Medical debt is the No. 1 reason that people file for bankruptcy. An abrupt illness can lead to excessive medical bills that are even difficult to pay for people who have full-time jobs and health insurance. The medical debt factor has been on the minds of many people...
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Filing your Chapter 13 bankruptcy plan
Are you facing the prospect of going bankrupt in Ohio? The key to successfully handling your debts will be creating an alternate plan under Chapter 13. How can filing under Chapter 13 help you? Filing for bankruptcy under the terms of Chapter 13 can be advantageous in...
What to know about Ohio’s bankruptcy exemptions
It’s a difficult decision to decide to declare for bankruptcy. The stigma attached to bankruptcy, and the fear of losing everything, might discourage you from taking advantage of it to achieve fiscal freedom from overwhelming debts. Fortunately, the law has provisions...
What happens right after filing for personal bankruptcy?
Many people who are considering filing for bankruptcy in Ohio have read about what bankruptcy can do for them in the long term. After completing the whole bankruptcy process, most of your debts will probably be wiped clean, and you can then start the process of...
What to know about the Chapter 7 bankruptcy means test
Chapter 7 bankruptcy gives consumers in Columbus, Ohio, a legal way to remove burdening debt they can no longer handle. Only unsecured debts, such as medical and credit card debt, can get erased in bankruptcy. The secured debts, those that are backed by collateral,...
What happens to a home in a Chapter 7 bankruptcy?
It may be possible to keep your Ohio home after filing for Chapter 7 bankruptcy. However, that will depend on how much equity that you have in the property. Furthermore, you'll need to remain current on your home loan to retain ownership of the property. Let's take a...
5 tips for those considering bankruptcy and divorce
While divorce and bankruptcy are both considered chances for couples to move toward a fresh, exciting future, the two legal processes can overlap and ultimately harm each other. It is wise to research your options and learn more about the challenges you might face....
The difference between Chapter 7 and Chapter 13 bankruptcy
Deciding to apply for bankruptcy is a significant decision. Bankruptcy can free a person from financial struggles and grant them the ability to clean their slate. The decision to apply for bankruptcy is a big decision, but it is not the only one someone needs to...
Personal bankruptcy can help young professionals
Fresh out of graduate school, you found work in your field. But this is, after all, the gig economy. Your job is as a contractor, and you do not benefit from all the perks that full-time employees get. For example, no health benefits. But this may be the least of your...
When is bankruptcy the best option to deal with massive debt?
Millions of Americans face overwhelming debt, and the number having trouble making payments could reach as high as 67 million due to the current pandemic, according to a recent survey by the financial website WalletHub. For many, bankruptcy can be a positive step for...