Mail Documents To Your Trustee
At the time you are filing your Chapter 7 in Ohio your case will be assigned to a Chapter 7 bankruptcy trustee to handle your case. Often your Chapter 7 trustee will require specific documents in addition to the bankruptcy forms to prepare for your . You will be notified by mail from your trustee what these documents are. Theyâre usually the same kind of documents you used to fill out your bankruptcy forms.
Make certain to send all of the requested documents to your trustee well in advance of any stated deadline, and at a minimum you should aim for at least one week before your scheduled 341 meeting. If you havenât heard from your trustee, and the date of your 341 meeting is approaching, feel free to reach out to their office directly.
From Chapter 7 Bankruptcy To Chapter 13 Bankruptcy
Actually, you can file a Chapter 13 bankruptcy immediately after filing a Chapter 7 bankruptcy. It is known as a Chapter 20 bankruptcy. This is a strategy employed for a client who is eligible to file a Chapter 7 but is also in need of:
- catching up a house payment
- restructuring a car payment
- or paying off a priority debt, like the IRS.
The Chapter 7 bankruptcy eliminates all unsecured debt. Upon discharge, the Chapter 13 bankruptcy is filed to restructure the secured debt payments. There is no Chapter 13 bankruptcy discharge in this scenario. However, the discharge isnt needed, since the client already received a Chapter 7 bankruptcy discharge.
If there is at least 4 years between the Chapter 7 bankruptcy filing and the subsequent Chapter 13 bankruptcy filing, a Chapter 13 bankruptcy discharge will be granted upon the successful completion of your Chapter 13 plan.
File Your Bankruptcy Petition In Person
If filing pro se, youll have to file the bankruptcy petition in person. You can find information on the location of the Southern District Court on our website here. Be sure to include all the necessary documentation, including your completed forms, the credit counseling certificate of completion, proper identification, and the filing fee. Check with the court for specific hours . When working with a bankruptcy lawyer, they will file the bankruptcy petition for you.
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Talk To Our Cincinnati Bankruptcy Attorney Now
If you cant afford to make payments on your mortgage, credit cards, or other debts, bankruptcy may prove to be your best option. Bankruptcy could allow you to wipe the slate clean on your debt and move forward with a fresh financial start.
Do not wait any longer to find out if bankruptcy is the right option for you. Contact Amourgis & Associates, Attorneys at Law, today. We can schedule a free, no-obligation, confidential consultation with one of our Cincinnati bankruptcy lawyers. We can explain your legal rights and bankruptcy options. Our goal is to make the process of resolving your debt or filing for bankruptcy as smooth and painless as possible.
How Chapter 7 Bankruptcy Works In Ohio
For most people, the goal of Chapter 7 bankruptcy is to wipe out as much debt as possible. In legal terms, this is called having your debts discharged.
In exchange for your bankruptcy discharge, you must be willing to turn over any of your property that is not exempt under bankruptcy law. The bankruptcy trustee in charge of your case will liquidate the property to pay as much as possible to your creditors thats why Chapter 7 is often called liquidation bankruptcy.
This article covers:
- debts you owe under a divorce or separation agreement
- fines, penalties, or criminal restitution payments, and
- any debts related fraud youve committed or injuries youve caused.
In addition, you often cant discharge debts that are secured by a particular piece of property. For example, if you have a car loan, the lender may be able to repossess your car. If you have a home loan and cant show that your home is exempt under bankruptcy law, the lender may have the right to foreclose your mortgage.
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Filing Without An Attorney
Individuals can file bankruptcy without an attorney, which is called filing pro se. However, seeking the advice of a qualified attorney is strongly recommended because bankruptcy has long-term financial and legal outcomes.
Filing personal bankruptcy under Chapter 7 or Chapter 13 takes careful preparation and understanding of legal issues. Misunderstandings of the law or making mistakes in the process can affect your rights. Court employees and bankruptcy judges are prohibited by law from offering legal advice.
The following is a list of ways your lawyer can help you with your case.
- Advise you on whether to file a bankruptcy petition.
