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Are you having trouble paying your mortgage payments? Have you decided to surrender your home to the mortgage company through foreclosure? If so, you could be liable for thousands of dollars if the mortgage company pursues a deficiency judgment. Before you allow your home to go back to the bank through foreclosure, you need to take advantage of our free bankruptcy consultation to discuss how you can resolve your debt problem and avoid a deficiency judgment. What is a Deficiency Judgment? When your home is sold at a foreclosure sale, the proceeds from the sale will be paid to the mortgage company to satisfy the debt you owe on your home. A deficiency occurs when the sales price received at the foreclosure sale is not sufficient to pay the entire debt owed in full. The mortgage company has the right to request a deficiency judgment against you for the difference. For example, if you owe the mortgage company $100,000 but your home is sold at the foreclosure sale for $80,000, the mortgage
Child support and child support in Kentucky are often the most complicated and contested issues during a divorce. Parties vehemently and passionately fight for what they believe is the best arrangement for their child. Both the mother and the father come before the court equally without any presumption in favor of the mother or the father. Child custody in Kentucky is decided by the court based on what is in the best interest of the child — not what the parents allege is the best custody arrangement. How is Child Custody in Kentucky Defined? Understanding how child custody in Kentucky is defined can help parents as they deal with the emotions and frustration associated with custody disputes. Sometimes knowing what the terminology means can help with the uneasiness and anxiety about what is going to happen. Below are common terms used in a child custody case in Kentucky. Child Custody – Child custody refers to the responsibilities and rights of a parent in child rearing. Physical C
The goal of filing bankruptcy is to discharge debt in order to get a fresh start. For people who owe tax debt, the goal remains the same — to discharge income taxes. However, a common misconception about bankruptcy law is that you can never discharge income taxes in bankruptcy. As with most bankruptcy myths and misconceptions, it is partially true but the facts are misinterpreted. If you owe income tax debt in addition to your other debts, you may be able to discharge income taxes in bankruptcy. Contact Musselwhite Meinhart & Staples, PSC to schedule a free bankruptcy consultation to discuss whether your income tax debt is dischargeable in bankruptcy. Rules Applicable to Discharge Income Taxes in Bankruptcy Determining if your back taxes are dischargeable in bankruptcy can be complex even though the Bankruptcy Code is very specific regarding the rules to discharge income taxes in bankruptcy. Most attorneys refer to these rules by the time periods used to determine if your income tax