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Time for a fresh financial start!

We are bankruptcy attorneys located in Eastgate and Middletown, Ohio. Since 1992, we have served the people of the Greater Cincinnati area.

Can you never get ahead and are always struggling?   Do you start to get ahead and an emergency comes along and you have to use credit cards again?  Or maybe you don’t have enough income to cover your monthly expenses and debts? If you didn’t have all of those debts, would have the funds to make it through each month?

Do you think it is time for a fresh start? Bankruptcy can provide this for you.  There is no reason to keep struggling.

If you are struggling, consider a bankruptcy filing.  Many mistakenly believe they will lose everything they own.  This is simply not true.  Hundreds of thousands of people file for bankrupt in the United States each year – it is just not something that people go around talking about.  Most of your assets will be protected under bankruptcy exemptions.

What exactly is bankruptcy?  Bankruptcy is a federal law which will allow you to discharge your debts, wipe them clean, and get a fresh financial start!.  There are two main chapters for consumers, Chapter 7 and Chapter 13.

CHAPTER 7

Chapter 7 is the most common chapter.  Under this chapter you discharge all of your unsecured debts and get a fresh financial start.  You will not have to pay any of your debts.  Once you receive your discharge the creditors cannot harass you in anyway, including sending you bills, calling you, taking you to court or garnishing your wages.

CHAPTER 13

Chapter 13 can save your home from foreclosure or prevent repossession of your vehicle.  Under this chapter you make a monthly payment to the Chapter 13 Trustee and they disburse this money monthly to your creditors.  You pay back a portion of your unsecured debts at anywhere from 1% to 100%.  After you complete your case you receive a discharge of debts and a report of all debts which were discharged through the case.

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Call 513-752-3900 to schedule your free consultation with an experienced bankruptcy lawyer. We have 2 convenient offices – Eastgate, Clermont County & Middletown, Ohio. Since 1992,  Keegan & Company Attorneys has helped thousands of people protect assets and enjoy relief from overwhelming debt.

Debt Consolidation, Debt Management, Debt Settlement vs. Bankruptcy- Which Way is Best?

Keegan & Company Attorneys is located in Eastgate and Middletown, Ohio. Since 1992, our experienced lawyers have helped people protect their hard earned assets and wages and obtain relief from overwhelming debt. Our office helps consumers get financial relief through the use of Bankruptcy.

Are you struggling with debt?  Many Americans struggle with debt every year. Looking for the best way out of debt can be exhausting and time consuming.  The most common ways out of debt are debt consolidation, debt management, debt settlement, do it yourself, and bankruptcy. As to debt consolidation, management and settlement companies, be careful, there are many unreliable and even predatory companies that will take advantage of you. We advise you to consult with a knowledgeable attorney before you decide.

DEBT CONSOLIDATION

Debt consolidation may mean getting a new loan to pay off your existing debts. The term “consolidate” means to group several things together into one. Doing this may lower your monthly payment and interest rate.

The problem with debt consolidation is you have not reduced your amount of debt, you have simply lumped all of your debt into one loan with one payment.  You are still accruing interest on your high balance and it may take years to pay off this loan.

 

DEBT MANAGEMENT

A debt management plan is a program offered by companies or non-profit groups that say they will help you negotiate a new payment plan with your current creditors.  The debt management company may negotiate your debts with your creditors and you will make a monthly payment to them directly on your behalf.

There are several problems with these debt management plans. Unfortunately, not all of these companies are honest about what they are selling and how they distribute your funds.  We have had many clients tell us that they paid one of these companies for years without ever seeing their balances go down.

 

DEBT SETTLEMENT

Debt settlement occurs when you work directly with your creditors for lower payments or amounts due. Usually, you must have that full amount to immediately pay. This can be good if you have the funds to pay.

Even if you do have the funds for debt settlement, not all creditors will work with you.  Creditors who do reduce your debt will send you a 1099 tax form and the forgiven amount is treated as income to you.  You will likely owe the IRS a part of the savings of debt settlement.

 

DO IT ON YOUR OWN

It really depends on the amount of debt that you have.  If you don’t have much debt this can be a great option.  This is not a great option if you are making minimum payments.

 

BANKRUPTCY IS OFTEN THE BEST OPTION

There are hundreds of thousands of bankruptcies filed in the US each year.  Most are filed by families.

