We are bankruptcy attorneys located in Eastgate, Ohio. We specialize in Chapter 13 and Chapter 7 Bankruptcy filings.
Are you struggling with debt? The ends just aren’t meeting at the end of the month. Expenses keep going up, wondering when will it ever end? Making those minimum payments on your credit cards each month just to see a higher balance the next month? The stack of bills in the mailbox can be overwhelming and you just don’t know where to turn. The piggy bank is broken and like humpty dumpty it can’t be put back together again.
This is nothing new, people have been struggling with debt for centuries. The Statute of Bankrupts of 1542 was the first statute under English law dealing with bankruptcy or insolvency. Bankruptcy is also documented in East Asia. In ancient Greece if one could not pay their debts then the entire family would be put into debt slavery until the time that their debts were paid. According to al-Maqrizi, the Yassa of Genghis Khan contained a provision that mandated the death penalty for anyone who became bankrupt three times.
BUT THINGS ARE BETTER TODAY
In modern times we do not have to worry about slavery or death because if we have gotten in a little over our heads in debt bankruptcy is available to people going through hard times. It is usually not your fault that you cannot pay your debts, the credit card companies offer more and more credit, medical debt can add up quickly and there are things that are just needed to survive. Bankruptcy is there as a safety net when you hit those hard times and it does not mean that you are a bad person, you are just a good person going through bad times just like all of those other people throughout history. You can fix your piggy bank and get a fresh financial start and more bright future.
YOU ARE NOT ALONE
There are over a million bankruptcy filings in the United States each year. People just like you file for federal protection from their debts. Bankruptcy is nothing to be ashamed of. Most of your friends and neighbors have had to file at some point in their lifetimes.
There are several chapters of bankruptcy available, but most consumers will file a Chapter 7 or Chapter 13 bankruptcy.
Chapter 7 is a total wipe out of all of your dischargeable debts. This means that you will not have to pay back these debts at anytime at all. There are very few debts which you cannot discharge through bankruptcy. Of course secured debts, which you would want to keep such as your vehicle or home you would just keep making your payments and be able to keep these assets if you wish. Or you may surrender these assets through the bankruptcy case. Most unsecured debts are able to be discharged through a Chapter 7. Even some IRS debts can be discharged.
Chapter 13 is a repayment plan. This plan can reduce your debt, as you will only pay a percentage of your unsecured debts. This chapter can also stop your home from foreclosure or your vehicle from repossession.
Everyone’s situation is unique. We offer a free consultation where you can come and speak with an attorney about your current circumstances.
For more information check out our website at Keegan .