Debt is one of the true horrors of the modern world. As we become more unavoidably connected, personal debt takes on an eternal life that makes it almost impossible to outrun, even legitimately. As debt moves from one creditor to a second and third and so on, the context of the original debt becomes lost, leaving only raw information in…
Credit cards can be useful for the average Ohio consumer, but when the balance becomes unmanageable, this can eventually snowball into a serious financial problem. Credit card debt is one of the most common types of debt because many people use their cards when cash flow is limited, or they depend on credit in the event of an emergency. If…
On of the many advantages of employing a bankruptcy procedure is the ability of the courts to discharge a debtor’s debts under exceptionally difficult circumstances that are deemed beyond the control of the debtor. This component of bankruptcy is referred to as a hardship discharge. Just such a circumstance was demonstrated recently in a surprisingly literal manner when an attorney…
For over 30 years Robert Goering has been teaching the Bankruptcy Law Class at Chase College of Law. This is part of the 2016 exam that was recently administered covering Bankruptcy Law. Test your knowledge… a. You can file Chapter 7 every ______ years. b. A Chapter 7 Trustee finds assets to administrate in almost every Chapter 7 bankruptcy case?…
Bankruptcy is not a procedure to be taken lightly, and those who choose to employ it will almost certainly pay an emotional toll. The good news is that proper preparation can help you to make the most of a bankruptcy procedure and healthfully deal with many of the issues that arise before they can take a heavy toll. The reality…
There are many misconceptions about the bankruptcy process, and these ill-informed opinions are a large reason why people refrain from seeking much-needed relief through bankruptcy protection. You may not know a lot about bankruptcy, but for many people facing overwhelming debt, it is a reasonable, beneficial choice. If you are considering this step, you may be wondering about what will…
Bankruptcy is certainly not limited to individuals, as one for-profit college with a branch in Ohio recently demonstrated. Although the college had operated for 30 years, the changing landscape of education forced the establishment to close it’s doors and file for a Chapter 7 bankruptcy. Like any bankruptcy, there will be some fallout, as more than a thousand students are…
If you are overwhelmed by debt, you may be weighing the advantages and disadvantages of filing for bankruptcy or maybe seeking the help of one of the many businesses that purport to repair your credit. This is an important decision, one which may determine many things about how you go about your life for many years. Unfortunately, many credit repair…
How Bankruptcy Affects Credit Score Many people in Ohio and elsewhere who are struggling with overwhelming debt may have considered filing for bankruptcy to find relief. However, bankruptcy has a stigma attached to it that may prevent people from filing simply because they worry about what will happen to their credit scores. While your credit score will certainly take a…
Chapter 13 bankruptcy is an excellent tool for many people who have found themselves unable to get on top of their debt. More than many other forms of bankruptcy, Chapter 13 places an emphasis on enabling a debtor to make good on many debts rather than simply abandoning them. This can make Chapter 13 plans attractive to both the debtors…