Often, people with financial difficulties believe that they are the only ones having money troubles. They feel embarrassed by their situation, blaming themselves and thinking that bankruptcy will only make things worse. What they don’t realize is that many people, from those without much money to celebrities with millions, have discharged their debts through bankruptcy.

If you’re thinking about bankruptcy, you’re not alone. Many people share your situation, and many have found relief from debt through bankruptcy. The famous names below have all filed for bankruptcy at some point:

Samuel Clemens, the author better known as Mark Twain, lost the majority of his money after a failed investment in the Paige Compositor, an automatic typesetting machine. Though his debts were discharged in 1894, he spent the last years of the 19^th century using the money received from lectures to repay his creditors.

Rembrandt Haremenszoon Van Rijn, the Dutch painter also known as simply “Rembrandt,” filed for bankruptcy in 1656 at the age of 50. His lawyer organized the selling of his assets, including his home as well as many of his paintings. Rembrandt continued to paint during the bankruptcy, though he wasn’t permitted to sell his paintings directly to the public. [Read more…]

The Belle of Louisville is the last and oldest Mississippi River-style steamboat still operating in America. The steamboat was built in 1914 and is nearly 100 years old. This steamboat is a historical landmark and offers an exciting look back in time.

The steamboat’s wonderful cruises on the Ohio River showcase sightseeing and dinner. You can enjoy a delicious buffet on the steamboat’s enclosed decks over a great view of the water and shore. The steamboat also features a full-service bar and dance floor.

The latest Belle of Louisville cruise will take place on Tuesday, November 13^th from 7-9pm. Boarding will begin at 6:30. [Read more…]

A wonderful event, the Louisville Festival of Trees and Lights features dozens of activities for the whole family to enjoy.

At the event, you can browse an enormous selection of beautiful, decorated wreaths, trees, and other greenery for sale. Holiday shopping will occur throughout the event, and you’re sure to find decorations for your home.

Tickets will be sold for the Kosair Children’s Hospital home and car raffle, the proceeds of which will benefit the hospital.

Friday evening, experience the magic of 19-century holidays with Dickens Family Night. During this event, characters and carolers will mill about dressed in Dickens-era costumes. Santa will also be present, and children can enjoy special children’s activities. Admission to Dickens Family Night is $5 for children, $8 for adults, and $25 for a family of four. [Read more…]

If you cannot pay your bills and other financial obligations, and if you are being harassed by creditors through phone calls, wage garnishments, and utility disconnections, bankruptcy could be the best option for you.

Even before bankruptcy, the law protects you from harassment by bill collectors. Bill collectors may not harass you to collect money. They are prohibited from, for example, contacting you at unreasonable times at home, embarrassing you by telling your employer, family, or friends about your debt, or contacting you at work if they know that your employer does not approve. Bill collectors are only permitted to contact your lawyer, if you have one.

After bankruptcy, you are granted added protection from bill collectors and creditors. An “automatic stay” will be ordered by the court and will prevent most further action against you by creditors, collection agencies, and governmental bodies. [Read more…]

This October, you can run through scenic and beautiful Bernheim Forest while helping children in need.

The 9^th annual Home Run 2012 will offer a 5K run/walk and a 10K run through the Bernheim Arboretum and Research Forest in Clermont, KY.

The funds raised during the Home Run will benefit Home of the Innocents, a non-profit organization that provides valuable services to children in need, including those who have been abused or abandoned, those who are terminally ill, and those with autism. [Read more…]

While bankruptcy is usually the last resort, it can be a great help to those overwhelmed by their debt and by harassing phone calls from creditors.

If you decide to file for bankruptcy, you must take a credit counseling course before filing. This course should be taken with an approved credit counselor and includes an evaluation of your finances, a discussion about whether bankruptcy alternatives might be right for you, and a plan for your budget. You are allowed to take this course either in person or online.

The bankruptcy process begins when you file bankruptcy forms at the federal courthouse. You will need to file a Petition for Bankruptcy.

Your lawyer, after advising you of which bankruptcy option is right for you, will help you fill out the Petition for Bankruptcy and other forms. These forms will include a comprehensive list of your finances, including your sources of income, debts, living expenses, and property. [Read more…]

This October, you can feel the blues at the 17^th annual Garvin Gate Blues Festival.

Fans of the blues should attend the Garvin Gates Blues Festival—the largest neighborhood music festival in Louisville! This festival will celebrate its 17^th year of the blues by with a great musical lineup spread over two days. Some of the musicians and bands to perform include Toronzo Cannon, Dog House Kitchen, Lazy Eleven and Nora Jean Wallace.

The performances will be held on the Four Roses stage and the Pam Sasse stage.

Join us in celebrating the blues at this free festival, where everyone is invited. Just leave pets (except service animals), coolers, bottles, and cans at home. The festival will run from Friday, October 12^th, from 6:30-11:15pm., to Saturday, October 13^th, from 3-11:15pm. [Read more…]

The main types of bankruptcy proceedings are Chapter 7, Chapter 11, and Chapter 13. If you are an individual, you will be looking at Chapter 7 or Chapter 13; Chapter 11 is designed for businesses with a substantial amount of debt that the debtor wants to reorganize.

But what are the differences between Chapter 7 and Chapter 13? How can you know which one is right for your particular financial situation?

Chapter 13 bankruptcy is, in essence, the creation of a payment plan for your debts. This payment plan usually lasts 3-5 years. In the plan, you agree to pay a certain amount of money per month or per week (depending on your paycheck) for a specified length of time to pay off your debts. This plan is proposed by you (and/or your lawyer) and puts forth what you can afford. It is then reviewed by the court, who decides whether or not to approve it. Depending on your financial situation, your plan may require you to pay anywhere from 100 cents on the dollar to one cent on the dollar. If your plan is reasonable and the court approves it, this plan goes into effect for the time specified. At the end of that time (usually 5 years), you are finished with the plan, and you no longer have to pay your creditors: you’re debt-free.
[Read more…]

Bankruptcy was designed to help an honest person get out of debt. Essentially, bankruptcy can help wipe the financial slate clean for those who are buried under their debt.

Bankruptcy laws take into account both the needs of the individual in debt and the creditor who wants to get their money. If you file for bankruptcy, you’ll have to disclose all of your assets to the bankruptcy court (there is no hiding your assets), and the law will determine which of your assets are exempt. Depending on the type of bankruptcy that you file for, some of your assets may be taken by the trustee to help pay your debts, or you may have to set up a payment plan to pay your debts in part or in full.

Filing for bankruptcy is an important decision, one which should not be taken lightly; bankruptcy can have serious repercussions to your finances and credit score for 7-10 years.
[Read more…]