Fort Knox Bankruptcy Lawyer

Fort Knox Bankruptcy Attorney

Filing for bankruptcy can be scary and overwhelming, but it doesn’t have to be the end of the world, especially if you hire a bankruptcy lawyer to help you through the process. If you’re looking for a Fort Knox bankruptcy lawyer, you’re in the right place. Michael J. Thompson, Attorney at Law, has experience navigating complex bankruptcy cases.

Types of Bankruptcy in Fort Knox

All bankruptcy cases are handled by the United States Bankruptcy Court, which means you won’t be working within the confines of a state court. There are a few chapters of bankruptcy that you can file, depending on your situation:

• Chapter 13 bankruptcy: This chapter of bankruptcy can help you reorganize debts and begin repayment through a plan. You can still keep your property while you catch up on your missed payments.
• Chapter 7 bankruptcy: This type of bankruptcy is a bit more serious. It involves wiping out your debts completely, so you essentially start over again. The effects of Chapter 7 bankruptcy are more serious. For starters, you can expect to lose any property that isn’t protected under a bankruptcy exemption.
• Other types of bankruptcy: Chapter 12, Chapter 11, and Chapter 9 are other chapters of bankruptcy for which you may be eligible. Chapter 12 is designed for family farmers and fishermen, Chapter 11 is designed for restructuring businesses’ and individuals’ debts, and Chapter 9 is designed for municipalities.

Regardless of your situation, it’s helpful to have a knowledgeable bankruptcy lawyer like Attorney Michael Thompson on your side.

In 2024, there were a total of 5,752 bankruptcies filed in Kentucky, including:

• 3,036 Chapter 13 filings
• 2,493 Chapter 7 filings
• 21 Chapter 11 filings

So far in 2025, there have been 2,967 total cases filed. Our job as Fort Knox bankruptcy lawyers is to help as many people through these situations as possible.

State and Federal Bankruptcy Exemptions

There are federal bankruptcy requirements that you can use to protect some of your assets when you file. This includes a Federal Homestead Exemption, personal property exemptions, and wildcard exemptions.

In addition to these federal exemptions, Kentucky has a few of its own, including:

• Homestead Exemption
• Insurance Exemption
• Pensions and Retirement Accounts Exemption
• Personal Property Exemption
• Public Benefits Exemption
• Tools for the Trade Exemption
• Wildcard Exemption

When you file for bankruptcy in Kentucky, you must choose whether you want to take advantage of state exemptions or federal exemptions. You can’t mix and match between the two. It’s helpful to work with a Fort Knox bankruptcy lawyer so you can make the right decision for your financial situation.

A Local Fort Knox Bankruptcy Lawyer Near You

Going through a bankruptcy is a huge deal, so it’s important to take it seriously. While you may be able to go through a bankruptcy on your own, you may find you’re better off working with an attorney who understands Fort Knox bankruptcy laws and can help you navigate any challenges that arise along the way.

The law office of Michael J. Thompson, Attorney at Law, has experience navigating complex bankruptcy cases in Fort Knox, so we’re confident we can help you move past these hardships. Our founding attorney, Michael Thompson, has built a strong reputation over the years as a member of the American Bar Association, the Kentucky Bar Association, and the Tennessee Bar Association.

You can count on him to provide the skills and experience to help you through the complexities of your bankruptcy claim.

FAQs About Fort Knox, KY Bankruptcy Laws

Q: How Can I Hire a Bankruptcy Lawyer if I Can’t Afford to Pay?

A: If you need to hire a bankruptcy lawyer, but can’t afford to pay, you can talk with an attorney beforehand to discuss a payment plan and potential waivers so you can secure the representation you need without putting more financial strain on yourself. Naturally, the last thing you want to think about is paying another expense, but it can help you in the long run. Working with a Fort Knox bankruptcy lawyer can make the entire process go much more smoothly.

Q: Do I Need to Work With a Fort Knox Bankruptcy Lawyer?

A: You are not required to work with a bankruptcy lawyer, but it can make the process much easier. If you ultimately decide you don’t want to work with a bankruptcy attorney, it’s still wise to contact a legal professional before starting the process. Our team can evaluate your situation and present the right avenues for your recovery. Plus, we can offer advice and answer any questions you may have along the way.

Q: Can I File for Bankruptcy More Than Once in Fort Knox?

A: It’s possible to file for bankruptcy more than once, but there are restrictions on how often you can file. For instance, you can’t file for Chapter 7 bankruptcy if you have filed for it in the past eight years or for Chapter 13 within the last six years. On the other hand, you can’t file for Chapter 13 bankruptcy if you’ve filed for it within the last two years or for Chapter 7 within the last four years.

Q: Are All Assets at Risk for Liquidation When I File for Bankruptcy in Kentucky?

A: Not all assets are at risk for liquidation when you file for bankruptcy in Kentucky. There are federal exemptions that you can use when you file for bankruptcy, including the Federal Homestead Exemption, personal property exemption, and wildcard exemption. Kentucky also has exemptions to the law that allow you to protect certain assets from liquidation.

You must choose whether you want to use state or federal benefits—you can’t benefit from both. That said, you can still use federal non-bankruptcy exemptions.

Talk to a Local Fort Knox Bankruptcy Lawyer About Your Situation to Learn More

No matter the details of your case, you can count on our team at the law office of Michael J. Thompson, Attorney at Law, to be there for you. If you’re ready to learn more about our services and discuss your situation in more detail, call the office to set up a consultation with a Fort Knox bankruptcy lawyer today. We’re located at 15744 Fort Campbell Boulevard in Oak Grove, Kentucky.