- Advise you under which chapter to file.
- Advise you on whether your debts can be discharged.
- Advise you on whether or not you will be able to keep your home, car, or other property after you file.
- Advise you of the tax consequences of filing.
- Advise you on whether you should continue to pay creditors.
- Explain bankruptcy law and procedures to you.
- Help you complete and file forms.
- Assist you with most aspects of your bankruptcy case.
Bankruptcy Forms are available to the public free of charge.
- Use the forms that are numbered in the 100 series to file bankruptcy for individuals or married couples.
- Use the forms that are numbered in the 200 series if you are preparing a bankruptcy on behalf of a nonindividual, such as a corporation, partnership, or limited liability company .
- Sole proprietors must use the forms that are numbered in the 100 series.
Understand The Costs Of Filing Bankruptcy In Ohio
When you file for bankruptcy, you need to understand the cost and affordability of bankruptcy. The costs primarily consist of the filing fee and the attorney fee . Firstly, most attorneys offer payment plans. Some also offer $0 down payment options. The cost of the attorney can be variable based on such factors like your location and the difficulty of the case.
We built this Ohio attorney fee calculator to help you estimate costs based on your specific zip code.
If you cannot afford a payment plan, you may also look at the legal aid options in your state and also how the filing fee waiver works.
Legal Aid In Ohio
There are certain situations where you could get help through legal aid. Please note that each legal aid may have criteria set for who they will help. Here are legal aid option in Ohio.
Filing Fee Waiver in Ohio
Theres a filing fee to file bankruptcy. You can check the Ohio filing fee waiver requirements to see whether you may be eligible for the filing fee waiver.
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Bankruptcy Exemptions Under Chapter 13
Bankruptcy exemptions work differently in Chapter 13 bankruptcy than they do in Chapter 7. In Chapter 7, the bankruptcy trustee appointed to your case will sell your non-exempt property to pay your creditors. Under Chapter 13, the trustee wont sell your non-exempt propertybut the value of that property will be used to determine how much you must pay your creditors under your repayment plan. Either way, your creditors get the value of your non-exempt property.
Bankruptcy exemptions may include at least some of the equity in your home, your car, and personal property such as your clothes and household goods. Exemptions are determined by state law some states have their own exemptions, while others allow you to use the exemptions provided by the federal bankruptcy code.
For more information on Ohio law, see the Exemptions section of this website.
Understand Alternatives To File Bankruptcy
There are many bankruptcy alternatives to consider. We will cover the two most common alternatives, but you can find more in our bankruptcy alternatives article. As a reference, filing Chapter 7 bankruptcy is often the least expensive and the shortest.
Debt settlement is also known as debt negotiation, debt relief, or a debt consolidation program . In debt settlement, a company or you will negotiate with your creditors for a lower amount. You can save money and avoid filing bankruptcy. You may also be exposed to lawsuits, so its important to understand which creditors are likely to sue. A debt settlement programs often last 2 – 5 years.
Debt management is also known as credit counseling. In debt management, a company will negotiate with your creditors for a lower percentage interest rate. You can save money on interest and avoid filing bankruptcy. Debt management can be more expensive than debt settlement and Chapter 13. Debt management programs often last 5 years.
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How Do Exemptions Work
When you file for Chapter 7 bankruptcy, one of the biggest questions is whether or not you will be able to keep your property.
That depends on which property exemptions you can use on your bankruptcy forms. They are called exemptions because they âexemptâ — or âexcuseâ — certain property from being taken. In most cases, exemptions protect most day-to-day items that you own, unless you have expensive property like a house or a car.
Certain exemptions protect entire categories of property like retirements accounts, regardless of value. Other exemptions only protect specific property like a vehicle up to a certain value.
If you’re looking for a deep understanding of bankruptcy exemptions,read this article.
Filing For Chapter 7 Bankruptcy In Ohio
Yes, the Chapter 7 process is largely the same throughout the nation, but no two bankruptcy cases are exactly alike. Although the U.S. Bankruptcy Code is organized under federal law and applies in similar fashion throughout the country, each state has its own laws that govern local bankruptcy cases.
