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Showing posts from June, 2021

Cheap Ohio Bankruptcy Lawyers - 7 Tips to Find a Low Cost Attorney

 Finding the right Ohio bankruptcy lawyer can mean the difference between a smooth process and a bumpy ride. It is possible to file bankruptcy on your own, but bankruptcy lawyers are familiar with the paperwork, the laws and other technicalities that will help you get the best settlement possible. Tips for Finding Cheap Bankruptcy Lawyers in Ohio Start soon.   Putting off finding a cheap lawyer in Ohio will only leave you scrambling in the end. A rush to a decision could leave you with an attorney that you are not comfortable with in the long run. Start your search early and you will have time to make a decision that will help guide you to the best results. Ask questions.   Ask people that you know about any experience they may have had with local bankruptcy attorneys. Ask the lawyers that you have consultations with about their previous experience. Look in the internet about any complaints or compliments about the different attorneys that you are consideri...

Bankruptcy Myth: When I file bankruptcy all my debts will go away….NOT TRUE

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    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

  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...

How To Keep Your Car When Filing For Bankruptcy Relief

  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 ...