Ever feel like debt has totally overwhelmed you? Many people are completely over their head in debt, and the anxiety causes difficulty breathing. You are not alone.
As an experienced Columbus Ohio bankruptcy attorney, I can help you determine if bankruptcy is a good choice. As a licensed Ohio attorney, I can guide you through the bankruptcy process and help you achieve a fresh start to your life. If an alternative to bankruptcy is better for your situation, I can help you with that as well.
There are generally 2 types of bankruptcy for the average Bankruptcy Debtor, a Chapter 7 bankruptcy and Chapter 13 bankruptcy. To determine if you qualify for a Chapter 7 bankruptcy, the bankruptcy court uses 2 tests for eligibility, the Means Test (or your income relative to the average American median income) and the Totality of the Circumstances Test (or compare your monthly debt to income).
When a person receives a Bankruptcy Discharge , the discharge allows the debtor to discharge all underlying contractual obligations on the debt. A Chapter 7 bankruptcy is known as a fresh start because it allows bankruptcy debtor (or the person filing the bankruptcy) the opportunity of a fresh start from the unsecured creditors of credit cards, medical bills, and other types of debt. A Chapter 7 bankruptcy allows the debtor to get rid of or discharge most unsecured debts. A Bankruptcy Discharge means that the bankruptcy estate has successfully discharged all unsecured debts that are owed.
The Bankruptcy Trustee represents the various creditors of the debtor, and Bankruptcy Trustee's Duty is to evaluate all the assets and liabilities of the debtor. A Bankruptcy Trustee may Avoid Liens. A 341 Bankruptcy Meeting of Creditors is conducted to evaluate the debtor's situation. The Bankruptcy Trustee can sell property if there is equity in the property, and they can Distribute the Bankruptcy Proceeds to the various creditors according to priority of the claim.
Some debts are not eliminated in a Chapter 7 bankruptcy. The most common non-dischargeable bankruptcy debts are taxes, student loans, child support, and government loans. Also, any personal injury caused by a motor vehicle driven by debtor while intoxicated may not be dischargeable. Any debt created by false pretenses, a false representation, or actual fraud is also not dischargeable.
With automobiles, a Chapter 7 Bankruptcy filing of a Redemption makes it possible to reduce an existing car loan down to fair market value. A Chapter 13 Bankruptcy can help catch up on car and house payments. In addition, sometimes a Chapter 13 Bankruptcy can "cram down" the amount owed on a car if the car has been owned more than 910 days.
Some Utility Shut-Offs may be stopped for a limited time after filing for bankruptcy. The Utility company may request an additional deposit within 20 days of the filing of bankruptcy.
In my free initial consultation, I assess what is going on with a client and determine if I can help them. My fees are based on the complexity of the case, but I try to competitively price my fees in a reasonable, affordable, and efficient way. Please call me at the following to set up a free initial consultation:
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