Your car.  It provides transportation to work so that you can make money to pay bills.  It provides transportation for your kids and families.  A common concern individuals have when we first meet is “I don’t want to lose my car.”  Another concern is that individuals do not want to include their auto lender in their…

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A common question that I receive from new clients is “can I keep my house/car when I file bankruptcy?” The short answer is YES. By signing a reaffirmation agreement you will be able to keep your property once the bankruptcy case is complete. However, by entering into this agreement you will continue to be personally responsible for the…

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A major concern people have when considering filing for bankruptcy protection is how to keep their property.  The amount of property you are allowed to keep depends on the Bankruptcy Exemptions in Ohio that you claim.  These exemptions allow bankruptcy filers to get the fresh financial start they seek while keeping their property. However, there are limits to what…

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How Secured Creditors are Different from Unsecured Creditors in Bankruptcy When a debtor files for bankruptcy, most of their debts will be held by either secured or unsecured creditors.  Understanding these types of creditors and how they are treated is important for successfully completing one’s bankruptcy. A “secured creditor” is a person or business that loaned…

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What happens if I don’t sign a reaffirmation agreement on a secured debt? Typically when a debtor does not sign a reaffirmation agreement for a mortgage in a Chapter 7 bankruptcy, the creditor will not repossess the property as long as the debtor continues to make payments.  However, the creditor will cease sending monthly billing statements…

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Bankruptcy Can’t Stop Criminal Asset Forfeiture If you are facing asset forfeiture for a criminal act you have committed, don’t look to bankruptcy to take care of your problems.  Under the well-established relation-back doctrine, the Government’s interest in property vests at the time of the offense giving rise to the forfeiture, and the property subject…

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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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“Secured Creditor“ Sounds important, maybe scary, but remember –knowledge is power. A secured creditor is a creditor with a valid mortgage or lien against the property of a debtor, such as a mortgage, home equity loan, or car loan.  Property of the debtor that is encumbered by a valid mortgage or lien is called secured property. A secured…

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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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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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