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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 . . .


Sunday, February 12, 2017

Eliminate Your Second Mortgage in Chapter 13 Bankruptcy

Can Chapter 13 bankruptcy help me to get rid of my second mortgage?

Ohio home prices have risen significantly since the housing crisis, but remain lower in most areas than the peaks reached in 2006 and 2007.  The Ohio foreclosure rate is above the national average, with many homeowners underwater or struggling to maintain their mortgage payments.  For the tens of thousands of individuals in Ohio trapped in upside down mortgages, Chapter 13 bankruptcy may offer relief.


Read more . . .


Tuesday, January 31, 2017

You Can Rebuild Your Credit After Bankruptcy


What steps can I take to rebuild my credit after a Chapter 7 bankruptcy?

If you are considering filing for Chapter 7 bankruptcy, but concerned about your credit score, we have good news for you—by taking some simple steps, you can start rebuilding your credit immediately after declaring bankruptcy.  You can rapidly return your credit score to its pre-bankruptcy level, and build even stronger credit than before.  Chances are, if you are researching bankruptcy, your credit score may already be suffering.  Late bill payments, non-payments, and foreclosures or repossessions can have a significant impact on your credit score.  While declaring bankruptcy will further damage your score in the short-term, it may the tool you need to eliminate your debt and begin building strong credit.
Read more . . .


Saturday, January 28, 2017

How can I improve my credit score after bankruptcy?


One of the biggest concerns we here from people when they are considering filing for bankruptcy is whether they will ever be able to borrow money again. For a lot of people considering bankruptcy, they’ve worked hard to build a great credit score and are reluctant to let that go despite their struggle to keep their heads above water. While it is definitely something to think about beforehand, just because you file for bankruptcy does not mean that you can never borrow money again. It is absolutely possible to rebuild your credit after filing for bankruptcy.


Read more . . .


Friday, December 30, 2016

Lima, Ohio Ranks Among Best in State in Managing Debt


Could declaring Chapter 7 bankruptcy improve my financial situation?

A recent report by SmartAsset, a financial technology company, ranks residents in Lima, Ohio among the savviest at handling debt.  In creating its rankings, SmartAsset considered credit scores, average personal loan debt, mortgage foreclosure rates, and credit utilization among residents in various cities across the country.  This interesting study provides a unique look at the financial state of individuals across Ohio and could serve as an incentive for those who are struggling financially to develop a positive solution to their financial woes. 

Lima ranked second for most debt savvy in Ohio and 126th nationally.  Cincinnati came in first in the state, while Toledo came in third, followed by Columbus, Cleveland, and Dayton.
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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