Tag Archives: Eastgate Ohio Bankruptcy Lawyer

We are bankruptcy attorneys located in Eastgate, Ohio.  Our main focus of practice for over 26 years has been in Chapter 7 and Chapter 13 bankruptcy filings.

For most once they decide to file bankruptcy the decision comes down to which Chapter they will be filing.  Both chapters are beneficial in their own way.  Many factors play into which chapter you will file.  Your income and assets are the main considerations.  Many prefer to qualify for Chapter 7 but may not qualify.

BANKRUPTCY TIMELINE

In Ohio a typical Chapter 7 bankruptcy lasts about six months from the day you file until you receive your discharge.  Your actual court date which is call a 341 Meeting of Creditors will be four to six weeks out from your filing date.  For Chapter 13 you will also have a 341 Meeting of Creditors about four to six weeks after your filing date.  Once you file for Chapter 13 expect to be in the case for a period of three to five years as this time period is mandated by federal law.  Once your complete your Chapter 13 you will receive your discharge.

PAY BACK OF DEBTS

In bankruptcy different debts are classified in basically two groups.  Your unsecured debts (credit cards, medical debts, loans) and your secured debts (houses, cars, anything secured by collateral). There is also a sub-category of unsecured loans which are called priority debts, debt-troublesstudent loans and tax debts fall into this category.  If you file for Chapter 7 you will be able to discharge all of your unsecured debts and not have to pay anything back.  Most unsecured debts can be discharged, student loans and most taxes will survive the case.  Any secure debts that you would want to keep (such as your home or vehicle) you would continue to make your payments on and sign a reaffirmation agreement within the case. Chapter 13 is a re-payment plan.  Under this re-payment plan you will pay all of your debts with a single payment to the Chapter 13 Trustee once a month.  Out of this payment the trustee may make your regular house payment.  If you have any back payments on your home they would also make this payment for you.  If there is a vehicle payment involved this will also be made by the trustee. You will pay back a percentage of your unsecured debts.  This percentage is based on several factors and can range from 1 percent to 100 percent.  The debts will be paid in order of priority.  So basically in a Chapter 13 you have one payment a month to the Chapter 13 office and your utilities to pay during the duration of the case.

ASSETS

One big benefit of Chapter 13 is you will not have to worry about losing any of your assets in the case.  You keep all of your assets that you wish to keep.  In a Chapter 7 which is also referred to as a liquidation bankruptcy as the trustee may take some of your assets and liquidate them to gain funds to pay your creditors.  Most people do not have to worry about this though because in Ohio the exemptions are very high and most assets can be protected.

As to your home if you want to qualify for a Chapter 7 you must be current on your mortgage payment to keep your home.  If you file Chapter 7 and are not current on your home the lien holder will require that you get current or they may file for Relief from Stay which once granted they can begin the process of foreclosure.  However, if you are current on your home Chapter 7 is no problem, just continue to make your payments and you may reaffirm the debt in the case is you wish.

Chapter 13 is designed to help you save your home if you are behind on your payments.  Under Chapter 13 you will have the three to five year period to make up your missed payments through the case.  The trustee will also make your regular house payment and at the end of the case the trustee will certify that all payments are current.

MORE INFORMATION

For more information check out our website at www.keegancolpa.com.

Call today for your free consultation to find out which bankruptcy chapter is best for you.

 

BANKRUPTCY

We are bankruptcy attorneys located in Eastgate, Ohio.  Our main focus of practice has been bankruptcy for over 27 years.

ARE YOU THINKING OF FILING FOR BANKRUPTCY

Are you thinking of filing for bankruptcy.  Looking for an attorney to represent you through the process?  Calling around to get a fee?  Looking for the lowest fee around?  Just remember that you get what you pay for.  Bankruptcy is a very specific process and must be done correctly so Fesenmyer Law Offices, LLC_that your case will go through and you will receive your discharge through your case.  You do not want any snags and want everything to go through smoothly.  It is stressful enough when everything goes just right let alone when things are messed up.  Some believe that bankruptcy is simple, so simple that they can even take care of it themselves.  This may have been the case in the past but since the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) of 2005 things are much more difficult and more precise.  It is not recommended that you attack this task on your own.

Trying to file for yourself will most likely cause you more headaches than you would like to endure.  So the decision to seek an attorney to help you through the process is the best one.  You will want to find an experienced attorney who specialized in bankruptcy.

OUR LAW OFFICE

At the Keegan & Co. Attorneys, LLC our main focus of practice is bankruptcy, this is our main focus of practice.  Our office has specialized in bankruptcy for over 27 years.  We can provide you with the expertise that will make your bankruptcy seem simple and before you know you will be on with your debt free life.

