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Category Archives: 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. However, this might not be a […]

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. In general, if you transferred property to another person before filing for bankruptcy protection, the bankruptcy trustee might be able to void that transfer and get the property back in your name […]

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 Collection Practices Act, you have a variety of rights guaranteed to you to protect you from abusive or misleading tactics. Some of your rights as a debtor include the following: The […]

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 your household, you automatically pass the test.  In most instances clients that are below the median household income are able to file for Chapter 7; […]

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 discharged at a given time is not always easy. The timing of your taxes will play a big role in your ability to discharge them. The taxes you discharge can include both […]

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 right decision, based on advice from your bankruptcy attorney, you must be prepared to take a significant hit to your credit. Fortunately, there are steps you can take to […]

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 common misconception that people or businesses go bankrupt because of poor money management, but that’s not usually the case. The following are some of the most common causes of bankruptcy, and many […]

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 realistic debt repayment plan with the help of an experienced bankruptcy attorney that allows you to fulfill your obligations over an extended period of time. The […]

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 help of your attorney to pay back certain types of debts that cannot be discharged through the bankruptcy process. Chapter 13 organizes debts into several categories: secured claims, unsecured priority claims […]

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 for the process. This test looks at whether you have the disposable income to pay back your creditors. If you don’t, because your current monthly household income is less […]

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