Saving Your Home
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…
Read MoreHow to Keep Your Property: The Reaffirmation Agreement
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…
Read MoreCan Bankruptcy Stop an Eviction?
Eviction, Bankruptcy and You A tenant being evicted from their residence used to have the option of filing bankruptcy to stop the eviction and remain in their dwelling. Filing bankruptcy allowed the tenant to try and work things out with the landlord or at the least allow them more time to find another place to live. However, since October…
Read MoreProtecting Your Property: Bankruptcy Exemptions in Ohio
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…
Read MoreThe Dayton Bankruptcy Attorney: Using Bankruptcy to Stop a Foreclosure
Don’t give up without a fight! Stop the Foreclosure! When you have a foreclosure complaint filed against you, the clock starts ticking, and you are put into a stressful, legal world you are likely unfamiliar with. There are procedural issues to pay attention to, such as the amount of time you have to file…
Read MoreSecured Creditors in Bankruptcy
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…
Read MoreReaffirmation Agreement: To Sign or Not to Sign
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…
Read MoreShort Sales and Deed in Lieu of Foreclosure
Foreclosure Options Outside of Bankruptcy Homeowners that can no longer afford their mortgage payments face several choices in how to deal with their debt. The options of deed in lieu of foreclosure or short sale are available to some homeowners, allowing bankruptcy to be an option of last resort. Although these options are similar, there are…
Read MoreAsset Forfeiture and Bankruptcy
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…
Read MoreWhat is a secured creditor?
“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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