What Is Chapter 11 Bankruptcy In Ohio
In Ohio, Chapter 11 bankruptcy is the bankruptcy filed by corporations and sometimes individuals, unable to pay creditors. By filing this bankruptcy, debtors may restructure their debt and in collaboration with creditors draw up a repayment plan that works for both parties without liquidating the assets of the business.
The debt reorganizing and restructuring requires the approval of a bankruptcy court before it is binding on the parties. Filing for Chapter 11 bankruptcy in Ohio requires corporations to submit details which may include the list of debtors, list of creditors, evidence of credit counseling, and other financial details.
How Do Ohio Courts Work
Ohio courts are made up of three main levels, including the Trial Courts, Courts of Appeals, and the state Supreme Court. Trial courts have the first-hand jurisdiction over most civil and criminal matters and may also be referred to as courts of general jurisdiction. Appeals from the trial courts are transferred to the Ohio Courts of Appeals, the states intermediate-level appellate courts. The Courts of Appeals hear appeals from the trial courts in both civil and criminal matters. However, sometimes, a case may be transferred directly to the Supreme Court, thereby bypassing the Courts of Appeals. This may happen when the case is outside the Courts of Appeals jurisdiction, such as a case where the defendant is appealing a death sentence judgment passed by a lower court. The Ohio Supreme Court is the highest court in the state and has authority over all Ohio courts. The states Supreme Court is the last resort court and has supremacy over the Ohio constitution’s interpretation.
Ohio has one Supreme Court composed of seven justices, including one chief justice and six associate justices elected in partisan primaries and nonpartisan general elections. There are 12 appellate districts, with each district having three or more judges. Ohios 88 counties are divided into the 12 appellate districts, each having one Court of Appeals. Trial Courts have at least one judge in each court.
What Court Are Bankruptcies Filed In
You may wonder how common it is for people facing financial difficulties to turn to bankruptcy as a solution. That number has been between 750,000 and 840,000 per year fornon-business bankruptcy filings alone. If you have never personally filed, you probably know someone who has. Filing for bankruptcy can seem to be a confusing or even frustratingprocess. The purpose of this article is to help you gain a better understanding of this process and hopefully eliminate some of the frustration.
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Do I Need An Attorney
Corporations, Partnerships, or any other association are required to have an attorney.Individuals can file bankruptcy without an attorney and go âpro perâ or âpro se.âBut, it is very difficult to do as the rules of bankruptcy are very complex. Parties are required to follow the rules and procedures of bankruptcy court whether or not they are represented by an attorney.
What Is The Difference Between Chapter 7 And Chapter 13 Bankruptcy
In Chapter 7 bankruptcy, the non-exempt assets of the debtor are liquidated and the proceeds are distributed to the debtorâs unsecured creditors. Chapter 7 is the most simple and quickest form of bankruptcy. In 2005 amendments were made to the bankruptcy law to require a âmeans testâ that a debtor must meet in order to be eligible to file for Chapter 7 bankruptcy. If the âmeans testâ is failed, the case will either be dismissed or converted to a Chapter 13 bankruptcy.Chapter 13 bankruptcy allows an individual to keep all of their possessions or assets, but they must devote a portion of their future income to repay their creditors. The debtor must have a regular source of income in order to develop a plan to repay all or part of their debts. In Chapter 13 bankruptcy the payback period is between 3-5 years depending upon the amount of income the individual has.The biggest difference is that the debtor is able to keep all their possessions in a Chapter 13 filing, but must pay back their debt over a 3-5 year period.
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What Is A Chapter 13 Bankruptcy Case
Chapter 13 is designed for a Debtor who has a regular source of income. Chapter 13 is preferred by most Debtors over Chapter 7 because it allows a Debtor to keep a certain asset , and allows the Debtor to set up a âplanâ to repay Creditors over a period of time .Chapter 13 is also used by individual Debtors who do not qualify for Chapter 7 under the âmeans test.âThe confirmation hearing is where the court either approves or rejects the Debtorâs repayment plan.In making its decision, the court looks to the requirements for determination under the U.S. Bankruptcy Code.Chapter 13 is different from Chapter 7 because the Debtor usually remains in possession of the property , and makes payments to the Creditors for the duration of the payment plan.Also a difference from Chapter 7, is that the Chapter 13 Debtor does not receive a discharge until all the payments required under the plan are made.One other advantage is that the discharge under Chapter 13 is broader than under Chapter 7 .
What Does Pro Se Mean
If you’re filing for bankruptcy without the help of an attorney, follow all links that use the term “pro se.” “Pro se” is the Latin term for people handling their own legal matters without a lawyer.
Many courts provide information for such persons by using this Latin term, rather than plain-English. The more service-oriented courts labeled such information with links like “Filing without an attorney.” Courts that aren’t as helpful tend to hide such information behind a link called “pro se information” or “pro se filers.”
