We are bankruptcy attorneys located in Middletown, Ohio. We specialize in Chapter 7 and Chapter 13 bankruptcy filings.
Have you gotten in over your head with debt? Many out of your control circumstances can lead to this. Job loss, divorce and medical emergency. You are not alone, millions of Americans struggle with debt every month. At our office we can help you get out of debt by helping you file for bankruptcy protection. Sometimes debt can get out of our control but we can regain control and not just be a leaf blowing in the wind. Bankruptcy is not for everyone but many it is the best way out of debt.
There are two chapters of bankruptcy for the consumer, Chapter 7 and Chapter 13. What are the differences between Chapter 7 and Chapter 13?
Under Chapter 7 you will be able to discharge (wipe out, erase, get rid of) all of your unsecured debt and not have to pay anything back. Once you file for Chapter 7 all collection actions must stop, this includes phone calls, mailings, court proceedings and current garnishments must stop. Even if you already have a garnishment on your pay check it will have to stop once your Chapter 7 is filed. Any funds that might be taken after the case filing will be returned to you by the creditor. Under Chapter 7 the trustee may sell some of your assets, but in most cases this is not the case because of the exemptions which will protect your assets. Most people who consider filing for bankruptcy want to file under this chapter as it is the quickest way for you to get out of debt and get a fresh financial start.
Chapter 13 is designed for people who make too much to qualify for a Chapter 7. Under Chapter 13 the same goes as under 7 that all collection actions must stop, including phone calls, mailing court, proceedings and current garnishments. Chapter 13 can also stop a foreclosure and allow you to save your home. You will be able to do this by making your missed payments over the next three to five years. Under Chapter 13 you will make one lump sum payment to the Chapter 13 Trustee and they will disburse your funds to your creditors. Your regular house payment may also be included in the payment. This is a good practice as at the end of your case the Trustee will file documentation with the court deeming that you are current on your payments. This prevents the creditor from coming back on you after discharge and stating that you still have outstanding fees. You will not pay back 100% of your unsecured debts. You will pay a percentage of your unsecured debts from 1% to 100%. In order for the creditor to be paid they must file a proof of claim with the court, if they fail to file this documentation once you are discharged these debts will also be deemed discharged.
At our office we will offer you a free consultation. At this consultation you will be able to sit down with one of our attorney and discuss your individual situation. He would quote you a fee at the free consultation. If you decide to move forward with bankruptcy a small retainer fee will get things started, once you retain our office you will be able to forward your creditors to us until your fees are paid in full and your case is filed.
Do not continue to blow around like a leaf out of control. You do have control over your circumstances and there is something you can do to change it.
For more information see our website at www.middletown-bankruptcy.com.
Contact your Middletown, Ohio bankruptcy attorney today!