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Monday, July 17, 2017

The Bankruptcy Means Test Explained


Am I eligible to file for Chapter 7 bankruptcy?

Bankruptcy can offer tremendous financial relief to some individuals who find themselves burdened by debt.  In order to be eligible to file for bankruptcy, you must meet a stringent means test to determine whether your income is low enough to qualify for Chapter 7.  While most potential filers have heard of the means test, few are familiar with its specific requirements.
Read more . . .


Tuesday, July 11, 2017

Eliminating Your Deficiency Judgment Through Bankruptcy


Can bankruptcy help me to eliminate a deficiency judgment after foreclosure?

Losing your home or vehicle to foreclosure or repossession can be devastating, and being stuck with a deficiency judgment makes it all the more difficult.  Anyone who finds themselves unable to make payments on their home or vehicle could face seizure of your property by the bank or loan holder.  If the bank cannot sell your home or car for the amount you owe, you could be liable for the remaining balance, known as a deficiency judgment.  The good news is that you may be able to eliminate your deficiency judgment through Read more . . .


Wednesday, June 14, 2017

Discharging Your Gambling Debts in Bankruptcy


Can I eliminate my debts in a Chapter 7 bankruptcy?

Gambling debts are easy to accrue.  Perhaps you like to play poker or craps, or you may enjoy betting on horses.  No matter your gambling preference, you likely understand that sometimes you win, and sometimes you lose.  Often, in an attempt to get back on top, you will end up borrowing significant sums to keep on gambling.  When you cannot repay these debts, you may find yourself facing collection calls, repossession of your car, or even foreclosure of your home.
Read more . . .


Sunday, June 11, 2017

What You Need to Know About the Pre-Bankruptcy Credit Counseling Requirement


What kind of credit counseling will I need to complete before filing for bankruptcy?

If you are burdened by oppressive debt, bankruptcy may be the tool you need to start a fresh financial life.  In most cases, Chapter 7 filers will need to complete credit counseling within 180 days before filing for bankruptcy.  You will also need to complete an educational course on debt management before your debts can be discharged in Chapter 7 bankruptcy.  Our Read more . . .


Thursday, May 11, 2017

Married Bankruptcy Filers: Should You File Jointly or Individually?


If I am married, is it better to file individually or jointly in Ohio?

Married couples in Ohio have an important decision to make when it comes to filing for Chapter 7 bankruptcy.  Filers can elect to file either jointly or individually, and this decision can impact the family’s finances.  Whether you should file a joint or single petition will depend on several factors, including the types of property you hold, the amount and nature of your debt, and whether your property is separate or community property.  Our Read more . . .


Sunday, May 7, 2017

Drowning in Debt? Take a Look at Three Reasons Why Bankruptcy Could Save You


How might filing for bankruptcy help me to escape from debt?

If you are one of the nearly 800,000 Americans burdened by considerable debt, bankruptcy may offer you the escape you need.  Each year, hundreds of thousands of Americans make the decision to file for Chapter 7 bankruptcy in order to free themselves from debt.  Often, the choice to file comes when an individual can no longer handle the harassing phone calls or cannot continue to cope with the struggle to pay outstanding bills.  Our Ohio Chapter 7 bankruptcy lawyers explore how bankruptcy might save you from debt and stress below.

  1. Reason #1:  The Automatic Stay

    One of the ways in which filing for bankruptcy may instantly help you financially is the automatic stay.
    Read more . . .


Tuesday, April 18, 2017

Debts That Cannot be Discharged in Chapter 7 Bankruptcy


What debts will not be discharged if I declare bankruptcy?

Chapter 7 bankruptcy can offer much needed relief from overwhelming and crushing debt for many Americans.  While declaring Chapter 7 bankruptcy could erase a tremendous amount of debt, there are certain debts that will not be discharged even after bankruptcy.  It is important that you have a full understanding of what Chapter 7 bankruptcy can and cannot do to reduce your debt.  Our Read more . . .


Saturday, April 15, 2017

Your Top Bankruptcy Questions Answered


Is Chapter 7 bankruptcy right for me?

If you are considering filing for bankruptcy, you likely have many questions.  Electing to file for Chapter 7 or Chapter 13 bankruptcy is a big decision that could considerably impact your life.  It is important that you have all the facts so that you do not fall prey to the host of misconceptions that exist surrounding bankruptcy.  We answer some of your most frequently asked questions about bankruptcy below.  Take a look at our list of Read more . . .


Wednesday, March 15, 2017

Understanding the Bankruptcy Means Test


Do I qualify to file for Chapter 7 bankruptcy?

Chapter 7 bankruptcy can provide a lifeline for Americans struggling with overwhelming debt. However, in order to seek some of the relief that a Chapter 7 bankruptcy can offer, you must meet a stringent “means test.”  The means test is designed to identify which bankruptcy filers are truly unable to repay their debts.  Anyone considering the possibility of filing for Chapter 7 should consult with an Read more . . .


Saturday, March 11, 2017

Bankruptcy Exemptions in Ohio


What property can I keep in a Chapter 7 bankruptcy?

Millions of Americans will elect to pursue a Chapter 7 bankruptcy in the coming year in order to free themselves from crushing debt.  The good news for potential Chapter 7 filers is that some or all of your property may be protected from liquidation during bankruptcy under Ohio’s exemption laws.    Exemptions allow you to shield certain property from your creditors, such as your personal home and car.  Our Read more . . .


Thursday, February 16, 2017

Halting Foreclosure Through Bankruptcy


Can filing for Chapter 13 bankruptcy help me to save my home from foreclosure?

Receiving notice of an impending foreclosure is one of the most frightening things a homeowner can experience.  For most families, your home is one of your greatest assets, as well as a beloved sanctuary.  Losing your home would be devastating.  If loan modification has failed and a short sale is not the answer, you may find relief in a


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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