The Ohio legislature has enacted laws, known as exemptions, which allow debtors filing for bankruptcy to protect assets while discharging their debts. Federal bankruptcy exemptions are not available in Ohio.
Ohio is one of a handful of states where the legislature has passed bankruptcy-only exemptions. This means that the exemptions can only be utilized in a bankruptcy case, not against a judgment creditor in a state collection action. Take note: courts are split on whether bankruptcy-only exemption regimes are constitutional be sure to consult with an Ohio bankruptcy attorney to confirm exactly how the laws will apply to your case and if you will qualify for Chapter 7 bankruptcy.
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Chapter 13 Followed By A Chapter :
If you have previously filed Chapter 13 Bankruptcy and received a discharge, than you need to wait six years from the date of filing your last Bankruptcy before filing Chapter 7 Bankruptcy.
Otherwise, you will not receive a discharge in the Chapter 7 case unless you meet certain conditions.
If you want to file Chapter 7 Bankruptcy before six years, the following must occur.
- You must have paid 100% of allowed unsecured claims in your prior Chapter 13 Bankruptcy or
- You must have paid 70% of allowed unsecured claims during your Previous Bankruptcy Filing under Chapter 13 and the Court must determine that you made your best effort and proposed your plan in good faith in the prior Chapter 13 Bankruptcy.
It is crucial to understand the details about your previous bankruptcy filing and how it affects your ability to receive a discharge in your upcoming bankruptcy case.
It is also important to understand the impact a prior bankruptcy dismissal can have on the automatic stay, because it is the automatic stay that prevents creditors from taking action against you such as a garnishment, foreclosure or repossession.
Whether You Should File For Bankruptcy Without An Attorney Depends On The Type Of Bankruptcy And The Complexity Of Your Case
By Cara O’Neill, Attorney
You don’t need an attorney when filing individual bankruptcy, and filing on your own or “pro se” is feasible if the case is simple enough. But most people benefit from representation. In this article, learn:
- when Chapter 7 is too complicated to handle yourself
- why hiring a Chapter 13 lawyer is always important, and
- if you represent yourself, how a bankruptcy petition preparer can help.
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Do You Have Questions About Bankruptcy And Divorce Contact Us Today
Deciding whether to file for divorce before or after bankruptcy can lead to many consequences. Therefore, its important to consult divorce and bankruptcy lawyers to help with each process. Family lawyer Zac Dusza and bankruptcy attorney Adrienne Hines of Kademenos, Wisehart, Hines, Dolyk & Wright Co. LPA are ready to help you. To schedule a free, initial evaluation of your case, contact us today at .
Reasons To File For Divorce After Bankruptcy
You may be wondering whether you should file for divorce before or after bankruptcy. The answer to this question depends on the specific circumstances of your case. However, if you are filing for Chapter 7 bankruptcy, which involves getting rid of your debts through discharge, it often makes more sense to file for divorce after filing for bankruptcy.
If you file for bankruptcy before you get divorced, itll be far less expensive than filing two separate bankruptcies after divorce. Youll be able to benefit from one legal fee, one batch of paperwork, one Meeting of Creditors, and save a significant amount of money as a result.
Also, if you file for bankruptcy before divorce, you will no longer be responsible for any joint debt incurred during your marriage. In the event you file for bankruptcy after divorce, your liability may be relieved, but you may still be forced to pay your former spouses debt or reimburse them for it.
In addition, if you file for bankruptcy while youre still married, youll find the process to be easier and not as stressful. After the Chapter 7 bankruptcy process ends in about 90 days, youll enjoy financial relief and be able to focus on improving your personal life via divorce.
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How The Automatic Stay Stops Debt Collectors
After you file your bankruptcy petition with the court, an order called the “automatic stay” immediately stops most collection actions and civil lawsuits against you. The bankruptcy clerk notifies your creditors and, while the stay is in effect, they generally can’t call you, garnish your wages, repossess your property, or sue you.
