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…
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…
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…
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.…
During the first three months of 2018, Americans paid off more than $40.3 billion worth of credit-card debt according to WalletHub researchers. While this may sound like good news, Americans accumulated $91.6 billion in new debit on their credit cards just last year alone. The amount of new credit-card debt accumulated by Americans during 2017 is the highest it’s been…
Despite all the benefits of Chapter 13 bankruptcy, such as the ability to start fresh with your finances, there are some potential disadvantages to become familiar with before pushing forward. Here are some things to keep in mind: A Chapter 13 bankruptcy requires you to use a repayment plan to pay some or all of your debts. This can last…