Heard a Bankruptcy Myth – Don't Believe It!

  The Creatures of the Court and Tales of Discharge –  Bankruptcy Myths Debunked No area of law is more fraught with myths than bankruptcy law.  When you are considering filing you will hear all kinds of information which is half-true, misleading or outright false.  Like a mythical mermaid which some say lure a sailor to…

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What Is A Chapter 13 Bankruptcy Discharge?

Chapter 13 Discharge: Full v. Partial A Chapter 13 discharge is a court order releasing a debtor from all dischargeable debts and ordering creditors not to collect them from the debtor. A debt that is discharged is one that the debtor is released from and does not have to pay. There are two types of…

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Chapter 13 Bankruptcy: What Does My Attorney Do?

The Duties of the Chapter 13 Bankruptcy Attorney In a Chapter 13 bankruptcy, your attorney performs the following functions: Examines your financial situation and determines whether a Chapter 13 filing is a feasible alternative for you, and if so, whether a single or a joint case should be filed; Assists you in the preparation of a budget;…

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Chapter 13 Bankruptcy: How does it work?

A Quick Review of Chapter 13 Bankruptcy Chapter 13 bankruptcy is part of the bankruptcy code under which a debtor may repay all or a portion of their debts under the supervision and protection of the bankruptcy court.  During this time, creditors are prohibited from contacting the debtor and the debtor is protected from foreclosure, just as…

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Which Bankruptcy Filing Is Right For Me?

  Chapter 7 v. Chapter 13: Find the Right Bankruptcy Filing for You How are Chapter 13 and Chapter 7 bankruptcy filing? Creditors are prohibited from contacting you while under the protection of the automatic stay, which goes into place upon the filing of either chapter; and Completion of the Credit Counseling Class is required…

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Ohio Bankruptcy FAQs

Got a bankruptcy question?  – I got answers! What is bankruptcy? Bankruptcy is a federal law designed to provide a fresh start to debtors.  A fresh start including freedom from harassing creditor phone calls, lawsuits, repossessions and garnishments. It is a privilege granted to you under the United States Constitution. It is a very powerful law because…

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Who's Filing for Bankruptcy?

College Graduates Filing Bankruptcy at Higher Rate A report by the Institute for Financial Literacy, finds that college graduates and people with advanced degrees are filing more often.  In fact, since the passage of the Bankruptcy Abuse Prevention and Protection Act, holders of higher education degrees have increased their filings by about 20 percent. Despite the rise in…

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Payday Loans: Playing with Fire

Quick Fix or Burdensome Debt?– Financial Quick Sand of Payday Loans  Payday loans provide a quick cash resource for many people, but more often than not, this quick fix can turn into overwhelming debt very quickly, burying a borrower in debt with massive interest rates attached.  These loans are usually seen as a short-term solution for bills…

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341 Creditors Meeting: A Debtor's Visit to Bankruptcy Court

In every bankruptcy, the debtor is required to visit the bankruptcy court  for the 341 Creditors Meeting.  The “meeting” is a hearing conducted by the bankruptcy trustee so they may ask  the debtor questions about their financial condition. It is called the 341 Meeting of Creditors because the debtor’s creditors may also appear and question the…

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Bankruptcy and Divorce: A Common Couple

Bankruptcy and Divorce: When your divorce leaves you broke, bankruptcy can give you a fresh start! Many times bankruptcy and divorce go together.  A divorce is not only emotionally draining, but separating all the debts and assets of two people gained during a marriage can lead to financial instability. In a divorce all marital property…

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