While there are a few situations in which bankruptcy might be abrupt and out of one's control, the financial downfall that ultimately leads to one having to file for bankruptcy can oftentimes be halted with the adjustment of a few key factors. When an entity does...
Month: September 2018
Reviewing household item exemptions
Many in Cuyahoga Falls may hold misconceptions about personal bankruptcy, the chief among these being that it is somehow perceived to be a way for one to take "the easy way out" from their financial struggles. The fact that (according to information compiled by the...
What are the Chapter 7 and Chapter 13 eligibility requirements?
If you feel overwhelmed with crushing debt, filing for bankruptcy may be a way that you can reboot your finances and start over. There are usually two types of bankruptcy that individuals in Ohio may file: Chapter 7 and Chapter 13. Chapter 13 is reorganization...
What property is exempt from Chapter 7 bankruptcy?
Even when in the direst of financial straits, you may be reluctant to file for Chapter 7 bankruptcy in Ohio. You may be afraid that you will need to forfeit everything you own in order to pay off your debt, leaving you with nothing. In reality, this...
Taking A Tactful Approach Toward Overcoming Medical Bills
An uninsured college student with a tonsillectomy; a mother receiving medical treatment for lymphoma; and a retiree overwhelmed with prescription drug costs. Three different scenarios that all have one main thing in common: medical debt. Medical costs in the U.S....
What debts are excluded from Chapter 13 discharge?
If you qualify for Chapter 13 bankruptcy, it offers you many potential benefits. Because a Chapter 13 bankruptcy reorganizes your debt rather than liquidating assets in order to pay it off, in most cases you will be able to retain your property in Ohio, such as...