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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 . . .


Monday, November 26, 2018

Can Credit Card Debt Send You to Jail?


Many Americans own at least one credit card. They are convenient when it comes to paying for large purchases or buying things online, which has become increasingly common. Some restaurants even no longer accept cash payment. However, it is this “convenience” that often causes many individuals to find themselves in credit card debt.

The Federal Fair Debt Collection Practices Act

Under the federal Read more . . .


Monday, November 12, 2018

Discharging Your Business Debts in Chapter 7 Bankruptcy


What business debts can be discharged in bankruptcy?

Eight out of ten small businesses will ultimately fail, according to Bloomberg.  Running a successful small business in America is challenging and there is no defeat in admitting that your business is struggling.  Business owners overwhelmed by debt may wish to consider filing for Chapter 7 bankruptcy. Depending on your business structure, Chapter 7 bankruptcy may offer a way for your business to be saved or offer a means of liquidating should you elect to close the business.  Our Read more . . .


Saturday, October 13, 2018

Student Loan Debt Continues to Crush Families

Can student loan debt be eliminated through bankruptcy?

With the rising costs of education, Americans across the country now owe more than $1.48 trillion in student loans.  Over 44.2 million Americans have student loan debt, according to federal reserve data, and at least eleven percent of borrowers are considered delinquent in repayment of their debts.  The average monthly student loan payment is $351, with many borrowers who attended grad school paying twice that amount or more.  America is in the midst of what has been termed a student loan debt crisis, and as of yet the federal government has taken little action to assist borrowers.  Our Ohio bankruptcy lawyers explore student loan facts and examine when student loans can be erased in bankruptcy below.


Read more . . .


Tuesday, September 18, 2018

Ohio Nuclear Plant Faces Tough Questions in Bankruptcy Court

In Ohio, the bankrupt FirstEnergy Solutions and the FirstEnergy Nuclear Operating Co. have been okayed by their creditors to spend another $100 million over the course of the next three years. The companies say that this is so that it will be able to provide generous bonuses to certain nuclear power plant employees.


Read more . . .


Tuesday, September 11, 2018

Taking Out a Loan Post-Bankruptcy

Will I be able to qualify for an auto or home loan with a bankruptcy on my record?

One of the main concerns of potential bankruptcy filers is what impact a bankruptcy will have on their credit. Rebuilding your life post-bankruptcy could require taking out a loan to pay off bills, purchase a home, or buy a car. There is a common misconception that a bankruptcy on your record will destroy any chances of taking out a loan or securing credit.


Read more . . .


Thursday, August 30, 2018

Ohio Brokerage Hopes to Renege on Agreement to Pay Elderly Client

Last month, Westminster Financial Securities agreed to pay an arbitration settlement of $275,000. However, the firm is now attempting to rely on a unique legal strategy to renege on the award.

A Bizarre Tale of Misleading Advice

Sixty-eight year old, Mary Krevosh, was a client at Westminster for four years through June 2016. She and her attorney had reached a settlement agreement with Westminster as a conclusion to her original claim in regards to her experience working with one of its brokers, Louis Telerico, who had his license suspended for six months. She argues that he misled and took advantage of her on numerous occasions, including bizarre recommendations.


Read more . . .


Friday, August 3, 2018

Tax Debt and Your Options

Can I eliminate my tax debts in a Chapter 7 bankruptcy?

Owing money to the IRS can be frightening. Tax debt is perhaps one of the most feared debt by consumers, but the good news is that you do have options when it comes to resolving tax debts. Tax debt includes any taxes owed to the IRS after the filing deadline has passed. Unpaid taxes may subject you to substantial penalties. Additionally, the IRS has far reaching power to collect on unpaid taxes, including wage garnishment and seizure of assets.


Read more . . .


Monday, July 23, 2018

Discovery Tours Bankruptcy Details Delayed Until Fall

Discovery Tours, a school tours company that filed for bankruptcy, had its hearing delayed until September 20, with the goal of providing court officials with more time to look through company records, including bank statements, credit card statements, PayPal accounts, and cash flow to and from the tour company to hotels, bus companies, and the owners of Discovery Tours.

Closure of Company, Limited Assets

The company, based out of Mayfield Village, Ohio has been in the business of educational tours for schools (to New York City, Chicago, the Henry Ford Museum outside of Detroit, Michigan, and Washington D.C.


Read more . . .


Tuesday, July 10, 2018

Don’t Delay in Filing for Bankruptcy


How might waiting to file for bankruptcy hurt my finances further?

Filing for bankruptcy is a big step, and often one that people avoid. While it may seem natural to put off filing for bankruptcy as long as possible, a new report from the Notre Dame Law Review reveals that waiting to file for bankruptcy can cost you. The report finds that the longer you avoid bankruptcy, when you are financially struggling, the greater your debt load will be. 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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