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Bankruptcy

We are bankruptcy attorneys located in Eastgate, Ohio.  Bankruptcy has been our main focus of practice 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 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 bankruptcy is our main focus of practice.  Our office has specialized in bankruptcy for over 28 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 your 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 https://keegancolpa.com/  or call 513-752-3900 for your free consultation today!

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

Chapter 13 Basics

We are bankruptcy attorneys located in Eastgate, Ohio.  Our main focus of practice has been Chapter 7 and Chapter 13bankruptcies for over 27 years.

In this blog, however, we will be focusing on Chapter 13.

WHAT IS CHAPTER 13 BANKRUPTCY

Chapter 13 is designed for people who are behind on their mortgage payments who would like to save their home or their income is too high to qualify for Chapter 7.  Chapter 13 involves paying your disposable income to creditors over a three to five year period.  During this time you will be able to make up any missed mortgage or vehicle payments.  Your unsecured creditors will be paid a percentage of what you owe them, once you complete your case and receive your discharge the remaining balance will be deemed discharged through the case.  This means that creditors will not be able to collect on these debts in any way or form.  They will not be allowed to contact you by phone, mail or any other means.

WHAT IS DISPOSABLE INCOME?

To determine your disposable income we will need to know your income for the last six months.  If you have had a pay cut or loss of overtime hours we can reduce your current income for these situations, same if you are making more money at the time we would have to increase 13683018-stacks-of-coins-resting-on-a-wallet-full-of-money-1your current income.  We would then need to subtract your expenses from your income.  This includes all of your expenses required to take care of your family such as food, rent or mortgage,vehicle payments, utilities and other such needs.  Then we consider things that you know you will be spending such as car repairs, home maintenance or medical expenses.  Then we need to look at things you may not be spending money on but it would be in your best interest to do so such as health insurance, life insurance or maybe a retirement savings account.  If you have expenses not mentioned that doesn’t mean we can’t count it as long as it is reasonable and necessary.  Once all of these expenses are counted they get deducted from your income and the remainder is an idea of your disposable income.

WE WILL BE THERE FOR YOU

It is not a good idea to try to file a Chapter 13 on your own at your court hearing the trustee will evaluate the reasonableness of your expenses and will try to cut them down so that there is extra money to pay your creditors.  Our job as your attorney is to protect the money that is necessary for you to take care of yourself and your family.  This is why we sit down with you and go over your unique situation and expenses with you thoroughly before the case is filed.

HOW MUCH WILL MY CHAPTER 13 PAYMENT BE?

Your Chapter 13 payments must be enough to cover certain required payments.  Your plan payment must be enough to pay for your mortgage arrears over the next five years, your current mortgage payment (as the 13 office would make your regular mortgage payment through the case), if you have a vehicle payment this will be included and a small amount for your unsecured creditors.

FREE CONSULATION

Every situation is unique.  We offer a free consultation where you will be able to sit down with one of our attorney and discuss your situation.  The attorney will be able to give you an approximate amount of what your Chapter 13 payment would be at this free consultation.  They would also quote you a fee.  If you decided to move forward a small retainer would get things started and then we would take payments, once paid your case will be filed.

For more information see our website at https://keegancolpa.com/.

Contact your Eastgate, Ohio bankruptcy attorney today for your free consultation.

Bankruptcy & Garnishments

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

Credit is no game and can become very serious very quickly if you fall behind on your payments.  Or even worse come where you cannot make a payment at all.  The phone will begin to ring early in the morning and not end till late at night.  The mail box will fill with new bills from collection agencies, attorneys and eventually from your local court.  Once a judgement is obtained against you a creditor will be able to garnish your wages.

In the state of Ohio a garnishment will be 25% or your pay before taxes have been taken out. That’s a pretty good chunk.

But don’t worry you can still file for bankruptcy and get this garnishment stopped!

BANKRUPTCY

Bankruptcy is a federal code designed to help people get a fresh financial start.  Under the code you can discharge all of your debts.  A discharge is documentation stating that your debts are free and clear, a creditor cannot come back on you and collect on these debts in any way or form.

This would include any current garnishments.  Once a bankruptcy is filed a garnishment must stopstop.  Any garnishments that would happen after a filing will be returned to you by the creditor.  The judgment will still remain on your credit report, but will show you owe no liability.  Bankruptcy does not change the past, just clean it up.