FREE CONSULTATION

At our office we will offer you a free consultation where you will be able to sit down and discuss 25604196-a-person-drawing-and-pointing-at-a-bankruptcy-consulting-chalk-illustrationyour individual situation.  They will be able to advise you as to the best road for you to take on your financial journey.  Sometimes bankruptcy is the answer, sometimes it may not be the best decision.  The attorney will advise what is best for you.

At this free consultation the attorney will quote you a fee.  If you decide you want to move forward a small retainer will retain this office.  Once you have retained our office you will quit paying on bills you do not want to keep and refer your creditors to our office until your case is filed.  We will accept monthly payments until your case is filed.

MORE INFORMATION

For more information check out or website at www.keegancolpa.com call 513-752-3900 for your free consultation today!

At our Eastgate, Ohio bankruptcy office we will be able to help you get out of debt and get a fresh financial start!

BANKRUPTCY BEFORE OR AFTER DIVORCE

We are attorneys located in Eastgate, Ohio.  Bankruptcy has been the main focus of our practice for over 28 years.

If you are considering bankruptcy you should contact our office for your free consultation.  At this consultation you will be able to sit down with one of our attorneys and discuss your individual situation.

Your spouse does not have to file bankruptcy.  You can always file bankruptcy without your spouse, but whether they should file depends on the circumstances. Here are some of the most common situations that may make you question whether or not to file with your spouse.

All (or Most) Debts are in One Spouse’s Name

This happens often either in a relatively new marriage, or one in which one of the spouses had free_4616491operated a failing business. The person with little or no debt doesn’t want to participate in filing bankruptcy if it’s not necessary to do so. And often the person with the debt, out of guilt or sometimes more noble motives, wants to avoid harming the other person any further by dragging him or her into a bankruptcy case.

In a newer marriage, the couple may come to realize that the debts of one of them are now hurting their joint financial lives. Possibly the financial stress is jeopardizing the marriage itself. That is especially true if the person with the debts either was not candid about the amount of debts he or she was bringing into the marriage, or has continued to use credit within the marriage without the full knowledge of the other spouse.

Whatever the context, determining whether to file bankruptcy for just one spouse requires a thorough analysis to find out who is liable on each of the debts.  If there is joint liability, the creditor can go after the non-filing spouse for the full amount.  And even if the non-filing spouse does not think he or she is legally liable on some debts, you have to double check before they opt out of being included in the bankruptcy filing.

It is often more difficult than you’d think to know for sure whether one spouse is or is not liable on a debt.  Being an authorized user sometimes creates liability, and sometimes doesn’t. You can discuss this at your free consultation.

Preserving the Other Spouse’s Credit Record

A common reason given for one spouse not wanting to file is to protect his or her credit record. creditThat’s a sensible enough goal. And not only for the non-filing spouse. If it works the couple itself could benefit through the non-filing spouse’s subsequent access to credit on behalf of their household. That non-filing spouse may even be able to help the filing spouse re-establish his or her good credit through co-signing of new debts and such.  Many times when one spouse has a small amount of debt, we suggest leaving them out of the bankruptcy.

But be careful with assumptions about being able to keep the other’s bankruptcy filing completely out of the non-filer’s credit record. This is especially if you have a joint debt or two, including ones that you intend to continue to pay and keep “outside the bankruptcy” case, such as a home mortgage or vehicle loan. Although credit reporting agencies are not supposed to refer to a co-debtor’s bankruptcy filing in the non-filer’s credit reports, don’t simply assume that will happen appropriately.

So it’s all the more important for the non-filing spouse to review his or her credit report before the other spouse’s bankruptcy is filed and then very regularly thereafter to make sure there’s no reference, directly or indirectly, to the bankruptcy case.

THINKING OF DIVORCE

Bankruptcy can be good financial planning when anticipating divorce.  If it’s clear, both that you couple-fighting-20131087will be getting divorced, and that you need the financial relief of a bankruptcy, which should come first—and if the bankruptcy is first, should you file with your spouse or by yourself?  Most of the time it is a good idea to file together if you can stomach it.  You save on filing and attorney fees, and you have less to argue about (so you spend less on legal fees) in the divorce.  But, this isn’t always true.

The overly simplified answer for the purpose of this already long blog post is as follows:

  • Do not file a joint Chapter 7 “straight bankruptcy” case with your spouse in anticipation of a divorce without BOTH of you getting independent legal advice from separate attorneys about whether doing so would truly be in each of your self-interests.
  • Be prepared for the possibility that it would not be in one or the other of your self-interests to file jointly, or to file ahead of the divorce, with the result that you would not be filing a joint Chapter 7 case.
  • In virtually NO circumstances would it make sense to file a joint Chapter 13 case in contemplation of a divorce—they take three to five years to complete, and at the time of your divorce would have to turn that case into two separate Chapter 13 cases, or into two Chapter 7 ones, or one of each, usually causing enough of an administrative headache and cost to make filing a joint Chapter 13 case a bad idea.*But even there the other spouse may become liable in various ways. As for debts incurred during the marriage, under many state’s laws the spouse who did not sign the debt papers or did not otherwise participate in the purchase or transaction can still be liable for the debt. And beyond that, in community property states joint liability is even more easily created.

