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July 2017 Archives

Yes, you can get a mortgage after bankruptcy

For many people, filing for bankruptcy can feel like a jumping off a cliff and not knowing what waits at the bottom. If you are considering bankruptcy, this fear can keep you from moving forward and creating a real second chance for yourself. Among the other things that worry people about life after bankruptcy is whether or not they'll ever be able to qualify for a mortgage and buy a home.

Can I protect investments from Chapter 13?

When a person begins to consider a bankruptcy, often he or she has many concerns about which pieces of his or her property can be exempted from the process. Persons with various investments have a good deal of homework to do if they want to fully understand which of their investments may withstand the process and which face the greatest threat. 401k plans and Roth individual retirement accounts (IRSs) both enjoy some protections against collections during bankruptcy, but they both also feature exceptions to those protections.

Will Chapter 7 liquidate my home or retirement savings?

When you begin to consider filing for bankruptcy, it is understandable that you may have many concerns about what you'll have to give up in exchange for a fresh start, especially when it comes to your home or retirement assets. While a Chapter 7 bankruptcy does require you to liquidate assets in order to discharge some or all of your debt, it does not require you to liquidate every kind of asset.

If I file for bankruptcy, will I have to give up my stuff?

Filing for bankruptcy is never an easy decision. One of the most common things that holds Ohio residents back from making this often beneficial decision is fear of losing personal property. While this is a normal fear, people who file for Chapter 7 bankruptcy often find themselves relieved to learn that they can, in fact, keep many or most of the things they hold dear.

Ohio court rules against late claims in Chapter 13

An Ohio bankruptcy court has made a very specific, but important, ruling about Chapter 13 bankruptcies — one that could affect many bankruptcy procedures in the future. Under a Chapter 13 bankruptcy, a secured creditor can file a claim against party seeking a discharge, but they should do so by the deadline laid out when they receive notice of the bankruptcy.