LEXINGTON, KY BANKRUPTCY LAWYER
When considering if you need a financial advisor or a business lawyer, maybe your best bet is a provider with one foot squarely in both worlds. For more than 35 years, our team of experienced bankruptcy lawyers has worked to deliver timely financial planning, legal advice AND individual attention to our clients in Lexington, regardless of their economic standing. If you are struggling with debt and financial difficulties, give us a call at (859) 469-4821. Our attorneys proudly offer the following boutique of legal and financial services.
For more than three decades, our proficient team of Lexington bankruptcy lawyers has been committed to delivering timely financial planning, legal counsel, and personalized attention to clients in Lexington, irrespective of their economic status. Our Kentucky-based lawyers are skilled at assisting business owners across the spectrum of business and bankruptcy law.
Determining whether bankruptcy aligns with your circumstances requires careful consideration. At Bunch & Brock, our seasoned Lexington bankruptcy lawyers are deeply experienced in helping clients navigate financial challenges. With a wealth of knowledge, we assess your unique circumstances — scrutinizing your income, debts, and assets to ascertain whether bankruptcy or an alternative debt relief plan suits you best. Armed with an in-depth understanding of the legal landscape, we provide reassurance by charting the optimal course toward a brighter financial future.
At Bunch & Brock, you’ll collaborate with adept and knowledgeable attorneys. We refuse to compromise on individual and personalized attention, distinguishing ourselves from larger firms while providing an equivalent level of experience and resources.
WHY CHOOSE BUNCH & BROCK?
CENTRAL KENTUCKY’S BANKRUPTCY LAW FIRM
DEAL DIRECTLY with your lawyer
We do not rely on secretaries or paralegals to meet with you. Your bankruptcy attorneys personally attend to your needs throughout your relationship with our law firm.
Serving Kentuckians Since 1976
We bleed blue and have helped move the ball forward for Kentuckians for over three decades. Serving businesses and individuals with their bankruptcy law needs.
COMMITTED TO COMMUNICATION
Our bankruptcy lawyers take pride in being just a phone call away. We are here to help you put your worries to rest and are committed to being accessible to you.
unparalleled KNOW-HOW
Since our law firm’s founding in 1976, our bankruptcy lawyers have been recognized for our deep understanding of KY bankruptcy law. We don’t shy away from the tough cases.
We offer bankruptcy consultations. Schedule your appointment today!
WHAT
CLIENTS
SAY
WE’RE ONE OF YOU
SERVING CENTRAL KY OVER 30 YEARS
When you hire a lawyer at Bunch & Brock, in Lexington, Kentucky, you will have a lawyer handling your case—not a paralegal or legal assistant.
Navigating the intricacies of the bankruptcy process can be challenging, and errors may lead to complications that exacerbate your situation. Having a seasoned Kentucky bankruptcy lawyer to steer you through the process is crucial. With numerous bankruptcy attorneys available in Kentucky, it’s essential to choose one with whom you feel at ease, and who possesses the requisite experience and a proven track record. Operating from our offices in Lexington, we focus on supporting individuals and business owners through both the bankruptcy process and the diverse demands of running a well-managed and profitable business.
HELPING BUSINESSES & INDIVIDUALS
Our distinguished bankruptcy attorneys stand as a beacon of support for individuals and businesses grappling with financial challenges. With a commitment to providing comprehensive legal assistance, we navigate the intricate landscape of bankruptcy law with you — offering tailored solutions to address the unique needs of all our clients.
In times of financial uncertainty, our bankruptcy law firm in Lexington, Kentucky, serves as a steadfast ally, empowering individuals and businesses to overcome challenges and embark on a path toward a brighter financial future. We help our clients with:
- Personal Bankruptcy: We serve individuals in Lexington by assisting with bankruptcy planning – helping our clients avoid costly mistakes and end creditor harassment so that they may start again on a new and better financial footing. For personal bankruptcy, the most common forms of filing are Chapters 7 and 13. Our Lexington personal bankruptcy attorneys are committed to taking the time to comprehensively understand your financial circumstances. We will discuss your options for debt relief and devise the best plan for eliminating or reorganizing your debts.
- Business Bankruptcy: We serve businesses in Lexington by exploring their options for debt relief. While there are five types of bankruptcies outlined by the federal Bankruptcy Code, business bankruptcies are typically filed under Chapters 7 Liquidation, and Chapter 11 Reorganization. With the help of our skilled Lexington business bankruptcy attorneys, you can create a strategy to either liquidate or reorganize your business’s debts. Bunch & Brock will craft an informed approach that allows you to come out on the other side of bankruptcy with a revitalized financial strategy.
- Business Litigation: In addition to our bankruptcy services, Bunch & Brock offers tailored legal advice and representation throughout your business’s lifespan. From forming a business, all the way to succession planning and dissolution – we are here for you and your business.
