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Nick Curtis Thompson

Nick Curtis Thompson

Highly rated Louisville Bankruptcy and Foreclosure Defense
  • Bankruptcy, Foreclosure Defense
  • Indiana, Kentucky, West Virginia
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Summary

Nick Practices Bankruptcy and Foreclosure Defense Primarily in the Louisville, Lexington, Covington Kentucky and Southern Indiana Bankruptcy Courts.

Practice Areas
  • Bankruptcy
  • Foreclosure Defense
Fees
  • Free Consultation
  • Credit Cards Accepted
  • Rates, Retainers and Additional Information
    Flat Fees often for Chapter 7 and Chapter 13 cases
Jurisdictions Admitted to Practice
Indiana
Kentucky
West Virginia
Languages
  • French: Spoken
  • Russian: Spoken, Written
Professional Experience
Solo Bankruptcy and Foreclosure Defense Practice Highly Rated!
Louisville Kentucky Bankruptcy and Foreclosure Defense Practice
- Current
Solo Bankruptcy and Foreclosure Defense Practice Student loan and tax issues.
Litigation Attorney
Assistant County Attorney
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Assigned to bench trials and solely responsible for all jury trials.
Litigation Attorney
West Virginia Tax Department
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Litigated Oil and Gas tax issues. Returned to home in Louisville.
Education
Mississippi College
J.D. / Tax; Corporate Law
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Murray State University
B.S. / Pol Sci Communications
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Honors: Debate Team, Swim Team, ROTC, Judo.
Awards
Top Kentucky Bankruptcy Attorney for 2016
Avvo
Top Kentucky Bankruptcy Attorney for 2016
Top Foreclosure Attorney 2015-2016
Avvo
Top Foreclosure Attorney for Kentucky 2015-2016
Top Kentucky Bankruptcy Attorney for 2015
Avvo
The Top rating for 2015 for Kentucky
Clients Choice Award Best Attorney
Avvo
Top rated attorney for Kentucky as rated by clients
Professional Associations
NACA
Member
Current
ABI
Member
- Current
NACBA
Member
- Current
Publications
Articles & Publications
How to file Bankruptcy manual
Nook Amazon and Apple
Speaking Engagements
CFPB and Foreclosure Litigation the New Rules, NBI Seminars, Wisconsin
NBI
The new CFPB regs and Foreclosure prevention
Fair Debt Collection Practices Act and Bankruptcy, NBI seminars, Wisconsin
NACBA and NBI
Suing Debt Collectors in Bankruptcy Court and the FDCPA
Legal Answers
10 Questions Answered

Q. Does bankruptcy discharge maintenance obligations?
A: No! Alimony and Child Support are not dischargeable debts they can be repaid but they are not discharged in bankruptcy. The stay does not even delay a child support or alimony hearing or order.
Q. What is a nonjudicial foreclosure?
A: A non Judicial foreclosure is when the court is not involved in the lender recovering the property. In some states a deed of trust is held by a 3rd party and when the property is not paid for the lawyer who holds the title will convey the property to the bank upon default. Kentucky is s judicial foreclosure state but you can transfer the property with a deed in lieu of foreclosure or by a short sale. There are few or no advantages to your credit or a tax reason for doing a deed in lieu or a short sale. You still get the 1099 tax debt with a non judicial foreclosure. If you are going to walk away a bankruptcy is better.
Q. Does bankruptcy discharge child support obligations?
A: Child support and alimony are non dischargeable debts. You can repay child support through a Chapter 13 and you can repay child support as a priority debt which paid in full before any unsecured debt is paid. Bankruptcy can be a took to repay child support but it does not discharge child support or alimony. These debts are not even stayed by filing the bankruptcy. A spouse can seek an increase in the child support amount while the Bankruptcy case is going on. The county attorney can prosecute and jail a parent for not paying the child support while the Bankruptcy case is pending. But if a person wanted to repay the debt through the bankruptcy most county attorneys would allow it. While student loans are also normally non dischargeable debts they are not priority debts and they are only paid after child support and income taxes are paid in first place. It could be a tool people used to repay but it is rarely used and rarely understood by the county attorneys and even state court judges who rarely or never see it used to repay support. It is a very strong tool that can insure child support is paid first, mortgages and cars are paid second and unsecured credit cards, student loans and medical debts are paid dead last.
Q. Can you file chapter 7 on fed taxes
A: Yes. There are 6 factors. FIRST the taxes must be at least 3 years old. SECOND you must file the returns at least 2 years before filing the bankruptcy. Third there must be no assessment within 240 days before the bankruptcy. Fourth filing any bankruptcy filed within the 3 year period will increase the waiting periods. FIFTH there must be no fraud or effort to evade the tax. Finally an offer in compromise will extend dates. A good bankruptcy-tax attorney will make this easy. MISS THE DATE BY ONE DAY AND YOU OWE THE TAX. I have never met an attorney that remembers all the rules
Q. How far behind do I have to be before the bank can start the foreclosure process?
A: You only have to be contractually late to be in default. However most mortgage companies will start a foreclosure when you are 2 payments behind. It is a pretty stiff late charge and real damage to your credit. When the mortgage becomes 2 payments behind they will start to refuse to take your payments. They start to wrap up the file and they are in the process of sending it to an attorney. You will be sued at the 6 month stage and served by a sheriff or by certified mail. It is still possible to simply make a payment and bring it up to date and some stages in the process but they wont accept payments normally unless it fully brings it up to date.
Q. When does my legal responsibility for my home end during the foreclosure process?
A: When you pay off the balance of the loan after the home is sold. Foreclosing the home pays part of the debt. The balance is what you owe. If you dont pay this balance the lender may obtain a judgment and garnish the balance from any checking account or your wages. They may also be able to sell other property. Even if they dont garnish the balance they will charge off the debt, then issue a 1099 to the IRS claiming you profited and had earned income from not paying you. This causes an income tax problem. They may also sell the debt to a debt collector that sues you for the debt. Normally it is best to simply put this behind you by filing bankruptcy.
Q. If I file for bankruptcy can they take my semi away? Driving is my only source of income.
A: There is an anti discrimination provision of the bankruptcy code. You never lose a professional license just because you filed bankruptcy. There may be some other reason such as an unpaid traffic violation or you didn't pay for the truck and they repossessed it. But if you lost the truck while you were in a bankruptcy case it is not because you filed bankruptcy. You lose a truck because you didn't make the payments for the truck or you lost your license because a criminal or traffic fine wasn't paid.
Q. If husband files bankruptcy am I, his wife, liable for his medical debts
A: No not unless you signed to be liable for them.
Q. I filled bankruptcy in 2009 I filled on my 2 nd mortgage but I've been paying it can I stop paying it
A: Filing bankruptcy gets rid of your personal responsibility for the debt however it does not get rid of the mortgage unless you stripped the 2nd mortgage. Did your attorney talk to you about how this is done in a Chapter 13. Often if a second mortgage can be stripped and eliminated a Chapter 13 may be the best way to go in a bankruptcy. Otherwise the mortgage remains and the interest continues. When you sell the home this will have to be paid if you didn't strip the mortgage. That is why it is important to use a lawyer who knows what he is doing in a bankruptcy. You may want to download my book on how to file properly.
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Contact & Map
800 Stone Creek Parkway Suite 6
Louisville, KY 40223
USA
Telephone: (502) 625-0905
Fax: (502) 625-0940