Keegan & Co Attorneys- Your Warren and Butler County Bankruptcy Attorneys. 513-422-2994.
Chapter 13 Bankruptcy
Chapter 13 Bankruptcy is usually filed to stop a Foreclosure and Sheriff’s sale of a client’s property. With a Chapter 13 case, our attorneys can force your bank to allow you to catch up your mortgage arrearage over a number of years. This is done by order of the court and the bank cannot refuse to accept these catch up payments. We can stop a foreclosure right up until the morning of the Sheriff’s sale.
Chapter 7 Bankruptcy
Chapter 7 Bankruptcy provides our clients with a fresh start. A Chapter 7 Bankruptcy will wipe out all debts except child-support, student loans and some tax debt. Depending on the circumstances, a lot of tax debt may be discharged. Secured debt such as debt on houses and cars can be discharged as well, although the creditor will eventually receive it’s collateral back in complete satisfaction of the debt. Credit card debt, medical bills, unsecured loans, etc. are all wiped out. Every individual’s facts and circumstances are different, but we will analyze your situation with a free consultation and advise you accordingly.[/expand]
Debt consolidation is also known as a Chapter 13 Bankruptcy. In addition to stopping a foreclosure on your home or repossession of your car, a Chapter 13 will allow you to pay your unsecured creditors back at a percentage of what is owed. Some of our clients pay back as little as 1% of their total debt. All interest charges on your unsecured debt will stop as of the date of the filing. Unlike a voluntary “debt consolidation” through a debt consolidation company, Chapter 13 is court ordered and all your creditors must abide by the plan.
The vast majority of “Debt Consolidations” made through debt consolidation companies fail because they are voluntary. Typically, under these agreements interest charges continue to be charged and added to your debt. Furthermore, many creditors refuse to participate in agreements made through debt consolidation companies.
When you file a Chapter 13 through our office your agreement will become a court order. If your creditors refuse to participate, they do not get paid and their debts will be discharged when you complete your case.
Stopping creditor harassment
Are you overwhelmed with creditor calls? We can help you get relief! Stopping creditor harassment become immediate upon filing Chapter 7 or Chapter 13 Bankruptcy. Creditors are ordered by the court to cease any and all collection activities against you. This includes: garnishments, repossessions, foreclosures, lawsuits, collection letters, and collection phone calls. Any creditor who persists after receiving the court order to stop all collection efforts may be held in contempt of court. 99.9% of creditors realize this and cease their collection efforts immediately. If a creditor seizes any asset of yours after filing we can get it back for you.
Stopping wage garnishments
Stopping a wage garnishments is vital way we can help prevent your debt problems from spiraling out of control. Once your wages have been attached it is important to act quickly. Otherwise, your creditor will take 25% of your wages until their debt is completely satisfied. Filing bankruptcy will immediately stop wage garnishments. Moreover, any funds taken after your case is filed must be returned to you by your creditor.
Stopping mortgage foreclosures
Stopping mortgage foreclosures is one of the most powerful aspects of the bankruptcy code. If you would like to keep your house and can afford to catch up back payments over several years (while keeping your normal payments current), Chapter 13 is a solution for you.
Your mortgage company does not have to agree. The court orders that your mortgage company accept arrearage payments over time. If you stay current with your payments going forward and make your chapter 13 plan payments, the bank must stop the foreclosure permanently.
In a Chapter 13 our attorneys can free up enough money for you to both stay current and cure your mortgage arrearage. This is because your unsecured creditors are paid back at no interest, and at a lesser percentage of what is owed.
If you cannot afford, or do not want to keep your house, a Chapter 7 bankruptcy will stop a foreclosure. In this case, you will get an extended period to seek other housing and get your financial life in order. Our clients usually have many months before being forced out of their home.
Keegan & Co Attorneys can stop a foreclosure right up to the morning of the sheriff’s sale. If you are facing foreclosure don’t delay. Call to schedule your free consultation. For our Eastgate location call 513-752-3900 or for the Middletown location call 513-422-2994. We are here to help you!
The goal of many of our clients is Credit Restoration. In most cases, a bankruptcy filing is the first step toward better credit. At the end of your bankruptcy your debts will be discharged and you will emerge from your case debt free. Most creditors would rather loan to a person who is debt-free through bankruptcy then to those who have delinquent and outstanding debt.
Bankruptcy will not improve your credit short term but for those thinking long term, it can be the best solution toward better credit. After your bankruptcy, you can rebuild your credit by making rent, utility and car payments on time. Secured credit cards are a great way to rebuild credit. We advise our clients to make small charges and pay all credit payments on time.If after you establish an on-time payment history over the one to three years post- bankruptcy, you will be in a great position to obtain mortgage loans, car loans and credit cards at normal interest rates.
Keep in mind you are limited to receiving a discharge in Chapter 7 Bankruptcy only once every eight years. After Bankruptcy, we advise our clients to be careful with credit going forward. Credit is a necessary and indispensable factor in modern life, most simply cannot do without it.
Ignoring credit delinquencies will impact your credit record indefinitely and without action rebuilding your credit is nearly impossible. So, if you are considering shopping for a home or car loan in the future, now may be the time to clean things up through a bankruptcy.
Stopping bank accounts seizures
Stopping a creditor from seizing your bank account can be accomplished through a bankruptcy filing. A bankruptcy filing results in a court ordered “automatic stay”. The automatic stay stops foreclosure, garnishment, collection calls, auto repossessions, bank account seizures. This automatic stay stops all collection efforts against you of any kind.
If credit issues are spiraling out-of-control for you, a bankruptcy filing will stop everything in its tracks. Once all seizures and collections are stopped, we will have time to continue to work with you on reorganizing and/or discharging your debt. Additionally, we will use prebankruptcy planning strategies and apply state and federal exemption laws to allow you to keep most, if not all, of your property.
Stopping automobile repossession and lease returns
Fair debt collections practices act representation
Asset protection is a critical goal for anyone owning or operating a business. Proper structuring of ownership of both your business and personal assets can protect these assets from subsequent lawsuits and creditors.
Ohio has a very strong Limited Liability Company (LLC) statute. Our Attorneys can plan and structure your business ownership and operating companies such that a downturn or loss from your business does not affect your personal assets. We can structure personal assets to make them more creditor proof, therefore, protecting these assets from potential future liability or claim.
It is wise business decision to utilize the Attorneys of Keegan & Co. regarding the initial set up and reorganizing of your business ownership structure. If you are operating your company as a sole proprietorship or general partnership, you are at risk of devastating personal loss in the event of lawsuit or other creditor claim. Even if you are not now in financial trouble, now is the time to protect and rethink the organization of your business and personal assets.
Call (513) 422-2994 for a Free Consultation.