A ruling made by the U.S. Bankruptcy Court for the Western District of Arkansas may have an impact on Ohio debtors. It held that a couple could modify their Chapter 13 plan by returning their vehicle to the lender and treating a deficiency as an unsecured claim. While...
Ohio residents who have high credit card debt may be causing numerous financial problems for themselves. Perhaps the most obvious impact is that payments can take money away from an emergency fund or retirement savings account. On average, an American household has...
Filing for bankruptcy can be a difficult decision for Ohio residents, but it is sometimes the only way to stop creditor harassment, stop foreclosure, provide debt relief, and reduce interest payments. After filing for bankruptcy, many assume their credit is ruined....
A Supreme Court decision in May 2017 set a significant precedent when it comes to debt collection that Ohio residents should be aware of. The decision makes it okay for collectors to file claims in bankruptcy proceedings for debts that have passed the statute of...
One of the things that often holds people back from filing for bankruptcy when they could really benefit from it is the fear of losing personal property. Many Ohio readers often associate bankruptcy with a forced selling of all valuable property in order to pay off...
When Ohio debtors file for Chapter 13 bankruptcy, they propose a plan to repay creditors over three or five years. The court must approve the plan. The debtor's repayments are then supervised by a bankruptcy trustee. However, in a case in Texas, a bankruptcy trustee...
Ohio consumers who file for bankruptcy will see their creditors divided into three different groups. Priority creditors generally are first in line, before secured creditors and then unsecured creditors. A creditor is any person or entity that a debtor owes money to....
When Ohio consumers file for bankruptcy, it will go on their credit report. The bankruptcy may appear on a credit report after it was first filed even if the case was dismissed or a debtor chose to drop the case after filing. Those who file for Chapter 13 bankruptcy...
While many of our posts focus on bankruptcy issues (i.e. discharging debts), we find it helpful to highlight some money saving tips that consumers can take advantage of so that they can avoid the need for bankruptcy protection. Indeed, there are a number of ways to...
Households in Ohio and around the country headed by individuals over the age of 50 now owe more money to credit card companies than younger households according to data compiled by a leading think tank and the AARP. Half of the older Americans surveyed by Demos and...
