A Troy, Ohio Bankruptcy Attorney Explains Regular Income for Chapter 13 Bankruptcy You’ve made the brave decision to file for bankruptcy, but you know you don’t qualify for Chapter 7. And that’s fine because Chapter 13 is going to allow you to repay your debt and still have the ability to get back on the right […]
Involuntary Chapter 7 and Chapter 11 Bankruptcies. Our bankruptcy laws are often associated with providing relief for debtors. However, the bankruptcy code also provides tools for creditors to compel unwilling debtors to either liquidate assets, or reorganize their debts in an effort to repay creditors. 11 U.S.C. § 303 of Bankruptcy Code establishes the procedures […]
As a Troy, Ohio bankruptcy attorney, I often find that potential clients do not understand bankruptcy counseling requirements. With very few exceptions, anyone who is filing Chapter 7 or Chapter 13 bankruptcy must participate in both pre-bankruptcy counseling and pre-discharge counseling. The exceptions are: Active military service member in combat zone Emergency filing to stop […]
It’s human nature to hold out for a hopeful solution when things are going bad, even when it’s a financial crisis. When money problems arise, people have a tendency to look for ways out that include selling their home, taking on another job or selling other valuable assets. It seems as though filing for bankruptcy […]
One of the most common questions people ask themselves and experienced Troy, Ohio bankruptcy attorneys when considering filing for bankruptcy is whether they should file, or if they should consider other alternatives. This is a difficult question that really has no set answer. Determining whether bankruptcy is right for you depends on many things, so it’s […]
You should never suffer abuse or harassment just because you owe a debt. However, as a Troy, Ohio Bankruptcy Attorney, I have heard many horror stories. People sometimes fall on hard times. We all make mistakes and getting in over our head is stressful enough. This is why, in 1977, Congress passed the Fair Debt Collection […]
If you are one of the millions of Americans who have never had to deal with a debt collector, count yourself lucky. As a Troy, Ohio Bankruptcy Attorney, I often discuss the importance of the Fair Debt Collection Practices Act (FDCPA) with clients and how it applies to bankruptcy. The FDCPA is a federal law […]
If you are facing bankruptcy in Ohio and trying to make ends meet, creating a plan for moving forward is essential. Part of this plan involves figuring out your financial goals and saving money. Even with limited funds, many people feel the need to save money for emergencies or future plans. Here are some things […]
In our last post, we talked about how everyone needs to save money. You might need to consult a Troy, Ohio bankruptcy attorney first, but here is some more information about creating savings funds. Organizing Your Savings Creating a savings involves more than just sticking spare cash in a box under the bed or a […]
Nerd Wallet recently reported on rates of personal bankruptcies across the US, both for states and counties. Among states, Ohio ranked tenth for personal bankruptcy filings, with a rate of 322 per 100,000 residents between April 2015 and March 2016 (Tennessee had the highest rate at 553 per 100,000). There shouldn’t be a stigma attached […]