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Wednesday, November 22, 2017

From Bankruptcy to Millionaire


Can I find success after declaring bankruptcy?

You may be surprised to learn that some of the wealthiest, most successful people of our era have declared bankruptcy at some point in their lives.  Bankruptcy should never be viewed as failure; rather, it should be thought of as a means to a fresh financial start.  Our Beavercreek, Ohio Chapter 7 bankruptcy lawyers take a look at some famous individuals who went from bankruptcy to millionaires.
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Sunday, November 19, 2017

Considering Bankruptcy? Read This

What debts will be eliminated in bankruptcy?

Bankruptcy can be a lifeline for individuals who find themselves overwhelmed by debt. Last year, over 800,000 people filed for bankruptcy in federal courts across the country. If you are considering filing for bankruptcy, there are several factors you should consider.


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Tuesday, October 17, 2017

A Look at the Tax Consequences of Filing for Bankruptcy


How might bankruptcy affect my taxes?

If you are considering filing for bankruptcy, it is important to weigh all of the potential advantages and consequences of filing, including the tax implications.  Bankruptcy will impact every aspect of your finances, and could affect your tax returns and filings.  Our Xenia, Ohio Miami Valley Bankruptcy attorneys discuss what you should expect when it comes to your taxes during and after a divorce.
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Friday, October 6, 2017

Bankruptcy and Your Credit Score

How long will a bankruptcy remain on my credit report?

One of the main concerns of potential bankruptcy filers is the impact that bankruptcy may have on your credit score.  There are numerous misconceptions about bankruptcy and credit reports.  Some people falsely believe that declaring bankruptcy will destroy your credit score for years to come.  The truth is that bankruptcy will undoubtedly affect your credit score, but there are ways to rebuild your credit post-bankruptcy.


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Wednesday, September 27, 2017

Making a Budget and Sticking to It

How can I avoid incurring debt?

If you are working to eliminate your debt, creating a realistic budget and sticking to it will be essential.  Setting a budget can also help you to avoid debt in the first place.  Anyone who is overwhelmed by debt needs to get an accurate picture of their finances by mapping out regular expenses.  Once you have a complete look at your debt load and income, you can better assess whether you can eliminate your debt through budgeting or you need to consider the possibility of filing for Chapter 7...


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Friday, September 22, 2017

Managing Expenses During Your Chapter 13 Bankruptcy


Can I buy a car while in Chapter 13 repayment?

Chapter 13 bankruptcy can offer a way for Americans struggling with debt to obtain a fresh financial start.  In a Chapter 13 bankruptcy, you will commit to a repayment plan that will last between three and five years.  It will be imperative for you to develop a strict budget during repayment so that you can meet your financial obligations.  Even with the best of budgeting, however, unexpected needs will arise.  Those going through Chapter 13 may find themselves wondering whether they can purchase a new car, home, or other large item.
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Friday, August 11, 2017

Filing for Bankruptcy During Your Golden Years


What do I need to know if I am considering filing for bankruptcy while in retirement?

With the rocky American economy, an increasing number of seniors are reaching retirement age without enough savings to maintain a comfortable standard of living.  Burdened by debt and without a substantial income, seniors in Ohio and elsewhere across the nation may find themselves considering filing for bankruptcy.  Our Miami Valley bankruptcy lawyers discuss some facts you should know if you are a retiree who will potentially turn to bankruptcy.
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Monday, August 7, 2017

Bankruptcy vs Debt Settlement


Should I file for bankruptcy or try to settle my debts?

Most of us have debts.  The average American household today owes $6,662 in credit card debt, according to the Federal Reserve Report on the Economic Well-Being of U.S., and $106,132 in mortgage debt.  On top of these debts, many of us owe money on our cars and may have unpaid medical expenses.
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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.
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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 . . .


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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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