Keegan & Co Attorneys, LLC – Our Services
Chapter 13 Bankruptcy
Chapter 13 Bankruptcy is also known as a Debt Consolidation Plan. A Chapter 13 Bankruptcy Case allows you to stop a foreclosure on your home. Further, we can stop a repossession of your car.
Filing a Chapter 13 Bankruptcy can allow you to catch up on your mortgage or vehicle back payments. Keegan and Co. Attorneys can force unsecured creditors to stop interest charges. In most cases, you will only pay back a percentage of your debt.
Chapter 13 Bankruptcy can be filed to stop a Foreclosure and Sheriff’s sale of your home. With a Chapter 13 case, our Attorneys can force your mortgage holder to allow you to catch up your mortgage arrearage over a number of years. This is done by Order of the Court and your mortgage company cannot refuse to accept these catch up payments. We can stop a foreclosure right up until the morning of the Sheriff’s sale.
Chapter 7 Bankruptcy
A Chapter 7 Bankruptcy gives you a fresh start by eliminating unsecured debt. Additionally, Chapter 7 Bankruptcy stops wage garnishments, harassing phone calls and letters from collectors. Chapter 7 stops all collection activity against you. Generally, you may keep your house and automobiles while filing a Chapter 7/Straight Bankruptcy.
Chapter 7 Bankruptcy gives you fresh start. Chapter 7 will wipe out all debt except child-support, student loans and some tax debt. Depending on the circumstances, some tax debt may be discharged. Secured debt such as debt on houses and cars can be discharged as well, although the creditor will eventually receive it’s collateral back in complete satisfaction of the debt. Credit card debt, medical bills, unsecured loans, etc. are all wiped out. Every individual’s facts and circumstances are different, but we will analyze your situation with a free consultation and advise you accordingly.
Debt Consolidation
Debt consolidation is also known as Chapter 13 Bankruptcy. In addition to stopping a foreclosure of your home or repossession of your car, a Chapter 13 will also allow you to pay back your unsecured creditors just a percentage of what is owed. Many of our clients pay back as little as 1% of their total debt. All interest charges on your unsecured debt will stop as of the date of the filing. Unlike a voluntary “debt consolidation” through a debt consolidation company, Chapter 13 is court ordered and all your creditors must abide by the plan.
The vast majority of “debt consolidations” made through consolidation companies fail because they are voluntary. Typically under these agreements interest charges continue to accrue and are added to your debt. Furthermore, many creditors refuse to participate in agreements made through debt consolidation companies.
When you file a Chapter 13 through our office your case plan will become a court order. If your creditor refuses to participate, they do not get paid and their debt will be discharged upon completion of your case.
Stopping Creditor Harassment
Are you overwhelmed by creditor calls? We can help you get relief! Stopping creditor harassment becomes immediate upon filing Chapter 7 or Chapter 13 Bankruptcy. Creditors are ordered by the court to cease all collection activities against you. This includes: garnishments, repossessions, foreclosures, lawsuits, collection letters, and collection phone calls. Any creditor who persists after receiving the court order to stop all collection efforts may be held in contempt of court. 99% of creditors realize this and cease their collection efforts immediately once you file. Additionally, if a creditor seizes any of your assets in violation of the court’s order, our attorneys will work to get your asset returned to you.
Stopping Wage Garnishments
Stopping a wage garnishment is a vital way we can help to prevent your debt problem from spiraling further out-of-control.
Once your wages have been attached it is important to act quickly. Otherwise, your creditor will continue to take 25% of your wages until their debt is completely satisfied. Filing bankruptcy will immediately stop wage garnishments. Moreover, any funds taken after your case is filed must be returned to you by your creditor.
Stopping Mortgage Foreclosures
Stopping mortgage foreclosures is one of the most powerful aspects of the bankruptcy code. Chapter 13 is a solution for you if you would like to keep your house and you can afford to catch up back payments over several years while keeping your normal payments current.
In Chapter 13 our attorneys can free up enough money for you to both stay current and cure your mortgage arrearage. This is because your unsecured creditors are paid back at no interest and at a lesser percentage of what is owed.
