By: Jamie L. Harris If you are facing a garnishment, attachment or execution on a judgment in Kentucky, you are probably wandering what personal property you own is exempt from creditor attachment. Under KRS 427, many items of personal property are exempt from judgment creditor seizure including: jewelry, personal clothing
By: Jamie L. Harris If you are dealing with significant credit card debt, filing a personal Chapter 7 or Chapter 13 bankruptcy may be a viable option for addressing credit cards if you are eligible for those chapters. In a Chapter 7 bankruptcy, the debt is listed and discharged upon
By: Laura Day DelCotto I learn something new every day, so it keeps this life fun. Somehow, I don’t remember ever specifically focusing on 11 USC §511 in all these years of confirming plans. With interest rates moving so often this year (and in the wrong direction from borrowers’ perspective),
By: Laura Day DelCotto The WSJ headline about the recent USA Gymnastics’ filing is spot on. At first blush, when anyone with multiple lawsuits files bankruptcy, there seems to be a rush to judgment that the debtor is seeking to evade and avoid litigants. The filing is viewed with
By: Jamie L. Harris Whether it be from job loss, divorce, medical issues or the death of a spouse, many American homeowners may find they are unable to debt service their monthly mortgage payment. The good news is most lenders offer a variety of options to address financial hardship issues
By: Laura Day DelCotto Stanley Druckenmiller has been widely quoted recently for his predictions at the NYC Grant’s Investment Conference of looming insolvencies and bankruptcies to be filed by any number of zombie companies: “Seriously, does anyone know why Sears is still in business?” He is right, the zombies have
By: Laura Day DelCotto The vast majority of Chapter 11 bankruptcy filings are by businesses: LLCs, closely held corporations, and large public company filings. We read about them almost daily in the news. This is how we have come to mostly think about Chapter 11 in the US: a large
By: Jamie L. Harris For many couples facing a potential divorce, dealing with marital debt and property settlement arrangements can be overwhelming. Financial issues frequently cause divorce. Rather than assigning liability to your various marital debts, it may be simpler to file a joint petition for bankruptcy relief. Debt that
By: Laura Day DelCotto The Sixth Circuit Court of Appeals has certified the following question of law to the Kentucky Supreme Court: “Whether Seven Counties Services, Inc.’s participation as a department in and its contributions to the Kentucky Employees Retirement System are based on a contractual or a statutory obligation.”
By: Laura Day DelCotto The American Hospital Association recently reported some statistics that we observe in our practice here in Kentucky. Nationwide, hospitals have been closing at the rate of about 30 per year. Bankruptcy tracking statistics mirror the AHA report. Twenty one hospitals or other health care facilities filed
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