Ohio residents who file for Chapter 7 bankruptcy must turn over all of their nonexempt assets to a bankruptcy trustee so that the assets can be liquidated to pay off creditors. If an individual earns income after a bankruptcy case has commenced, this money does not...
Month: August 2016
Fee-only Chapter 13 bankruptcy may be an option
Ohio consumers who decide to file for bankruptcy protection may choose between Chapter 7 and Chapter 13 bankruptcy if they are eligible. While many people opt to file under Chapter 7, there are some situations in which Chapter 13 is a better option. A case decided in...
Good news on Ohio bankruptcy front comes with a caveat
Financially, things are materially improving in Ohio and nationally, in the long wake of the country's so-called Great Recession that launched with frightening and sustained ferocity back in 2007. But, where statistics are concerned, it invariably seems to be the case...
Consumer agency weighs in on collection industry with reforms
Many readers of our Ohio bankruptcy blog perhaps know a thing or two -- or, unfortunately, much more -- about the underside of the country's vast debt collection industry. Their knowledge might come from the anecdotal imparting of adverse information supplied by...