What Is The Difference Between A Chapter 7 And Chapter 13 Bankruptcy In Ohio
While Chapters 7 and 13 bankruptcies share some similarities, they are different in so many ways. The differences are as follows:
- While Chapter 7 bankruptcy provides a debt-repayment plan funded by liquidating the debtor’s assets, Chapter 13 bankruptcy on the other hand works out a debt repayment structure for debtors without selling off their assets.
- The requirements for eligibility for both forms of bankruptcy differ. While individuals, businesses, as well as sole proprietors, are eligible to file a Chapter 7 bankruptcy, Chapter 13 bankruptcy may be filed by only individuals and sole proprietors and not corporations and businesses.
- While a Chapter 7 bankruptcy takes between 3 to 6 months to complete, a Chapter 13 bankruptcy repayment may linger for 3 to 5 years.
What Is Bankruptcy Protection In Ohio
Ohio bankruptcy protection is a court order issued by a bankruptcy court to creditors to stop further actions to recover a debt after a debtor files for bankruptcy. This court order is also known as automatic stay judgment. Bankruptcy protection buys individuals, companies, and businesses time to come up with a debt repayment plan. Creditors are by this order mandated to pause debt recovery actions such as repossession, garnishments, harassment, incessant calls, and text messages, as well as legal actions. Non-compliance to the court order on the part of the creditors may attract sanctions.
United States Bankruptcy Court
The Electronic Case Filing System is the Federal Judiciary’s automated system that allows registered users to file and view cases and pleadings on line. Attorneys and creditors filing more than 25 claims each year must submit filings electronically, unless authorized by court order to file documents on paper. Should a prospective user wish to access the court’s ECF system, a request for a login and password must be submitted to the court. If ECF training is desired, on-line training modules may be completed as refresher courses. ECF Help Desk staff members in each office are available to answer questions regarding ECF filing procedures from 9:00 a.m. until 4:00 p.m. Monday through Friday. Legal advice will not be provided.
Case Information may also be viewed and printed on Public Access to Court Electronic Records . Visit the PACER website for login and password instructions. Information on cases filed before January 1, 2003, have been archived, and may be accessed through the Federal Records Center. An archive case search may be conducted on the courts website. Fees for archive case retrieval may apply.
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Skilled Representation For Your Bankruptcy Case
When you consult with a bankruptcy attorney, youre placing your entire financial life in another persons hands. Its important to find an experienced, compassionate lawyer you can trust. At Kademenos, Wisehart, Hines, Dolyk & Wright Co. LPA, we understand that anyone can fall on hard times for any number of reasons.
Our bankruptcy lawyers are here to help. We will handle your case with the respect and sensitivity you deserve because we understand what’s at stake for you. We know that bankruptcy isn’t an easy decision. Our goal is to help you move forward and make a fresh start with a clean financial slate.
Contact us today for your free consultation to learn how we can help you through this stressful time in your life.
Public Access To Court Electronic Records
PACER provides the public with electronic access to selected court case information on the Internet. Registered parties can access cases, documents, and docket sheets electronically. To register for a PACER account, use our convenient registration process at . To report problems, please contact the PACER Support Center at 676-6856.
Each court maintains its case information locally. To access the Northern District of Ohio Electronic Case Filing System, click here:
If you do not know where the case is filed, use the PACER Case Locator
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List Of United States District And Territorial Courts
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There are 94 active United States district and territorial courts. Each of the 50 states has between one and four district courts, and the District of Columbia and Puerto Rico each have a district court.
The insular areas of Guam, the Northern Mariana Islands, and the United States Virgin Islands each have one territorial court these courts are called “district courts” and exercise the same jurisdiction as district courts, but differ from district courts in that territorial courts are Article IV courts, with judges who serve ten-year terms rather than the lifetime tenure of judges of Article III courts, such as the district court judges.American Samoa does not have a district court or a federal territorial court, and so federal matters there are sent to either the District of Columbia or Hawaii.
Ohio Valley University Files For Chapter 7 Bankruptcy
VIENNA, W.Va. – Ohio Valley University has filed for chapter 7 bankruptcy.
The filing was done in United States Bankruptcy Court for the Northern District of West Virginia by the universitys attorney, Martin Sheehan.
A news release from Sheehans office says secured creditors have rights to collateral, but any property not claimed by those creditors can be sold off to pay other debts.
Court documents say the bankruptcy filing at least temporarily prevents most debt collectors from suing the university or taking other actions to recover their money or property.
As part of a chapter 7 filing, a trustee has taken control over all of the universitys property. He is named in court documents as Thomas Fluharty, of Clarksburg, West Virginia.
Sheehan said in a phone interview that OVU is at least $15 million in total debt. He said it is unlikely that the school will ever return.
OVU closed its doors to most students at the end of last year, just days before the West Virginia Higher Education Policy Commission decided to revoke its ability to confer degrees, effective June 30, 2022.
Plans were made to help students complete their educations at other schools, but a handful were allowed to return for spring semester to complete their degrees.
The news release says OVU currently has 16 students completing their degrees on campus.