There are two main chapters filed by consumers.  Chapter 7 and Chapter 13.

Under Chapter 7 you will be able to discharge all of your unsecured debts.  All collection efforts against you must stop immediately.

Chapter 13 is a repayment plan.  Under this plan you will be in the case for three to five years.  All collection efforts must cease immediately upon filing.  Chapter 13 will stop a foreclosure or repossession of a vehicle and allow you to keep these secured items through the plan.  You will be able to make your missed payments over the three to five year time period.  At the end of your case you will receive a discharge.

MORE INFORMATION

Bankruptcy is complicated, don’t brave it alone.  Contact us today for a free consultation.  At this consultation you will be able to sit down with one of our attorneys and discuss your individual situation.

You can also check out our website at https://keegancolpa.com/.

Contact your Eastgate, Ohio bankruptcy attorney today to get a jump on your fresh financial start!

Is bankruptcy the answer?

We are bankruptcy attorneys located in Eastgate, Ohio.  We have been serving the community focusing on chapter 7 and chapter 13 bankruptcy filings for over 27 years.

WHAT IS BANKRUPTCY?

It is a legal procedure which will give debtors federal protection from creditors.  Under the federal code all of your debts will be discharged and give you a fresh financial start.

HOW CAN BANKRUPTCY HELP ME?

Filing bankruptcy could wipe out credit card debt and other unsecured debts. If filed, no creditor can legally collect of those debts.

Filing can stop creditor harassment, as in phone calls and harassing letters and could stop repossession of your car or foreclosure of your home. You could still retain your home even if a foreclosure has already been filed.

Medical debt is discharged through bankruptcy. Overall, health care is the main reason in the U.S. for filing for protection. Hospitals and ER services cannot refuse you service in the future, if you were to file.

You do NOT lose everything you own. Sometimes in a chapter 7, the trustee may take assets and sell them to pay on your debts, however, most consumers are usually happy to learn they will be able to keep most of their assets through the bankruptcy exemptions.

These are just some of the ways that a bankruptcy could help you.

WHICH BANKRUPTCY OPTION BEST FITS MY SITUATION?

The most common filings for bankruptcy are chapter 7 and chapter 13. Chapter 7 will wipe out all your unsecured debt (credit cards, medical debts, utilities, etc.). You can also keep your downloadhouse and vehicle in chapter 7, as long as your current on payments. Chapter 7 is a straight bankruptcy, referred to as a liquidation bankruptcy. This will stop all collection proceedings including phone calls, mailings, garnishments and court proceedings. As many as 65% of consumer bankruptcy filings in the U.S. are chapter 7.

Chapter 13 is a repayment plan. It is referred to as a wage earner. You must have a reliable source of income so that you can repay all or a portion of your debt. Chapter 13 will stop a foreclosure or repossession as well. It is designed to help you retain your home or vehicle if your behind. You will repay 1% to 100% of your debt, depending on your individual situation. This will last a minimum of three years and max of five years. During this time it will be up to the creditors to file claim in order to be paid during the case.

WHAT DEBTS WILL NOT BE DISCHARGED?

Most of your debts can be discharged. Some debts are not able to be discharged. There are certain debts which cannot be wiped out in a chapter 7 or at the end of a chapter 13. Some kinds of debt can never be discharged.

Student Loans – Most student loan debt is not dischargeable. In some situations a debtor can claim that student loan debt causes an extreme hardship and can obtain a discharge, but it is very difficult to persuade a Bankruptcy Court to discharge a student loan debt.

Taxes – Some income tax debt can be discharged in bankruptcy, but this varies, you should make an appointment for your free consultation to discuss your individual situation.

Alimony and Child Support – Back payments or arrearages for child support and for alimony are nondischargeable. Orders to pay attorney fees in child support and child custody cases are usually nondischargeable.

Fines and Penalties – Most fines that are imposed by a court and most penalties that are assessed by a government agency are nondischargeable.

WHAT HAPPENS AFTER BANKRUPTCY?

If you want to have credit, you will be surprised at the amount of credit offers you will receive downloadonce you file for. You can improve your credit after filing and being discharged. This gives people the opportunity to rebuild their credit because it eliminates the old debt. Continue making your payments on assets that you keep.  Try to make all of your payments on time with no slow pays and keep accounts out of collection.  Follow these rules and your credit will rebuild rapidly.

MORE INFORMATION

For more information check out our website at Keegan .