There are many benefits of filing for Chapter 7 bankruptcy, including the ability to eliminate some (or all) of the debt that has been dragging you down. If the time comes to strongly consider Chapter 7 bankruptcy, don’t proceed until you realize what type of debt can be discharged. You should never assume that all your debt will be eliminated,…
If you receive a foreclosure notice from your mortgage lender, the best thing you can do is make an immediate phone call to better understand your situation. It’s a common misconception that your lender wants to repossess your home. In all reality, they’d much rather you catch up and continue to make timely payments in the future. If you’ve slipped…
You may be one of many Ohio residents who owns several credit cards. On the other hand, you may be the type of person who only has one credit card and tries to use cash at all times, except in rare circumstances. Surprisingly, no matter which classification you relate to most, either scenario can lead to serious financial problems if…
Although you’re likely to lose your credit cards in bankruptcy, you’ll have some big decisions to make once you come out the other side. There will come a point when you once again have to consider the benefits and risks of carrying a credit card. If you’re able to avoid this, it may be in your best interest to do…
With a variety of high level benefits, it’s easy to opt for Chapter 13 bankruptcy before ever learning more about the process as a whole. Unlike Chapter 7, with Chapter 13 bankruptcy you’re required to use a repayment plan to pay back some of the money you owe creditors. It may not be the ideal situation, but if you don’t qualify for…
The summer months are a time when many families in Ohio choose to take part in a variety of activities. With school being out for summer and warm weather finally settling in, you might have plans to take your family on a vacation, or you may have decided to allow your children to attend summer camp. As travel expenses can…
After a bankruptcy, you may think you have little left that you can do in your life. You may think you’ll be without the ability to take out a new mortgage, to get credit or to move on with your life for several years. The reality is that you can begin to build your credit back up immediately by things…
Even though you do everything you can to keep your financial head above water, there could come a point when you have no choice but to file for Chapter 7 bankruptcy. Before you make this important decision, it’s first important to review your situation to better understand your options. Here are some of the many reasons why Chapter 7 bankruptcy…
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…
Are you one of many Ohio residents who cringe whenever someone mentions bankruptcy? It’s definitely a term that has been attached to some very negative stigmas. In recent years, however, that has changed, as more and more people (perhaps including you) have come full circle to realize that bankruptcy is often a viable choice in light of serious financial problems.…