GET IN TOUCH
Our goal is to provide you with personalized financial solutions to set you on the path to success. To set up a consultation and receive trusted answers to any of your questions, contact us at (859) 469-4821.
ATTORNEY
CARYN L. BELOBRAIDICH
“We’ve all been through tough times in our lives and in hindsight there are always those people that standout as pillars of support… that’s what I want to be for my clients.”
MY BIO
ATTORNEY
MATTHEW B. BUNCH
“I like being able to connect with people and understand their conflicts. I enjoy thinking of ways to find an expeditious solution as people like to have resolution in their lives.”
MY BIO
ATTORNEY
W. THOMAS BUNCH II
“Because both my parents are attorneys, the law permeated childhood. I knew from a young age that I had to represent clients to the best of my ability. I like helping people, and appreciate the trust placed in me.”
MY BIO
QUESTIONS & ANSWERS
BANKRUPTCY, PROBATE, ESTATE PLANNING & BUSINESS LAW
At Bunch & Brock, we understand the challenges individuals and businesses face when contemplating bankruptcy as a means of financial relief. Whether you have questions on personal bankruptcy or business bankruptcy, our goal is to provide clear and informative answers to your questions about the bankruptcy process.
The primary purpose of bankruptcy is to provide a fresh start by either eliminating or restructuring debts under the protection of the court. The process involves a detailed examination of the debtor’s financial situation, the identification of assets, and the implementation of a plan to address creditors’ claims. It’s crucial to note that bankruptcy laws are complex and subject to change. Seeking the guidance of an experienced Lexington bankruptcy lawyer is highly recommended to navigate the process successfully and make informed decisions based on individual circumstances.
In Kentucky, as in the rest of the United States, the two most common types of bankruptcy for individuals are Chapter 7 and Chapter 13, each with its own characteristics. Chapter 7 Bankruptcy, also known as “liquidation” bankruptcy, involves the sale of non-exempt assets to pay off creditors. Remaining eligible debts are typically discharged, providing a clean slate for the debtor. This is best suited for individuals with limited income and significant unsecured debts.
Chapter 13 Bankruptcy involves a court-approved repayment plan over three to five years. This allows individuals to keep their assets while repaying a portion of their debts. It is best suited for individuals with a regular income who can afford a structured repayment plan, as it provides an opportunity to catch up on missed mortgage or car payments.
Bankruptcy offers a legal avenue to seek relief and have your debts forgiven or reorganized. Contrary to a common misconception, filing for bankruptcy doesn’t necessarily result in the loss of all your assets; instead, it serves as a protective measure for your money and property. This legal process acts as a shield against aggressive creditors who might employ court proceedings to seize your possessions.
You are entitled to the protections provided by bankruptcy law, and our team of Lexington bankruptcy attorneys can guide you through the process effectively. If you find yourself overwhelmed by debt, it’s crucial to have the support of a composed and competent legal team on your side. We are here to provide the expertise and assistance you need during these challenging times.
Bankruptcy has the potential to eliminate or discharge many types of debts, but not all debts are treated equally in the bankruptcy process. The different forms of bankruptcy have different approaches to addressing debts.
There are, however, some debts that cannot be discharged in any bankruptcy filing:
- Certain tax debts
- Student loans in most cases
- Child support and alimony
- Debts arising from willful and malicious actions
- Court-ordered restitution for criminal activities
- Debts not listed on the bankruptcy petition.
The attorneys at Bunch & Brock will work with you to identify the debts that can be discharged.
Distinguishing between business debt and consumer debt is essential for business owners, especially when considering bankruptcy. In Kentucky, the classification often depends on the purpose of the debt and whether it was incurred for business or personal reasons.
Debt incurred for business-related purposes qualifies as business debt. This may include loans taken to fund operations, purchase inventory, invest in equipment, or expand the business. As such, business debt is typically the responsibility of the business entity, and creditors look to the business assets for repayment.
Debt taken for personal, family, or household purposes falls into the category of consumer debt. This includes purchases for personal use, medical expenses, or educational loans. Consumer debt is the personal responsibility of the individual, and creditors may seek repayment from the individual’s personal assets.
It’s important to note that the distinction between business and consumer debt may not always be clear-cut. If an individual business owner personally guarantees a business loan or uses personal assets as collateral, there can be an overlap. Additionally, co-mingling of funds or using personal credit for business expenses may complicate the categorization.
The duration of the bankruptcy process in Kentucky can vary depending on several factors, including the type of bankruptcy, the complexity of the case, and individual circumstances. While Chapter 7 bankruptcy may take between three to 6 months, Chapter 13 bankruptcy may involve a repayment plan over three to five years. Before filing, individuals are required to complete credit counseling or a debt management education course.
It’s important to note that these timelines are general estimates, and individual cases may vary. Consulting with a qualified bankruptcy attorney in Lexington is essential for accurate information tailored to your specific situation.
