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Bankruptcy and COVID-19

I'm veering somewhat away from the family law script today, as the business halt due to the COVID-19 pandemic has affected many people in a profoundly negative way. For the past several weeks, international travel and trade has drawn to a standstill, millions of people have been obligated to quit working, and as the economic consequences unfold, it appears that a significant number will lose their jobs permanently as large employers engage in mass layoffs and some small employers shut their doors for good. For the foreseeable future, discretionary spending will be at a relative stop as consumers readjust priorities and as opportunities for leisure activities contract.

Even though your job may have stopped, your financial obligations have not. Often, you may have ongoing responsibilities for child support, spousal maintenance or debt repayments related to a decree. Your business may have completely disappeared during the middle of your divorce proceeding and presents special issues regarding valuation, or may present no funds from which obligations may be satisfied. Thankfully, there are remedies for many of your situations related to your debt within the Federal bankruptcy code; I can help navigate through those, including those involving the unique circumstances related to your family law situations.

This office has always been a full service operation. I am are well-versed in bankruptcy law, participate in a number of proceedings every year in both debtor and creditor roles, and have continued adding to my knowledge base in this important area of consumer and business relief. I am admitted to practice and can participate in bankruptcy proceedings in the following courts:

-United States Bankruptcy Court for the Western District of Kentucky (Louisville, Bowling Green, Elizabethtown, Henderson, Owensboro, Paducah)

-United States Bankruptcy Court for the Eastern District of Kentucky (Lexington, Covington, Frankfort, London, Corbin, Pikeville)

-United States Bankruptcy Court for the Southern District of Indiana (New Albany, Jeffersonville, Clarksville, Indianapolis, Evansville, Corydon)

I have long found that with adequate planning and patience, my clients can maximize the retention of assets whether they be home equity, cash on hand, vehicles, working tools, retirement accounts and/or household items. Most people fail to realize the extent of what they are permitted to keep, and allow resources which could have been protected to dwindle in the months prior to filing - proper planning can help with that.

If you find yourself in a financial situation which will likely remain untenable in the long term or may need a temporary respite while your business regroups, it is worth it to schedule some time with me to explore your options to minimize, restructure or eliminate your debt.