This site has blogged before about how debt collectors cannot threaten to bring criminal actions for an unpaid debt.  While this is true for most debts, there is an exception for creditors who received a check that bounces.  If you are caught passing bad checks (i.e. you write a check to a creditor and it bounces) the creditor…

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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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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…

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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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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…

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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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  How often can I receive a discharge of debts through bankruptcy? Although you can file bankruptcy as many times as you want, you can only obtain a discharge – wiping your debts away – periodically based on what chapter you have filed. CHAPTER 7:  If you have received a discharge in a Chapter 7…

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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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Lien Stripping in Chapter 13 : Is it For You? The process known as lien stripping is the opportunity to strip an unsecured second or third mortgage, or home equity line of credit from real property, and is one of the most beneficial aspects of filing a chapter 13 bankruptcy, as opposed to a chapter 7,…

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Most Debtors Keep Property in Bankruptcy – Call for a free consult, (937) 318-1529 A debtor may retain and redeem certain secured personal and household property, such as household furniture, appliances and goods, wearing apparel, and tools of trade, without payment to the secured creditor, if the property is exempt and if the mortgage or…

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