Thinking of Bankruptcy?

We are bankruptcy attorneys we have offices located in Eastgate, Ohio and Middletown, Ohio.  We specialize in Chapter 7 and Chapter 13 bankruptcy filings.

BANKRUPTCY

Almost everyone we meet with expresses their embarrassment/disbelief/guilt over having to go thorough the bankruptcy process.  Much of this stems from widely held beliefs by the public in general that bankruptcy is a symbol of failure or someone trying to play the system.  After years of experience we find the opposite to be true.  Listening to clients over the years and the series of events that lead up to most bankruptcies makes you realize it can happen to anyone.

When preparing a bankruptcy petition we must gather information regarding income and expenses.  From this we can gleam that many clients have come to us as a last resort - often it would have been beneficial for the debtor to visit with us earlier.  Many have been working several jobs, reducing expenses, selling belongings, borrowing money from family and draining their retirement savings.  Bankruptcy is usually the last resort for most people.

Bankruptcy is designed to give people a fresh financial start.  There are many myths about bankruptcy that have been put into the public eye.  Some of those myths are listed below.

BANKRUPTCY MYTHS

Bankruptcy is the result of irresponsible spending.

Most bankruptcies do have a lot of spending and credit card use that has gone one.  But the reason for most of this spending would surprise most people.  Often the large amounts of credit card debt have incurred through using a credit card to buy groceries, gas, clothes for the children, etc.  This is usually because there has been a job loss or reduction in pay.  At the time when most debtors purchased their cars or homes they could afford them.  However, an unexpected illness or job loss has made what was once very affordable to completely out of the budget.  We find that most people are eternal optimists and believe that things will get better soon.  So in the mean time they put their monthly living expenses on credit cards with the  thought that they will easily pay back the debt once they get better or go back to work.  If this does not happen quickly they find themselves in a very difficult situation.

Bankruptcy Happens to the Poor and Uneducated

Bankruptcy does indeed happen to the poor and uneducated.  It also happens to the incredibly wealthy and highly educated.  We have filed bankruptcies for doctors, lawyers, dentists, chiropractors, teachers, managers, business owners, police officers, computer techs and nurses.  Bankruptcy can happen to anyone regardless of past successes or educational achievement.

Not many people file for bankruptcy

Bankruptcy filings are currently down.  But that is not necessarily a good thing when it comes to the economy.  Bankruptcy filings for 2010 through 2012 were astronomical.  Most of these filings resulted from job losses due to the economic struggles in America in general.  Most of these filings were filed by good hard working people who just hit a financial setback.  Financial setbacks can happen to anyone.  It is true that there are people out there trying to game the system, rack up a lot of debt and then file bankruptcy, but they are a very small minority.

MORE INFORMATION

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

FREE CONSULTATION

If you have been suffering through the difficult decision of whether to file for bankruptcy give us a call at 513-752-3900 or 513-422-2994 for Middletown and set up your free consultation.  Even if you decide not to file for bankruptcy at least you can learn what your options are, we have found that even if you decide not to file for bankruptcy at least knowing the options give you a lot of peace.

Contact our Eastgate, Ohio bankruptcy attorney today.

What debts are able to be discharged through bankruptcy?

We are bankruptcy attorneys we have offices located in Eastgate, Ohio and Middletown, Ohio.  We specialized in Chapter 7 and Chapter 13 bankruptcy filings.

WHAT DEBTS ARE DISCHARGEABLE DEBTS IN CHAPTER 7 BANKRUPTCY

Many people when considering bankruptcy filing they will wonder what debts will they be able to discharge through the bankruptcy filing.  The good news is most debtors who qualify for Chapter 7 bankruptcy will be able to have most of their unsecured debts, including credit card debts and medical bills, discharged.  Therefore, the better question to ask would be what debts are NOT discharged under Chapter 7 bankruptcy.

DEBTS NOT DISCHARGEABLE UNDER CHAPTER 7 

Under some conditions that bankruptcy court may reject your bankruptcy petition and you will not be allowed to discharge any debts.  For example if you try to hide property, violate a court order, file and receive a discharge too recently, or you did not complete the financial management course your bankruptcy petition may be rejected.

But assuming the bankruptcy court allows you to move forward with your bankruptcy, there are 19 categories of debts which are listed in the Bankruptcy Code which are not dischargeable under Chapter 7 bankruptcy.

Certain debts are dischargeable because the court considers repayment a "public good."  For instance, child support and spousal support payments are not discharged because the government believes repayment of these debts is critical to the survival of many families.  Other debts may not be discharged only if the creditor decides to object to the discharge of the debt.  For instance, the creditor objects and the court agrees the debts are not discharged.

WHAT DEBTS ARE NEVER DISCHARGEABLE UNDER CHAPTER 7 BANKRUPTCY

There are many debts which are never dischargeable under Chapter 7 bankruptcy.  These debts include any unscheduled debts which are not listed on the Chapter  petition, certain tax debts, fines and penalties which are owed to government agencies, spousal support, child support, student loan debt, debts for personal injury due to OVI, attorney fees for child support and spousal support claims, fines and penalties for criminal restitution and debts for tax-advantaged retirement plans.

If the majority of your debts is for any of the items listed above, Chapter 7 bankruptcy is unlikely to be your best option, but Chapter 13 will be available for your.

CREDITORS MAY OBJECT TO THE FOLLOWING DEBT DISCHARGE

There are other debts in which creditors may file motions to object to the discharge.  If the motion is filed and accepted by the court, the debt will not be discharged.  If the motion is denied, the debt may be discharged.

FREE CONSULTATION

Every situation is unique.  To see what debts you have that you will be able to discharge you need to set up your free consultation with one of our experienced attorneys call us at 513-752-3900 or 513-422-2994 for our Middletown, Ohio office and be straight on your way to a fresh financial start!

