The Auto Loan Cramdown in Chapter 13 Bankruptcy
If you are considering filing bankruptcy and you owe more money on your automobile loan than what the vehicle is worth then you might want to look into Chapter 13 bankruptcy protection. One aspect that is available only in a Chapter 13 case is the auto loan cramdown. As soon as you drive your vehicle…
The Chapter 7 Trustee – Who is this person and what do they do?
Who is the trustee and what do they do? Once your chapter 7 bankruptcy case is filed with the court a Chapter 7 Trustee is assigned to your case. The Trustee is an independent party that is supervised by the Office of the U.S. Trustee (a division of the U.S. Department of Justice). They are not…
Medical Bills and Bankruptcy: Get Your Diagnosis for a Fresh Start!
When medical bills make you sick, file for bankruptcy! Medical debt and bankruptcy go hand in hand. Filing for bankruptcy relief because of medical bills has been rising steadily over the past several decades. While many Americans are without health insurance, medical bills can put many families in a financial bind. A 2009 study by Harvard researchers found…
Do I Qualify for Bankruptcy?
When considering filing for bankruptcy protection a common question that is asked is “Do I qualify for bankruptcy?” The short answer is yes, you do qualify to file. Bankruptcy protection and the right to file bankruptcy is available to everyone. The better question to ask is “what chapter (7 or 13) do I qualify for?” Even…
The Key To Keeping Your Property…What To Do Before Filing Bankruptcy
A lot of questions come up at initial consultations from clients about what to do with property in order not to lose it in a bankruptcy case. Typically, if you are transferring property on the eve on filing a bankruptcy case your actions are too late. If you disclose everything to your attorney before filing…
How Much Does It Cost To File Bankruptcy?
The cost to file bankruptcy. This is information that everyone needs to know when considering filing for bankruptcy protection. Whenever you are going to file a legal action there will be fees to pay. In order to get the bankruptcy process moving forward you should be aware of the costs associated with your case. What chapter…
What To Do When A Lawsuit Is Filed Against You
If you receive paperwork from a court – don’t ignore it! When a lawsuit is filed and served upon the debtor the clock starts ticking on when you must act. In Ohio once a complaint is served the answering party has twenty eight (28) days to appear and defend yourself. If the 28th day happens…
The Collection of Credit Card Debt…And Bankruptcy
When dealing with Credit Card Debt a common question is “how long does the credit card company have to collect on the money that I owe?” The short answer is that the statute of limitations in Ohio for a written contract is eight (8) years. Ohio Revised Code § 2305.06 ‘Contract In Writing’ This means…
Median Family Income in Ohio as of May 15, 2015
A term you might often hear when discussing or researching information about bankruptcy is “median family income.” If you do not know what this means you are not alone. However, the Median Family Income in Ohio amount is very important when trying to figure out how you can file for bankruptcy protection. A calculation that is…
Debts That Are Not Discharged in Bankruptcy
Filing for bankruptcy provides individuals with a fresh start while eliminating their debt. However, not all of your debt will be wiped clean upon receiving your Discharge Order. This means that when your bankruptcy case is closed debts that are not discharged in bankruptcy will remain. Most people are aware that (1) student loans, (2)…