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How To Obtain Case Information
Case Information by PhoneCase information is available toll free through the court’s automated Voice Case Information System at 222-8029. This system is available 24 hours a day, 7 days a week. A case number, complete name, or a social security number/ITIN is required to obtain case information. The information available from the automated system is:
- Case number
- Name of debtor, or principal party
- Date the case was filed, whether a voluntary or involuntary petition was filed, and the chapter under which the petition was filed
- Name and phone number of the debtors attorney
- Trustee’s name
- Name of the assigned Judge
- Discharge and closing dates
- Whether there are assets in the case
- Case status and
- Case disposition.
Case Information OnlinePublic Access to Court Electronic Records is a web-based system that allows users with an internet connection and a PACER account to view or print case documents online. A fee is charged for each page viewed. To sign up for a PACER account, register at . Case Information in PersonMost bankruptcy records can be viewed at no charge using the public access terminals in each Bankruptcy Court divisional office. For cases closed in the Los Angeles Division prior to February 1, 2001, please call the Courts Call Center at 460-9641 for assistance.
All requests for certified bankruptcy documents sent by mail must include:
Requesting parties will be contacted by phone once the Bankruptcy Court determines the total fees due.
Fee Exemptions For Researchers
Individual researchers working on defined research projects intended for scholarly work can use the attached form to request PACER fee exemptions from multiple courts. In accordance with the EPA fee schedule, the request should be limited in scope, and not be intended for redistribution on the internet or for commercial purposes.
Please note, if you are seeking a fee exemption from a single court and/or for non-research purposes, contact that court directly.
Define the data needs for research using the Federal Court Cases Integrated Database provided free of charge by the Federal Judicial Center. The IDB has case data for criminal, civil, appellate, and bankruptcy cases that can help researchers refine their requests.
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What You’ll Find There
You’ll need to file your papers with one of the courthouses that serve the Ohio Northern District Bankruptcy Court.
When there isn’t a pandemic going on, you’d normally have to go there in person at least once to meet with the bankruptcy trustee for your 341 hearing. During the Coronavirus pandemic, those meetings are typically done by phone.
Why File For Chapter 7 Bankruptcy In Ohio
Filing a Chapter 7 bankruptcy in Ohio is beneficial to debtors in so many ways some of which includes:
- Expedite release from debt as repayments are concluded within six months of filing.
- Discharge of all or most unsecured debts.
- Exemption of some assets such as clothing, child support, and pension funds from liquidation.
Note: some debts may not be discharged after filing a Chapter 7 bankruptcy. Examples of non-dischargeable debts include student loans, child support, taxes, as well as alimony.
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Why Should I Find Out If Someone Filed Bankruptcy
Discharging debts in bankruptcy means that a debtor is no longer required to pay those debts. Debs are either discharged and assets sold to pay the creditors, or the court creates a repayment plan for the debtor to repay debts in a way that is more manageable based on their current income and finances.
The court enters an order that prohibits creditors to attempt to collect the discharged debts via legal action, telephone calls, letters, or other forms of contact.
There are a variety of reasons why someone might file for bankruptcy. Some of the more common reasons include:
- Overextended personal lines of consumer credit
Filing for bankruptcy is generally not a decision people take lightly, but the fact that someone has taken that route to get out of debt might be of interest to other individuals who have an interest in their financial history and current financial health.
Bankruptcy cases are exclusively the jurisdiction of federal bankruptcy courts. Bankruptcy records are public information and can be helpful for making financial decisions. There are several reasons why you might want to find out if someone filed for bankruptcy. Some of the more common reasons are:
- Researching the financial history of a potential business partner
- You need to determine whether it is a smart decision to loan money to someone or
- You are interested in the financial history of a business.
How Do I Find Court Records In Ohio
The first step to take when trying to obtain court records in Ohio is to draft a request application and send it to the courthouse where the case was filed or heard. In Ohio, courts maintain official court records in hard copy or electronic format thus, interested persons can access documents in either form. There are two primary ways to access court records. These include:
- Onsite request at the courthouse
- Online request
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Chapter 11 Bankruptcy Case
Chapter 11 is generally for commercial enterprises that wish to keep operating a business and repay creditors through a debt repayment plan approved by the bankruptcy court. During the first 120 days, the debtor has the exclusive right to file a reorganization plan and provide the creditors with a disclosure statement which allows the creditors to evaluate the plan. The bankruptcy court is charged with ultimately approving or rejecting the reorganization plan submitted by the debtor. Under the plan, the debtor can reduce its debt by discharging some or repaying only a portion of its obligation. Under Chapter 13, the debtor undergoes a period of consolidation and ultimately leaves with a reduced debt load and reorganized business.