Your mortgage company does not have to agree. The court orders that your mortgage company accept arrearage payments over time. If you stay current with your payments going forward and make your Chapter 13 plan payments, the bank must stop the foreclosure permanently.
If you cannot afford, or do not want to keep your home, a Chapter 7 Bankruptcy will stop a foreclosure. In this case, you will have an extended period to seek other housing and get your financial life in order. Our clients usually have many months before being forced out of their home.
Keegan & Co Attorneys can stop a foreclosure right up to the morning of the sheriff’s sale. If you are facing foreclosure don’t delay. Call our office at 513-752-3900 to schedule your free consultation.
Credit Restoration
The goal of many of your clients is credit restoration. In most cases, a bankruptcy filing is the first step toward better credit. At the end of your Bankruptcy your debts will be discharged and you will emerge form your case debt- free. Most creditors would rather loan to a person who is debt-free through bankruptcy then to those who have delinquent and outstanding debt.
In he majority of cases, your bankruptcy filing increases your credit score. For those thinking long term, it can be the best solution toward better credit. After your bankruptcy, you can rebuild your credit by making rent, utility and car payments on time. Secured credit cards are a great way to rebuild credit. We advise out clients to make small charges and make all credit card payments on time. If you establish an on time payment history over one to three years post bankruptcy you will be in a great position to obtain mortgage loans, car loans, and credit cards at normal interest rates.
Keep in mind you are limited to receiving a discharge through Chapter 7 bankruptcy once every eight years. So, we always advise our clients to be careful with credit going forward. Credit is a necessary and indispensable factor in modern life, you simply cannot do without it.
Ignoring credit delinquencies will impact your credit record indefinitely. So, if you are considering shopping for a home or car loan in the future, now may be the time to clean things up through a bankruptcy.
Stopping Bank Accounts Seizures
Stopping a creditor from seizing your bank account can be accomplished through a bankruptcy filing. A bankruptcy filing results in a court ordered “automatic stay” which stops foreclosure, garnishment, collection calls, auto repossessions, and bank account seizures . This automatic stay stops all collection efforts against you.
If credit issues are spiraling out-of-control for you, a bankruptcy filing will stop everything in its tracks. Once all seizures and collections are stopped, we will work with you on reorganizing and/or discharging your debt. Additionally, we will use pre-bankruptcy planning strategies for you and apply state and federal exemption laws to allow you to keep, usually all, of your property.
Stopping Automobile Repossession and Lease Returns, Creditor Lawsuits, Fair Debt Collections Practices Act Representation and Asset protection
Asset protection is a critical goal for anyone owning or operating a business. Proper structuring of ownership of your business and personal assets can protect these assets from subsequent lawsuits and creditors.
Ohio has a very strong Limited Liability Company (LLC) statute. Our Attorneys can plan and structure your business ownership and operating companies such that a downturn or loss from your business does not affect your personal assets. We can structure personal assets to make them more creditor proof , therefore, protecting these assets from potential future liability or claim.
It is wise to utilize the expertise of our Attorneys regarding initial set up or reorganization of your business ownership structure. If you operate your company as a sole proprietorship or general partnership, you are at risk for devastating personal loss from lawsuit or other creditor claim. Even if you are not now in financial trouble, now is the time to rethink and reorganize business and personal assets.
Pre-Bankruptcy Planning
Pre-Bankruptcy planning is a necessary step because it is our goal is to protect all, or as many of your assets as a possible. It is a crime to hide or fraudulently conceal assets, however, it is altogether proper to pre-plan your bankruptcy with an eye toward maximizing your exemptions as provided by law.
We will pre-plan your case to avoid the loss of your personal assets. This process may be complicated and take many months or it can be relatively quick and easy. Our office has strong knowledge and experience in exemption planning and avoiding fraudulent conveyances. We will work with you to legitimately structure your assets to maximize the benefit of filing bankruptcy and minimize the loss of your personal assets.
Often, clients consult with us who do not need to file bankruptcy. In this case, our client can benefit from pre-bankruptcy planning strategies to protect their assets in the event financial matters worsen and bankruptcy needs to be filed.