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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 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 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 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 & 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!

Bankruptcy Chapter 7 v. Chapter 13

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 26 years.

Lets be realistic here, everyone knows when they are getting in over their heads financially, things are just going wrong, out of your control, so many factors could play into this situation and you untitledknow you have to do something to fix it, but most will just wait, keep their eyes closed and hope that nothing bad happens.  The creditors keep calling and the mail box is full of too many bills, you may hope that they will just away and forget that they they are owed money, unfortunately, this is never going to happen.  Creditors will relentlessly try to collect from you and every time they sell your loan the statute of limitations will begin again, debts do not go away on their own.

You need to follow the boy scout motto and “be prepared” if you know you owe debts and you have fallen behind or cannot make your payments there are steps you should be taking to protect yourself.  There is nothing worse than reacting to a financial crisis after it has occurred, such as a wage garnishment or bank levy.

You are able to obtain copies of your credit reports annually for free, you should do this.  Even old accounts could lead to lawsuit, as previously stated debts do not just go away on their own.  On your credit report be sure to check the public record section, this will show you if there have been any lawsuits filed against you.  Is your current employer listed on your credit report?  Collection agencies and creditors will do their best to search for this information and your credit report will be the first place they will look.

You do want to keep your bank accounts at a minimum if you have outstanding debts out there.  Today creditors can more easily levy bank accounts and no longer have to levy the branch where you opened your account.  They simply have to provide the corporate office with the judicial order authorizing the bank levy.  Once they levy your bank account most likely you will not be able to get these fund back even if you file for bankruptcy.

If there has been a law  suit you can contact the creditor and make a payment arrangement with them to possibly avoid wage garnishment or a bank levy.

But really what you most likely need to do is file for bankruptcy protection.  At our office we will offer you a free consultation and payment plan.  Once you retain this office you may refer your creditors to us and we will work with them until your case is filed.  Just retaining the office though, does not stop any current wage garnishments or bank levies.  You will need to pay your fees in full and file your case right away to stop these procedure.

Be prepared, don’t just sit back and let the creditors take control of your financial destiny.  Take control of your own finances, bankruptcy is not the end of the world, usually things will look up after bankruptcy.  Many feel it is rock bottom, but this is not true, it will give you a fresh financial start, a re-do.

MORE INFORMATION

For more information check out our website at Keegan .