Info On Filing Without An Attorney
Information specific to your district
You’ll need information specifically about your particular court’s procedures.
Fortunately, the Ohio Northern District Bankruptcy Court offers information specifically designed for people filing without an attorney. Virtually all courts link to the generic national information mentioned above. The Ohio Northern District Bankruptcy Court offers specific guidance about local procedures.
General information about how to file
If you’re new to the bankruptcy process, the website of the US Courts Adminstrative Office now offers a basic orentation page for those filing bankruptcy without an attorney. The information inlcudes a Bankruptcy Basics video in EnglishSpanish and Creole. The half hour video is split into chapters so you can go back and review parts that went by too fast the first time.
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How To Review Bankruptcy Filings
Whether you are reviewing bankruptcy filings electronically or in person at the courthouse, you review the records in the same way. Each bankruptcy case has what is known as a docket. A docket is an index of all the documents filed in a particular case. This allows you to quickly review all filings in a bankruptcy case and choose which specific documents you need. For example, if you are looking for the schedule of property filed by a debtor, visually search for the word “schedule” in the docket. If you are looking for a motion to dismiss, visually scan the docket for the word “dismiss.” If you are reviewing the docket on a computer, you can use the computer’s search function to quickly find these words. You can download a document from PACER, or if you are searching in person, you can request the particular document from the clerk.
Ohio Motor Vehicle Laws
Historically Ohio residents had to display two license plates on their vehicles . However, in a new law that goes into effect on July 1, 2020, residents will no longer need to have one on the front of their vehicles.
When registering a new vehicle in Ohio, vehicle owners must sign a Financial Responsibility Statement. To register, you must visit a deputy registrar license agency and provide the following:
- If leased, a lease agreement and power of attorney documents.
- If vehicle is in an E-Check county, E-Check will be required.
- If proof of weight is required, find Ohio weigh stations.
Ohio renews leased vehicles based on your last name with each month corresponding to letters of the alphabet. For owned vehicles, the expiration month will be your birthday. When renewing, you must visit a deputy registrar license agency and fill out the same Financial Responsibility Statement and pay your fees.
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Bankruptcy: A Clear Definition
Bankruptcy is the legal process by which people or businesses who find themselves unable to repay debts owed to creditors may seek relief from part or all of their debts. Thisresults in the creditor being unable to collect any part of the debt previously owed, relieving the financial burden of the debtor. In most cases, the bankruptcy filing isinitiated by the debtor.
Individuals seeking to file for bankruptcy have a couple of options. One available option is called Chapter 7 and allows one to have the entirety of his debts forgiven onlyafter any liquid assets have been used to repay a portion of the debt. In order to qualify for this type of filing, one must be able to prove that his income is lower than hisstates average family income. If one cannot pass this test, the second option may still be available. If the individual seeking to file for bankruptcy makes more than theaverage family income for his state, then he may file a Chapter 13 claim. This option allows the debtor to set up a payment plan over three to five years, over which time he mustmake his payments to the courts. It is important to keep in mind that a bankruptcy remains on ones financial record and credit history for a minimum of seven years. Becauseof this, it should only be the final attempt to exempt oneself from outstanding debt.
New York Bankruptcy Records
Short of California and Ohio, the Empire State saw the third highest number of bankruptcies filed in 2008. With more than 34,000 individuals filing during the calendar year, finding the record you need requires using the most accurate information possible. Be sure you have at least a full name or social security number before beginning your search.
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How Do I Find My Case Number In Ohio
A case number refers to a set of numbers allocated to each court case. A case number helps determine the year the case was filed, the court where it was filed, and other details on the case. A case number also provides easier access to case information and allows for a more specific search result, as a case number is unique to each case, and no two cases have the same number. Interested persons can search online with the name of either party involved in the case and also provide other optional information, including filing date and date of birth, to facilitate the search and identify the case number.
In most courts, the required information to perform an online name search for a case number are the first/middle name and last name, or company name, of a party to the case. During a case search, the optional information required includes a date of birth and filing or hearing date. An online name search can be conducted on the case search or record search portal. The Ohio judiciary website provides a list of all the Courts in Ohio and their respective locations, phone numbers, and websites. A name search to find a case number can also be conducted at the courthouse where the case was filed.
What Is A Chapter 12 Bankruptcy Case
Chapter 12 is written specifically for farmers of fisherman. The procedures under Chapter 12 are very similar to those under Chapter 13. Under Chapter 12, the Debtor agrees to pay a portion of the Debtorâs debts under repayment plan .Like Chapter 13, under Chapter 12, there is also a trustee appointed to to disperse payments to Creditors.Under Chapter 12, a fisherman or farmer is able to continue operating a business while the repayment plan is carried out.
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