One of people’s chief concerns about filing for bankruptcy is the impact it will have on their credit score. They imagine that it will take years and years to improve their credit score, and the bankruptcy will have an irreversible impact on their ability to apply for loans or undertake other financial transactions in the […]
Many people dream of owning a home. However, the responsibilities of homeownership are extensive and need to be undertaken when you’re financially stable. If you’re going through bankruptcy right now, you may still hold onto the hope of owning a home one day. When is it realistic to try to purchase a home? And is […]
Among the financial issues you may be struggling with are overwhelming student loan debts. A recent article from USA Today names student debt as one of the biggest threats to the state of the economy: According to TransUnion, in 2005 student loans accounted for less than 13% of the total debt load for adults age […]
In Ohio, most creditors must sue you in court and win before they are able to gain a judgment against you and garnish your wages. Some exceptions to this include, child support arrears, unpaid income taxes, and student loans. There is a limit to how much money can be garnished from your paycheck. The limit […]
Bankruptcy is only one method of resolving your financial difficulties. The first step in getting control of your debt is to check in to all of the alternatives available to consumers in Ohio. Some of these include: Doing your own negotiating with creditors Consolidation loans Credit counseling Negotiation with your creditors can sometimes be successful. […]
If you are thinking about filing for bankruptcy, it would help you to understand what a Chapter 7 bankruptcy is all about. This is a general overview of a Chapter 7 bankruptcy, for you to become familiar with the basics . A Troy, Ohio Bankruptcy Attorney can give you more detail, if you reside in the Troy-Dayton area, […]
When people get overwhelmed with debt, they have hard choices to make and various pros and cons to weigh. A recent article from the Huffington Post addresses some of these difficult decisions as it compares bankruptcy to debt consolidation. There isn’t a one-size-fits-all solution. People have to make their decisions based on what suits them […]
A recent ruling by the U.S. Supreme Court has made inherited IRAs fair game for creditors in bankruptcy cases in most of the nation. However, Ohio is one of the few states — along with Alaska, Arizona, Florida, Missouri, North Carolina, and Texas — where this ruling doesn’t apply. Why doesn’t it apply? Because laws […]
Along with the general stress of managing their finances later in life, seniors are frequently targets of financial fraud. A bankruptcy attorney often sees cases where people’s finances are depleted after a devastating scam. Getting an estimate of the prevalence for these types of elder crime is difficult. Not all seniors report a financial crime, […]
When you face bankruptcy, some of the debts you’re struggling with may involve cosigners on loans. These could range from student loans to auto loans. In some cases, your debts may also involve a guarantor: someone who took on the responsibility of paying a debt in a situation where you’re unable to. When you file […]