There is a meeting of creditors scheduled for April 13 at 11:30 a.m. The schools representative is required to be there for questioning.
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Do You Need A Bankruptcy Lawyer
Bankruptcy brings up some pretty negative images, and there is a lot of inaccurate information out there. But bankruptcy is a program created by federal law that allows you to eliminate certain kinds of debt or create a payment plan to repay your debts over time. Bankruptcy also offers you legal protection while you go through the process of discharging or reorganizing your debts.
Good people can have their lives disrupted by illness, divorce, disability, or unemployment. We understand that for a lot of families, once you fall behind it can be seemingly impossible to catch up. Bankruptcy law exists to help people who became overwhelmed by debt to have some breathing room and get their lives back in order.
Thats exactly what our Ohio bankruptcy lawyers do. We protect your assets, deal with creditors, explain your options, and help you deal with your financial situation the right way. Whether you go through Chapter 7 or Chapter 13, a bankruptcy lawyer will help you get the result you need and discharge your debts in bankruptcy court.
What Are The Other Types Of Bankruptcy In Ohio
Aside from Chapter 7, 11, and 13 bankruptcies, Ohio residents may also file for Chapter 12 bankruptcy. Chapter 12 bankruptcy is however limited to farmers who earn a major part of their income from farming operations.
There are alternative options debtors may employ to get relief from debts without filing for bankruptcy and they include:
- Direct negotiation with creditors to restructure debt repayment plans.
- Enlisting the services of credit counseling to assist in debt management.
- Employing the services of a bankruptcy attorney to negotiate a debt settlement with creditors
- Fighting disputed debts in court when sued by a creditor.
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Citing Resources In The Web Archive
Citations should indicate: Archived in the Library of Congress Web Archives at www.loc.gov. When citing a particular website include the archived website’s Citation ID . Researchers are advised to follow standard citation guidelines for websites, pages, and articles. Researchers are reminded that many of the materials in this web archive are copyrighted and that citations must credit the authors/creators and publishers of the works. For guidance about compiling full citations consult Citing Primary Sources.
The Two Types Of Bankruptcy Filings Available For Consumers Are:
Chapter 7 Chapter 7 involves getting rid of your debts through a process known as a discharge. Debts such as credit card bills, medical bills, and personal loans not secured by collateral can be eliminated through a Chapter 7 without making payments. In essence, you get a fresh start. Chapter 7 also can allow you to get out from under a burdensome home mortgage or car loan if youre willing to relinquish ownership of the house or vehicle. Most people who file a chapter 7 are able to keep a home or a car if thats what they choose to do. In very rare circumstances, if you have significant equity in any assets, like a house you own your assets may be taken and sold to pay your creditors.
Chapter 13 Chapter 13 involves re-paying your debts over 3 to 5 years through a court-approved plan. Your payment plan is administered by the Chapter 13 trustee for your region, who collects payments from you and distributes money to your creditors. Chapter 13 allows you to keep assets like a car or a home and catch up delinquent payments through your payment plan. Depending on your financial situation, you may only pay other creditors pennies on the dollar. Any remaining balance you owe for debts such as credit cards, medical bills, or personal loans not secured by collateral are discharged at the end of your plan. Chapter 13 plans are unique and different for every individual.
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How To Get Ohio Bankruptcy Records
Ohio bankruptcy records can be obtained via the following ways:
Electronically:
The Public Access to Court Electronic Records system is an electronic service that provides the general public with online access to federal court records. Persons requiring this service to retrieve federal court records must register for the service and create a user login and password. Registered users are charged fees for using this service, based on the amount or type of information accessed and the type of service used.
The McVCIS is an automated telephone system developed for federal courts nationwide. This system provides the public with general access to Ohio bankruptcy case information and records via toll-free telephone calls. Below are step-by-step instructions to use the service:
- When prompted, say Ohio to select the desired state.
- Choose between the northern and southern districts when prompted to select the desired Bankruptcy Court. Callers can press # to hear a list of available courts.
- Be sure to listen to the instructions from the message prompts when using the system. Proceed by either entering the digits on the telephone keypad or saying them out one at a time. For instructions, press 1 or say help.
- To search by case number, click 2 or say case number
- To search by name, click 3 or say name
- To search by social security number or tax ID number, click 4 or say social security.
Users of the McVCIS service can make up to five queries per telephone call.
In-Person:
Mail:
Do I Qualify For Ohio Chapter 13 Bankruptcy
The eligibility for a Chapter 13 bankruptcy is determined by the amount of debt owed. As of 2017, to be eligible for Chapter 13 bankruptcy, debtors must not owe above $360,475 in unsecured debt and $1,082,400 in secured debt. This amount is adjusted based on the current cost of living. Other requirements for eligibility include:
- Undergoing a credit counseling program within 180 days of filing for bankruptcy
- Interested persons must have a regular source of income.
