IRA’s, firefighters, police officers, state employees, teachers
• Personal Property – Motor vehicle (up to $2,500), burial plot, health aids, furniture, jewelry and articles of adornment up to $3,000
• Public Benefits – Public assistance, workers comp, unemployment
• Tools of Trade – Farmers tools, equipment, livestock, office equipment, furnishings
• Wages – 30 times the federal minimum hourly wage per week or 75% or disposable weekly earnings
• Wildcard – Any property up to $1,000

Back to top

Kentucky Bankruptcy Court Legal Resources

U. S. Bankruptcy Court – Eastern Kentucky – This is the primary website for the Eastern District of Kentucky Bankruptcy Court. It offers information on new standing orders, locations, mission statements, judges, processes, opinions and frequently asked questions

U.S. Bankruptcy Court – Western Kentucky – This is the home website for the United States Bankruptcy Court, Western District of Kentucky. The website contains resources and links on filing requirements, case information, fee information, FAQs, local rules and contact information.

Steiden Law Offices | Florence, KY Bankruptcy Attorney

There are very few better feelings than knowing that your financial house is in order. For many, this feeling has been lost due to the unsustainable amount of debt that accumulates from, what seems to be, out of nowhere. Many do not want to face having to make a big change, but sometimes going though the Kentucky bankruptcy court process is the correct step to take. Delaying an effort in finding solutions to a problem that is unlikely to improve can put you in a situation that is very difficult to dig yourself out of. Finding out if you are eligible for bankruptcy may be the exact remedy that you need.

Steiden Law Offices proudly represents individuals throughout Northern Kentucky who are in need of bankruptcy protection. Eric Steiden has 30 years of experience in dealing with bankruptcy, and has built a strong knowledge and understanding of the laws which govern this financial process. His commitment to the clients he serves, along with a strong sense of integrity allows him to make certain that your best interests are in mind throughout the entirety of this difficult situation.

To schedule a free and confidential consultation to go over the details of your case with Eric Steiden at either his Covington or Florence location, call (513) 684-9900 or send an online message today. Eric and attorneys represent Kentucky residents throughout Kenton County and Boone County who are looking for solution to their legal financial problems.