BANKRUPTCY

We are a bankruptcy attorneys we have offices in Eastgate Ohio and Middletown, Ohio.

Not sure what bankruptcy is? Bankruptcy is a process in which consumers and businesses can eliminate or re-pay some or all of their debts under the federal protection of a stay through the bankruptcy court. Basically there are two types of chapters available for the consumer; Chapter 7 bankruptcy and Chapter 13 bankruptcy.

CHAPTER 7 BANKRUPTCY

Chapter 7 bankruptcy is designed to clear off or discharge all of your unsecured debt. This will give you a fresh financial start. Creditors can no longer collect on debts by telephone calls or court proceedings. If there were secured items that you wish to keep such as your home or vehicle you would re-sign on these items under a reaffirmation agreement.

A reaffirmation agreement is a bankruptcy document that you would sign to reaffirm debts that you do not want to discharge through your case. The terms of your loan stay the same.  By reaffirming these debts, they do not get discharged through your case. These debts will report to the credit reporting agencies and help to re-build your credit.

Chapter 7 Bankruptcy is also referred to as a "liquidation bankruptcy" because the trustee may take and sell or liquidate some of your property to pay back some of your debt. However, you will be able to keep most if not all of your property due to the protection of the bankruptcy exemptions. These include such things as your home, vehicle, cash on hand, jewelry, household items, retirement plans, and most other assets. The exemptions vary so you should contact our Eastgate, Ohio bankruptcy firm for further details.

Are you eligible for a Chapter 7 Bankruptcy. Not everyone can qualify for Chapter 7, there are several factors to consider, but most can qualify. Contact our office today for your free consultation to see if you qualify for Chapter 7 Bankruptcy.

CHAPTER 13 BANKRUPTCY

Chapter 13 Bankruptcy is also referred to as a "wage earner" plan because in order to file for Chapter 13 protection you must have a reliable source of income so that you can repay all or a portion of your debt.

In Chapter 13 bankruptcy you will pay back a percentage of your unsecured debts, this can range from 1% to 100% depending on your individual situation.

Chapter 13 is also designed to stop a foreclosure or vehicle repossession. If you file for Chapter 13 all collection actions must stop (actually this applies to Chapter 7 as well, you can buy more time by filing Chapter 7 if you do not have the income to keep the home but are not quite ready to leave the home yet).  You would then be able to make up the payments that you were behind through your chapter 13 plan over the next three to five years.

As mentioned above if you file for Chapter 13 you must be in the case for a minimum of 3 years and a maximum of 5 years. It will be up to the creditors to file a claim in order to be paid during this case. During this time period you will repay a percentage of your unsecured debts, your secured debts and any missed payments you had on your house or vehicle. At the end you will receive a discharge as to all remaining debt.

For more information check out our website at www.keeganandrade.com or www.middletown-bankruptcy.com

If you are thinking of bankruptcy, contact our Eastgate, Ohio bankruptcy attorneys today at 513-752-3900.  Or our Middletown office at 513-422-2994.  We offer a free consultation, fair fees and monthly payment plans.

Is Bankruptcy the Answer?

We are bankruptcy attorneys located in Eastgate, OH.  We specialize in chapter 7 bankruptcy and chapter 13 bankruptcy.

WHAT IS BANKRUPTCY?

This is the legal proceeding which relieves debtors from responsibility of debt payments who cannot meet them and also provides protection while attempting to repay the debts.

HOW CAN BANKRUPTCY HELP ME?

Filing bankruptcy could wipe out credit card debt and other unsecured debts. If filed, no creditor can legally collect of those debts.

Bankruptcy can stop creditor harassment, as in phone calls and harassing letters and could stop repossession of your car or foreclosure of your mortgage. You could still retain your home even if a foreclosure has already been filed.

Medical debt is discharged through bankruptcy. Overall, health care is the main reason in the U.S. for filing bankruptcy. Hospitals and ER services cannot refuse you service in the future, if you were to file.

You do NOT lose everything you own. Sometimes in a chapter 7, the trustee may take items and sell them to pay on your debts.

These are just some of the ways that a bankruptcy could help you.

WHICH BANKRUPTCY OPTION BEST FITS MY SITUATION?

The most common filings for bankruptcy are chapter 7 and chapter 13. Chapter 7 will wipe out all your unsecured debt (credit cards, medical fees, utilities, etc.). You can also keep your house and vehicle in chapter 7, as long as your current on payments. Chapter 7 is a straight bankruptcy, referred to as a liquidation bankruptcy. This will stop all collection proceedings including phone calls, mailings, garnishments and court proceedings. As many as 65% of consumer bankruptcy filings in the U.S. are chapter 7.

Chapter 13 is a repayment plan. It is referred to as a wage earner. You must have a reliable source of income so that you can repay all or a portion of your debt. Chapter 13 will stop a foreclosure or repossession as well. It is designed to help you retain your home or vehicle if your behind. You will repay 1% to 100% of your debt, depending on the individuals situation. This will last a minimum of three years and max of five years. During this time it will be up to the creditors to file claim in order to be paid during the case.

WHAT DEBTS WILL A BANKRUPTCY NOT ERASE?

Most of your debts can be discharged in a bankruptcy. Some debts are not dischargeable. They cannot be wiped out in a chapter 7 or at the end of a chapter 13. Some kinds of debt can never be discharged.

Student Loans - Most student loan debt is not dischargeable. In some situations a debtor can claim that student loan debt causes an extreme hardship and can obtain a discharge, but it is very difficult to persuade a Bankruptcy Court to discharge a student loan debt.

