If there's one question our Danville bankruptcy attorneys hear more than anything else from potential clients, it's: “Will bankruptcy make it impossible for me to get credit? Will my credit be ruined forever?”
These are fair and reasonable questions. The vast majority of us can't make our way in the world without ready access to credit: car loans, credit cards, mortgages. These are things we need to live the life we want to live. Anything that threatens access to credit is thus pretty scary.
Our bankruptcy attorneys can help you through the process and find ways to enable you to live reasonably during and after bankruptcy. Having an experienced lawyer on your side is truly invaluable during the bankruptcy process.
Bankruptcy and Your Credit
So, here's the cold reality: bankruptcy will negatively affect your credit. In terms of quantifying that effect, a bankruptcy will usually decrease your credit score between 150 and 200 points. And there's no sugar coating things – that's a tough blow. It's enough to turn good credit into poor credit.
Now, here's the good news: bankruptcy doesn't ruin your credit forever. Your life isn't over after bankruptcy. You'll still be able to get a car loan, a credit card and even a mortgage, it just may take a little longer.
Chapter 7 bankruptcy will stay on your credit report for up to 10 years, and chapter 13 bankruptcy will stay on your report for up to seven years.
To a very large extent, the best cure for bankruptcy and its effect on your credit is time. If you're patient, if you work at your credit and make sure you carefully and punctually pay off any new debts, you can restore your credit.
Here are some steps you can take after bankruptcy that can ease the process of restoring your credit:
- Check your credit score regularly – make sure your debts are disappearing when they're supposed to
- Re-establish your credit ASAP – a history of successful re-payments is what a good credit score is all about. So look for secured credit cards, car loans or other easier to acquire forms of credit – but only when you know you can afford them.
- Keep your older accounts active – the longer an account is active and in good standing, the more impact it will have on your credit score
Finally, one of the best things you can do for your financial future is to talk to our bankruptcy attorneys about your case. No lawyer can guarantee you a specific result from your bankruptcy, but a good, experienced attorney can play a significant role in minimizing the damage from a bankruptcy filing.
If you live in or around Danville, Kentucky and you need an experienced bankruptcy attorney, please call Helton, Walker & Associates, Attorneys at Law today at 859-236-4520 for a consultation.
Most of my bankruptcy clients will ask me if they have to "file" on all of their debts. What they are really asking is can they keep their car or other secured asset after the bankruptcy is over. The answer is it depends, but most secured assets can be retained if the payments are current and the the client has enough income to keep the asset or purchase it for its fair market value.
Most of my clients are concerned with keeping a car because it provides the means for them to get to work. Without it they may lose their jobs so it is a very important asset for them. The bottom line is that usually they can keep a car as long as those requirements mentioned above are met. As always every case is different and like everything in the practice of law there are no absolutes but as a general rule this holds true for most of my consumer clients.
If you or someone you know is concerned about debt, please give us a call today at 859-236-4520 for a free bankruptcy consultation over the phone. We help people throughout Central Kentucky, including Danville, Harrodsburg, Lancaster and Stanford.
Every year, hundreds of thousands of Americans are hurt by avoidable medical errors. This number includes many innocent patients in Danville and throughout Kentucky. Our experienced medical malpractice lawyers can help if you have been hurt by a medical professional's negligence.
There's no doubt that medical malpractice claims are among the most complicated of personal injury cases. It's not enough to know the law: a lawyer must also possess a keen understanding of the medical issues involved.
Fortunately, Helton, Walter & Associates have ample experience in the field. Our medical malpractice attorneys can evaluate your case and determine if you have a viable claim. And if you do, we'll discuss your options at a free initial consultation.
We have helped clients who were hurt as a result of:
- Diagnostic mistakes
- Surgical errors
- Birth injuries
- Prescription drug errors
Medicine is a difficult, complicated field, and everyone respects the valuable work medical professionals do. But the innocent victims of avoidable mistakes deserve the chance to pursue justice and compensation for their injuries, and that's where our firm can help.
If you have suffered an injury in the Danville, Kentucky area that was the result of medical malpractice, our lawyers want to hear from you. Please call Helton, Walker & Associates today at 859-809-0079 for a free consultation.
You are scheduled for routine surgery on your left leg. The doctor tells you there’s nothing to be worried about and the risk of complications is very small. The nurse administers the anesthesia and you quickly fall asleep.
The next thing you know you’re awake in recovery. Curious you lift up the blanket to see how your left leg looks only to discover your right leg is missing below the knee. You demand to see the doctor who tells you he read the wrong chart but that he is sorry that you no longer have your right leg.
Dealing with the emotional pain of losing your right leg you concentrate on your physical recovery while learning to walk again on a prosthetic leg. A year and a half passes until you finally feel emotionally and physically well enough to seek the advice of an attorney regarding your case.
You schedule an appointment as soon as the attorney can see you. When you arrive and speak with him you are horrified to learn that the time has expired for filing a lawsuit against the doctor. The attorney tells you are simply too late.
While the above scenario is overly simplified it illustrates the importance of seeking legal advice as soon as you believe that you have been injured by someone else’s negligence. The time for filing a personal injury cases is very short, in some instances no longer than a year. While a year may seem like plenty of time, if you wait too long to file a personal injury lawsuit you may be forever barred from doing so. That means, as in the scenario above, you get to live with the results of someone else’s negligence while they enjoy life without any consequences for what they’ve done.
In our civil justice system the courts cannot replace your right leg. The courts can however relieve the financial burden associated with an injury caused by somebody else’s negligence. While the emotional burden of a physical injury can sometimes be overwhelming, don’t let that burden keep you from seeking legal advice before time has run out. Time is definitely not on your side when it comes to filing a personal injury lawsuit.
If you're looking for a personal injury attorney in the Danville, Kentucky area with a proven track record of success in medical malpractice cases, please call Helton, Walker & Associates today at 859-236-4520 for a free consultation.
The monetary compensation imposed by law for loss or harm resulting from injury to person, property, or reputation is known as "damages". While there is no simple equation to determine the amount of damages a victim may be owed, an experienced attorney can help you sort through the myriad factors involved in making sure that your case is not settled for less than it is worth.
The attorneys will first meet with you to discuss the details of your case in full depth of detail. Some of the monetary factors to be considered to determine the worth of your injuries include property damage, lost income, and the amount of medical expenses you have incurred.
Personal elements of your case would encompass the pain and suffering you have experienced as well as emotional distress, loss of enjoyment of life, loss of consortium, and lost opportunities for the future. Our knowledgeable attorneys will also consider other key factors in your case, such as the availability and credibility of witnesses as well as the degree of liability and perceived credibility of the defendant. Finally, your attorney will actively pursue the supportive opinion of experts in any relevant field to prove the extent of your injuries if necessary.
Although the amount of damages awarded in a personal injury case is never guaranteed, it is imperative that a victim has an attorney that is capable of pursuing each case to a beneficial result. Call us today at 859-236-4520 to discuss the details of your case.
Do not make any statement to an insurance adjuster without your attorney present. You have the right not to give a recorded statement. Additionally, be sure not to sign anything until it is reviewed by counsel.