Although the word “bankruptcy” often conjures up images of a shuttered business, the truth is that many Ohio business owners use bankruptcy to stay afloat. Restructuring debts can often keep businesses running while still paying creditors. In other words, they can keep their livelihoods and put a stop to the endless calls from debt collectors. It is also essential to understand that filing for Chapter 13 bankruptcy can be complicated. Read More
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When you think about filing for bankruptcy, you probably imagine losing everything – your home, your car, even your income. Popular media has depicted bankruptcy this way for years. But this is not the case. In Ohio, you are allowed to protect some or maybe even all of your property through bankruptcy exemptions. The monetary values of the items you can exempt and the items themselves are subject to various Read More
You’ve probably resigned yourself to paying your student loans for decades. No matter how bad your financial situation, you know they aren’t going away. Bankruptcy can help with a credit card, medical, mortgage, and other debts, but not with student loans. Historically, private and federal student loans can’t be canceled by bankruptcy. That could all be changing, though. A few court decisions have recently made it clear that there are Read More
If you’re a millennial dealing with debt, you are definitely not alone. The average millennial has some type of debt that prevents them from saving for the future. If you’re in debt, there’s a good chance you’re delaying many important life milestones like getting married or buying a house because you simply can’t afford them. The good news for millennials is there are strategies for dealing with debt to improve Read More
When you can’t pay your bills, creditors will do whatever they can to collect debts owed to them. If you’re working, they may seek to garnish your wages. Should this happen, you have the right under Ohio law to ask the court for a wage garnishment exemption hearing to try and stop the garnishment, or at least limit how much money the creditor can take. In such a difficult financial Read More
A series of lawsuits brought by debt collection companies against delinquent student loan borrowers has revealed that in many cases, private student loan companies cannot prove they own the borrower’s debt. When it comes time to providing a court with documents proving the ownership of a debt, these private companies can’t deliver. In such cases, courts refuse to enforce the debt obligation against the borrower, which effectively releases the borrower Read More
Many Americans facing large debts are desperate for a solution to their financial woes. Yet it seems that a lot of people don’t want to consider filing for bankruptcy as a viable option. Bankruptcy can be viewed as a long, arduous process, when it can be quick and relatively painless, if it’s done right. The best way to make a bankruptcy filing go as smoothly as possible, is to consult Read More