Choose the right path
Going through bankruptcy is a fairly straightforward process, but it has the potential to be a bit confusing. It is important to have an experienced lawyer by your side who can work to ensure that everything goes smoothly. Read about our practice areas and the difference between filing for Chapter 7 and Chapter 13 bankruptcy so you can get an idea of what the bankruptcy process entails.
• Chapter 7
• Chapter 13
• Credit reports and repairs
• Bankruptcy and divorce
• Harassment and wage garnishments
• Life after bankruptcy
• Business bankruptcy
• Student Loans
• Credit card debt
The following steps happen for all Chapter 7 and Chapter 13 filings:
• You will need to receive credit counseling from an accredited agency
• Your petition is filed, along with supporting documentation detailing your assets and debts as well as your income and expenses
• You will attend a creditor's meeting where you will be put under oath and asked questions about your financial affairs by your trustee and creditors.
In order to qualify for Chapter 7 bankruptcy you will first need to pass a means test, which measures your income against other people in Ohio and your level of disposable income.
Once your bankruptcy request has been approved, the process of identifying any nonexempt assets that can be sold to repay your debt will begin. It is possible that the trustee will declare you a "no-asset" if you have no property that can be sold at auction.
For Chapter 13, you will need to submit the proposed repayment plan that was developed during credit counseling with your bankruptcy petition.
Dean Snyder, Attorney at Law, has more than 20 years of experience helping individuals and families gain a fresh start through personal bankruptcy.
Find out if bankruptcy could be the solution you need with a FREE consultation.