In response to tough economic times, it seems like our television airwaves are being filled with commercials for bankruptcy lawyers and debt management professionals. If you’re struggling under the weight of your debt, you know that it’s very important for you to make the best possible decision to alleviate that burden. However, what is the best decision? What exactly is the difference between debt management plans and bankruptcy?

Bankruptcy is a court action that involves an attorney and may result in either a repayment plan or a complete erasure of certain debts. Not all debts can easily be absolved under bankruptcy; for example, in most cases, student loans will not be eliminated. [Read more…]

Photo credit: SeniorLiving.org

Today’s economy seems pretty unstable. There have been a lot of changes over the last few years. If you’ve been keeping up with the news, you’ll know that it isn’t just individuals who have felt the negative effects. Businesses, even large businesses, have been struggling as well. Some well-known companies have even faced bankruptcy. One company that may be facing bankruptcy in the very near future is Fisker, the electric car manufacturer. Anita Campbell reports on Fisker’s state in “Green Car Maker Fisker Considering Bankruptcy, Taxpayer Loan At Risk.” [Read more…]

Photo credit: MCHart (Flickr)

After much anticipation and quite a few exciting festival activities leading up to Louisville’s favorite event, the Kentucky Derby has finally returned for its 139^th year!

The Road to the Kentucky Derby has been a long and exciting journey. This Saturday, you can witness history as 20 thoroughbreds and their jockeys race in the Run for the Roses for the coveted Kentucky Derby Trophy. Throughout the day, you and thousands of other derby fans can experience the magic of the Kentucky Derby at historic Churchill Downs—the horses, the races, the mint juleps, the hats! [Read more…]

Here in Louisville, almost every resident enjoys everything derby-related. Lucky for us, this time of year offers a wide variety of exciting events leading up to the Kentucky Derby.

This week, you and your family can enjoy the Republican Bank Pegasus Parade, the Kentucky Derby Festival’s oldest and most loved event. This historic parade has delighted viewers of all ages since 1956, offering a spectacle of marching bands, equestrian units, multicolored floats, clowns, inflatable characters, and celebrities led by an inflatable Pegasus. [Read more…]

Making the decision to file bankruptcy is not an easy one. It’s a decision that takes a lot of thought, both to determine if it’s even the right option for you and to plan how you will get through and recover from the process. Having a good bankruptcy attorney to guide you through the procedure can make a world of difference. Here are a few tips to help you select a bankruptcy attorney:

1.) Choose an attorney who concentrates in bankruptcy. Attorneys, much like doctors, can specialize in a variety of fields, such as tax law, criminal law, family law, etc. [Read more…]

May is just around the corner, which means that Louisville’s best festival and biggest attraction is so close: the Kentucky Derby. Louisville does the preliminary celebrations right, kicking off the Kentucky Derby weeks in advance!  In the months of April and May, Louisville residents and visitors get to experience the exciting events leading up to the derby.

Thunder Over Louisville is one of the best events this month, as one of the largest fireworks displays in North America and among the top air shows in the U.S. The event is considered by many to be the unofficial kick-off of Kentucky Derby season as it was founded as the opening ceremonies of the Kentucky Derby festival. [Read more…]

The Kentucky Derby is just several weeks away, and all throughout April, you can get in the derby spirit at a number of exciting events. My family and I are sure to be in attendance at many of these events—the Kentucky Derby is one of our favorite parts of living in Louisville.

Later this month, you might find my family and I in attendance at the Taste of Derby festival, which celebrates its 15^th anniversary this year. This much-loved festival offers over 65 delicious dishes from more than 65 of Louisville’s best restaurants and beverage establishments. [Read more…]

Growing up, if you did something wrong, such as not sharing your toys, your mother probably instructed you to apologize to little Jessica or Johnny right away. As a child, there was this impression that an apology could right any wrong committed. As an adult, this illusion was probably dispelled; however, a recent article in Science Daily entitled “Bankruptcy Judges Influenced by Apology” suggests that maybe your mother was right. Maybe you should revert back to the childhood habit of always saying “I’m sorry” when you’ve slighted someone. [Read more…]

In recent news, an appellate court allowed a lawsuit to proceed against a debt collection agency. The debt collection agency allegedly lied to the plaintiff and 181 other bankruptcy filers, sending each a collection letter stating that their student loans were not eligible for a bankruptcy discharge.

It is a common misconception that student loans are not able to be forgiven during a bankruptcy. This misconception most likely arises from the fact that it is difficult to get rid of student loan debt through bankruptcy. Though it is very difficult, it is not impossible. If a person filing for bankruptcy wants to discharge their student loan debt, they must prove to the judge that paying the loan would cause them “undue hardship.” [Read more…]