debt consolidation

Many bankruptcy clients have sought the help of debt consolidation companies prior to filing for bankruptcy relief.  Debt consolidation can be handled in numerous ways.  You might take out a loan to pay off multiple accounts.  Or you might contact a company that will negotiate will all of your creditors on your behalf.  The creditors…

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Recently the thought provoking HBO show “Last Week Tonight with John Oliver” delved into the world of Debt Buyers.  A key point made early on is that many people find themselves in debt due to no fault of their own.  I see this every day when talking with individuals about their specific circumstances.  No matter…

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picture of credit cards with blog title

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…

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Bankruptcy and gambling debts became a more relevant topic in Ohio in November 2009 when Ohio voters approved a constitutional amendment allowing four casinos to be built and operated in the cities of Cincinnati, Cleveland, Columbus and Toledo.  Gambling debts by Ohioans have increased after the opening of these four casinos and the continued growth of…

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If you find yourself in over your head with debt these 5 Debt Reduction Strategies just might help turn things around for you and let you avoid bankruptcy. Pay more than the minimum payment on your credit cards.  Paying only the minimum amount each month could help you wind up with more debt, more stress and more time…

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Credit Card Companies are Watching You! SUMMARY:  Universal Default is the practice of credit card companies raising your interest rate if you pay a bill late. Rockwell was right when he sang “I always feel like, Somebody’s watching me, And I have no privacy.”  Someone is watching you…Credit Card companies!  Not only are they paying attention to your…

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Sued By Your Credit Card Company? – Don’t Panic! Once you have been sued by your credit card company, or a collection agency on behalf of the company, you have a choice to make.  You can either: Fight the action in court, Attempt to resolve the matter prior to a trial, or Ignore it and hopes…

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Creditors Last Line of Defense in Bankruptcy – Objections to Discharge Little stands in the way of a debtor who has passed the multiple hurdles in bankruptcy from discharging all of their unsecured debts, except a creditor’s objections to discharge.  Discharge of debts is the primary purpose for filing bankruptcy; bankruptcy language for “getting rid of…

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How to Avoid Bankruptcy through Good Use of Credit Cards One of the most preventable causes of consumer bankruptcy is the misuse of credit cards.  One client said it felt like they were being squeezed by an anaconda and every move they made just made the snake squeeze tighter.  At our office we understand how…

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The Effect of Filing Bankruptcy on Cosigners Many times when a person is seeking to obtain a loan a cosigner is required.  Many times these cosigners are either a friend or family member who signs a legal document or contract and promises to pay your loan in the event that you default on your payments.  This cosigner becomes legally…

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