What is Bankruptcy?

We are a bankruptcy attorneys located in Eastgate, Ohio.

Not sure what bankruptcy is? Bankruptcy is a process in which consumers and businesses can eliminate or re-pay some or all of their debts under the federal protection of a stay through the bankruptcy court. Basically there are two types of chapters available for the consumer; Chapter 7 bankruptcy and Chapter 13 Bankruptcy.

Chapter 7 bankruptcy is designed to clear off or discharge all of your unsecured debt. This will give you a fresh financial start. Creditors can no longer collect on debts by telephone calls or court proceedings. If there were secured items that you wish to keep such as your home or vehicle you would re-sign on these items under a reaffirmation agreement.

A reaffirmation agreement is a bankruptcy document that you would sign to reaffirm debts that you do not want to discharge through your case. The debts that are re-signed on will report to the credit reporting agencies and help to re-build your credit.

Chapter 7 Bankruptcy is also referred to as a “liquidation bankruptcy” because the trustee may take and sell or liquidate some of your property to pay back some of your debt. However, you will be able to keep most if not all of your property due to the protection of the bankruptcy exemptions. These include such things as your home, vehicle, cash on hand, jewelry, household items, retirement plans, and most other assets. The exemptions vary so you should contact our Eastgate, Ohio bankruptcy firm for further details.

Are you eligible for a Chapter 7 Bankruptcy. Not everyone can qualify for Chapter 7, there are several factors to consider, but most can qualify. Contact our office today for your free consultation to see if you qualify for Chapter 7 Bankruptcy.

Chapter 13 Bankruptcy is also referred to as a “wage earner” plan because in order to file for Chapter 13 protection you must have a reliable source of income so that you can repay all or a portion of your debt,

In Chapter 13 bankruptcy you will pay back a percentage of your unsecured debts, this can range from 1% to 100% depending on your individual situation. Chapter 13 can also stop a foreclosure action and a vehicle repossession and allow you to make up your missed payments through the chapter 13 plan.

If you file for Chapter 13 be prepared to be in the case for a minimum of 3 years and a maximum of 5 years. It will be up to the creditors to file a claim in order to be paid during this case. During this time period you will repay a percentage of your unsecured debts, your secured debts and any missed payments you had on your house or vehicle. At the end you will receive a discharge as to all remaining debt.

For more information check out our website at Keegan

If you are thinking of bankruptcy, contact our Eastgate, Ohio bankruptcy attorneys today. We offer a free consultation, fair fees and monthly payment plans.


Is Bankruptcy the Answer?

We are bankruptcy attorneys located in Eastgate, Ohio.

As we look forward to a new year, there are many uncertain financial factors that lie before us in the new year.  Many Americans will be facing increased health insurance premiums, increased prices at the grocery store and the continued confusion of prices which occurs at our gas pumps.  Many Americans are already struggling to get by and with the new expenses it will just be a matter of time before the credit card companies see an increase in the amount of debt Americans are carrying and then soon they will be paying their debts less on time.  We had been in a period where Americans were paying down their debts and also paying their debts on time.  But with the coming changes I foresee that things are going to get very bad again.  We are supposedly in a recovery from the recession, but these factors will once again put people in hole and looking for answers.

Bankruptcy may be the answer to this situation.  No one really wants to file for bankruptcy protection, but sometimes it is the only answer.  Bankruptcy is a federal program which discharges your debt through the issuance of a discharge.  Once you receive this discharge no creditor can legally collect on debts included in your bankruptcy.  Bankruptcy is not like wheel-of-fortune bankruptcy, you do not loose everything you own.  There are many chapters of Bankruptcy but the most common are Chapter 7 and Chapter 13.

Chapter 7 Bankruptcy will wipe out all of your unsecured debt and give you a fresh financial start.  What is unsecured debt?  This includes debts such as credit card debt, medical debt, utilities and even reinstatement fees.  Chapter 7 will allow you to get rid of all your unsecured debt and a fresh financial start.  Under Chapter 7 Bankruptcy you will be able to keep your home and your vehicle, as long as you are current on your payments.  The creditor will want you to sign a reaffirmation agreement which deems this debt non-discharged through your bankruptcy, you continue to make your payments and the creditor will continue to report your payments and you retain the collateral just as if you did not file bankruptcy on this debt.

