Bankruptcy is an effective means of wiping out debt. But not all debts are eligible for “discharge” in the bankruptcy process. It is possible that you will remain several thousands of dollars in debt even going through bankruptcy. For this reason, it is important that you meet with a Toledo bankruptcy attorney to review your …
Common Myths About Bankruptcy
If you are considering personal bankruptcy, you have probably started the process of researching Chapter 7 bankruptcy and Chapter 13 bankruptcy online, and you might have spoken with friends or family members about the process. While some preliminary research into the consumer bankruptcy process can be helpful for debtors who are thinking about filing for …
What Is Chapter 11 Bankruptcy?
A Chapter 11 bankruptcy is one of the least common bankruptcy types for individuals to file. In fact, when most people think about bankruptcy, they think about Chapter 7 or Chapter 13 bankruptcy–the two most common types of bankruptcy for individuals to file. Most of the time, only businesses, such as corporations, limited liability corporations …
How Often Can You File for Bankruptcy?
Filing for bankruptcy is a huge decision. It’s also one that will have an effect on your credit score and financial health for years to come. While most people who file for bankruptcy aim to never do so again, things happen, and you may experience another financial emergency at some point in your life. If …
What is the Means Test in Bankruptcy?
If you’re considering filing for Chapter 7 bankruptcy, you probably already know that a key benefit of the process is emerging debt-free and getting a fresh start. If you qualify, you can wipe out credit cards, medical bills, and other unsecured debt, while also enjoying an automatic stay against creditors seeking payment. However, there are …
What Is Chapter 13 Bankruptcy?
SKILLED IN CHAPTER 13 BANKRUPTCY CASES Are creditors constantly contacting you, trying to collect on debt? Is your phone ringing off the hook, or have you received notices in the mail warning you of foreclosure or having property seized? Worse, have you had a lawsuit filed against you for debt collection purposes? If any of …
What Is Chapter 7 Bankruptcy?
Facing large amounts of debt can be terrifying. Not only may you feel as though you are barred from future financial opportunities, such as buying a house or taking out a loan, but you may also be worried about the present. To be sure, crushing amounts of debt can mean calls from debt collectors, and …