People who win the lottery are often excited, and overwhelmed, with the possibilities. Unfortunately, that can lead them to make poor choices with the money they were given. When that happens they can even end up bankrupt in a short period of time. It’s easy to wonder how someone who wins millions can ever end […]
If you are struggling to meet your monthly financial obligations, and barely earning enough to make it paycheck to paycheck, a wage garnishment can be more than an inconvenience. It can be absolutely devastating. Ohio law allows for wage garnishments. It also provides relief for some garnishments by way of bankruptcy. What is a Wage […]
No one wants to be the one to have to file for bankruptcy, but filings are actually fairly common. Last year 884,956 American households filed for bankruptcy. Yet, like many unpleasant and scary procedures, bankruptcy’s reputation is based on a few tidbits of truth combined with a lot of embellishment. Falsehoods about filing are rampant, […]
One of the challenges faced when filing bankruptcy is dealing with automobiles. This is even more challenging when a couple is filing joint bankruptcy and they owe money on one or more automobiles. Because it is important to understand just how to deal with cars, a Troy, Ohio Bankruptcy Attorney explains the various options. When […]
Troy, Ohio Bankruptcy Attorney Answers, “Can Filing for Bankruptcy Help Me Keep My Car?” Transportation is a integral part of everyone’s livelihood. Without it, you can’t get to work. Children can’t get to school. Your life is essentially hindered in numerous ways. However, many Americans are facing repossession of their vehicles because of unforeseen economic […]
Q: Do the laws enacted in 2005 affect what type of bankruptcy I can file? A: Yes. In order to be eligible receive a discharge in a Chapter 7 Bankruptcy your household income must be lower than the average income for that household size in Ohio, or you must “qualify” through the “means test.” The […]
An important piece of legislation that most average consumers seem woefully under-informed about is the FCRA, or Fair Credit Reporting Act. We believe it is important that all Ohio residents have at least a working understanding of this law. Without such an understanding, they are at risk for being taken advantage of by debt collectors. […]
Bankruptcy and promissory notes can be a complicated matter. When you decide to file for bankruptcy, you are required to disclose all your debts including any promissory notes. Just to be clear, a promissory note is a legal and binding contract or agreement between two or more individuals to repay a debt according to specified […]
According to data reported by the AARP, over the past couple of decades, bankruptcy filings among senior citizens have increased significantly, particularly for individuals between the ages of 75-84. Huge medical expenses and financial miscalculations jeopardise the security that seniors hope to experience in their golden years. If you’re in such a situation, bankruptcy may […]
A common misconception about bankruptcy is that once your debt is discharged, your credit score is tarnished permanently—this simply isn’t the case. Discharging your debt through Chapter 7 or Chapter 13 bankruptcy can present you with the unique opportunity to repair your credit score quickly. In this article, we’ll review some things you can do […]