When filing for Chapter 7 bankruptcy, you can forfeit your vehicle, whether you bought the car or leased it, which relieves you of the liability. However, if you still need your car to get to work and take the kids to school, depending on your situation and financial viability, you may be able to hold on to the car […]
Government-backed student loan debt almost always survives a bankruptcy discharge. Unless you are severely, permanently disabled and unable to work, your loans will likely still be there long after the court grants your discharge. So, is there any benefit to filing for bankruptcy if your school loans are overwhelming? A Chapter 13 Plan Dayton, Ohio […]
What is Chapter 7? Chapter 7 discharges most debt. According to the U.S. Bankruptcy Code, Chapter 7 bankruptcy will, in most cases, discharge an individual’s debt. In fact, it is estimated that a discharge of debt is received in 99 percent of Chapter 7 bankruptcy cases. This form of bankruptcy is often referred to […]
Under the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), the laws governing filing for bankruptcy were changed to make it more difficult for consumers to have their debts discharged under Chapter 7 of the Bankruptcy Code. Now, when you file your Chapter 7 bankruptcy petition, you must also file along with it […]
So many emotions and thoughts are running through your mind right after a car accident. You are worrying about the health of all those people who are involved in the accident. You want to contact your family and friends to let them know what happened. From talking to police and ambulance workers to inspecting your […]
When you file your petition for bankruptcy under Chapter 13, you must also file your plan to repay the amount of your debt which is in arrears. You must show enough income to do that over a three to five-year period all the while keeping your all your debts current. The Notion of Automatic Stay […]
When you file for bankruptcy relief, you may be referred to as the ‘petitioner’ or the ‘debtor.’ Unfortunately, even if you have good reasons to file bankruptcy, there is no guarantee that your debts will be forgiven. For example, if you do not follow the proper procedures or neglect to comply with the bankruptcy laws, […]
Though Ohio laws on payday loans have changed over the year, one thing remains clear: Payday loans seem like a simple solution, but they are very costly and hard to get out of. Whenever possible, avoid them. If you already have them, it’s essential to know your rights. How Do Payday Loans Work? The traditional […]
When you die, will your property be sold to pay your creditors? Are your loved ones required to pay your debts even if you don’t have enough assets to cover your debts? Because the answers to these questions can be complicated depending on your situation, it is important to seek the advice of an experienced […]
After filing for Chapter 7 or Chapter 13 bankruptcy, you’ll need to meet with your creditors about a month after the filing date in what’s called a 341 meeting. It’s important to be prepared for the 341 meeting and comply with the requests made by your bankruptcy trustee so that the bankruptcy process proceeds as […]