Tag Archives: Eastgate Ohio Bankrutpcy Lawyer

BANKRUPTCY

We are bankruptcy attorneys located in Eastgate, Ohio.  We specialize in Chapter 7 and Chapter 13 Bankruptcy filings.

Many people get over their heads in debt.  This can happen for many reasons, job loss, health
fuelissues, divorce as just a few of the most common reasons people get into debt.   Many will do many things to try to keep their heads above water during this time, but there are some things that you should not do if you are struggling with debt before you consider filing for bankruptcy to get a fresh financial start.

Do not take out a second mortgage on your home to pay your debts.  If you cannot pay your unsecured debts why would you transfer them to a secure debt attached to your home, once you do that if you cannot make these payments the creditor would be entitled to take your home through foreclosure.

Do not pay your debts out of a retirement savings account.  You will need these funds in the future when you are able to retire.  Retirement accounts will also be protected through a bankruptcy filing.

Do not max out your credit cards to stay afloat.  Recently incurred charges may not be able to be discharged through a bankruptcy filing.

Do not transfer your home to another person to avoid having a lien placed on your property.  If you do this you will not be able to file for at least 4 years and this could be considered fraud in the eyes of the court.

Bankruptcy is not the end of the world, just because you have fallen into a bad financial situation does not mean that you are a bad person.  There are hundreds of thousands of bankruptcy filings in the United States each and every year.

Here are some thoughts of things to do when filing for bankruptcy.

Do consider this decision very carefully.  Are you really in so far over your head that bankruptcy is the only way out.  Under Chapter 7 you will only be able to receive a discharge every 8 years.  There are other options if you have filed within the last 8 years and are struggling, contact us for a free consultation to discuss these options, 513-752-3900.

Do follow the advise of your attorney.  At our office we have over 30 years of combined experience and will be able to guide you to make sure your bankruptcy is as painless as possible.

Do be honest in all of your answers on the petition.  Be sure to list all assets and not leave anything out.

Do be sure to list all of your creditors on your petition.

Do close any bank accounts you have any credit lines or credit cards associated with.  This will prevent the account from being seized by the creditor.

41708903-funny-cartoon-guy-in-various-posesBankruptcy is a serious decision and one that should not be taken lightly.  Contact our office for your free consultation to discuss your individual situation to see if bankruptcy is the right decision for you.

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

Call today for your free bankruptcy consultation in our Eastgate, Ohio.

Thinking of Bankruptcy

We are bankruptcy attorneys located in Eastgate, Ohio.  Our main focus of practice has been Chapter 7 and Chapter 13 Bankruptcy filings for over 30 years,

Many people get over their heads in debt.  This can happen for many reasons, job loss, health
fuelissues, divorce as just a few of the most common reasons people get into debt.   Many will do many things to try to keep their heads above water during this time, but there are some things that you should not do if you are struggling with debt before you consider filing for bankruptcy to get a fresh financial start.

Do not take out a second mortgage on your home to pay your debts.  If you cannot pay your unsecured debts why would you transfer them to a secure debt attached to your home, once you do that if you cannot make these payments the creditor would be entitled to take your home through foreclosure.

Do not pay your debts out of a retirement savings account.  You will need these funds in the future when you are able to retire.  Retirement accounts will also be protected through a bankruptcy filing.

Do not max out your credit cards to stay afloat.  Recently incurred charges may not be able to be discharged through a bankruptcy filing.

Do not transfer your home to another person to avoid having a lien placed on your property.  If you do this you will not be able to file for at least 4 years and this could be considered fraud in the eyes of the court.

Bankruptcy is not the end of the world, just because you have fallen into a bad financial situation does not mean that you are a bad person.  There are hundreds of thousands of bankruptcy filings in the United States each and every year.

Here are some thoughts of things to do when filing for bankruptcy.

Do consider this decision very carefully.  Are you really in so far over your head that bankruptcy is the only way out.  Under Chapter 7 you will only be able to receive a discharge every 8 years.  There are other options if you have filed within the last 8 years and are struggling, contact us for a free consultation to discuss these options, 513-752-3900.

Do follow the advise of your attorney.  At our office we have over 30 years of combined experience and will be able to guide you to make sure your bankruptcy is as painless as possible.

Do be honest in all of your answers on the petition.  Be sure to list all assets and not leave anything out.

Do be sure to list all of your creditors on your petition.

Do close any bank accounts you have any credit lines or credit cards associated with.  This will prevent the account from being seized by the creditor.

41708903-funny-cartoon-guy-in-various-posesBankruptcy is a serious decision and one that should not be taken lightly.  Contact our office for your free consultation to discuss your individual situation to see if bankruptcy is the right decision for you.

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

Call today for your free bankruptcy consultation in our Eastgate, Ohio.

CHAPTER 13 BASICS

We are bankruptcy attorneys located in Eastgate, Ohio, Ohio.  Our main focus of practice has been Chapter 7 and Chapter 13 Bankruptcy for over 30 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 fuelpaying 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 your 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 dollarsmortgage,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 CONSULTATION

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 www.keegancolpa.com.

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

CHAPTER 13 BASICS

We are bankruptcy attorneys located in Eastgate, Ohio.  Our main focus of practice has been Chapter 7 and Chapter 13 bankruptcy filings for over 28 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 images (2)these situations, same if you are making more money at the time we would have to increase your 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 25604196-a-person-drawing-and-pointing-at-a-bankruptcy-consulting-chalk-illustrationone 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 www.keegancolpa.com.

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