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Thursday, May 23, 2019

Can I File for Bankruptcy…Again?


You made the tough decision in the past to file for bankruptcy, but now you find yourself in the same or similar situation once again. The question on the minds of anyone who finds themselves in this situation is whether or not you can do it once again. Can someone who has filed for bankruptcy before do it for a second time? The basic answer: yes. 

If you have filed for bankruptcy in the past and find yourself in the same difficult position once again, you can in fact file bankruptcy twice. Actually, there is no limit to how many times you may do so.
Read more . . .


Thursday, May 16, 2019

With Impending Lawsuits, Maker of OxyContin Contemplates Bankruptcy


As the opioid epidemic continues to wreak havoc on the lives of many, one of the companies responsible for making billions off of the prescription painkiller, OxyContin is facing consequences in the form of hundreds of lawsuits holding it responsible.

Purdue Pharma, the maker of OxyContin since 1996, is currently considering numerous legal options and exploring several eventualities due to the sheer amount of litigation it faces. One such possibility is for the company to file for bankruptcy, though no decisions have been made as of yet. 

However, the option of filing for bankruptcy has been seen as a possibility of high likelihood given that the privately held company has sought help with restructuring it over the past year. Members of the Sackler family, who own Purdue Pharma, have given large sums of money to several museums around the world.
Read more . . .


Monday, April 29, 2019

Alternatives to Bankruptcy


Is bankruptcy the only way to stop creditor harassment?

If you are among the millions of Americans struggling with debt, now is the time to explore your options so that you can end the harassment, eliminate the stress, and start living again. For many debt laden Americans, declaring bankruptcy is the most effective method for debt elimination.  However, bankruptcy is not right for everyone and it is important to consider what other options you might have before filing. Our Miami Valley, Ohio bankruptcy lawyers discuss some alternatives to bankruptcy below.

Negotiating With Your Creditors

For some people with debt but also income coming in, it may be an option to try to settle your debt by negotiating directly with your creditors.
Read more . . .


Thursday, April 25, 2019

I’ve Filed Chapter 7 Bankruptcy: Can My Lender Repossess My Car?


You realize that you are in bad financial “shape,” so you decide to file for Chapter 7 Bankruptcy. So on top of everything can your car loan lender repossess your car or try to collect debt? It depends.

Debtors Protected by Automatic Stay

When you file for Chapter 7 bankruptcy, an order is automatically created, known as an automatic stay. An automatic stay means that it is unlawful for most creditors to continue to collect from you – or even call you. This means that your car loan lender will not be able to collect any debt from you and is unable to repossess your car without first receiving permission from the court.


Read more . . .


Monday, March 18, 2019

How to Stop the Repossession Process


There are many related issues when it comes to financial problems. For those who find themselves swimming in debt, it is likely that they are also dealing with creditors and collections agencies looking for their compensation. Sometimes when an individual does not have the ability to pay, the creditors will take the action of repossession. 

What is Repossession?

Repossession is the act of reclaiming property when an individual defaults on a loan. For instance, if you default on paying your car bill an Ohio creditor is able to take back the vehicle.
Read more . . .


Monday, March 11, 2019

What to Know Before Filing for Bankruptcy in Ohio


Before Filing for Bankruptcy Do…


  1. DO remain honest. It is imperative that you remain truthful not only to yourself but also to your bankruptcy attorney in order for them to be able to adequately help you. The good news about the attorney-client privilege is that he or she will not share information that you do not want to be discussed and he or she will let you know when you have a legal obligation to disclose of certain information or face penalty of perjury. 

  2. DO continue to make vehicle payments. Your vehicle can be repossessed without notice if you default on a payment.
    Read more . . .


Friday, February 15, 2019

Creating a Chapter 13 Plan You Can Live With


How much should I budget per month to cover my expenses and my repayment plan?

Chapter 13 bankruptcy can provide qualifying debtors with the relief they seek through bankruptcy, will still allowing them to maintain their home, car, and other assets.  Chapter 13 is often referred to as the “reorganization” chapter because it focuses on reorganizing your debts, as opposed to wiping them out, so that they become manageable.  For homeowners and those with assets that exceed the Chapter 7 limits, Chapter 13 can provide the perfect answer.  Chapter 13 files will need to take care when creating their repayment plan so that they develop a plan that they can stick to for several years to come.  Below, our


Read more . . .


Friday, February 8, 2019

Toys ‘R Us Bankruptcy Negatively Impacts Toys for Tots Program


Toy store giant, Toys ‘R Us, recently broke the hearts of many when it recently filed for bankruptcy. On top of making it much more difficult for parents to find the appropriate toys for their children this past holiday season, it also had a very negative effect on the Toys for Tots program, making it very difficult for the charity to adequately obtain the toys it needed to donate to families in need. 

A Strong Partnership

Toys for Tots, a long-running program conducted annually by the United States Marine Corps Reserve, collects and donates toys to the children of parents who are unable to otherwise afford to buy them. Originally the program used to leave a container outside of most Toys ‘R Us stores so that their customers would be able to drop a toy on their way in or out of the store. By doing so, this enabled stores to collect a nice amount of donations – for some stores even thousands of toys.
Read more . . .


Friday, January 25, 2019

Your Car in a Chapter 7 Bankruptcy


Will I need to sell my car if I file for Chapter 7 bankruptcy?


Chapter 7 bankruptcy can offer a lifeline for individuals struggling with burdensome debt.  One of the main concerns of potential bankruptcy filers, however, is that they will lose some or all of their assets.  Chapter 7 does have strict requirements for filing and could require the sale of some of your property.  Fortunately, exemptions do exist that may allow you to keep some items.  Our


Read more . . .


Sunday, January 20, 2019

Does Filing for Bankruptcy Affect Your Retirement Account?


Most of us spend decades in the workforce, building our wealth and saving for the day when we get to retire. You may have spent 30, 40, or even 50 years of your life building up your retirement savings to ensure that you can stop working and maintain a comfortable lifestyle for you and possibly your spouse. But what happens when times become difficult and you must file for bankruptcy? Are those same retirement accounts vulnerable for paying off debts? Are they considered an asset? Luckily, in most cases the answer is “no.”

Should you find yourself filing for a Chapter 7 or Chapter 13 bankruptcy, your creditors will not be able to touch most retirement accounts, as they are considered to be
Read more . . .


Wednesday, December 26, 2018

Filing for Bankruptcy Again


How often can I file for Chapter 7 bankruptcy?


At times, bankruptcy filers will find themselves back in a negative financial position.  Perhaps the initial Chapter 7 discharge did not resolve ongoing job issues, health problems, or spending habits, which allowed the filer to end up back in debt.  Regardless of what has brought you to consider bankruptcy the second time around, the good news is that many people can file for Chapter 7 or Chapter 13 bankruptcy again and receive the same beneficial discharge of their debts as they did the first time.  Bankruptcy laws do put time limits on how often you can file. Our Read more . . .


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Miami Valley Bankruptcy, Brian Lusardi, Esq., assists clients with Bankruptcy matters including but not limited to: Common Myths, Cost of Bankruptcy, Chapter 7 Bankruptcy, Chapter 13 Bankruptcy, The New Bankruptcy Law and Personal Bankruptcy in Xenia, Ohio, and the cities of: Wilberforce, Alpha, Spring Valley, Dayton, Bellbrook, Yellow Springs, Cedarville, Fairborn and Clifton; and the counties of Greene and Montgomery.



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