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Credit After Bankruptcy

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BUILDING CREDIT AFTER FILING FOR BANKRUPTCY

It will not be difficult to re-build your credit after a bankruptcy filing.  Any debt that you keep through a bankruptcy (such as a home or vehicle) will automatically report on your credit report and start to re-build your credit score.  The important thing is to pay all debts on time after bankruptcy.  You may even qualify to buy a home two years after bankruptcy with a clean credit report after filing.  After you file, you may be surprised at the amount of credit card offers you will receive after bankruptcy.  Some creditors know that you can’t file again for some time and are therefore willing to extend credit. Be careful with this!

We will walk you through the process and make it as easy as possible.  Our attorneys have a combined experience of over 55 years and the goal of our office is to make filing for bankruptcy protection as simple and stress free as possible. After bankruptcy, our clients are usually excited to create a new budget that includes saving for the future!

HOW TO GET STARTED

Call 513-752-3900 to set up your free consultation to sit down and discuss your unique situation with an experienced attorney.  Our attorneys will advise whether bankruptcy is your best option. Fees are quoted based on your individual case.

How Can Bankruptcy Help Me?

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WHAT IS BANKRUPTCY?

Bankruptcy is a legal procedure giving debtors federal protection from creditors.  Under the bankruptcy code you can protect certain assets, get relief from most debts and enjoy a fresh financial start!

HOW CAN BANKRUPTCY HELP YOU AND YOUR FAMILY?

Filing bankruptcy can wipe out credit card debt and other unsecured debts. Once filed, no creditor can collect on those debts.

Bankruptcy can stop creditor harassment.

Bankruptcy can stop repossession of your car and  foreclosure of your home. You may still keep your home even if a foreclosure has already been filed.

Medical debt is discharged through bankruptcy. Overall, medical bills are the main reason in the U.S. for bankruptcy. Hospitals and ER services cannot refuse you service in the future because of your bankruptcy.

 

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.). In most situations, you can keep your house and vehicle in Chapter 7, as long as your current on payments. Chapter 7 is a straight bankruptcy. Chapter 7 bankruptcy will stop all collection proceedings including phone calls, mailings, garnishments and court proceedings. Most bankruptcy filings in the U.S. are Chapter 7.

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

WHAT DEBTS WILL A BANKRUPTCY NOT ERASE?

Most of your debts can be discharged in a bankruptcy. Some kinds of debt can never be discharged. Call and set up a free consultation if some of the following items are part of your debt picture.

Student Loans – Most student loan debt is not dischargeable. In some situations a debtor can discharge student loan debt if they can prove the debt causes an extreme hardship. This is usually an uphill battle but possible.

Taxes – Some income tax debt can be discharged in bankruptcy, but this varies. Make an appointment to discuss your individual situation.

Alimony and Child Support – Back payments (arrearages), current child support and alimony are non-dischargeable .

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

WHAT HAPPENS AFTER BANKRUPTCY?

You can improve your credit after the discharge (or completion) of your case. Through bankruptcy people gain the opportunity to rebuild their credit that without the fling would be much more difficult.

FREE CONSULTATION

Contact Keegan & Company Attorneys at 513-752-3900 to schedule a free consultation with an experienced attorney. Choose one of out convenient offices both with free parking: Eastgate and Middletown, Ohio.

Can I Afford to File Bankruptcy? Can You Afford Not To?

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The main concern for many when considering ways to fix their financial problems, is how much will it cost? Many debt consolidation services come with high interest rates and fees that make your situation worse.

It is important to look at the big picture and decide if debt consolidation will allow you to get out of debt and get a fresh financial start. With the help of a qualified, experienced bankruptcy lawyer, you will be able to approach this difficult and stressful process in the most effective manner while keeping costs at a minimum.

Like any other service professional s, such as doctors or mechanics, bankruptcy attorneys base their fee on their experience and ability to perform the task, along with the specifics of your individual case. Going with the attorney that offers the lowest fee is not always the best. Remember, you get what you pay for and the lowest fee may not get you the best result.

We offer a free consultation. At this consultation the attorney will quote you a fee based on your individual situation. There are two fees involved in a bankruptcy filing. One is the court filing fee and the other is the attorney’s fee. When it comes to attorney fees, Keegan & Co Attorneys works on a flat fee basis in nearly all cases.

 

Bankruptcy and Medical Debt

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Bankruptcies resulting from unpaid medical debt will affect nearly 2 million people this year. Medical debt is the main reason for bankruptcy in the United States. Having health insurance does not necessarily protect consumers from incurring massive medical debt. Millions of adults struggle with medical debt. There are an estimated 10 million adults with health insurance who still have medical bills they can’t pay. High-deductible insurance plans require consumers to pay more out-of-pocket costs.

If you are struggling with medical debt, bankruptcy may be the solution for you. Hospital and emergency service providers cannot refuse you service in the future if you were to file for bankruptcy protection.

Call our office 513-752-3900 to schedule a free consultation with an experienced bankruptcy attorney.