Bankruptcy is often the fastest and easiest way out of debt.  Bankruptcy filing will stay on your credit report for up to 10 years, but all of the options above will affect you for about the same amount of time.  The key to credit after bankruptcy is paying all your debts on time, and careful consideration of any future debt. You will be able to get new credit rather quickly if that is what you desire and can afford. Under federal bankruptcy protection you can protect your assets and wipe out your debts.  There are no negative tax implications for discharging debt in bankruptcy. Creditors can refuse to participate in consolidation and debt management cases but they cannot refuse to participate in a bankruptcy.

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Call 513-752-3900 today for your free consultation with an experienced attorney and then decide for yourself if bankruptcy is your best way out of debt.

Bankruptcy -Protect Your Hard Earned Assets AND Eliminate Overwhelming Debt

Since 1992, our office has helped thousands of people protect their assets and eliminate overwhelming debt. Job loss, divorce, a medical emergency or other catastrophic events are usually why people see us.  Millions of people have used the U.S. bankruptcy laws to get a fresh start.  There are several myths about bankruptcy.

I WILL HAVE TO GIVE UP MY HOUSE AND CAR

The bankruptcy law provides for generous exemptions. Everyday, our clients use legal exemptions to protect their home and vehicles. Sit down with one of our attorneys to learn how your assets can be protected.

BANKRUPTCY WILL RUIN MY CREDIT FOREVER

Bankruptcy stays on your credit report for up to 10 years, but once the slate is clean after bankruptcy, you can start to rebuild your credit. In fact, many people enjoy stronger credit scores after filing. Bankruptcy clears debt and gives a fresh financial start. You are a better credit risk to many creditors after bankruptcy with your unsecured debts eliminated. You will be surprised at the amount of credit card offers you will receive after your bankruptcy filing.  Creditors are willing to extend credit because they know you are debt free and cannot file again for some time.  Keep in mind these offers will initially have high interest and fees. We recommend that you consider your budget, long term goals and needs carefully before taking on any new debt. Bankruptcy has helped millions of Americans get out of debt and bankruptcy can help you too.

BANKRUPTCY IS EXPENSIVE

Many people believe that bankruptcy will be too expensive.  Bankruptcy is not free, but the fee is small compared to the amount of debt you will be discharging.

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The office of Keegan & Company Attorneys offers a free consultation with an experienced attorney and discuss your unique situation. Our attorneys will go over all of your options and quote you a fee.  Our offices are conveniently located in Eastgate and Middletown, Ohio.  Call 513-752-3900 to set up your free consultation appointment.

 

Bankruptcy Terms Explained

If you are facing financial difficulty and considering bankruptcy protection you want to educate yourself on the process and terms before moving forward. Here at Keegan & Company our attorneys will take the time to explain the process in plain English.

Following is an explanation of the most common terms.

BANKRUPTCY –  A legal procedure for businesses and individuals to eliminate debt.

BANKRUPTCY PETITION – The document filed with the bankruptcy court to open a bankruptcy case.

CHAPTER 7 – The chapter of the bankruptcy code in which you eliminate unsecured debts.

CHAPTER 13 – The chapter of the bankruptcy code in which you will pay back a portion of your debts over a three to five year period.

BANKRUPTCY TRUSTEE –  The representative of the bankruptcy estate who exercises statutory powers, principally for the benefit of the unsecured creditors, under the general supervision of the court and the direct supervision of the U.S. trustee. The trustee’s responsibilities include reviewing the debtor’s petition and schedules and bringing actions against creditors or the debtor to recover property of the bankruptcy estate. In chapter 7, the trustee may liquidate property of the estate, and makes distributions to creditors, although this is relatively rare.

AUTOMATIC STAY – An injunction that automatically stops lawsuits, foreclosures, garnishments and all collection proceedings against you the moment the bankruptcy petition is filed.

341 MEETING OF CREDITORS – The meeting required by section 341 of the Bankruptcy Code at which the debtor is questioned under oath by a trustee about his/her financial affairs. Also called creditors’ meeting. Currently, this meeting is held over the phone at our office.

EQUITY – The value of a debtor’s interest in property that remains after liens and other creditors’ interests are considered.

The offices of Keegan & Company Attorneys provide free consultation, fair fees and monthly payment plans.  We allow plenty of time for you to sit down with an experienced attorney to discuss your individual situation. Our attorneys will guide you toward the best path to solve your unique problems. Fees are based on your individual situation and will be quoted at the consultation. During and after your case, we are available to gladly answer any of your questions. Call 513-752-3900, to schedule your free, no obligation consultation.