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I Owe My Parents Money. Should I Pay Them Back Before Filing for Chapter 7 Bankruptcy?
I Owe My Parents Money. Should I Pay Them Back Before Filing for Chapter 7 Bankruptcy?

When people fall on hard times, personally or financially, it is natural for them to turn to family members and friends for assistance. If you have borrowed money from any family members and end up filing for bankruptcy, you may be tempted to try to pay them back first. ...

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Blog posts in Bankruptcy

  • What Happens if I Transfer My Paid-in-Full Car to My Mother Before Filing for Bankruptcy?

    If you recently transferred property (especially valuable property) out of your name, you might wonder if you should hold off filing for bankruptcy. ...

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  • Know Your Rights to Protect Yourself from Debt Collection Scams

    It’s an unfortunate reality that numerous debt collection scams are used to prey on unsuspecting victims across the United States. Under the Fair Debt ...

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  • Income Requirements to File for Chapter 7 Bankruptcy

    If you wish to file for Chapter 7 bankruptcy in Ohio, you must pass the state’s means test. If your income falls below the Ohio median for the size of ...

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  • When Can You Discharge Taxes in a Bankruptcy Case?

    In the right circumstances, bankruptcy can be an effective means of managing and discharging your tax debt. However, determining which taxes can be ...

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  • Gradually Rebuilding Your Credit After Bankruptcy

    If you’re thinking about filing bankruptcy in Ohio, it’s important to consider the impact it will have on your credit score. Even if filing is the ...

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  • The Most Common Causes of Bankruptcy May Surprise You

    The reasons people file for bankruptcy in Ohio and across the nation are almost always more complicated than “fiscal irresponsibility.” There is a ...

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  • How to Create a Sound Debt Repayment Plan

    When you file for Chapter 13 bankruptcy in Ohio, you will still be required to pay off certain debts. The best way to accomplish this is to create a ...

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  • Which Debts Must Be Repaid After Filing for Chapter 13 Bankruptcy?

    Filing for Chapter 13 bankruptcy in Ohio does not completely eliminate your debt responsibility. Instead, you must set up a repayment plan with the ...

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  • Chapter 7 Means Test: The Business Debt Exception

    When you are exploring the possibility of filing Chapter 7 bankruptcy, you will need to undergo a means test to determine if your income qualifies you ...

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