MORE INFORMATION

For more information check out our website at www.keegancolpa.com.

Contact your Eastgate, Ohio bankruptcy attorney today for your free consultation 513-752-3900.

Choosing your bankruptcy attorneys is as important as the decision to file

We are bankruptcy attorneys located in Eastgate, Ohio.  Our main focus of practice has been bankruptcy for over 27 years.

ARE YOU THINKING OF FILING FOR BANKRUPTCY

Are you thinking of filing for bankruptcy.  Looking for an attorney to represent you through the process?  Calling around to get a fee?  Looking for the lowest fee around?  Just remember that you get what you pay for.  Bankruptcy is a very specific process and must be done correctly so Fesenmyer Law Offices, LLC_that your case will go through and you will receive your discharge through your case.  You do not want any snags and want everything to go through smoothly.  It is stressful enough when everything goes just right let alone when things are messed up.  Some believe that bankruptcy is simple, so simple that they can even take care of it themselves.  This may have been the case in the past but since the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) of 2005 things are much more difficult and more precise.  It is not recommended that you attack this task on your own.

Trying to file for yourself will most likely cause you more headaches than you would like to endure.  So the decision to seek an attorney to help you through the process is the best one.  You will want to find an experienced attorney who specialized in bankruptcy.

OUR LAW OFFICE

At the Keegan & Co. Attorneys, LLC our main focus of practice is bankruptcy, this is our main focus of practice.  Our office has specialized in bankruptcy for over 27 years.  We can provide you with the expertise that will make your bankruptcy seem simple and before you know you will be on with your debt free life.

FREE CONSULTATION

At our office we will offer you a free consultation where you will be able to sit down and discuss 25604196-a-person-drawing-and-pointing-at-a-bankruptcy-consulting-chalk-illustrationyour individual situation.  They will be able to advise you as to the best road for you to take on your financial journey.  Sometimes bankruptcy is the answer, sometimes it may not be the best decision.  The attorney will advise what is best for you.

At this free consultation the attorney will quote you a fee.  If you decide you want to move forward a small retainer will retain this office.  Once you have retained our office you will quit paying on bills you do not want to keep and refer your creditors to our office until your case is filed.  We will accept monthly payments until your case is filed.

MORE INFORMATION

For more information check out or website at www.keegancolpa.com or call 513-752-3900 for your free consultation today!

At our Eastgate, Ohio bankruptcy office we will be able to help you get out of debt and get a fresh financial start!

BANKRUPTCY

We are bankruptcy attorneys located in Eastgate, Ohio.  Our main focus of practice for over 27 years has been bankruptcy.

We all go through tough times.  There are many factors that can cause us to struggle financially.  You could have lost a good paying job and had to take a new job making less money.  You could have had a medical emergency in which you incurred medical debt.  Maybe you have recently divorced.  There are so many factors which can cause hardship in our lives and throw us off balance as far as paying our debts go.  Robbing from Peter to pay Paul at the end of the month, sometimes it just does not work because Peter is broke too.  If this describes you in any way then bankruptcy may help you get a fresh financial start and break out of the prison of debt.

WHAT IS BANKRUPTCY

Bankruptcy is a federal code which will allow you to discharge your unsecured debts and get a fresh financial start.  Under the bankruptcy code once you file all collection efforts against you must stop.  This includes phone calls, court proceedings and garnishments.  Yes, you can stop a garnishment even if it has already begun once your file under the bankruptcy code.  Bankruptcy is designed to help people get out of debt, it is not a bad thing and if you file it does not mean that you are a bad person, just a person in a bad financial situation.

WHAT IS THE BANKRUPTCY PROCESS?

At our office we will offer you a free consultation.  At this free consultation you will be able to sit down with one of our attorneys and discuss your individual situation.  The attorney would then pilldetermine which chapter you would qualify for and guide as to the next step.  If you decide to move forward a small retainer fee will get the process started and we will then accept payments until you have paid in full and then your case will be filed.  Once you decide to file and retain our office you should stop paying on bills that you do not want to keep and start referring your creditors to our office.  You would then submit all of your documentation so that your case can be prepared and once paid in full you would sign your documents and your case will be filed.  Your court date will be approximately four weeks after you file.  There are two credit counseling sessions which you will need to complete, one before filing and one after.  You would then receive your bankruptcy discharge and get your fresh financial start.  Creditors will no longer be able to collect on any debts which you included in your bankruptcy filing.

MORE INFORMATION

For more information check out our website at http://keegancolpa.com/.

Call your Eastgate, Ohio bankruptcy attorney today to see if bankruptcy is the right step for your fresh financial start!