Types of Bankruptcy

Chapter 7 - Also know as liquidation, allows individuals or businesses to give up nonexmpted assets and walk away from most of their debt.  To qualify you must pass the means test, which is the income test.

Chapter 13 - For individuals who need to restructure their debt load.  Some creditors will be paid back in full with interest, other in full and the remainder will be repaid at a percentage of the debt.  Also used by debtors who do not qualify for Chapter 7 under the means test.  Chapter 13 can stop a foreclosure and a car from repossession.

Chapter 11 - Is reorganization for businesses.  (we do not practice Chapter 11)

Chapter 12 - Allows family farmers and fisherman with regular income to reorganize debt.  It works very much like a Chapter 13, but usually is about three years.

Contact our office today for your free consultation to see if bankruptcy is the answer for your financial struggles.  We offer a free consultation and monthly payment plans.

Thinking of Bankruptcy?

If your are thinking of bankruptcy you should contact our office today for your free consultation.  We have convenient locations in Eastgate, Middletown and Fairfield.  We offer a free consultation, fair fees and monthly payment plans.

Chapter 7 Bankruptcy

If you are struggling with medical or credit card debt chapter 7 bankruptcy may be the answer for you.  In a chapter 7 bankruptcy you can eliminate all of your unsecured debt while retaining your home and car, as long as you are current on your payments.  Bankruptcy can provide an opportunity for a fresh start.  Contact our office today for your free consultation to see if bankruptcy is the right choice for you.  We have offices in Eastgate, Middletown and Fairfield to serve you.  We offer a free consultation, fair fees and monthly payments plans.

Ohio Bankruptcy Exemptions

As of April 1, 2013 the exemption amounts for the State of Ohio have been adjusted.  Exemptions are laws in effect which state the amount of assets you can protect in a bankruptcy.  The homestead exemption (which protects your home) has been increased to $132,900.00 per debtor, this means that a single debtor can have $132,900.00 or a couple $265,800.00 of equity in your home and still be able to keep your home in a Chapter 7 Bankruptcy.  Other exemptions have also increased such as motor vehicle, cash on hand, jewelry, personal injury awards, etc.  Under these new exemptions debtors can file for bankruptcy in Ohio and protect more of their assets.  Contact our office today for your free consultation and see if bankruptcy is the right choice for you.