Bankruptcy

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 . . .

Last month, Westminster Financial Securities agreed to pay an arbitration settlement of $275,000. However, the firm is now attempting to rely on a unique legal strategy to renege on the award.

A Bizarre Tale of Misleading Advice

Sixty-eight year old, Mary Krevosh, was a client at Westminster for four years through June 2016. She and her attorney had reached a settlement agreement with Westminster as a conclusion to her original claim in regards to her experience working with one of its brokers, Louis Telerico, who had his license suspended for six months. She argues that he misled and took advantage of her on numerous occasions, including bizarre recommendations.

Read more . . .

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 . . .

When filing for Chapter 7 bankruptcy in Ohio, exemptions will allow you to protect some of your property from creditors. When filing for...

Read more . . .

You have likely heard the common statistic that half of all bankruptcies are caused by medical bills.  Given the high costs of healthcare, it is easy to believe that medical bills are a top cause of bankruptcy.  A new study, however, suggests that just a small fraction of bankruptcies are actually caused by medical debt.

Read more . . .

Although seeking bankruptcy protection can allow you to organize your finances and make a fresh start, you must adhere to the certain rules and procedures under the bankruptcy laws. By failing to do so, the case will be dismissed and creditors will be able to pursue legal claims against you. This is why it is crucial to have the advice and guidance of an adept bankruptcy attorney.
Read more . . .

Can I still file for bankruptcy if my income exceeds Ohio’s median income level?

Chapter 7 bankruptcy can be a powerful tool to erase your burdensome debt.  To file for Chapter 7 bankruptcy, you will need to qualify under the Chapter 7 “means test.” The two-part means test is a critical component to any bankruptcy filing.

Read more . . .

What should I bring with me to my bankruptcy consultation?

If you are considering filing for bankruptcy, one of the first steps you should take is meeting with a bankruptcy attorney in your area to find out whether bankruptcy is the best option for you.  Your initial consultation will allow you to meet your potential new bankruptcy lawyer and ask some of the many questions you may have.  It is important that you enter your initial consultation armed with some critical information and documents so that you can make the most out of the meeting.
Read more . . .

Can I file for Chapter 7 bankruptcy more than once?

Each year, over 800,000 people file for bankruptcy in federal court.  Bankruptcy serves as an important vehicle for consumers and businesses to be able to reduce or eliminate their debt so as to start anew financially.  At times, bankruptcy filers will find that they need to file for bankruptcy a second time.
Read more . . .

Will my medical debts be eliminated in Chapter 7 bankruptcy?

With ever rising healthcare costs, medical expenses have become a major cause of debt for many Americans. According to at least one study by NerdWallet Health, which analyzed data from the U.S. Census, Centers for Disease Control, and federal courts, health care is now the number one cause of bankruptcy filings.

Read more . . .

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.
Read more . . .