Chapter 7 Bankruptcy Ohio

    Chapter 7 Bankruptcy provides for the discharge of several types of debts, but exceptions exist so read on…   Let’s start with some examples of the types of debts that Chapter 7 Bankruptcy will successfully discharge: medical bills, most credit card debts, vehicle repossessions, utility shut offs, home foreclosure deficiencies, and most unsecured personal loans.   Next, let’s consider some of the non-dischargeable debts.  The following types of debts are generally non-dischargeable in a Chapter 7 Bankruptcy, meaning that these debts may survive the bankruptcy process and still be due and owing after your Chapter 7 Bankruptcy is concluded:   Child support and other domestic support obligations Student Loans Recent income taxes Certain debts incurred just prior to filing for bankruptcy Criminal restitution Court fines and court costs Most secured loans (UNLESS you are surrendering the collateral)   While you can discharge you...

  Toledo Bankruptcy Market Remains Eerily Quiet Through April 2021   As COVID-19 Pandemic restrictions slowly begin to lift, we are still waiting to see what the local economic fallout will be from the Coronavirus Pandemic.  One notable indicator of local economic status is the number of personal bankruptcy filings.   According to the Northern Ohio Bankruptcy Court’s website , there have been only 855 local bankruptcy filings in the metro Toledo, Ohio area as of April 30, 2021.  790 of said filings were Chapter 7 bankruptcies, 60 were filings under Chapter 13, and the remaining 5 were filed under Chapter 11 of the United States Bankruptcy Code.   To put these numbers into some perspective, we can look at the number of personal bankruptcy filings in 2019, pre-Coronavirus Pandemic.  Through the same four month period in 2019, the number of personal bankruptcies filed in the Toledo Court was 1,397.  This sharp comparison to 2019 represents a 39% redu...

  Yes, it is possible to keep your car when filing for personal bankruptcy.   For years there has been an unproven belief that you will automatically lose your car or truck in exchange for wiping out mounting credit card debts and burdensome medical bills.  It’s not a rule and it’s not the norm.  Keep reading and see how this works.   About 86% of all personal bankruptcies filed in the metro Toledo, Ohio area are filed under Chapter 7.  Chapter 7 bankruptcy is one type of personal bankruptcy and it essentially wipes out one’s unsecured debts such as credit cards, medical bills, vehicle repossessions, home foreclosures, utility shutoffs, cell phone bills, and more.  Generally speaking debts such as student loans, taxes, and child support are nondischargeable in Chapter 7 bankruptcy . Most secured debts such as mortgages and car loans can continue so long as the debtor keeps current on such bills.  Since Chapter 7 bankruptcy liquidation does ...

When one is faced with overwhelming financial debt and is considering the possibility of insolvency, another big choice must be decided: How to Choose a Personal Bankruptcy Attorney? The most important thing to consider in this choice is experience. Absolutely nothing will certainly put you at more simplicity in understanding that every little thing is going according to strategy than the experience of the lawyer that you have selected. You can always discover a lawyer that will certainly file your bankruptcy for peanuts, yet after that you frequent the scenario you would remain in if you submitted the instance yourself. In this circumstance both you as well as your unskilled lawyer are discovering the regulation as you go and you are really feeling the exact same butterflies and consternation as the attorney that is being chastised for mistakes that were made in the case. Believe me, I recognize that considering that you are filing an insolvency you don't have much c...

When you're considering submitting for bankruptcy, you're in all likelihood questioning what it is which you need to do. Most human beings haven't any idea how to proceed, aside from they know that they need to have a Toledo financial disaster lawyer. The reality is, you're going to want to have some information that you'll be capable of deliver your financial ruin legal professional in Toledo so that he or she can get began along with your case. Often, folks that want to document do not have all of the facts that they want for his or her attorney, and this could abate them. What Do You Need for Your Toledo Bankruptcy Lawyers? When you are speaking with the financial ruin attorney in Toledo, you are going to need to have as a lot records as viable geared up to go. It is going to make the conversation proceed faster, and it manner that they lawyer could be capable of start your case sooner. You want to recognize to whom you owe and what sort of you owe to...