Thousands of Ohio residents fall victim to identity thieves each year, and the resulting harassment from creditors and debt collectors prompts some victims to consider filing a personal bankruptcy. While a bankruptcy filing does put an end to creditor harassment, it may not be the most prudent path to take for individuals who have temporary credit issues rather than an overwhelming and unmanageable financial situation.
Court rules in favor of debtor in Chapter 13 case
Ohio residents may be interested in a ruling holding that a vehicle involved in a title pawn is still part of the debtor's Chapter 13 bankruptcy estate. This was the decision made by the U.S. District Court for the Middle District of Georgia. However, the lender is still entitled to be paid according to the terms of the loan or entitled to take the title to the car if payments are not made.
Love and borrowing: Four tips on borrowing money to family members
Family members love each other and want to support one another through tough times both emotionally and financially. A perilous situation can arise, however, when a family member borrows money to a loved one facing significant debt and, potentially, bankruptcy. If you are seeking money from a family member to stay afloat financially, you know there's reliability in your close personal relationship - but is there a place to draw the line?
Stopping stale debt from being collected
It is possible that a debt may no longer be legally collected because the applicable Ohio statute of limitations has expired. However, companies may still try to collect on that debt as it can be profitable to do so. This is because making a single payment on such a debt can restart the statutory period and allow a debt collector to take an individual to court.
