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Can bankruptcy help me?

We are bankruptcy attorneys located in Eastgate, OH.  We specialize in chapter 7 bankruptcy and chapter 13 bankruptcy.

WHAT IS BANKRUPTCY?

This is the legal proceeding which relieves debtors from responsibility of debt payments who cannot meet them and also provides protection while attempting to repay the debts.

HOW CAN BANKRUPTCY HELP ME?

Filing bankruptcy could wipe out credit card debt and other unsecured debts. If filed, no creditor can legally collect of those debts.

Bankruptcy can stop creditor harassment, as in phone calls and harassing letters and could stop repossession of your car or foreclosure of your mortgage. You could still retain your home even if a foreclosure has already been filed.

Medical debt is discharged through bankruptcy. Overall, health care is the main reason in the U.S. for filing bankruptcy. Hospitals and ER services cannot refuse you service in the future, if you were to file.

You do NOT lose everything you own. Sometimes in a chapter 7, the trustee may take items and sell them to pay on your debts.

These are just some of the ways that a bankruptcy could help you.

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 fees, utilities, etc.). You can also keep your house and vehicle in chapter 7, as long as your current on payments. Chapter 7 is a straight bankruptcy, referred to as a liquidation bankruptcy. This will stop all collection proceedings including phone calls, mailings, garnishments and court proceedings. As many as 65% of consumer bankruptcy filings in the U.S. are chapter 7.

Chapter 13 is a repayment plan. It is referred to as a wage earner. You must have a reliable source of income so that you can repay all or a portion of your debt. Chapter 13 will stop a foreclosure or repossession as well. It is designed to help you retain your home or vehicle if your behind. You will repay 1% to 100% of your debt, depending on the individuals situation. This will last a minimum of three years and max of five years. During this time it will be up to the creditors to file claim in order to be paid during the case.

 

WHAT DEBTS WILL A BANKRUPTCY NOT ERASE?

Most of your debts can be discharged in a bankruptcy. Some debts are not dischargeable. They cannot be wiped out in a chapter 7 or at the end of a chapter 13. Some kinds of debt can never be discharged.

Student Loans – Most student loan debt is not dischargeable. In some situations a debtor can claim that student loan debt causes an extreme hardship and can obtain a discharge, but it is very difficult to persuade a Bankruptcy Court to discharge a student loan debt.

Taxes – Some income tax debt can be discharged in bankruptcy, but this varies, you should make an appointment for your free consultation to discuss your individual situation.

Alimony and Child Support – Back payments or arrearages for child support and for alimony are nondischargeable. Orders to pay attorney fees in child support and child custody cases are usually nondischargeable.

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

WHAT HAPPENS AFTER BANKRUPTCY?

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. You can improve your credit after filing and being discharged. This gives people the opportunity to rebuild their credit because it eliminates the old debt.

MORE INFORMATION

For more information check out our website at https://keegancolpa.com/

FREE CONSULTATION

Contact our office today in Eastgate, Ohio for your free consultation to see if bankruptcy will give you the financial relief you are looking for.

BANKRUPTCY OPTIONS

We are the law firm of Keegan & Co Attorneys LLC.  We are a bankruptcy firm located in Eastgate, Ohio.

Are your struggling with debt?  Credit card debt, medical debt and all types of other debts can become overwhelming.  Bankruptcy may provide you with the financial relief you are looking for.

Many reasons contribute to a person struggling with debt.  Job loss, medical issues, loss of a spouse or even in today’s economy the increase of health insurance costs will play a major factor.  Every year in the United States thousands of people file for bankruptcy protection, bankruptcy can too help you to get a fresh financial start.

FILING FOR BANKRUPTCY PROTECTION

The first step if you are thinking of filing for bankruptcy is to sit down with an experienced bankruptcy attorney to discuss your options.  At our firm we offer a free consultation, at this consultation you will be able to sit down with one of our attorneys and discuss your individual situation.  The attorney would then be able to advise you on your best financial options.

If you decide to proceed with the process of bankruptcy, you will then put down a small down payment and we will accept monthly payments until your paid we then will file your case.

In the meantime we will be gathering information from you.  It is crucial that you are honest as to all your debts, assets, income and expenses, you may feel that it is personal, but bankruptcy is a personal issue.  Of course there could be small things that you forget, but when you sign your documentation you will be given a chance to review all of your information and you will sign that all information is “complete and accurate”, to the best of your knowledge.  Filing your signature on this final page of your bankruptcy petition is basically your signature under oath.  Deliberate omission of requested information could lead to serious repercussions.  A few oversights or errors probably will not ruin your petition and you will likely be given a change to correct them, however, double-check all the information before filing to be sure you did not omit any of your assets or debts.

REPORTING DEBTS

You must list all of your creditors on your case.  There may be creditors you do not wish to list on your bankruptcy filing, including friends or business owners that you have a relationship with.  Although your motives may be well intended, remember that any omission could be considered bankruptcy fraud.  You must list all creditors who you carry a balance with.