That said, the automatic stay won’t stop certain legal actions against you, including:
- collection of child support or alimony
- repayment of loans from most retirement funds
- any criminal proceedings against you
- certain tax proceedings, or
- other actions or collections described in the U.S. bankruptcy code ).
In addition, the protection of the automatic stay may be shortened or denied altogether if you’ve filed for bankruptcy multiple times.
How Our Cincinnati Bankruptcy Lawyer Can Help
Are you considering bankruptcy to help you deal with your crushing debt? A Cincinnati bankruptcy attorney from Amourgis & Associates, Attorneys at Law, can help you by:
- Exploring alternatives to bankruptcy that could have a less drastic impact on your credit. Those alternatives include financial counseling, loan modification, or debt consolidation.
- Determining which type of bankruptcies you qualify for. A bankruptcy attorney can help you choose between them.
- Preparing and filing your bankruptcy petition.
- Preparing your repayment plan in Chapter 13 bankruptcy.
- Representing you during bankruptcy hearings and addressing any creditor objections to your bankruptcy or repayment plan.
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Can You Keep Your Home In Bankruptcy
The main determining factor in whether you will be able to keep your property is the amount of equity in the home. Combined with your ability to remain current in your mortgage payments, you will likely be able to keep your home in bankruptcy. Ohio law provides a significant exemption enabling most to proceed with Chapter 7 even if there is equity in a residence. There are subtle differences between the filing of a Chapter 7 bankruptcy and a Chapter 13 bankruptcy.
Types Of Bankruptcy Cases We Handle
Our Cincinnati bankruptcy law firm can help you file for bankruptcy. We can help you determine whether its best for you to file Chapter 7 or Chapter 13.
- Chapter 7. Chapter 7 is also called liquidation bankruptcy. Chapter 7 bankruptcy involves the liquidation of a debtors non-exempt assets. The liquidation generates money to pay off as much of the debtors outstanding debt as possible. After liquidation, any remaining balances on most kinds of debt are discharged and eliminated. The debtor in effect gets a clean slate. One downside to Chapter 7 bankruptcies: they are noted on a debtors credit report for up to 10 years.
- Chapter 13. Chapter 13 bankruptcy is also known as a wage earners plan. A Chapter 13 bankruptcy allows a debtor to reorganize debts by proposing a plan to pay off a portion or all of the debts during a three- to five-year period. A Chapter 13 debtor makes payments to a trustee, who then disburses the funds to creditors according to the repayment plan. The debtor keeps possession of his or her property in this kind of bankruptcy. If the filer complies with the terms of the plan, any remaining eligible debts are discharged at the end of the repayment period.
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How Do The Types Of Debts I Have Affect Filing For Bankruptcy
In order to know if bankruptcy will eliminate all your debts, you need an understanding of how, under law, different types of debts cannot be discharged by bankruptcy. Thesenon-dischargeable debts include:
- Some tax debts
- Domestic support obligations
- Debts from fraudulent acts or criminal behavior
- Student loan debt
Can I File Again
However, many people assume that if the bankruptcy is still listed, they cant file again. The confusion can lead to questions like this:
Question: Ive been working with a debt settlement company since May 2017. They have settled six of my accounts with three more to go.
I chose not to do bankruptcy because it was still showing on my credit report, although it was discharged in 2006. And I didnt know if I can file again.
How I got to this point was through unfortunate circumstances and bad habits. Ive been living paycheck to paycheck, so I used payday loans anytime I had an emergency. Then I got a car title loan just to pay other loans. Now Im stuck with a foolish car title loan until October 2020.
The debt settlement has given me some relief. But I still have quite a bit to go, and I find myself being in the red each month. I have a budget for each pay period, but I still end up using overdraft funds almost every month.
Sometimes, Im over by a $100 and sometimes by $300. It depends on what has happened unexpectedly in that pay period. Those additional fees of $28 each can add up. Ive cut back all that I can and just pay my bills. I do get an extra $200 a month for keeping my grandchild on weeknight and weekends.
What can I do more to help with my financial difficulties?
Jo in California
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