Taxes - Some income tax debt can be discharged in bankruptcy, but this varies, you should make an appointment for your free consultation to discuss your individual situation.

Alimony and Child Support - Back payments or arrearages for child support and for alimony are nondischargeable. Orders to pay attorney fees in child support and child custody cases are usually nondischargeable.

Fines and Penalties - Most fines that are imposed by a court and most penalties that are assessed by a government agency are nondischargeable.

WHAT HAPPENS AFTER BANKRUPTCY?

If you want to have credit, you will be surprised at the amount of credit offers you will receive once you file for bankruptcy protection. You can improve your credit after filing and being discharged. This gives people the opportunity to rebuild their credit because it eliminates the old debt.

MORE INFORMATION

For more information check out our website at www.keeganandrade.com

FREE CONSULTATION

Contact our office today in Eastgate, Ohio for your free consultation to see if bankruptcy will give you the financial relief you are looking for.

Bankruptcy Discharge

We are bankruptcy attorneys we have offices located in Eastgate, Ohio and Middletown, Ohio.

Are you struggling with debt?  Wondering what you can do about it?  Thinking of bankruptcy?  What debts would be able to be discharged through a bankruptcy?  Most unsecured debts such as medical debt and credit card debt are able to be discharged through Chapter 7 Bankruptcy. Secured debts (debts secured by collateral such as a vehicle or home) can also be discharged if you decide to let the collateral go back to the creditor, you can also keep your secured debts if you wish to continue making payments on these items.  Reinstatement fees for drivers licenses are also able to be discharged through Chapter 7 in Ohio. Some IRS debts may even be able to be discharged depending on your individual situation.

WHAT IS A DISCHARGE?

What is a discharge?  A discharge in a bankruptcy case is a federal document which deems all debts included in your filing are wiped away.  This means the creditors must write off these debts.  They are no longer legally allowed to collect on discharged debts.  This includes all collection practices. They cannot send you a bill in the mail.  They cannot call you on the phone to collect on this debt.  They cannot file court cases against you to garnish your wages.  All collection practices by creditors must stop once you file for bankruptcy protection.  Yes, you do not have to wait for your discharge to reap the benefits of bankruptcy, as soon as you file your case the creditors must cease all collection practices.  If your wages are already being garnished once you file for bankruptcy protection, your employer must stop all garnishments.

For more information check out our website at www.keeganandrade.com or www.middletown-bankruptcy.com

Every situation is unique, call today to schedule your free bankruptcy consultation to sit down and discuss your situation with one of your experienced bankruptcy attorneys.

Call our Eastgate, Ohio bankruptcy attorney today for your free consultation to discuss your individual situation. We offer fair fees, payments plans, and flexible hours.

Thinking of Bankruptcy?

We are bankruptcy attorneys we have offices located in Eastgate, Ohio and Middletown, Ohio.

Are you thinking of filing for bankruptcy? You should contact our office today. Bankruptcy is designed to help people get back on their feet and a fresh financial start.

BANKRUPTCY 

The word bankruptcy is derived from the itialian word banca rotta which means "broken bench" which may stem from the custom of breaking a money changer's bench or counter to signify his insolvency, or may just be a figure of speech. But it does not mean that you are a broken person. You are just a person going through a rough financial time. People have been dealing with debt for centuries, we are very lucky nowadays to have bankruptcy protection available to us. In ancient Greece the whole family would be put into debtor slavery until your debts were paid in full. Imagine that, your children enslaved because of the debts that you were not able to pay. I don't think any of us would want to be in that situation. Today you just contact an attorney and see if you qualify for bankruptcy protection.

HOW DO I FILE?

What are the steps for going through a bankruptcy? The first step is to contact one of our offices to schedule your free consultation to discuss your current situation. If you decide to move forward, we will file your case once all of your fees are paid in full. In the mean time you will refer your creditors to our office and we will advise them that you have retained this office to file bankruptcy for you and they should not harass you by phone anymore.

Once you retain our office we will give you a list of documents that will be required by the court for your bankruptcy filing. You will then have a second appointment to gather this information from you. There will be a credit counseling session that you will need to do prior to filing, we will give you this information when the time comes. Once all documentation is received you will have a signing appointment and your case will be filed in a matter of days. (This may sound like alot of work, but it will be worth it in the end). Once your case is filed all of your creditors will receive notice from the bankruptcy court. The next step will be your bankruptcy court date , which is called a "341 Meeting of Creditors" this will be approximately 4-6 weeks from filing. Your court date will be held at either Cincinnati or Dayton.

In the meantime you will need to do a second credit session. There may be a reaffirmation agreement for you to sign, if you are keeping any secured debts and then you will receive your Chapter 7 Discharge and have a fresh financial start with your life.

What is a reaffirmation agreement? This is a bankruptcy document which you will sign to keep a secured debt such as a vehicle or home. The signing of this reaffmiration agreement guarantees that the creditor will continue to report your payments to the credit reporting agencies and help to re-build your credit rating after Chapter 7 Bankruptcy.

If you are above income, have too much equity or would like to stop a foreclosure or vehicle repossession, then Chapter 13 bankruptcy would be available for you. Chapter 13 bankruptcy is a three to five year repayment plan where you would pay back a percentage of your debts and all of your secured debts including any missed payments on your vehicle or home.

For more information check out our website at www.keeganandrade.com or www.middletown-bankruptcy.com

Contact our Eastgate, Ohio or Middletown,Ohio today to schedule your free consultation.  See if bankruptcy is the answer you are looking for.