MORE INFORMATION

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

Call your Eastgate or Middletown, Ohio bankruptcy attorney today!  We have helped your neighbors and we can help you get out of debt too!

Bankruptcy Office

We are bankruptcy attorneys we have offices located in Eastgate, Ohio and Middletown, Ohio.  We specialize in Chapter 7 and Chapter 13 Bankruptcy.

OUR LAW FIRM

Our law office has been serving you and your neighbors for over 20 years, with a combined experience of over 40 years.  We specialize in bankruptcy filings, this means that we will be able to walk you easily through the bankruptcy process.  You are already under enough stress by the time you walk through the doors of a bankruptcy office, that you should not have to worry if the office knows what they are doing when it comes to your case.  We will be able to walk you through your case and make your bankruptcy filing seem simple and you will know that you are not alone through the process.

PROCESS OF BANKRUPTCY

The way the bankruptcy works at our office is first we offer you a free consultation.

At this free consultation you will be able to sit down with one of our experienced attorneys and discuss your individual situation.  The attorney will then guide you as to the best resolution for your individual situation.  Whether it would be better for you to file Chapter 7, Chapter 13 or just not even file at all.  The attorney will also quote you a full fee at this free consultation.  When you leave our office you will feel confident in the advise given and have an idea of what your next step should be.

If you do decide that you are going to file for bankruptcy protection a small retainer to this office will get things started.  Once you put down that retainer fee you can then stop paying on bills that you do not want to keep and refer your creditors to this office.

We will accept monthly payments on your account balance until your account is paid in full.  We will then file your case once your balance is paid.

APPPOINTMENTS

After your initial free consultation you will then have a two more appointments.  At your worksheet appointment we will sit down with you and gather all of your documentation and let you know of any further documentation your may need.  You may then drop off this documentation and payments at your convenience.  Once all of your fees are paid in full and all documentation is received you will have another appointment.  This appointment is your signing appointment.  At this appointment you will once again sit down with the attorney and go over all of your documentation to be sure that everything is correct.  Once you verify everything is correct you will then sign your documentation in front of the attorney.  Your case will be filed within a few days of your signing.

Once your case is signed you will be assigned a bankruptcy case number.  This is the number that you will give to all of your creditors.  The court will also assign a court date which will be approximately 4 weeks from your filing and then notice all of your creditors by regular US Mail.  After your court hearing is over you will be basically done with the process of bankruptcy filing and will just be waiting for your discharge.

MORE INFORMATION

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

Contact your Eastgate, Ohio bankruptcy attorney today at 513-752-3900 or Middletown, Ohio bankruptcy attorney at 513-422-2994 for your free consultation!

BANKRUPTCY

We are a bankruptcy attorneys we have offices located 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. We offer a free consultation, fair fees and monthly payment plans.

Bankruptcy help is here.

Thinking of Bankruptcy?

We are bankruptcy attorneys we have offices located in Eastgate, Ohio and Middletown, Ohio.  We specialize in Chapter 13 and Chapter 7 Bankruptcy filings.

Are you struggling with debt?  The ends just aren't meeting at the end of the month.  Expenses keep going up, wondering when will it ever end?  Making those minimum payments on your credit cards each month just to see a higher balance the next month?  The stack of bills in the mailbox can be overwhelming and you just don't know where to turn.  The piggy bank is broken and like humpty dumpty it can't be put back together again.

This is nothing new, people have been struggling with debt for centuries. The Statute of Bankrupts of 1542 was the first statute under English law dealing with bankruptcy or insolvency. Bankruptcy is also documented in East Asia. In ancient Greece if one could not pay their debts then the entire family would be put into debt slavery until the time that their debts were paid.  According to al-Maqrizi, the Yassa of Genghis Khan contained a provision that mandated the death penalty for anyone who became bankrupt three times.

BUT THINGS ARE BETTER TODAY

In modern times we do not have to worry about slavery or death because if we have gotten in a little over our heads in debt bankruptcy is available to people going through hard times. It is usually not your fault that you cannot pay your debts, the credit card companies offer more and more credit, medical debt can add up quickly and there are things that are just needed to survive. Bankruptcy is there as a safety net when you hit those hard times and it does not mean that you are a bad person, you are just a good person going through bad times just like all of those other people throughout history.  You can fix your piggy bank and get a fresh financial start and more bright future.

YOU ARE NOT ALONE

There are over a million bankruptcy filings in the United States each year.  People just like you file for federal protection from their debts.  Bankruptcy is nothing to be ashamed of.  Most of your friends and neighbors have had to file at some point in their lifetimes.

BANKRUPTCY CHAPTERS

There are several chapters of bankruptcy available, but most consumers will file a Chapter 7 or Chapter 13 bankruptcy.

Chapter 7 is a total wipe out of all of your dischargeable debts.  This means that you will not have to pay back these debts at anytime at all.  There are very few debts which you cannot discharge through bankruptcy.  Of course secured debts, which you would want to keep such as your vehicle or home you would just keep making your payments and be able to keep these assets if you wish.  Or you may surrender these assets through the bankruptcy case.  Most unsecured debts are able to be discharged through a Chapter 7. Even some IRS debts can be discharged.

Chapter 13 is a repayment plan.  This plan can reduce your debt, as you will only pay a percentage of your unsecured debts.  This chapter can also stop your home from foreclosure or your vehicle from repossession.

FREE CONSULTATION

Everyone's situation is unique.  We offer a free consultation where you can come and speak with an attorney about your current circumstances.

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

Contact your Eastgate, Ohio at 513-752-3900 or Middletown, Ohio at 513-422-2994 bankruptcy attorney today and end your struggle with debt!