Chapter 13 Bankruptcy is designed to help you retain your home or your car if your are behind on payments.  Under a Chapter 13 Bankruptcy you will repay a percentage of your unsecured debts.  You can retain your home, even if a foreclosure has been filed.  Chapter 13 will stop a foreclosure, it will allow you to make up the payments you are behind over a three to five year period.  It will also stop a car from repossession and allow you to make the missed payments over the same time period.  Chapter 13 can help you get back on your feet and also give you a fresh financial start.

Bankruptcy is not the end of the world!  It can be a great help.  It does not hold the old stigma as in the past, in the economy today it is very common.  If you want to have credit you will be surprised at the amount of credit offers you will receive once you file for bankruptcy protection.  Creditors know you cannot file a full bankruptcy for eight years, so you are low risk to them.

For more information check out our website at Keegan

At our Eastgate, Ohio office we offer a free consultation.  Call today to find out if bankruptcy is the answer for you to create a fresh financial start in the new year.

Call our Eastgate, Ohio Bankruptcy Attorney today for your free consultation.





Christmas Debt

We are bankruptcy attorneys located in Eastgate, Ohio.

Did you know that half of all shoppers plan to borrow money to pay for Christmas.

Taking on debt isn’t the end of the world as long as it gets paid off promptly. But many Americans don’t seem to have such a fiscally responsible outlook: 36 percent in one survey said that buying presents for loved ones was more important than sticking to a budget or not taking on more credit card debt. Retailers will be happy to note that of the 90 percent of Americans planning to buy gifts this season, almost a third of them (31 percent) approach the task with no predetermined spending limit. This is just what they want. Of course they are in business to make money, but does that really have to be at your cost. Once those monthly statements come rolling in, debtors may not be able to make the monthly payments. Cutting corners in other areas such as food and their utilities. Every time you go to the grocery store it seems they’ve raised the prices again and many americans will be facing increased health insurance rates in the coming year.

All of this will add up to more people struggling to pay their living expenses. Some may resort to pay day loans, which is a viscious cycle, once you pay them back you need to take out another loan because you have paid them all of your money and the same the next time you get paid!

We can help you file for bankruptcy. Bankruptcy may be the solution to your financial problems. At our office we offer a free consultation where you can sit down and talk to an experienced knowledgable bankruptcy attorney. He will be able to explain your options and you will know what you plan to do by the time you leave our office. Bankruptcy does not hold the old stigma of the past, in todays economy bankruptcy is quite common.

For more information check out our website at

If you are interested in filing for bankruptcy contact our Eastgate, Ohio bankruptcy attorney today.

Bankruptcy and Medical Debt

We are bankruptcy attorneys located in Eastgate, Ohio.

Bankruptcies resulting from unpaid medical debt will affect nearly 2 million people this year, making health care the main reason for bankruptcy filings in the United States. Health care debt surpasses bankruptcies due to credit card debt and unpaid mortgages. Even having health insurance does not protect consumers from incurring massive medical debt. Even outside of bankruptcy millions of adults between the ages of 19 and 64 struggle with health care debt. If you think only Americans without health insurance face troubles, think again. There is an estimated 10 million adults with year-round health insurance that will still acculumate medical bills they can’t pay for this year. High-deducible insurance plans are requiring consumers to pay more out-of-pocket costs, this is a challenge to many households.

If you are struggling with medical debt, bankruptcy may be the solution for you.

What medical debts are dischargable through bankruptcy? All medical debt is discharable through bankruptcy. Hospital and emergency service providers cannot refuse you service in the future if you were to file for bankruptcy protection. However, family doctors can refuse you service in the future so would not want to file on them unless you were not going to use their services in the future. The same theory goes for your family dentist.

For more information check out our website at Keegan

If you are struggling with medical debt, we will be able to help you. Contact our Eastgate, Ohio office today for your free consultation with a bankruptcy attorney.