Chapter 7

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 . . .

Friday, August 9, 2019

Protecting Your House During Bankruptcy

Will I Lose My Home If I File for Chapter 7 Bankruptcy?

For most of us, our home is one of our most treasured assets. In addition to being of monetary value, your home is your castle. It is the place you make your memories, rest your head, and store your most important items. If you are considering filing for bankruptcy, one of your first concerns may be what will happen to your home. In a Chapter 7 bankruptcy, there are several factors that will influence whether you get to keep your home.
Read more . . .

Monday, July 15, 2019

Student Loan Debt May Become Easier to Erase in Bankruptcy

Can I eliminate my student loan debt by filing for Chapter 7 bankruptcy?

Students today emerge from school more burdened by loan debt than ever before.  The most recent statistics released by LendingTree reveal that nearly 70 percent of all college students have student loans, averaging close to $33,000.  Americans currently owe more than $1.56 trillion in student debt and 25 percent of the 44.7 million borrowers are in default on their loans.
Read more . . .

Thursday, June 27, 2019

Examining the Income Limits for Chapter 7 Bankruptcy

Can I still file for Chapter 7 if I make over the income limit?

If you are struggling with oppressive debt, it may be time to consider filing for bankruptcy.  Bankruptcy can offer a means for those burdened by debt to erase their debt or reorganize it so that they can start living and enjoying life again.  Those considering filing for bankruptcy will first need to consider which type of bankruptcy they qualify for and what will best suit their needs.  For individuals, Read more . . .

Thursday, April 25, 2019

I’ve Filed Chapter 7 Bankruptcy: Can My Lender Repossess My Car?

You realize that you are in bad financial “shape,” so you decide to file for Chapter 7 Bankruptcy. So on top of everything can your car loan lender repossess your car or try to collect debt? It depends.

Debtors Protected by Automatic Stay

When you file for Chapter 7 bankruptcy, an order is automatically created, known as an automatic stay. An automatic stay means that it is unlawful for most creditors to continue to collect from you – or even call you. This means that your car loan lender will not be able to collect any debt from you and is unable to repossess your car without first receiving permission from the court.

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

Read more . . .

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 . . .

Friday, August 3, 2018

Tax Debt and Your Options

Can I eliminate my tax debts in a Chapter 7 bankruptcy?

Owing money to the IRS can be frightening. Tax debt is perhaps one of the most feared debt by consumers, but the good news is that you do have options when it comes to resolving tax debts. Tax debt includes any taxes owed to the IRS after the filing deadline has passed. Unpaid taxes may subject you to substantial penalties. Additionally, the IRS has far reaching power to collect on unpaid taxes, including wage garnishment and seizure of assets.

Read more . . .

Monday, July 23, 2018

Discovery Tours Bankruptcy Details Delayed Until Fall

Discovery Tours, a school tours company that filed for bankruptcy, had its hearing delayed until September 20, with the goal of providing court officials with more time to look through company records, including bank statements, credit card statements, PayPal accounts, and cash flow to and from the tour company to hotels, bus companies, and the owners of Discovery Tours.

Closure of Company, Limited Assets

The company, based out of Mayfield Village, Ohio has been in the business of educational tours for schools (to New York City, Chicago, the Henry Ford Museum outside of Detroit, Michigan, and Washington D.C.

Read more . . .

Tuesday, July 10, 2018

Don’t Delay in Filing for Bankruptcy

How might waiting to file for bankruptcy hurt my finances further?

Filing for bankruptcy is a big step, and often one that people avoid. While it may seem natural to put off filing for bankruptcy as long as possible, a new report from the Notre Dame Law Review reveals that waiting to file for bankruptcy can cost you. The report finds that the longer you avoid bankruptcy, when you are financially struggling, the greater your debt load will be. Our Read more . . .

Thursday, June 7, 2018

Is Filing for Personal Bankruptcy Public?

Are bankruptcies published in the newspaper?

One of the greatest concerns of many would be bankruptcy filers is that the bankruptcy will become public information. Few of us want the world to know of our financial troubles. While you may have heard that bankruptcies are public information, you may be surprised to know that finding information as to your bankruptcy is quite difficult for the general public. Our

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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