Bamberger, Brancato & Spalding, PSC
Owensboro Kentucky Law Firm

Owensboro Legal Blog

Do you have too much debt?

On behalf of Bamberger, Brancato & Spalding, PSC on Friday, October 11, 2019.

There should be more to life than an ongoing struggle to make ends meet. Still, if you have significant debt, you may never stop worrying about repaying it. Further, even if you plan to limit the amount you borrow, you may have emergency expenses that take a tremendous toll on your monthly budget. Either way, you must know how much debt you can afford. 

Debt is a way of life for most Americans. That is, virtually everyone has a student loan, mortgage, credit card balance, medical bills or another type of outstanding debt. In fact, according to reporting from CNBC, the average American owes roughly $38,000 to creditors. Unfortunately, debt is not always easy to manage. While limiting the amount you borrow may be an effective strategy, some debt is unavoidable. So, how much debt is too much? 

Rethink your Facebook presence during your divorce

On behalf of Bamberger, Brancato & Spalding, PSC on Friday, July 12, 2019.

Social media is part of everyday life for many Americans. When it comes to Facebook, according to the Pew Research Center, roughly 70% of adults in the United States use the service routinely.  Whether you post every day or only use the social networking tool to keep tabs on friends and family members, you must be careful during your divorce. 

Divorce can be both stressful and painful. While some emotions related to dissolving your marriage are impossible to circumvent, you can avoid making your situation worse. Before you make personal Facebook posts about your marriage or divorce, you may want to think twice. 

Divorce maintenance in Kentucky

On behalf of Bamberger, Brancato & Spalding, PSC on Monday, January 14, 2019.

The use of maintenance in Kentucky divorces provides an amount of pay from one spouse to the other. The term "maintenance" replaces former terms such as alimony or spousal support.

When one spouse incurs a serious financial disadvantage due to the divorce, the other spouse may legally have to provide financial assistance in the form of maintenance. Kentucky uses some of the following types of maintenance arrangements:

Bankruptcy can put an end to the stress of medical debt

On behalf of Bamberger, Brancato & Spalding, PSC on Thursday, July 19, 2018.

A comprehensive survey found that health care costs represent the primary reason that people file for bankruptcy protection, and the issue applies to all age groups.

If you feel overwhelmed by medical bills, you are not alone. Bankruptcy may be the solution.

Estate plans help you avoid intestacy

On behalf of Bamberger, Brancato & Spalding, PSC posted in blog on Wednesday, April 18, 2018.

Intestacy is what happens when a person dies without expressing their wishes for what will happen with their estate in a form that is legally enforceable. When this happens, state intestate laws control how the deceased person's assets will be distributed.

How these laws would distribute your estate might differ greatly from what you would want. Also, your estate going into intestacy could raise some complicated and contentious issues for your family. So, there are a range of reasons you may want to avoid intestacy through having a legally enforceable estate plan.

Preparing your will begins with naming the perfect executor

On behalf of Bamberger, Brancato & Spalding, PSC posted in blog on Monday, January 22, 2018.

Perhaps you are moving right along in life and you get the niggling feeling that you are leaving something undone. Could it be that you still need to prepare your will?

If you are beginning to worry about the task of naming an executor, here are some tips that may help.

Understanding the importance of reaffirmation agreements

On behalf of Bamberger, Brancato & Spalding, PSC posted in blog on Friday, December 1, 2017.

After months or years of attempting to secure payments, it is discouraging to hear that a debtor has filed for bankruptcy. Once the debtor has filed for bankruptcy the creditor can no longer contact them to secure money owed. It may even mean they will never secure those payments altogether. However, finance companies, mortgage companies and other secured creditors have another option: reaffirmation agreements.

A reaffirmation agreement keeps the debtor liable for their debt after the bankruptcy period is complete. Once the discharge is issued, the creditor can file a lawsuit against the debtor. Reaffirmation agreements only work for Chapter 7 bankruptcy. However, it is important that a creditor hires an attorney to complete a reaffirmation agreement.

Disability after 50? Qualifying for SSDI is easier as we age

On behalf of Bamberger, Brancato & Spalding, PSC posted in blog on Thursday, August 31, 2017.

None of us over 50 likes to think of ourselves as being advanced in age. Being referred to as “over the hill” is not generally something we find amusing, even if we may make occasional remarks about our various aches and pains being age-related.

The Social Security Administration (SSDI), however, gives us good reason to be thankful for being over the half-century mark.

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