You may have debts reporting on your credit that you dispute, these debts also will need to be listed in your case.  If you dispute the debt this is one way to make sure it gets off of your credit.

BANKRUPTCY FILING

Once your case is signed we will then file your case.  You will have a court date, which is called a 341 Meeting of Creditors in 4-6 weeks, we will appear at this meeting with you.  This meeting gives creditors a chance to object to your bankruptcy filing, however, most of the time creditors do not show up at these meetings.  They must have good reason to dispute your discharge.

A discharge is the document you will receive which will deem all of your debts listed on the case uncollectable, and creditors will not be able to contact you regarding these debts in any form.

MORE INFORMATION

For more information check out our website at Keegan

FREE CONSULTATION

Contact our Eastgate, Ohio bankruptcy attorney today for your free consultation to see if bankruptcy will give you the financial relief you are looking for.

 

 

 

Chapter 7 Bankruptcy Bits

We are bankruptcy attorneys located in Eastgate, Ohio.  We specialize in chapter 7 bankruptcy and chapter 13 bankruptcy.

WHAT IS BANKRUPTCY?

Bankruptcy is a legal status of a person who cannot pay their debts owed to creditors.  Bankruptcy is not only the legal status that an insolvent person or other entity may have, and the term bankruptcy is not a synonym for insolvency.   Bankruptcy in the United States is a matter placed under federal jurisdiction by the United States Constitution, which allows congress to enact “uniform laws on the subject of bankruptcies throughout the United States.”  The Congress has enacted statutes governing bankruptcy, primarily in the form of the Bankruptcy Code, located at Title 11 of the United States Code.  Federal law is amplified by state law in some places where federal law fails to speak or expressly defers to state law.

Generally, a debtor declares bankruptcy to obtain relief from debt, and this is accomplished either through a discharge of the debt or through a restructuring of the debt.  Generally when a debtor files a voluntary petition, their bankruptcy case commences.

THE PROCESS OF BANKRUPTCY

The first step for filing for bankruptcy protection is calling in and setting up your free consultation.  At this free consultation you will be able to sit down with an experienced bankruptcy attorney and discuss your individual situation.  The attorney will then be able to advise you on the best plan to get your finances back on the right track.  This may be a bankruptcy filing but it may not be in your best interest to file at this time.  Either way when you leave our office you will have an idea of what road you are going to take.

If it is in your best interest to file for bankruptcy and you decide this is what you want to do you will then need to put down a retainer towards your fees.  Your fees will be quoted to you during your free consultation.

You can pay your retainer fee, which is a very fair retainer fee and then we will accept monthly payments until you pay your fees in full.  Once you retain this office you will quit paying on any debts that you do not wish to keep and then refer your creditors to our office and let them know that you are in the process of filing for bankruptcy protection.

We will then gather your information and accept your monthly payments.  Once your fees are paid in full your case will be ready to file.

AFTER FILING FOR BANKRUPTCY

Once your case is filed all of your creditors will be notified by the Bankruptcy Court of your bankruptcy filing.  You will then be under the protection of the bankruptcy stay, this will stop all forms of collections.  It is against federal law for creditors to harass you while under the bankruptcy stay.

You will have a court date, which is referred to as a 341 Meeting of Creditors.  At this time your creditors will have a chance to object to your discharge if they wish.  You will receive your discharge around 90 days from your filing.

MORE INFORMATION

For more information check out our website at Keegan

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

Should We File Bankruptcy Together?

We are bankruptcy attorneys located in Eastgate, Ohio.

Are you considering filing for bankruptcy protection?  Are you currently married and wondering if you decide to file for bankruptcy do both you and your spouse have to file?  There are several factors that will help you make this decision, but for the most accurate advise you should contact our office to make an appointment for your free consultation to sit down with an attorney and discuss your individual situation.

I AM MARRIED DO WE HAVE TO FILE TOGETHER?

No.  It is not necessary to file together if you do not want to.  One spouse has more debt than the other and is currently in need of filing for bankruptcy but the other is not, then there is no need for the other spouse to file.  However, if the non-filing spouse is joint on any of the debts they will still be responsible for this debt.

WE ARE DIVORCING SHOULD WE WAIT TO FILE?

No.  It would not be in your best interest to wait until after your divorce to file for bankruptcy protection.  If you file for bankruptcy protection together before your divorce is final it will save you in the long run.  More than likely after a divorce more most bankruptcy is the next step.  The joint debts of the marriage are usually too much for one to take on alone.  It is in your best interest to just go ahead and file before you divorce.  This way you will only have to pay one court fee.  The attorney fee for a joint case will be slightly more than for a single case but will be much less than two single bankruptcy filings.

MORE INFORMATION

If you are considering filing for bankruptcy and wondering if you and your spouse should file together contact our office today for your free consultation.  At this consultation you will be able to sit down with a experienced bankruptcy attorney and discuss your individual case.

You can also check out our website at Keegan

Bankruptcy is not the end of the world.  Thousands of Americans have filed for bankruptcy protection it is designed to give you a fresh financial start.

Contact our Eastgate, Ohio bankruptcy attorney today!