When Ohio consumers file for Chapter 13 bankruptcy, they must submit a repayment plan that has to be approved by the court. The repayment plan takes between three and five years, and it is generally based on the income of the debtor. A March bankruptcy court ruling...
Many Ohio residents have a very tight budget, and it may take only a single financial emergency to send them on a path the bankruptcy. People who are considering filing for bankruptcy should be aware of the myths that surround the legal procedure. Filing for...
Ohio residents who pass away are likely to do so while still in debt. According to December 2016 data provided by Experian, 73 percent of consumers who died owed money to creditors. On average, an individual died with $61,554 when a mortgage balance was included....
You might consider filing a Chapter 13 bankruptcy in order to keep your house and the assets you worked hard to accumulate. Someone may have told you that, after three to five years of tightening your belt and making payments to your creditors through the court, you...
When someone in Ohio files for bankruptcy protection, the court will consider many factors before allowing the case to move forward. A dismissed case that involved a convicted felon and income provided by his parents illustrates the scrutiny that a court will apply to...
Debt that is owed to creditors may be sent to a collection agency if attempts by the original creditor to obtain payments have failed. Ohio residents who are concerned about debt that has been referred to a collection agency should know that collection accounts can...
With the ease of obtaining credit cards and personal loans these days, people tend to consider debt as commonplace yet have little to nothing in savings. In fact, according to a survey, about a third of the U.S. population have nothing in savings, another third have...
Ohio residents and Americans elsewhere have been turning to their credit cards as they start to feel better about the economy. According to 'The Nilson Report," credit card debt topped $1 trillion in 2016, which was the first time that has happened since the start of...
Ohio residents who file for bankruptcy must pass a means test that decides whether they are eligible for Chapter 7 or Chapter 13 bankruptcy. The idea behind the means test is to keep the number of people who are able to file for Chapter 7 and most of their unsecured...
Ohio residents, under the right circumstances, can file for bankruptcy to help them when they are facing significant financial struggles. The two main types of bankruptcy available are Chapter 13 and Chapter 7. In a Chapter 13 filing, the discharging of some remaining...
