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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.
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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


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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


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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
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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 . . .


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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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