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What Is The Downside Of Filing For Bankruptcy In Ohio
There are some downsides associated with filing for bankruptcy. Bankruptcy does not discharge all debts. Debts such as taxes, alimony or child support, fines levied by government agencies, as well as student loans are not discharged when a debtor files for bankruptcy. The type of bankruptcy being filed will also determine the type of debt that will be discharged. Other cons associated with the declaration of bankruptcy include:
- Loss of non-exempt properties such as cars and houses.
- Spending limitations on debtors once a debt repayment plan has been worked out.
- Limitations in filing especially for Chapter 7 Bankruptcy which may be filed after 8 years interval from the first one.
- Difficulty in accessing loans and other forms of credit.
- Lowers the credit score and remains on the credit report for seven to ten years. Lower credit score: filing for bankruptcy lowers the credit score.
- Possibility of closure of credit card accounts held by the debtor.
Notwithstanding the limitations, filing for bankruptcy may be beneficial to debtors in the following ways:
- Debtors may be granted full or partial relief from debts.
- Enables debtors to pay off debts faster using a repayment schedule worked out by the court.
- Relief from incessant calls and possible lawsuits from creditors.
How Do I Find Out If My Bankruptcy Case Is Closed In Ohio
A bankruptcy case is considered closed when the Court issues a closing order, which is different from the discharge notice. The Court sends a notice directly to the petitioner notifying of the closure of a bankruptcy case.
Individuals can obtain the status of any bankruptcy cases using PACER to search and retrieve the status of the bankruptcy case. They can also retrieve the status of a bankruptcy case using the Electronic Case Filing system of the particular Bankruptcy Court where the case was filed. Also, individuals can ascertain the status of a bankruptcy case by accessing McVCIS.
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Why File For Chapter 11 Bankruptcy In Ohio
Filing a Chapter 11 bankruptcy gives debtors certain benefits which includes
- The opportunity to carry on normal business operations without liquidation of assets.
- A workable payment plan that favors both the debtor and creditors.
- Freedom from harassment from creditors as a result of automatic stay given by the courts.
Chapter 11 bankruptcy is best suited for businesses filing for bankruptcy. However, individuals with a debt that is above $419,275 are eligible for Chapter 11 bankruptcy.
What Our Bankruptcy Lawyers Do
Bankruptcy is a complex area of law. There is a lot of documentation to consider, and mistakes on your part could be misunderstood as attempts to hide assets. A lawyer is usually your best option to move through the process and resolve debts with your creditors. An experienced lawyer will know whats allowed, how to avoid having your case dismissed, and other ways to protect your financial well-being.
At Kademenos, Wisehart, Hines, Dolyk & Wright Co. LPA, we have years of experiencing handling countless bankruptcy cases with sensitivity and compassion. After you initial consultation, we will explain you options, start the paperwork, represent you in any meetings of your creditors, and resolve your bankruptcy case from start to finish. Its our job to advocate for you and help you get back onto stable ground. Call us at 871-9015 for a free consultation today.
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Record Group : Records Of The District Courts Of The United States Series Title List Ohio
U.S. District Court for the District of Ohio.
Series: Bankruptcy Act of 1841 Case Files, 1841-1843, Textual National Archives Identifier: 6997963
U.S. District Court for the Eastern Division of the Northern District of Ohio.
Series: Bankruptcy Act of 1898 Case Files, 1898-1972, Textual National Archives Identifier: 575793
Series: Historical Bankruptcy Case Files, 1946-1960, Textual National Archives Identifier: 74613350
Series: Sampled Non Trial Bankruptcy Case Files, 1941-1969, Textual National Archives Identifier: 26457821
U.S. District Court for the Eastern Division of the Southern District of Ohio.
Series: Bankruptcy Act of 1898 Case Files, 1898-1974, Textual National Archives Identifier: 580645
Series: Historical Bankruptcy Case Files, 1966-1966, Textual National Archives Identifier: 91726398
Series: Sampled Non Trial Bankruptcy Case Files, 1941-1969, Textual National Archives Identifier: 26466893
U.S. District Court for the Eastern Division of the Northern District of Ohio. Youngstown Term.
Series: Historical Bankruptcy Case Files, 1971-1971, Textual National Archives Identifier: 62998662
U.S. District Court for the Northern District of Ohio.
Series: Bankruptcy Act of 1867 Case Files, 1867-1878, Textual National Archives Identifier: 6998096
U.S. District Court for the Southern District of Ohio.
Series: Bankruptcy Act of 1867 Case Files, 1867-1878, Textual National Archives Identifier: 12438627
U.S. District Court. Southern District of Ohio. Cincinnati.
Do I Qualify For A Chapter 7 Bankruptcy In Ohio
Eligibility for Chapter 7 bankruptcy in Ohio is determined by the income level of the debtor. Debtors filing for Chapter 7 bankruptcy after May 1, 2018, are required to have an annual income that is below the median income in the state. For a single earner, the median annual income is $48,596. Where a debtor’s earning is above the state’s median income, the debtor is required to provide proof that the available disposable income after all living expenses have been paid, will not cover the debt.
To file for Chapter 7 bankruptcy, interested persons may be required to fill bankruptcy forms, evaluate their assets, enroll and complete a credit counseling program, and meet the eligibility requirement.
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