Monday, March 16, 2020

Dealing with Objections from Creditors in Chapter 7 Bankruptcy

Can creditors stop the discharge of my debts?

Chapter 7 bankruptcy filers are typically individuals who have found themselves burdened by hefty debt. Millions of Americans find themselves in the position of being weighed down by debt each year. In filing for Chapter 7 bankruptcy, your ultimate goal is to obtain a complete discharge of your debt. Chapter 7 bankruptcy can allow you to wipe out certain debts so that you are no longer personally liable and the creditor has no right to collect on the debt. Not all debts, however, are capable of discharge.

Read more . . .

Tuesday, February 18, 2020

The Time Frame of a Chapter 7 Bankruptcy

How long does the average Chapter 7 bankruptcy case take?

After you have researched Chapter 7 bankruptcy and determined it is the best course of action for you, you may have additional questions. You will likely find yourself wondering what the next steps involve and how long the entire process will take. A Chapter 7 case can take several months to complete and will require that you adhere to certain steps to ensure you achieve the discharge of your debts. Our Read more . . .

Thursday, February 13, 2020

What to Bring to Your Bankruptcy Attorney Consultation

What is the most important document to bring for your new attorney’s review?

Once you have made the decision to pursue filing for Chapter 7 or Chapter 13 bankruptcy, you will need to select a potential attorney and schedule your first meeting. You might find your attorney through personal recommendations or online reviews. Your initial consultation will be important for you to affirm your choice of lawyer and for your attorney to review your case. In order to provide your Read more . . .

Monday, January 20, 2020

Understanding Bankruptcy Through Statistics

How many people file for bankruptcy each year?

If you are considering filing for bankruptcy this year, you are far from alone. At any given moment, millions of Americans are struggling under oppressive debt. Statistics show that about 800,000 people will file for bankruptcy each year. Bankruptcy is quite common, with many now wealthy Americans having gone through the bankruptcy process at some point in their lives. To better understand bankruptcy trends throughout the years, our Read more . . .

Thursday, January 16, 2020

Rebuilding Your Credit After Chapter 7 Bankruptcy

Will I be able to buy a home again after declaring bankruptcy?

Many potential bankruptcy filers are understandably concerned about how filing for bankruptcy may affect their credit. There is a common misconception that declaring bankruptcy will tank your credit score for decades to come. In reality, while a Chapter 7 bankruptcy will impact your credit score, there are steps you can take to rebuild your credit soon after bankruptcy.
Read more . . .

Thursday, December 19, 2019

Can You File Bankruptcy on Medical Bills in Ohio?

Medical care in the U.S. is extremely expensive. In order to go through necessary treatments for injuries, cancer, and other health problems, many are burdened with medical bills they are unable to pay back. All too quickly the medical bills will be sent to a third-party collection agency and that is when the phone calls begin.
Read more . . .

Monday, December 16, 2019

What Assets Are Exempt in Bankruptcy?

Filing for bankruptcy does not mean you will lose all of your possessions to your creditors. Exempt property cannot be repossessed or liquidated by your creditors to fulfill outstanding debt obligations. Bankruptcy exemptions allow you to shield certain property from your creditors. With Read more . . .

Friday, November 29, 2019

Can Those Self-Employed File for Bankruptcy?

Sometimes, when you are faced with severe, financial stress, you may consider seeking protection from your creditors through the filing of bankruptcy. This may prove to be a difficult decision – especially when you are self-employed as a sole proprietor of a small business or if you work as an independent contractor.

The decision to file for bankruptcy is not one that is taken lightly. You have the option of filing for Read more . . .

Friday, November 8, 2019

How Bankruptcy Can Impact Your Personal Injury Case

In 2012 alone, 1,181,016 individuals and 40,075 businesses in the United States filed for bankruptcy. Bankruptcy serves to allow people to start over when they cannot remedy their situation. According to the Read more . . .

Thursday, October 10, 2019

Ohio Bankruptcy Exemptions

When we think about filing for bankruptcy, we imagine what it will be like to lose everything. But what many people don’t know is that you can actually protect certain property in an Ohio bankruptcy by utilizing the state’s bankruptcy exemption laws. In fact, certain property necessary to live and work, such as your home, retirement account, and personal items can be protected. 

Although some states give residents the choice between federal and state bankruptcy exemptions, in Ohio you must go by the state’s exemptions and possibly the federal non-bankruptcy exemptions (a short list of additional exemptions).

If the property is exempt, you are permitted to keep it both during and after bankruptcy; but if the property is non-exempt, you must sell it in order to pay your unsecured creditors.
Read more . . .

Monday, October 7, 2019

Just How Many Medical Bankruptcies Are Filed Each Year?

On the campaign trail, one of the central topics discussed among the Democratic Presidential hopefuls is that of medical bills. Several Democratic candidates promise to reform the current medical insurance system in an effort to ensure all Americans have access to the healthcare they need. Senator Bernie Sanders has sought to tie the issue of universal healthcare to that of bankruptcy, asserting a few times on the campaign trail that over 500,000 medical bankruptcies are filed each year.  It is a common notion that medical bills are a top cause of bankruptcy, but do the facts support this? Our Beavercreek, Ohio Chapter 7 bankruptcy lawyers examine the true instance of medical bankruptcies below.

The American Journal of Public Health Study

Senator Sanders’ statistic of 500,000 medical bankruptcies per year is based on a study published by the American Journal of Public Health.
Read more . . .

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Bankruptcy Law News
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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